Maxim Resources Inc.
TSX VENTURE : MXM

Maxim Resources Inc.

July 29, 2005 09:00 ET

Maxim Announces Acquisition of an Additional Interest in the Cooke Ranch Deep Prospect

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 29, 2005) - Maxim Resources Inc. (TSX VENTURE:MXM) ("Maxim") has entered into a farm-in participation agreement to acquire an additional 3.25% working interest in the Cooke Ranch Deep Prospect. In exchange for the additional working interest in the Cooke Ranch Deep Prospect, Maxim has agreed to the sum of $380,250 (U.S.).

Maxim has been advised by Bayshore Exploration LLC ("Bayshore"), the operator of the Cook Ranch Deep Prospect (the "Prospect"), that drilling of the Cook No. 3 well has reached a depth of below 15,000 feet of the total depth of 21,000 feet which will be reached by the end of August to test the Smackover formation.

The Cooke No. 3 well has a completion cost of $8,000,000 (U.S.) and results will be announced after the well is completed.

Other participants in the well include Devron Energy (NYSE:DVN), Paxton Energy Inc., Dynamic Resources Corp. and several private oil and gas companies.

Maxim now holds a 9.50% working interest in the Cook Ranch Deep Prospect located in La Salle County, Texas.

On behalf of the Board

Arthur Brown, President and Director


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