Maximus Ventures Ltd.

Maximus Ventures Ltd.

December 18, 2007 15:52 ET

Maximus Ventures Announces its Financial Results for the Year Ended September 30, 2007, Appointments and Option Grants

LONGUEUIL, QUEBEC--(Marketwire - Dec. 18, 2007) - Maximus Ventures Ltd. (TSX VENTURE:MXV) (the "Company") announces that its audited Consolidated Financial Statements and Management's Discussion & Analysis for the year ended September 30, 2007 have been filed on SEDAR ( They are also available through Marketwire's website at and on the Company's website.

Financial Highlights (in Canadian dollars) for the year include exploration expenditures of $4.5 million on its projects in Ontario, Nunavut and Nevada, administration costs of $0.6 million, an impairment charge of $0.95 million on its asset-backed commercial paper ("ABCP") and a write-down of the Company's exploration projects in Nevada in the amount of $0.9 million. The Company issued 13,316,666 common shares in 2007 for net proceeds of $5.0 million and subsequent to year-end issued 10,666,666 Units (each Unit consisting of one common share and one common share purchase warrant), for net proceeds of $2.9 million.

The Company has readily-available liquidities of $4.1 million at November 30, 2007, in addition to ABCP (net of impairment charge) in the amount of $3.8 million. The Company has 74,335,612 common shares issued and outstanding, 14,241,966 warrants outstanding at an exercise price varying between $0.30 and $0.60 per share, expiring at various dates from May 2008 to April 2009 and 4,520,000 outstanding stock options at an exercise price varying between $0.10 and $0.42 and expiring by December 2012.


Mr. Francois Viens, President and CEO of Maximus Ventures Ltd., is pleased to announce that Ms. Geraldine Paxton and Ms Louise Quinn have joined Maximus to form an Investor Relations team whose mandate is to ensure that the Company's Investor Relations activities with the shareholders, potential investors and other market participants are fulfilled. Both have significant experience and success in investor relations.

In addition, the Board of Directors appointed Ms. Carole Plante as Corporate Secretary. Ms. Plante has been involved in the mining industry for over 14 years as legal counsel and corporate secretary for various mining companies in Canada and the United States. Ms. Plante holds a law degree from the University of Montreal and is a member of the Quebec Bar.

Option Grants

Ms. Paxton and Quinn have each been granted an option to purchase 75,000 common shares of the Company. Ms. Plante has been granted an option to purchase an aggregate of 200,000 common shares of the Company. The options are exercisable at $0.42, the market closing price on December 13, 2007, will vest over an 18-month period and expire on December 14, 2012.

The appointments and option grants are subject to the approval of the TSX Venture Exchange.

Additional information

Additional information about the Company is available through regular filings and press releases on SEDAR and on the Company's website.

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

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