June 22, 2010


MAXIM RESOURCES INC. CORPORATE UPDATE ON ACTIVITIES


TUESDAY, June 22, 2010 - VANCOUVER, B.C., CANADA, Maxim Resources Inc., (Maxim), (TSXV:MXM Frankfurt:M5H OTCBB: MXMSF), is providing this Shareholder Update on corporate activities.


Further to the News Release of June 9, 2010 in which Maxim announced a Letter of Agreement with an onshore, Trinidad based company for the share acquisition of 100% of its share capital, Maxim would like to confirm the purchase price is $10,600,000, and not $10,000,000 as previously stated. This was a clerical error.


Other aspects of the transaction are correct and include the assumption of a debt instrument in the amount of 1,600,000. As well as the granting of a 3% gross overriding royalty on production, to be paid quarterly to the former stakeholders.


The Company name and names of stakeholders have been withheld to date due to the fact that this is still considered a confidential agreement and will be disclosed only to parties as required for financing and regulatory requirements. It should also be noted that this acquisition is being considered as a "going concern", For the protection of Maxim's position, financing opportunities and potential operational considerations, as well as the existing ongoing operations of the Company with which the Letter of Agreement has been agreed, both parties have agreed to proceed in this manner at this time.


Maxim continues to work towards securing the balance of the due diligence materials it has requested in relation to the acquisition and will be reviewing these with various and prospective financing groups over the coming weeks.


Maxim has been active in seeking out alternative investments in the oil and gas sector. The Company has been reviewing opportunities that include existing production but must also have a step out opportunity for further exploration and potential production. Maxim will disclose any of these activities as they become material and require disclosure per regulatory environment.


Maxim presently has a Revenue Interest in Trinidad which calls for 69% revenue override until payout and 41% override thereafter for funds invested. This Revenue Interest is attached to 5 producing wells. Maxim has an option to participate in an ongoing drill program totalling 42 wells over 1,000 plus acres as noted and licensed by PetroTrin, the Trinidadian Petroleum Authority.


Issued on behalf of the Board of Directors of

Maxim Resources Inc.


   "Arthur Brown"


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