Maxy Gold Corp.

Maxy Gold Corp.

May 29, 2009 09:00 ET

Maxy Welcomes Hochschild Mining plc as Shareholder

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 29, 2009) - Maxy Gold Corp. (TSX VENTURE:MXD) is pleased to announce that Hochschild Mining plc ("Hochschild") has acquired control of 3,961,600 shares of Maxy through its acquisition of Southwestern Resources Corp., completed May 21, 2009. At approximately 11.5% of the issued capital, this makes Hochschild Maxy's largest single shareholder. Hochschild is a London Stock Exchange listed precious metals mining company with significant mining operations in Peru and Latin America.

Andre Gauthier, Maxy's President and CEO commented, "Hochschild's acquisition of Southwestern's position in Maxy is a very positive development. With Hochschild's 40 years of experience in mining in Peru, Maxy anticipates a very beneficial relationship with its newest shareholder. A number of Maxy's Peru properties are located near Hochschild's Peruvian mining operations. Maxy is nevertheless continuing to review all possible options to attract new capital and new partners. We are looking forward to discussing possible synergies and further arrangements with Hochschild management."

About Maxy Gold Corp.

Maxy Gold Corp. (TSX VENTURE:MXD) is a publicly traded Canadian junior exploration company dedicated to the exploration and development of precious and base metal resources in China and Peru.

Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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