Maximus and NFX Announce New Drilling Results Extending the Bear Lake Gold Zone at Larder Lake

Maximus Ventures Ltd. ("Maximus") (TSX VENTURE: MXV) and NFX Gold Inc. ("NFX") (TSX VENTURE: NFX) are pleased to announce additional results from the follow-up drilling program on the Bear Lake Gold Zone of the Larder Lake Property located in northeastern Ontario. Hole #24AW intersected 5.8 meters of flow-type mineralization grading 3.0 g/t gold, including a section of 1.4 meters grading 10.2 g/t gold. Furthermore, hole #24A cut a 1.9 meter section of carbonate-type mineralization assaying 9.1 g/t gold and hole #44W intersected 13.0 meters of carbonate-type mineralization grading 2.6 g/t gold, including a 1.5 meter section assaying 7.1 g/t gold and 3.2 meters assaying 5.1 g/t gold.

In addition, hole #35 cut 0.7 meter of pyritized sediments grading 7.2 g/t gold. This intersection represents a new zone south of the carbonate and flow-type mineralization and will be subject to further investigation as the drilling program progresses. "We are very happy that the drilling consistently hits the carbonate-type mineralization at Bear Lake" stated Francois Viens, President and CEO of Maximus. "We have adjusted the program to target the flow-type mineralization that consistently demonstrated the best continuity and gold grade at the historic Kerr-Addison Mine."

Highlights of recent results are tabulated below and complete results are presented in attached Table 1

The Highlights of recent drilling results are available at the following address: http://media3.marketwire.com/docs/highlights_recent_drilling_results.pdf

At Bear Lake, most of the drill intercepts to date are in the carbonate-type mineralization. Three deeper holes targeting the flow-type mineralization below 700 meters vertical were abandoned before reaching their target (e.g. holes #42A, #43 and #44) due to the presence of a strongly altered shear zone located approximately half way between the carbonate-type and flow-type mineralized zones. At the now-closed Kerr Addison mine located 5 kilometers east of Bear Lake, the flow-ore, which produced 60% of the gold, yielded higher and more consistent gold grades than the carbonate-ore which constituted only 40% of the total production. Considering the significance of the flow-type mineralization in the exploration model at Bear Lake, the drilling program has been adjusted so that holes designed to test the Bear Lake gold zones below 700 meters vertical are drilled from south to north, in order to intersect the flow-type mineralization before intersecting the shear zone.

Project Update

Three drill rigs are currently active at Larder Lake. Of the budgeted 43,000-meter drilling program proposed for Larder Lake in 2008, a total of 19,500 meters of diamond drilling has been completed to date in 39 holes. The drilling program will continue to systematically test the Bear Lake gold zone along strike and down-plunge to a vertical depth of 1,000 meters, using a 125 meter to 150 meter hole spacing. The 2008 drilling program will also test other promising gold targets on the Larder Lake Property. These targets are all located within the same rock units that host most of the gold occurrences along the Cadillac-Larder Lake Break, including the historic Kerr-Addison mine. To date, approximately 5% of all the samples submitted to the laboratory for assaying are still outstanding.

Larder Lake Property

Maximus is conducting the drilling program pursuant to the Option and Joint Venture Agreement between Maximus and NFX, whereby Maximus has the right to earn a 60% interest in NFX's 100% interest in the Cheminis, Fernland and Bear Lake claims and 45% interest in NFX's 100% owned Barber Larder claims, by expending $6 million on exploration by December 31, 2008. On July 4, 2008, Maximus notified NFX that it has met its $6 million expenditure commitment. Subject to NFX's review of the notice and documentation submitted with it, Maximus will be deemed to have earned a 60% and 45% undivided interest in the properties as described above.

NFX-Maximus Merger

On June 13, 2008, Maximus and NFX announced that they have entered into an agreement to combine the two companies on the basis of one (1) NFX share for each one (1) Maximus share. Based on the share exchange ratio, the Maximus and NFX shareholders will own approximately 58% and 42%, respectively, of the combined common shares outstanding. Completion of the transaction is subject to usual terms and conditions for such a transaction, including completion of due diligence, completion and execution of definitive business combination documentation, receipt of opinions from qualified investment dealers that the transaction is fair to the shareholders of NFX and Maximus, receipt of all required regulatory and securityholder approvals and no material adverse changes occurring in the financial condition of either company.

Quality Assurance and Control

As part of its QA/QC program, Maximus carried out check assays on the high-grade intersections with no discrepancies found in the assay results. The assays reported are the uncut average grades of all determinations from the same samples. The analytical method for gold is one (1) assay-ton fire assay, with gravimetric finish on all samples. All assays reporting over 2 g/t Au are automatically re-checked using the rejects. Assaying was done at Laboratoire Expert in Rouyn-Noranda, Quebec and at Polymet Labs in Cobalt, Ontario. The quality control process includes inserting blank samples and certified standards within each batch sent to the laboratory.