Maxus Mining Advances Exploration at the Lotto Tungsten Property in British Columbia, Canada, with 2025 Results and Ongoing Target Development
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Maxus Mining Advances Exploration at the Lotto Tungsten Property in British
Columbia, Canada, with 2025 Results and Ongoing Target Development
April 2, 2026
Vancouver, B.C. – Maxus Mining Inc. (“Maxus” or the “Company”) (CSE: MAXM | FRA: R7V), is pleased to provide a
summary of analytical results from the 2025 field program at its Lotto Tungsten Property (the “Project” or the
“Property”), located in the Trail Creek Mining District in British Columbia (Please see Figure 1). Maxus engaged Palliser
Exploration Ltd. (“Palliser”) to complete a reconnaissance field program across the Project in autumn 2025 (the
“Program”). The first round of results of the 2025 exploration and sampling program at the Project are summarized
below (Please see Figure 1).
Lotto Tungsten Project Highlights
• Strategic Location: The Project is situated along Highway 3, approximately twenty (20) km west of
Castlegar, British Columbia, providing excellent access to infrastructure and year -round exploration
potential (Please see Figure 1).
• Cost-Effective Advancement: Integration of historical drilling and 2025 field results from the Program into
a centralized 3D geological model is underway, supporting refined targeting and prioritization of
prospective zones for follow-up work.
• Emerging Polymetallic System: Initial results indicate tungsten (“W”) and molybdenum (“Mo”) anomalism
associated with quartz veining and alteration, reinforcing the potential for a structurally controlled
polymetallic system warranting further systematic exploration.
Lotto Project Historical Highlights
• Historical ‘Loto 3’ showing consists of a 9-metre-wide quartz vein with scheelite (CaWO4) mineralization.1
• Disseminated scheelite present in quartz veins located northwest of the main Loto 3 showing and along the
western edge of the highway.1
• Grab sample from the Loto 3 claim in 1980 from a quartz vein with scheelite returned high-grade* 10.97%
WO3.1
*The Company considers results greater than 1.0 wt.% WO3 to be “high-grade”.
“The Lotto Property is beginning to demonstrate the characteristics we look for in a prospective critical minerals
project,” said Scott Walters, Chief Executive Officer of Maxus. “These early results, combined with compelling
historical data, are helping us define a clear path forward. Our next phase of work will focus on expanding the
footprint of mineralization and advancing high-priority targets as we work to unlock the broader potential of this
underexplored project.”
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Figure 1: Lotto Tungsten Property Outlining Historic Showings, Historic Assays, and 2025 Program Highlights
2025 Lotto Exploration Program
Prior to mobilization, Maxus’ technical team reviewed historic assessment reports covering the Property and
compiled the results into a central GIS database. This work highlighted favourable geological environments for
potential mineralization at the Property and outlined several exploration targets across the Property (Please see
Figure 1).1,2 Following the data compilation, the Company initiated the field reconnaissance Program to evaluate the
generated target areas.
Two samples, G018634 and G018641, returned 105 ppm Mo and 21 ppm W, respectively (Please see Table 1; Figure
1). Both samples contained abundant quartz veining and strong iron-oxide alteration, hosted in altered siltstone and
granodiorite, respectively.
Currently, the sample size and geochemical results are not robust enough to support a mineralogical interpretation.
The Company is advancing plans for continued field programs focused on systematic rock sampling, detailed geologic
mapping, and airborne geophysical surveys to strengthen the existing dataset and improve overall interpretive
confidence. Expanding spatial coverage and increasing sample density would help capture lithological variability and
structural complexity that may not be fully represented in the current data. Targeted sampling of underrepresented
units and areas of structural interest would refine correlations and support more accurate geological models.
Integrating consistent mapping methodologies with high-quality sample collection and documentation will ensure
data reliability and comparability. The ongoing work will provide a more robust and comprehensive dataset, enabling
better-informed analyses and supporting future exploration or research objectives.
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Table 1: 2025 Lotto Program Assay Results**
Sample ID Easting Northing Elevation Au g/t Ag g/t Mo ppm Pb ppm W ppm Zn ppm
G018555 433345.8 5458854 1288 0 0.5 17.9 4 2 79.5
G018607 433332.8 5458792 1284 0 0.5 1.1 6 3 57.5
G018634 432738.1 5457812 1256 0 0.5 105 8 1 78.5
G018635 432679.8 5458609 1326 0 0.5 1.6 59 3 235
G018636 432292.9 5459013 1369 0 0.5 5.3 13 1 90.7
G018637 432072.7 5459128 1399 0 0.6 3.1 36 3 57
G018641 432108.9 5459196 1413 0.04 0.5 5.6 8 21 24.9
**All sample values are from grab samples which by their nature, are not representative of overall metal grades of
mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in the table above.
The seven (7) samples above are part of a suite of sixty-seven (67) samples collected and assayed during the 2025
Lotto Prospecting Program.
Sample Preparation and Analytical Procedures
Rock samples were collected by Palliser field crews with sample locations (in NAD83 UTM Zone 1 1 coordinates),
descriptions, visual characteristics, and photographs recorded in the field. Each sample was assigned a unique sample
ID and placed into a labelled sample bag along with a corresponding sample tag. Samples were stored securely during
the Program and transported directly by Palliser personnel to AGAT Laboratories in Calgary, Alberta for sample
preparation and geochemical analysis. AGAT Laboratories is accredited to ISO 9001:2015 ISO/IEC 17025 for specific
analytical methods.
