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Maxam Gold Corporation Announces Plans for Gold Ore Testing

Posted on: Monday, 3 April 2006, 09:00 CDT

Maxam Gold Corporation President and CEO Richard G. Steeves today announced that Maxam Gold Corporation (Maxam) will be performing gold ore extraction tests on its inventory of gold ore samples. The gold ore samples were taken from Maxam's Arizona gold claim properties. Performing these tests will be Mr. Ish Grewal, Metallurgical Process Engineer at the Vancouver, British Columbia lab facility. The initial gold ore testing was conducted at Maxam's Arizona lab over a several year period.

The gold ore testing at the new Vancouver lab facility will not only serve to bring all Maxam's gold ore data up to date, but more importantly, Maxam expects improved accuracy and confidence will result by performing these tests at the new state of the art Vancouver laboratory. The lab is currently performing a series of tests on coal fly ash. Once current tests are complete, the Maxam ore tests can begin.

Commenting on the timing of Maxam's process, Maxam President and CEO Richard G. Steeves said, "...several years ago at the time Maxam developed its patent pending extraction process, gold was trading at $250.00 an ounce. With gold now at 25 year highs, currently $584.00 an ounce, it is easy to see why both management and shareholders are all quite excited at the potential of Maxam's gold claim properties. And that's just looking at only the gold, most if not all of the other precious and semi-precious metals have reached multi-decade record prices. Maxam couldn't have picked a better time to commercialize our extraction process."

ABOUT MAXAM GOLD CORPORATION (Pink Sheets:MXAM)

Maxam Gold Corporation engages in the acquisition, exploration, and mining of gold and other precious and semi-precious metals. The company was founded in 1974 and its principle property, located south of Gila Bend, Arizona, holds 640 acres of Maxam's and related company's gold claims. Originally developed by Maxam to provide an environmentally preferred alternative to the direct acid leaching method for gold extraction, Maxam's patent-pending extraction process was also found extremely effective at extracting precious metals, base metals and toxic elements contained in the bottom ash and fly-ash by-products of coal combustion. Maxam's selection of Xcentia Mining LLC and Xcentia Energy LLC as a partner in the mining and coal ash process commercialization is a critical step that capitalizes on the vast industry specific experience possessed by Xcentia's management team.

SAFE HARBOR STATEMENT

Some statements contained in this and/or other Company correspondence are to be considered "Forward-Looking Statements" as defined under the Private Securities Litigation Reform Act of 1995. Actual results from the above disclosures could differ materially from projection, as results from the above disclosures could differ materially from projection, as results from economic factors, geological factors, operations factors, government regulations, environmental factors, or factors relied upon from independent sources, may either negatively or positively impact progress. These risks include, but are not limited to: The ability to motivate key employees; timely development, production and acceptance of products and services into distribution channels; maintaining expense factors in acceptable levels with revenues and/or funding growth; and other risks that time to time may occur.

Source: Business Wire

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