Maxy Gold Corp.
TSX VENTURE : MXD

Maxy Gold Corp.

March 28, 2006 09:00 ET

Maxy Gold Corp.: Private Placement

VANCOUVER, BRITISH COLOMBIA--(CCNMatthews - March 28, 2006) - MAXY GOLD CORP. ("Maxy")(TSX VENTURE:MXD) announced today that it has arranged a non-brokered private placement of 1,000,000 Units at $0.70 per Unit to raise $700,000. The Units are comprised of one common share and one-half share purchase warrant. Each whole warrant will be exercisable for a period of two years from closing at $1.10 per share.

The proceeds of the placement will be applied to the ongoing exploration programs underway on the properties of the Luchun regional joint venture in southern Yunnan Province, and the Midu joint venture in western Yunnan, and for general working capital. The placement is subject to regulatory approval.

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

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