Maxus Mining Highlights High-Grade Antimony Potential at the Alturas West Project in British Columbia

VANCOUVER, Nov. 03, 2025 - Maxus Mining Inc. ("Maxus" or the "Company") (CSE: MAXM | FRA: R7V), is pleased to provide a summary of exploration highlights on the western block of its flagship Alturas Antimony Project (Please see Figure 1). The Alturas West Block ("Alturas West" or the "Project") is comprised of 899 hectares of prime critical mineral exploration ground in the Slocan Mining Division in British Columbia (Please see Figure 2)¹. The Project hosts the past-producing Alps-Alturas Mine. The Company has completed a comprehensive review of all available historic assessment reports on the Project outlining several historic critical mineral occurrences and prospective antimony exploration potential at Alturas West.

Key Highlights:

• High-Grade Antimony Mineralization: historical grab samples confirmed high-grade Antimony (Sb) grades including samples ALT24-PS-R003, ALT24-JL-R004, and ALT24-JL-R005 returning 69.98% Sb, 67.96% Sb, and 49.98% Sb respectively.²
• Historical Production: approximately 95 tons of high-grade antimony-bearing material was shipped from the historic Alps-Alturas Mine site averaging 57.2% Sb, including 24.5 tonnes of material grading 50-60% Sb.³

• Prime Jurisdiction & Location: Alturas West is road accessible, strategically located in the historically significant Slocan Mining Division, north of the significant past-producing Silvana Mine.¹
  

Scott Walters, Chief Executive Officer of the Company, commented, "The identification of a 1.7-kilometre antimony trend through historic sampling marks an important milestone for our team. This discovery positions the Project as a compelling opportunity within Canada's growing critical minerals landscape, and we look forward to advancing exploration to define the full scope of this mineralized system."

Figure 1: Alturas Project Map

About the Alturas West Block

The Company recently expanded Alturas West by 239% through a strategic acquisition from Equinox Resources. As a result of this expansion, the Company added the past-producing Alps-Alturas Mine (Please see Figure 2).

The historical Alps-Alturas Mine saw approximately 95 tonnes of cumulative production at an average grade of 57.2% Sb.² South of the Alps-Alturas Mine, the Project covers more than two kilometres of a significant east-west trending reactivated shear zone hosting disseminated pyrite and argentiferous tetrahedrite, with minor stibnite and chalcopyrite (Please see Figure 2).² Prior to the Company's expansion of Alturas West, Equinox Resources recently discovered massive stibnite in quartz veins along this largely un-tested structural trend, returning high-grade antimony values in rock chip samples up to 69.98%.²

A 4-kilogram sample of dumped material from a historic adit on the Project assayed 1.3 ppm Au and 1,596 ppm Ag in the Dolly Varden Prospect area (Please see Figure 2).⁴ The Dolly Varden Prospect warrants follow-up exploration due to its description in the 1928 Minister of Mines Annual Report as a 1.2m quartz vein hosting disseminated to massive stibnite within (or associated with) serpentinite ultramafic rock locally altered to listwanite (quartz-carbonate-mariposite).⁵

Historic surface rock chip sampling in 1990 on the Project outlined outstanding antimony potential over 1.7 km along the major shear zone on the Project in addition to potential across strike up to 700m. Two rock samples along the main structure were mineralized with stibnite (Sb₂S₃), and assayed over 1,000ppm Sb (Please see Figure 2).⁶

Anomalous gold values are positively correlated with higher arsenic values, indicating arsenic could be used as a pathfinder mineral along trend. Geochemical assay results also reveal an association between silver, copper, and antimony, possibly due to tetrahedrite ((Cu,Fe,Zn,Ag)₁₂Sb₄S₁₃) mineralization.⁶ Figure 2 illustrates the locations of significant historical results and key geological features. Table 1 contains a summary of the significant results.

Figure 2: Alturas West Historic Highlights Map

Table 1: Alturas West Historic Surface Sampling Highlights

Source: Kidlark, R., 1990. Geological and Geochemical Sampling Report on the LEIF Property, Slocan Mining Division. ARIS Report 20939.

Qualified Person Statement

The scientific and technical information contained in this news release has been reviewed, verified, and approved by Morgan Verge, P.Geo., Technical Advisor 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.

References

¹ Höy, T., 2016. Technical Report on the Slocan Silver Camp, Sandon, British Columbia for Klondike Silver Corp.

² 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

³ Alps-Alturas MINFILE - https://minfile.gov.bc.ca/Summary.aspx?minfilno=082KSW049

⁴ Dolly Varden Prospect MINFILE --https://minfile.gov.bc.ca/summary.aspx?minfilno=103P%20%20188

⁵ 928 Minister of Mines Annual Report

⁶ Kidlark, R., 1990. Geological and Geochemical Sampling Report on the LEIF Property, Slocan Mining Division. ARIS Report 20939.

† 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/

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^?.

On Behalf of the Board of Directors

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

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; further exploration work on the Project in the future. 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 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.

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