Maxy Gold Corp.

Maxy Gold Corp.

August 15, 2005 09:01 ET

Maxy to Raise $1,100,000 by Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 15, 2005) - MAXY GOLD CORP. ("Maxy") (TSX VENTURE:MXD) announced today that it has arranged a non-brokered private placement of 2,750,000 units at $0.40 to raise $1,100,000. 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 form closing at $0.80 per share.

The proceeds of the placement will be applied to the ongoing exploration and drilling programs underway on the Niukong and Niubo-Dichu areas of the Luchun Gold Project, as well as funding initial exploration of the exciting copper discovery on the Niujaozai property of the Luchun Project. The placement is subject to regulatory approval.

Maxy hold the rights to acquire an 80% Interest in the Luchun Gold Joint Venture and a 75% interest in the Midu Gold Joint Venture, both located in Yunnan Province, China.


Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

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

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