Maxus Mining Announces Maiden Drill Program & Metallurgical Testing at the Alturas West Project in British Columbia, Canada
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Maxus Mining Announces Maiden Drill Program & Metallurgical
Testing at the Alturas West Project in British Columbia, Canada
The Company will execute the first-ever drill program at the historic Alps-Alturas Antimony Mine, following up on
over ninety-five (95) tonnes of historical production averaging 57.2% Sb1
May 7, 2026
Vancouver, B.C. – Maxus Mining Inc. (“Maxus” or the “Company”) (CSE: MAXM | OTCQB: MXMGF | FRA: R7V) is
pleased to outline its planned 2026 exploration program (the “Program”) at the Alturas West Project (“Alturas West”
or the “Project”), located in British Columbia, Canada (Please see Figure 1).
The 2026 Program at Alturas West is designed to systematically advance high-priority targets through a combination
of drilling, surface exploration, and early-stage metallurgical evaluation (Please see Figure 2). In parallel, the Company
is undertaking a regional airborne geophysical program to support targeting across the Project.
“We are excited to advance Alturas West through a focused and disciplined exploration program in 2026,” commented
Scott Walters, Chief Executive Officer of Maxus Mining. “With the addition of airborne geophysical surveys across our
portfolio, we are strengthening our targeting pipeline and improving our ability to prioritize high-quality drill targets.
At Alturas West, integrating geophysics with surface work, drilling, and early-stage metallurgical testing is a key step
toward fast-tracking the Project toward development. By advancing metallurgical understanding early, we aim to
accelerate the potential pathway to production and contribute to establishing a secure, domestic antimony supply for
North America.”
2026 Exploration Program Highlights – Alturas West
• Up to two thousand (2,000) metres of diamond drilling is planned to test high-priority exploration targets and
expand the known historical zones of antimony mineralization;
• Drill targets refined through the integration of newly acquired VTEM data, 2025 prospecting results, and 3D
structural modeling;
• A comprehensive surface sampling Program is planned to refine geological models and generate additional drill
targets; and
• Early-stage metallurgical testing, including ore-sorting studies, are planned to evaluate processing characteristics
and potential cost optimization pathways.
Integration of VTEM Surveys to Enhance Targeting
Maxus has engaged Geotech Ltd. to complete a VTEM airborne electromagnetic survey across the Project.
At Alturas West, the Company plans to integrate VTEM results with historical datasets and recent fieldwork to refine
drill targeting. The geophysical data is expected to improve the understanding of subsurface structures and conductive
zones, supporting the identification and prioritization of high-quality drill targets ahead of the 2026 drill Program.
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Figure 1: Alturas West Project Map
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Figure 2: Alturas West Project Map - drilling will be focused along the mapped shear zone where antimony mineralization is
known to occur.
Focused Advancement at Alturas West
The planned drill program at Alturas West will target the depth and extensions of known mineralization zones
identified through historical exploration and recent fieldwork completed by the Company. Drilling is expected to
provide key insights into the continuity, geometry, and grade distribution of mineralized zones, supporting future
resource development efforts.
In parallel, Maxus will undertake a large-scale sampling campaign across the Project to expand geochemical coverage
and improve targeting. This work is expected to both refine existing targets and identify new zones of interest for
follow-up exploration.
Metallurgical Evaluation and Ore-Sorting Potential
As part of its advancement strategy at Alturas West, Maxus plans to initiate early-stage metallurgical testing on
selected material from surface and at depth from drill holes. This work will include ore-sorting studies to evaluate the
potential for pre-concentration and early waste rejection.
Incorporating ore-sorting, recovery, mineralogy, and metallurgy studies into the early evaluation process aligns with
the Company’s objective of identifying opportunities to enhance project economics through reduced processing costs,
improved feed grades, and more efficient material handling.
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Upcoming Catalysts
• Completion of VTEM surveys across all projects;
• Mobilization of Alturas West Project summer drill Program (up to two thousand (2,000) metres);
• Commencement of surface sampling program at Alturas West; and
• Initial metallurgical and ore-sorting test results.
Community Engagement
Maxus recognizes that meaningful engagement with First Nations within whose territories we operate is a critical
component of responsible exploration. The Company is actively engaging with First Nations communities in advance
of and throughout its 2026 exploration Program at Alturas West, including providing updates on planned drilling and
field activities, discussing potential impacts and identifying opportunities to incorporate community input into project
planning. Maxus is committed to maintaining transparent communication, minimizing environmental and social
disturbance, and building long-term, respectful relationships as exploration progresses.
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.
Management cautions that historical results collected and reported by operators unrelated to Maxus have not been
verified nor confirmed by its Qualified Person; however, the historical results create a scientific basis for ongoing work
at the Project. Management further cautions that historical results, discoveries and published resource estimates on
adjacent or nearby mineral properties, whether in stated current resource estimates or historical resource estimates,
are not necessarily indicative of the results that may be achieved on the Project.
About Maxus Mining Inc.
Maxus Mining Inc. (CSE: MAXM | OTCQB: MXMGF | 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.
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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 Höy, T., 2016. The Slocan Silver Camp, Sandon, British Columbia. Prepared by: Klondike Silver Corp. – Link
2 Equinox Resources – November 8, 2024, ‘Ultra High Grade Naturally Occurring Antimony at Alturas Project with
Assays up to 69.98% Sb’ – Link
3 Alps-Alturas MINFILE – Link
¶ Equinox Resources – November 8, 2024, ‘Ultra High Grade Naturally Occurring Antimony at Alturas Project with
Assays up to 69.98% Sb’ – Link
‖ Endurance Summarizes Antimony Results From The Reliance Gold Project, BC – Best Intervals Include 19.2%
Antimony And 2.16 ppm Au Over 0.5 m In 2024 Drilling – February 24, 2025 – Link
‡ Open File 1992-11, Map Number 10.
§ MILFILE No: 082FSW228 – Loto 3, 1980 Grab Sample Link
† NI 43-101 – Technical Report on the Penny Property British Columbia, NTS 82G/12 49° 55° North Latitude -115° 90°
West Longitude, Derrick Strickland P.Geo., August 14, 2024.
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 limitation, statements with
respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project
and its projects; further exploration work on the Project or other projects in the future; expected benefits of completing the Program;
and completion of 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
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implied by the forward-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.