Maxim Resources Inc.

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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