Maxam Signs Agreement to Recover Precious Metals from a Producing Sand and Gravel Operation

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For Immediate Release

Maxam Signs Agreement to Recover Precious Metals from a Producing Sand and Gravel Operation

ILLINOIS, EAST PEORIA, May. 7 -/E-Wire/-- Maxam today announced the signing of an agreement to recover precious metals from a producing sand and gravel operation in the southwestern U.S. Maxam has completed preliminary testing and confirmed the presence of gold in the alluvial sediments. Maxam will initiate a pilot test program to evaluate recovery equipment, finalize operating procedures for the site, and establish a grade and economic projections for the alluvial material. This agreement compliments recent announcements pertaining to sand and gravel operations.

Maxam will announce results of the pilot program concurrent with expansion to a full scale operation. President John Yellich stated, " This test program will allow Maxam to evaluate operating equipment and procedures expected to be used on this project and on the Maxam leased sand and gravel property".

CEO Dale Runyon reiterated that Maxam Directors and Officers are actively evaluating all opportunities as an expansion of the Maxam business focus to meet a changing business climate. Runyon further stated, "These changes are meant to stimulate synergy with our existing experience in precious metal recovery while increasing shareholder value and generating near term cash flow".

FORWARD LOOKING STATEMENT

Statements contained herein, or elsewhere, are based on current expectations 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 issues, and other governmental changes and considerations.

Maxam Gold Corporation

http://www.maxamgold.com

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