Maxus Mining Unlocks Value at Silver-Rich Quarry Project with Completion of Historical Drillhole Compilation & Analysis of Historical Estimate
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Maxus Mining Unlocks Value at Silver-Rich Quarry Project with
Completion of Historical Drillhole Compilation & Analysis of Historical
Estimate
February 05, 2026
Vancouver, B.C. – Maxus Mining Inc. (“Maxus” or the “Company”) (CSE: MAXM | FRA: R7V) is pleased to announce
that it has completed a comprehensive compilation (the “Compilation”) of all available historical drillhole data for the
Company’s Quarry project (the “Property” or “Project”) located in British Columbia, Canada (Please see Figure 1). The
Company will now begin detailed geological review and interpretation of this dataset, which will be integrated with
the upcoming VTEM airborne geophysical survey expected to be completed in the coming weeks. Together, these
datasets will be instrumental in fast-tracking the Project towards upgrading the historic Bullseye Zone estimate to NI
43-101-compliant mineral estimates.
Quarry Project Highlights
• Historic drilling returned averages of:
o 23.6 m of 1.83% Pb, 2.82% Zn and 56.2 g/t Ag in hole 77-111
o 13.0 m of 0.65% Pb, 2.58% Zn, and 42.5 g/t Ag in hole 78-251
o 6.91 m of 2.42% Pb, 2.43% Zn, and 87.7 g/t Ag in hole 80-662
o 3.81 m of 1.00% Pb, 3.19% Zn, and 43.5 g/t Ag in hole 80-762
• Historic Silver, Lead, and Zinc Estimates of the Bullseye Zone (NI 43-101 non-compliant):
o 99,781 tonnes @ 1.42% Pb, 2.24% Zn, 36.3 g/t Ag (drill-indicated)3
o 2.72 Mt @ 3.66% Pb + Zn, 36.3 g/t Ag (original category not classified, three zones)3
o Historical block estimate, parameters unknown
o Please see paragraph below (Comments on Reliability of Historical Estimate)
• Cost-Effective Advancement: Following the completion of historical data compilation, the Company is
actively interpreting and modeling subsurface geology and mineralization (Please see Figure 2), aiming to
quickly and effectively advance the Project towards modern exploration and mineral resource-focused
drill programs.
• Strategic Location: The Project is situated twenty-eight (28) km northwest of Germansen Landing, British
Columbia, within favourable carbonate and dolomite breccia host rocks.
“The Project hosts a compelling critical metals system with meaningful silver, lead, and zinc mineralization
demonstrated by historical drilling,” said Morgan Verge, P.Geo., Vice President of Exploration at Maxus . “By
compiling and validating the historic drill database and integrating it with our forthcoming airborne survey, we are
positioning the Project to rapidly refine targets and advance the Bullseye Zone toward a modern NI 43-101-compliant
resource.”
Comments on Reliability of Historical Estimate
The historical estimate for the Property is sourced from Property File PF40196, Suzie Mining Explorations Ltd.
Newsletter No. 17, prepared by Keith C. Fahrni, P.Eng., and dated July 14, 1978. The estimate is historical in nature
and does not include the parameters or categories required under current CIM Definition Standards. There are no
directly comparable CIM categories that can be attributed to this estimate, and to the knowledge of the Qualified
Person (“QP”), no modern mineral resource or reserve estimates exist for the Property. A QP has not completed
sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and the Company
is not treating the historical estimate as current mineral resources or mineral reserves.
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Work required to upgrade and verify the historical estimate includes a desktop compilation of historical drill data,
confirmatory/twin drilling at appropriate spacing, specific-gravity (“SG”) testing by domain, modern analytical QA/QC
with check assays, validation of collar locations and downhole surveys, development of a 3D geological/grade model,
and QP verification to CIM standards.
Figure 1: Quarry Project Highlighting Historical Showings and Locations of Significant Polymetallic Mineralization at the Bullseye
Zone.
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Figure 2: Cross Section of the Bullseye Zone Highlighting Historical Ag-Pb-Zn Mineralization Zones.
Quarry Project Historical Summary
Historical work at the Project has outlined multiple zones of base metal and precious metal mineralization. Historical
grab sampling at the Regent mineral occurrence from a massive galena-bearing vein system returned average assays
of 83.5% Pb and 1,576 g/t Ag.4 Additional historical grab samples reported values including 20% Sb, 42.5% Pb, 3.8%
Cu, 0.89 g/t Au, and 0.34% Zn, as well as 0.29% Sb, 21.1% Pb, 0.23% Cu, 0.39 g/t Au, 583 g/t Ag, and 0.57% Zn.5
Within the Bullseye Zone, historic estimates reported 99,781 tonnes grading 1.42% Pb, 2.24% Zn, and 36.3 g/t Ag
(drill-indicated), as well as 2.72 Mt grading 3.66% Pb + Zn and 36.3 g/t Ag (original category not classified, three
zones) (Please see disclosure below).3
As part of the Company’s initiative to complete a historic drillhole compilation across its entire property portfolio,
these drillholes have been incorporated into the Company’s 2D and 3D workspaces and will be incorporated into a
drillhole database in coming weeks.
Figures 1 and 2 outline the locations of these highlights across the Property.
Qualified Person Statement
The scientific and technical information contained in this news release has been reviewed, verified, and approved by
Morgan Verge, P.Geo., Vice President of Exploration of the Company and a “qualified person” as defined in NI 43-101
– Standards of Disclosure for Mineral Projects (“NI 43-101”). 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
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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.
The “Historic Estimate” described above fall under the NI 43-101 definition of a “historic estimate” meaning that the
calculations were prepared prior to the February 1st, 2001, implementation of NI 43-101 and therefore do not conform
to NI 43-101 standards. No NI 43-101 compliant resource estimates exist to date on the Property.
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 is committed to advancing its British Columbia projects through targeted exploration programs designed to
unlock value across multiple critical mineral systems.
References
1 Fahrni, K.C., 1978. Suzie Mining Explorations Ltd. Report to Support Assessment Work Recorded on Carol 1, Carol 2,
Carie E and Carie W Groups
2 Coveney, C.J., 1981. Gold Leaf Mining Explorations Ltd. Report on the Beveley Property (Wasi Lake Project)
3 Fahrni, K.C., 1978. Property File PF40196, Suzie Mining Explorations Ltd, Newsletter #17, July 14, 1978
4 Regent Minfile – https://minfile.gov.bc.ca/Summary.aspx?minfilno=094C%20%20038
5 Open File 1992-11, Map Number 10
¶ Equinox Resources – November 8, 2024, ‘Ultra High Grade Naturally Occurring Antimony at Alturas Project with
Assays up to 69.98% Sb’ – https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-
02878498-6A1236703
‖ 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 - https://endurancegold.com/news-
releases/endurance-summarizes-antimony-results-from-the-reliance-gold-project-bc-best-intervals-include-19.2-
antimony-and-2.16-ppm-au/
‡ Open File 1992-11, Map Number 10.
§ MILFILE No: 082FSW228 – Loto 3, 1980 Grab Sample –
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https://minfile.gov.bc.ca/report.aspx?f=PDF&r=Inventory_Detail.rpt&minfilno=082FSW228
† 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 rel ease, 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 tre nds, 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 r espect to the Property and its
mineralization potential; the Company’s objectives, goals, or future plans with respect to the Property; further exploration work on the Property in
the future; expected benefits of the Compilation. 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 a dvice 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 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 ex ploration 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 constru ction 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 affecti ng 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 obl igation 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.