Maxus Mining Announces 2025 Exploration Program at its Penny Copper Project
VANCOUVER, British Columbia, July 10, 2025 (GLOBE NEWSWIRE) -- Maxus Mining Inc. (“Maxus” or the “Company”) (CSE: MAXM | FRA: R7V), is pleased to provide a summary of the 2025 exploration program (the “Program”) planned on its Penny Copper Project (the “Penny Property”, or the “Project”) located in British Columbia, Canada.
The Company plans to undertake an airborne mobile magnetotelluric geophysical survey over the Project. Additionally, plans to further investigate mineralized outcrops at the Project identified in past exploration programs have been established. Recently discovered mineralized outcrop remains open in all directions and warrants detailed hand trenching, geological mapping, and systematic sampling to define its extent, geometry, and continuity.
Geochemical surveys conducted in previous exploration programs delineated several extensive multi-element anomalies characterized by elevated concentrations of gold, copper, barium, and zinc.1
Scott Walters, Chief Executive Officer of Maxus, commented, “We are very excited to initiate an airborne mobile magnetotellurics geophysical survey across the Penny Property, alongside a detailed follow-up program at mineral occurrences identified throughout previous exploration programs. Building on previous data, we anticipate new findings will allow further understanding of the Project. We believe this exploration program will provide the Company with essential information to guide future programs.”
Figure 1. Regional Map of the Penny Property
Penny Copper Project
Previous exploration programs identified multiple zones of high-grade copper mineralization, with associated gold, barite, and zinc values. These results highlight the strong mineral potential for the property and warrant further investigation. A newly discovered zone of buried outcrop returned assay results of up to 1,920 ppm Cu, 41 ppb Au, and 1,310 ppm Ba over an approximate strike length of 50 meters. The area surrounding the Project has seen exploration activity throughout the last 100+ years with recent work including rock sampling and minor geological mapping. Recently, a total of seventeen (17) grab samples of iron oxide brecciation, quartz veinlets and fractures with limonite and/or copper, as well as from sedimentary horizons with disseminated copper mineralization were collected from the Project area.
Figure 2. Penny Property Claims proximal to the past producing Sullivan Mine2
Multiple mineralized samples were collected from the Upper and Middle Creston Formation sedimentary horizons. Interbedded and thin lenses of quartzite containing visible bornite, chalcopyrite, and malachite returned copper values up to 1,046 ppm Cu (TK17-149c), 1,808 ppm Cu (TK17-28) and 2,388 ppm Cu (TK17-12). The location of the Project, south of the major past producing Sullivan Mine at Kimberley BC, has stimulated individuals and junior and major exploration company activities in the past year.
Qualified Person Statement
The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., Director of the Company and a “qualified person” as defined in NI 43-101 – Standards of Disclosure for Mineral Projects. The QP has not verified the results and information on neighbouring properties, and this information is not necessarily indicative to the mineralization on the Penny Property that is the subject of the disclosure.
References
1 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.
2 Teck Resources Ltd., Sullivan Mine, https://www.teck.com/operations/canada/legacy/sullivan-mine/sullivan-mine-legacy/#SullivanMineHistory.
3MILFILE No: 082FSW228 – Loto 3, 1980 Grab Sample - https://minfile.gov.bc.ca/report.aspx?f=PDF&r=Inventory_Detail.rpt&minfilno=082FSW228
4Equinox 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
5Endurance Summarizes Antimony Results From The Reliance Gold Project, Bc - Best Intervals Include 19.2% Antimony And 2.16 Gpt 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-gpt-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 includes approximately 7,244 hectares of prospective terrane comprising 3,700 hectares of terrane amongst four antimony projects, 3,120 hectares encompassing the Penny Copper Project & the remaining 422 hectares coming from the Lotto Tungsten Project.
The Penny Copper Project covers approximately 3,122 hectares and has seen exploration activity throughout the last 100+ years with recent work including rock sampling and minor geological mapping1. The Penny Copper Project is located near the major past producing Sullivan Mine at Kimberley, British Columbia2, 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)1.
At the Quarry Antimony Project, in well-established British Columbia, Canada, one historical sample taken assayed 0.89% g/t Au, 3.8% Cu, 0.34% Zn, 42.5% Pb, and 0.65% g/t Ag and 20% Sb. (Open File 1992-11, Map Number 10). A selected grab sample taken in 1980 at the Lotto Tungsten Project from a quartz vein with scheelite assayed 10.97% Wo33. Additionally, the Altura Antimony Project & the Hurley Antimony projects are strategically positioned; Altura is on strike from Equinox Resources recent antimony discovery which saw high-grade naturally occurring antimony with assays up to 69.98% Sb4; Hurley neighbours Endurance Gold Corp.’s Reliance Gold Project which saw antimony results from 2024 work programs include 19.2% Sb and 2.16 g/t Au over 0.5m encountered during the 2024 drilling program5.
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; and completion of the Program. 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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/57746510-c283-4bc3-ba82-aed64bf232cd
https://www.globenewswire.com/NewsRoom/AttachmentNg/7be50e46-23d3-43b7-91c2-d577748700af
Figure 1
Regional Map of the Penny Property
Figure 2
Penny Property Claims proximal to the past producing Sullivan Mine
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