NFX Gold Inc.
TSX VENTURE : NFX

NFX Gold Inc.
Maximus Ventures Ltd.
TSX VENTURE : MXV

Maximus Ventures Ltd.

April 27, 2007 12:07 ET

Maximus Identifies a New Mineralized Zone at NFX's Larder Lake Property

TORONTO, ONTARIO and LONGUEUIL, QUEBEC--(CCNMatthews - April 27, 2007) - Maximus Ventures Ltd. (TSX VENTURE:MXV) and NFX Gold Inc. (TSX VENTURE:NFX) are pleased to announce the first drilling results from the 2007 drilling program at the Larder Lake project (the "Larder Lake Project"), located in Ontario, Canada. The Larder Lake Project consists of the Cheminis, Bear Lake, and Fernland properties (all 100% NFX owned) and the Barber Larder property (75% NFX owned). Under the Option and Joint Venture Agreement between Maximus and NFX signed March 3, 2006, Maximus acquired the right to earn a 60% interest in NFX's interest at the Larder Lake Project by expending $6 million on exploration by December 31, 2008. The Larder Lake Project is located in eastern Ontario along the Larder Lake break, a 200 km long east-west zone of faulting that hosts numerous world-class gold mines.

The first four diamond drill holes encountered a new mineralized zone in an area located some 3.5 km west of the old Kerr Addison mine. Holes NFX-07-1 to NFX-07-4, totalling 1,596m, all intercepted a steeply dipping mineralized zone consisting of a unit of flow-type mineralization adjacent to a unit of green carbonate-type mineralization typical of the Kerr Addison mine. The thickness of the zone varies from 10 to 60m and it was intercepted at depths varying from 100 to 500m from surface over a strike length of 400m. Although the grades encountered are not yet economic, the presence of highly anomalous gold values within favourable altered geological units indicates that the potential for higher-grade mineralization along strike or at depth is promising. "The size and consistency of this new mineralized zone confirm our interpretation that parallel mineralized trends do occur west of Kerr Addison", says Francois Viens, President and CEO of Maximus. "The strong presence of gold indicates a significant mineralization system within this unit still open on all its extensions and at depth." Maximus plans additional study and analysis of the diamond drill core to identify a possible vector of increased gold mineralization. Results from the first four holes are presented below.

In the mean time, the drill moved to another target located some 700 metres to the west. The new target consists of interpreted strongly altered iron-rich basalt and ultramafic rock units, adjacent to a fault zone. This setting is again similar to the host rocks at the Kerr-Addison mine located 5 km to the East. Ten (10) holes totalling 6,100m are planned on this target.



ASSAY RESULTS - LARDER LAKE PROJECT

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From To Length Au
Hole no. (m) (m) (m) (g/t) Mineralization Type
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NFX-07-1 105.0 130.2 25.2 0.3 "Flow"-type
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Including. 111.8 118.8 7.0 0.6 "Flow "-type
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NFX-07-1 141.9 155.2 13.3 0.2 "Carbonate"-type
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NFX-07-2 555.1 598.8 43.7 0.1 "Flow"-type
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602.8 611.8 9.0 0.1 "Carbonate"-type
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NFX-07-3 226.5 275.2 48.7 0.1 "Flow"-type
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Including. 269.6 275.2 5.6 0.5 "Flow"-type
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NFX-07-4 27.7 28.1 0.4 2.2 Qz veins + 15-20% Py
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108.9 123.8 14.9 0.2 "Carbonate"-type
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Including. 108.9 111.5 2.6 0.5 "Carbonate"-type
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Including. 120.9 123.8 2.9 0.4 "Carbonate"-type
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The technical content of the information related to Larder Lake has been reviewed by Mr. Bernard Boily, P. Geo., responsible for supervising the drilling campaign and qualified person for Maximus under the guidelines of National Instrument 43-101. The analytical method for gold is 1 assay-ton fire assay, AA determination with gravimetric finish on all samples reporting over 2 grams per tonne (g/t) gold. Assaying is done by Laboratoire Expert Inc. in Rouyn-Noranda, Quebec. The quality control process includes inserting blank samples and certified standards within each batch sent to the laboratory.

Forward-looking Statements

This release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking statements. Forward-looking statements reflect the current internal projections, expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.

Contact Information

  • NFX Gold Inc.
    Thomas G. Larsen
    President and CEO
    (416) 360-8006 or Toll Free: 1-800-360-8006
    (416) 361-1333 (FAX)
    Website: www.nfxgold.com
    or
    Maximus Ventures Ltd.
    Francois Viens
    President
    (450) 677-1009
    (450) 677-2601 (FAX)
    Website: www.maximusventures.com