Maxus Mining Inc. (CSE: MAXM) (FRA: R7V), is pleased to announce the closing of its non-brokered private placement, announced October 29, 2025, for an aggregate of 2,364,091 flow-through shares of the Company at a price of C$1.10 per FT Share for gross proceeds of C$2,600,500.10. The Company intends to use the proceeds from the Offering towards exploration on the Company’s project portfolio.

Each FT Share consists of one (1) common share of the Company issued as a “flow-through share” within the meaning of the Income Tax Act (Canada). The gross proceeds from the sale of the FT Shares will be used by the Company to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) related to the Company’s projects in Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2025.

In connection with the closing of the Offering, the Company paid an aggregate of $155,700 in cash finder’s fees to GloRes Securities Inc. All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day.

The securities issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Maxus Mining Inc.

Maxus Mining Inc. (CSE: MAXM) (FRA: R7V) is a mineral exploration company focused on locating, acquiring, and if warranted, developing economic mineral properties in premier jurisdictions. The Company is working towards progressing its diverse portfolio of exploration properties which now includes approximately 15,342 hectares of prospective terrane comprising 9,165 hectares amongst three antimony projects, 3,123 hectares encompassing the Penny Copper Project & the remaining 3,054 hectares comprising the Lotto Tungsten Project.

The Penny Copper Project covers approximately 3,123 hectares and has seen exploration activity throughout the last 100+ years with recent work including rock sampling and minor geological mapping^†. The Penny Copper Project is located near the major past producing Sullivan Mine at Kimberley, British Columbia, an area that has stimulated both junior and major exploration company activities in the past year. Additionally, the Penny Copper Project saw a 2017 work program return 17 grab samples, which returned copper values up to 1,046 ppm Cu (TK17-149c), 1,808 ppm Cu (TK17-28) and 2,388 ppm Cu (TK17-12)^†.

At the Quarry Antimony Project, in well-established British Columbia, Canada, one historical sample taken assayed 0.89 ppm Au, 3.8% Cu, 0.34% Zn, 42.5% Pb, and 0.65% ppm Ag and 20% Sb^‡. A selected grab sample taken in 1980 at the Lotto Tungsten Project from a quartz vein with scheelite assayed 10.97% WO₃^§. Additionally, the Alturas and Hurley Antimony projects are strategically positioned; Alturas Project had a recent antimony discovery which saw high-grade naturally occurring antimony with assays up to 69.98% Sb^¶; Hurley neighbours Endurance Gold Corp.’s Reliance Gold Project which saw antimony results from 2024 work programs include 19.2% Sb and 2.16 ppm Au over 0.5 m encountered during the 2024 drilling program^‖.

† 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.

‡ Open File 1992-11, Map Number 10.

§ MILFILE No: 082FSW228 – Loto 3, 1980 Grab Sample –

https://minfile.gov.bc.ca/report.aspx?f=PDF&r=Inventory_Detail.rpt&minfilno=082FSW228

¶ 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/

On Behalf of the Board of Directors

Scott Walters
Chief Executive Officer, Director
+1 (778) 374-9699
info@maxusmining.com