Maxus Mining acquires Alturas property

Executive Summary

• Maxus Mining Inc. has entered into a property option agreement with Equinox Resources Ltd. to acquire a 100% interest in the Alturas antimony project in British Columbia, expanding its critical minerals portfolio.
• The acquisition includes historical high-grade antimony data, with shipped ore averaging 57.2% Sb and rock chip samples returning grades up to 69.98% Sb.
• The transaction involves a total consideration of $300,000 in cash and $400,000 in common shares, subject to specific vesting schedules and resale restrictions.

Key Details

• Transaction Structure: Maxus Mining acquired a 100% interest in the Alturas antimony project via an option agreement with Equinox Resources Ltd.
• Asset Details: The project comprises five claims covering approximately 634 hectares, effectively expanding the existing Altura project to 1,748 hectares (Alturas West and Alturas East). It is located in the Slocan mining division, BC, near the historical Alps-Alturas mine.
• Historical Production & Grades:
  • Historical shipped ore averaged 57.2% antimony (Sb).
  • Historical grades reached up to 59.5% Sb.
  • Approximately 95 tons of high-grade ore were shipped, including 24.5 tonnes grading 50-60% Sb.
• Recent Sampling Results: Rock chip samples confirmed ultrahigh-grade antimony:
  • ALT24-PS-R003: 69.98% Sb
  • ALT24-JL-R004: 67.96% Sb
  • ALT24-JL-R005: 49.98% Sb
• Portfolio Expansion: Maxus’s total landholdings now comprise 14,989 hectares, including:
  • Three antimony projects (8,812 hectares)
  • Lotto tungsten project (3,054 hectares)
  • Penny copper project (3,123 hectares)
• Consideration Terms:
  • Cash: $300,000 payable within 15 business days of the effective date.
  • Shares: $400,000 worth of common shares, issued at the volume-weighted average closing price (VWAP) of the CSE over the 20 trading days prior to issuance.
  • Vesting/Restrictions: Consideration shares released over a 24-month period; statutory hold period of 4 months and 1 day applies to all securities.
• Exploration Plans:
  • Completion of high-resolution lidar survey for terrane mapping and drill planning.
  • Integration of lidar, geochemical, structural, and IP data into a 3-D GIS environment.
  • Ground reconnaissance of newly acquired ground and Altura East block.
  • Generation of metallurgical data to assess Direct Shipping Ore (DSO) potential.
  • Equinox Resources submitted a notice of work for staged extraction of up to 10,000 tonnes of mineralized material.
  • Maiden drilling could launch as early as Q4 2025.
• Indigenous Engagement: Comprehensive consultation completed with four First Nations (Shuswap Band, Okanagan Indian Band, Ktunaxa Nation Council, Splatsin). A revised Work Management and Mitigation Plan (WMMP) was incorporated to address wildlife, land access, and cultural heritage concerns.
• Market Maker: Maxus engaged Independent Trading Group (ITG) for market-making services at a cost of $5,000 per month.

Notable Quotes

• Scott Walters, CEO: "We are thrilled to announce the acquisition of the Alturas antimony project, a cornerstone addition to our portfolio. The acquisition of Alturas represents a defining moment for the company as we strengthen our position in critical minerals. Alturas is a high-impact project which carries a strong history of encouraging results and we are proud to be able to drive real value for our shareholders with this acquisition."