Maxus Mining acquires Alturas property

Mr. Scott Walters reports MAXUS MINING ACQUIRES FLAGSHIP ALTURAS ANTIMONY PROJECT Maxus Mining Inc. has entered into a property option agreement with Equinox Resources Ltd. to acquire a 100-per-cent interest in the Alturas antimony project, located proximal to the historical high-grade Alps-Alturas antimony mine in British Columbia's Slocan mining division. The project includes five claims covering approximately 634 hectares, with historical production at the Alps Altura mine averaging 57.2 per cent antimony (Sb) and historical grades reaching up to 59.5 per cent Sb. With this new acquisition effectively expanding the west block of the company's existing Altura project, Altura has been renamed the Alturas antimony project, comprising two blocks, Alturas West and Alturas East, totalling 1,748 hectares. Acquisition highlights: Bolstered critical minerals portfolio: Maxus's critical mineral portfolio expanded through strategic acquisitions, and now includes three antimony projects, one tungsten project and one copper project. High-grade antimony at the flagship Alturas antimony project: Historical records indicate shipped ore from the Alturas antimony project averaged 57.2 per cent Sb, with peak grades reaching up to 59.5 per cent Sb. High-grade rock chip samples: Rock chip samples confirmed ultrahigh-grade antimony grades, including samples ALT24-PS-R003, ALT24-JL-R004 and ALT24-JL-R005, returning 69.98 per cent Sb, 67.96 per cent Sb and 49.98 per cent Sb, respectively. 95 tons of high-grade ore: Approximately 95 tons of high-grade ore were directly shipped from the historic Alps-Alturas mine site, including 24.5 tonnes of antimony ore grading 50 to 60 per cent Sb. Cumulative production estimated at 95 tonnes, averaging 57.2 per cent Sb. With the addition of the flagship Alturas antimony project, the company's portfolio now comprises 14,989 hectares of prospective land, including three antimony projects totalling 8,812 hectares, the Lotto tungsten project covering 3,054 hectares and an additional 3,123 hectares of land on the Penny copper project. The company has recently announced increased critical mineral landholdings at the Quarry, Hurley and Alturas (formerly Altura) antimony projects, and the Lotto tungsten project. Scott Walters, chief executive officer of the company, commented: "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. Looking ahead, we are eager to unlock Alturas's potential through our next phase of exploration efforts. Our technical team and partners look forward to unveiling more information at the Alturas project as we remain committed to progressing our portfolio." Alturas antimony project highlights Located 15 kilometres (km) northeast of New Denver, the project sits within the historic Slocan mining district, an area long recognized for silver, lead, zinc and antimony production. The project hosts a 1,300-metre (m) mineralized corridor, where quartz veins containing stibnite (Sb2S3) mineralization are present within a shear zone separating metamorphic and serpentine schist units. The geological framework, characterized by Jurassic-aged intrusive bodies, underscores strong potential for polymetallic deposits. With direct access to sealed roads, rail connections and proximity to the port of Vancouver, the project benefits from excellent infrastructure and is strategically positioned for future development. To assist with precise terrane mapping, structural interpretation and drill planning across the 1.5 km mineralized shear zone that hosts the historic high-grade Alps-Alturas mine, Equinox Resources is currently in the process of completing a high-resolution lidar (light detection and ranging) survey on the project. Maxus Mining exploration plans In the coming months, the company plans to drive ahead exploration efforts, including: Integrative targeting and drill planning through compiling lidar, geochemical, structural and IP (induced polarization) data into a 3-D GIS environment to prioritize drill targets; Ground reconnaissance of the newly acquired ground and the Altura East block; Generating metallurgical and commercial grade data to assess potential for direct shipping ore (DSO) sales or pilot-scale processing following Equinox Resources' submission of a notice of work for the staged extraction of up to 10,000 tonnes of mineralized material; Maiden drilling subject to the outcome of the outlined work could be launched as early as Q4 (fourth quarter) 2025. Strong indigenous engagement In support of pro-active and respectful engagement with local indigenous groups and regulators, Equinox Resources, in collaboration with its permitting adviser, Ridgeview Resources, has completed a comprehensive consultation process with four first nations groups, including the Shuswap Band, Okanagan Indian Band, Ktunaxa Nation Council and Splatsin. Addressing concerns around wildlife, land access and cultural heritage, Equinox Resources provided formal written responses to each nation. Fittingly, these issues were incorporated into a revised work management and mitigation plan (WMMP), and, where relevant, co-ordinated with British Columbia's Recreation Sites and Trails Branch to reduce potential overlap with recreational trails. The company is pleased to note that several nations have expressed interest in continuing participation in the project through indigenous-owned enterprises. Option agreement details On Sept. 17, 2025, the company entered into the agreement to acquire the exclusive option from the optionor to earn a 100-per-cent interest in the project through a combination of a cash payment and a common share issuance, as follows: $300,000 in cash, on or before the date that is 15 business days after the effective date; $400,000 of common shares in the capital of the Maxus, at a deemed price per common share equivalent to the volume-weighted average closing price of the common shares on the Canadian Securities Exchange in the 20 trading days immediately prior to issuance, on or before the first anniversary of the effective date. Pursuant to the agreement, the consideration shares will be subject to resale restrictions and released over a 24-month period. All securities issued in connection with the agreement will be subject to a statutory hold period of four months and one day. No finders' fees were paid on this arm's-length agreement. Market-maker engagement The company has engaged the services of Independent Trading Group (ITG) pursuant to an agreement dated Sept. 18, 2025, to provide market-making services in accordance with Canadian Securities Exchange policies. ITG will trade shares of the company on the CSE and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the company's common shares. Under the terms of the ITG agreement, ITG will receive compensation of $5,000 per month, payable monthly in advance. The ITG agreement is for an initial term of one month and will renew for additional one-month terms unless terminated by either party with 30 days of notice. There is no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the company are unrelated and unaffiliated entities and at the time of the ITG agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the company. ITG is a Toronto-based CIRO dealer-member that specializes in market-making, liquidity provision, agency execution, ultralow-latency connectivity and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high-quality liquidity provision and execution services to a broad array of public issuers and institutional investors. Qualified person statement The scientific and technical information contained in this news release has been reviewed, verified and approved by Morgan Verge, PGeo, technical adviser of the company and a qualified person as defined in National Instrument 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, and 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 continuing 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. About Maxus Mining Inc. Maxus Mining is a mineral exploration company focused on locating, acquiring and, if warranted, developing economic mineral properties in premier jurisdictions. The company is working toward progressing its diverse portfolio of exploration properties, which includes approximately 14,989 hectares of prospective terrane comprising 8,812 hectares among three antimony projects, 3,123 hectares encompassing the Penny copper project and 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-plus 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, B.C., 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 parts per million (ppm) copper (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 gold (Au), 3.8 per cent Cu, 0.34 per cent zinc (Zn), 42.5 per cent lead (Pb) and 0.65 ppm silver (Ag) and 20 per cent Sb. A selected grab sample taken in 1980 at the Lotto tungsten project from a quartz vein with scheelite assayed 10.97 per cent 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 per cent Sb; Hurley neighbours Endurance Gold Corp.'s Reliance gold project, which saw antimony results from 2024 work programs include 19.2 per cent Sb and 2.16 ppm Au over 0.5 m encountered during the 2024 drilling program. We seek Safe Harbor.