The following sample preparation, analysis, and quality assurance and quality control methods were performed:
- Dry <5kg, Crush to 75% passing 2mm, split to 250g (method code 200-075)
- Pulverize to 85% passing 75 microns (method code 200-087)
- Metals by 4 Acid Digest, Inductively Coupled Plasma-Optical Emission Spectrometry (ICP-OES) (201-070)
- Gold (Au) by fire assay (202-551)
- If Au >10g/t, run gravimetric 202-564
- If Metals were above upper detection limit, ran overlimit 4 Acid Digest, ICP-OES or ICP-Mass Spectrometry (MS)
- A Certified Reference Material or Blank was inserted at a frequency of 1 in 10 samples.
A minimum of two (2) Maxus personnel received all AGAT Laboratories assay certificates.
Qualified Person Statement
The scientific and technical information contained in this news release has been reviewed, verified, and approved by
Morgan Verge, P.Geo., VP Exploration of the Company and a “qualified person” as defined in NI 43-101 – Standards
of Disclosure for Mineral Projects. Ms. Verge has examined information regarding the historical exploration at the
Project, which includes a review of the historical sampling, analytical, and procedures underlying the information and
opinions contained herein.
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About Maxus Mining Inc.
Maxus Mining Inc. (CSE: MAXM | FRA: R7V) is a mineral exploration company focused on locating, acquiring, and, if
warranted, advancing economic mineral properties in premier jurisdictions. The Company is actively progressing its
diversified portfolio totaling approximately 15,098 hectares of prospective terrain across British Columbia, Canada.
The Portfolio includes 8,920 hectares across three antimony projects, anchored by the Flagship Alturas Antimony
Project, where a recent discovery returned high-grade naturally occurring antimony up to 69.98% Sb¶. The Hurley
Antimony Project, located adjacent to Endurance Gold Corp.’s Reliance Gold Project, where 2024 drilling reported
19.2% Sb and 2.16 g/t Au over 0.5 m‖, and the Quarry Antimony Project, which hosts historical polymetallic samples
grading 0.89 g/t Au, 3.8% Cu, 0.34% Zn, 42.5% Pb, 0.65 g/t Ag, and 20% Sb‡.
Maxus’ portfolio further includes the 3,054-hectare Lotto Tungsten Project, where a selected 1980 grab sample from
a scheelite-bearing quartz vein assayed 10.97% WO₃§, and the 3,123-hectare Penny Copper Project, which has over
100 years of recorded exploration. Recent work programs at Penny included rock sampling and geological mapping†,
with 2017 sampling returning copper values of 1046 ppm Cu (TK17-149c), 1808 ppm Cu (TK17-28), and 2388 ppm Cu
(TK17-12)†. The Project is strategically located near the historic Sullivan Mine at Kimberley, British Columbia, an area
that continues to attract significant exploration activity.
Maxus Mining is committed to advancing its British Columbia projects through targeted exploration programs
designed to unlock value across multiple critical mineral systems.
References
1 MINFILE No: 082FSW228 – Loto 3 Showing, 1980 Grab Sample Link
2 MINFILE No: 082ESE162 – Midas Showing Link
On Behalf of the Board of Directors
Scott Walters
Chief Executive Officer, Director
+1 (778) 374-9699
Disclaimer for Forward-Looking Information
This news release includes certain “Forward-Looking Statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and “forward-looking information” under applicable Canadian securities laws.
When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”,
“may”, “would”, “could”, “schedule” and similar words or expressions, identify forward -looking statements or
information.
Forward-looking statements and forward-looking information relating to any future mineral production, liquidity,
enhanced value and capital markets profile of Maxus’, future growth potential for Maxus and its business, and future
exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and
opinions, which are based on management’s experience and perception of trends, current conditions and expected
developments, and other factors that management believes are relevant and reasonable in the circumstances, but
which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of copper,
gold, tungsten, antimony and other metals; costs of exploration and development; the estimated costs of development
of exploration projects; Maxus’ ability to operate in a safe and effective manner and its ability to obtain financing on
reasonable terms.
This news release contains “forward-looking information” within the meaning of the Canadian securities laws.
Statements, other than statements of historical fact, may constitute forward looking information and include, without
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limitation, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals, or
future plans with respect to the Project; further exploration work on the Project in the future; expected benefits from
conducting the Program. With respect to the forward-looking information contained in this news release, the Company
has made numerous assumptions regarding, among other things, the geological, metallurgical, engineering, financial
and economic advice that the Company has received is reliable and are based upon practices and methodologies which
are consistent with industry standards. While the Company considers these assumptions to be reasonable, these
assumptions are inherently subject to significant uncertainties and contingencies. Additionally, there are known and
unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or implied by the forwa rd-looking
information contained herein. Known risk factors include, among others: fluctuations in commodity prices and currency
exchange rates; uncertainties relating to interpretation of well results and the geology, continuity and grade of copper,
gold, tungsten, antimony and other metal deposits; uncertainty of estimates of capital and operating costs, recovery
rates, production estimates and estimated economic return; the need for cooperation of government agencies in the
exploration and development of properties and the issuance of required permits; the need to obtain additional
financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of
delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated
program milestones; uncertainty as to timely availability of permits and other governmental approvals; increased costs
and restrictions on operations due to compliance with environmental and other requirements; increased costs affecting
the metals industry and increased competition in the metals industry for properties, qualified personnel, and
management. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the
Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce
the result of any revisions to any of the forward-looking information contained herein to reflect future results, events
or developments, except as required by law.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.