First Drill Hole at St Anthony Gold Mine Reports Near Surface 11.9 grams per tonne over 8.4 metres

VANCOUVER, BC / ACCESSWIRE / July 13, 2021 / Maxtech Ventures Inc. ("Maxtech" or the "Company") (CSE:MVT)(Frankfurt:M1N)(OTC PINK:MTEHF) is pleased to announce assay results from its first diamond drill holes of its Phase One drilling program on the St Anthony gold mine property located in the Kenora-Patricia Mining District, Ontario.

Highlights:

• Hole SA21-15 recorded two instances of visible gold during logging of the core. The upper interval of visible gold reported an assay of 45.2 grams per tonne over 0.48 m with a weighted average composite of 11.9 grams per tonne over 8.4, from 121.4 to 132.0 m, included shoulder samples assaying up to 2.29 and 4.09 grams per tonne.
• The upper interval corresponded to the gold zone historically referred to Zone #2.
• The lower interval of the same hole reported an assay of 41 grams per tonne over 1 m with a weighted average composite of 6.9 grams per tonne over 10 m, from 164 m to 174 m included shoulders assays of up to 7.44 grams per tonne.
• Hole SA21-15 was spotted to twin historical drill hole 10-12-SA and the twinned hole was better than expected.
• Maxtech is planning a Phase II 10,000 m drill program based on the strong initial results of the current Phase 1 program consisting of 5,000 m.

Update on the program:

• Assays are pending for the next five holes, which were planned for resources delineation to increase confidence.
• The second and final twinned hole of Phase 1 assays are also pending.
• The eighth hole and most recent drill hole, SA21-21, was abandoned, after intersecting visible gold, due to poor ground conditions around historical underground workings. The proposed hole was repositioned and a second attempt is underway to reach target depth.
• More than 1,000 drill core samples have been sent to ALS Global Laboratories (ALS Global).

The two main zones at St. Anthony consist of Zone 1 and Zone 2. Zone 1 is broadly defined over a strike length of 350 metres, with a minimum depth of 200 metres and a true width averaging about 8 metres, based on past production. Historical production focused solely on the vein material and not the adjacent mineralized wallrock.