Maxus Mining Announces Closing of Flow Through Private Placement

VANCOUVER, British Columbia, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Maxus Mining Inc. (“Maxus” or the “Company”) (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 (each, a “FT Share”) at a price of C$1.10 per FT Share for gross proceeds of C$2,600,500.10 (the “Offering”). 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) (the “Qualifying Expenditures“) 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.