Maxam Acquires Exclusive North American Rights to New Acid Replacement Leach Technology for the Mining Industry

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FOR IMMEDIATE RELEASE

Maxam Acquires Exclusive North American Rights to New Acid Replacement Leach Technology for the Mining Industry

ILLINOIS, EAST PEORIA, Apr. 9 -/E-Wire/-- Maxam Gold Corporation (MXAM) announced today that it has acquired exclusive rights in North America for High Tech Health Inc.'s (Boulder, CO) Electro-Chemical process to produce Super Oxide Water for use in mining related industries.

The Agreement includes the processing of Fly Ash. Maxam's progress in removal of detrimental elements contained in Fly Ash was announced on March 6, 2002.

Consultants advise that Electro-Chemically altered water has potential application as a reagent to replace any type of acid in the leaching of ore and Fly Ash. This technology has been used in Japan for over 10 years in numerous industrial applications, particularly in medical and agricultural environments.

Maxam has successfully laboratory tested Super Oxide Water as an Acid Replacement to leach gold from its Peoria Seven ore body, and is arranging for a pilot test to prove the feasibility of using Super Oxide Water as an Acid Replacement in Maxam's Leach process when leaching Fly Ash.

This Electro-Chemical process takes TAP WATER and splits it into two streams.

1. The oxidizing side to a pH of 2.3 with an ORP of 1,100mv

2. The reducing side to a pH of 11.5 with an ORP as low as

A significant aspect of the Super Oxide Water is that when it is exposed to the environment, it reverts to environmentally friendly water.

Potential benefits in using Super Oxide Water are many.

1. Lower construction capital costs.

2. Fewer or no Acid storage challenges.

3. Fewer OSHA compliance requirements.

4. Shorter permitting time.

5. Potentially lower processing costs.

Dale L. Runyon, Maxam's President and CEO, states that there are other recovery and refining applications when acid is used in conventional mining operations where Super Oxide Water may bring about many opportunities for Maxam.

FORWARD LOOKING STATEMENT

Statements contained herein, or elsewhere, are based on current expectations and are considered Forward Looking. Maxam management is optimistic about Maxam's long-range prospects, but actual results could differ materially. The following issues and uncertainties, and others, must be considered in evaluating growth outlook: changes in technology, investment cycles, prices of metal, cost of revenues, sales and marketing successes, competitive issues, litigation, environmental and other governmental changes and considerations, economic conditions, and company management's successes.

Maxam Gold Corporation

Dale Runyon, 309/699-8725,

http://www.maxamgold.com

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