Maximus Resources Limited announced results from a 4,100m Reverse Circulation (RC) programme at Wattle Dam Gold Project targeting the Golden Orb/S5 trend. The 26-hole drill programme was designed to test mineralisation controls and gaps in legacy drilling south of Wattle Dam Gold Mine, along the S5/Golden Orb corridor and following up previous mineralised zones. Significant gold mineralisation intersected with high-grade intervals within broad zones of mineralisation.

Results include: 11m @ 3.8 g/t Au from 37m; incl. 1m @ 11.5 g/t Au from 38m, 1m @ 9.0 g/t Au from 42m and 1m @ 4.3 g/t Au from 44m (RBRC039) - 20m @ 1.3 g/t Au from 160m; incl. 8m @ 2.5 g/t Au from 166m and 3m @ 4.4 g/t Au from 170m (WDSRC010) - 3m @ 4.2 g/t Au from 20m; incl.

1m @ 9.6 g/t Au from 21m (GORC068) - 100m @ 0.8 g/t Au from 90m; incl. 5m @ 2.3 g/t Au from 94m and 7m @ 3.5 g/t Au from 156m (GORC064) - 22m @ 1.1 g/t Au from 38m; incl. 2m @ 4.5 g/t Au from 38m incl.

1m @ 7.6 g/t Au from 38m and 1m @ 1.5 g/t Au from 59m (RBRC037) - 19m @ 0.9 g/t Au from 20m; incl. 4m @ 1.4 g/t Au from 27m and 3m @ 2.0 g/t Au from 36m and 2m @ 2.4 g/t Au from 36m (S05RC011) - 21m @ 1.0 g/t Au from 100m; incl. 4m @ 3.0 g/t Au from 117m and 1m @ 0.7 g/t Au from 120m (RBRC036A).

e completed drill programme demonstrates the potential to significantly increase the scale of Wattle Dam. Due to the proximity of the Golden Orb/S5 mineralisation to the Redback Deposit, the scope of Mineral Resource Estimate work has been expanded to include a new larger pit design. Wattle Dam - Forward Plan: With the positive drill results, the Company will incorporate the Golden Orb, S5 and Redback gold mineralisation for a combined Wattle Dam South Mineral Resource Estimate.

The Company expects the Resource Estimate to be completed during December 2022. The Company has commenced metallurgical test work on representative composite samples across the Wattle Dam, focusing on replicating typical gold processing conditions found in the Western Australian goldfields. Results from the metallurgical test work will define processing requirements for the ores as a precursor to negotiating toll-treating agreements with several gold processing plants within 70km of the Wattle Dam.