Quarterly Report

PERIOD ENDING 30 JUNE 2015

Maximus Resources Ltd ABN 74 111 977

SUMMARY

PROJECT EVALUATION

f Analysis of projects for acquisition or Joint Venture continues

f Assessment of a small combined open pit / underground project in eastern Australia completed and discussions continue.

f Discussions are ongoing with the Administrator of a medium sized gold project in Eastern Australia

WESTERN AUSTRALIA

NARNDEE PROJECT

f Transfer of nine tenements to Maximus finalised in June quarter increasing the tenements held in the Narndee area to

13 for a total of 963 km2.

f Review of past exploration activities shows EM conductors that require on-ground follow-up

SOUTH AUSTRALIA

MILLERS CREEK PROJECT

f Farm-in Joint Venture Agreement with

Monax Alliance Pty Ltd terminated.

f Age analysis of drill core confirmed Hiltaba aged (1590 million years old) indicating the setting is correct for IOCG mineralisation

f Options currently being reviewed, including Joint venture considerations of tenement package

IRONSTONE WELL

WELBOURN HILL

Eromanga Basin

NARNDEE

Yilgarn

Craton

Gawler

Craton

MILLERS CREEK

ADELAIDE HILLS

Maximus project locations

Figure 1 Location of Maximus Projects.

Maximus Resources Limited • Quarterly Report for the period ending 30 June 2015 • 1

DEVELOPMENT AND EXPLORATION ACTIVITIES

SOUTH AUSTRALIA

MILLERS CREEK COPPER, GOLD PROJECT

Maximus 100%

Following the signing of the three year Farm-in Agreement with Monax Alliance Pty Ltd (Alliance) in January 2015, Alliance drilled a single Diamond drill hole to a depth of 911 metres (planned depth of 1,250 metres) targeting a semi-coincident magnetic and
gravity anomaly. Drilling was terminated early due to an assessment that the mineralisation encountered was not suitable to host an IOCG body. This is despite the hole not achieving the target depth, nor explaining the magnetic/gravity anomaly.
Three samples of core were cut and dispatched for assay analysis. No elevated assay results were returned.
Thin sections of core were prepared for analysis and dating (establishing age of rocks) during the period. The analysis confirmed the age of the rocks as Hiltiba aged rock with a date range of 1604 MA +/- 16 years (Hiltiba age 1590 MA). This date range is a positive sign for the presence of IOCG type deposits in the region.
During the quarter the company successfully applied for an additional tenement, ELA 2015/0051 located to the south of Oliffes Dam, covering an area of 83 km2. The company is now planning to undertake a review of the geophysical data to determine the presence of any IOCG targets.
As a result of the current focus of the company towards gold projects and the economic climate, the company has decided to solicit offers for a Joint Venture on the expanded Millers Creek project.

ADELAIDE HILLS PROJECT

100% Maximus

The planned review of the available data on the four remaining Adelaide Hills tenements was delayed until quarter 3, due to the project evaluation workload.

NORTHERN GAWLER CRATON PROJECT

WELBOURN HILL

Maximus 100%

The Northern Gawler Craton Project consists of a single granted tenement, Welbourn Hill (EL 5248) located
along the northern margins of the Gawler Craton in the
Marla region of South Australia covering an area totalling
439 km2.
The plan to complete a geophysical review of the combined dataset then scope out a deep Induced Polarisation (IP) Survey to highlight zones of possible sulphide accumulation related to magnetite destructive zones remain in place. This review is currently on-hold whilst due diligence is completed on several projects under review.
The company has previously stated that it plans to promote this project to prospective Joint Venture parties as one with potential to host a significant copper target within the basement structure. A joint Venturer with a positive view of the prospectivity of this region could contribute to, or fund a deep drilling program on the tenement.

WESTERN AUSTRALIA NARNDEE PROJECT Maximus 100%

The review of past and recent exploration programs on Narndee has identified airborne Electromagnetic (EM) conductors that require on-ground follow-up. The focus in the near term will be on the southern portion
of the tenement package (Milgoo project area), with a recommendation due in the September quarter on how to progress the northern gold prospective targets. To- date exploration has failed to identify suitable targets on the northern tenements.
The ground EM survey is now on hold, but may be incorporated into the revised exploration program on the southern tenement package one completed.
The transfer of nine tenements to Maximus from a private company was finalised in June 2015 following a
12 month process. These additional tenements increase the tenements held in the Narndee area to 13 for a total
of 963 km2.

2 • Maximus Resources Limited • Quarterly Report for the period ending 30 June 2015

YANDAL PROJECT

Maximus 20%, 100% iron ore rights

The Yandal project (also known as Ironstone Well) currently includes one contractual agreement whereby Orex Mining Pty Ltd (Orex) was proposing to progress the Flushing Meadows gold project in which Maximus retains a $40 per ounce royalty interest. Following discussions with Orex in March, relating to financials of the Flushing Meadows project, Orex notified Maximus during the quarter that it does not intend progressing the Flushing Meadows gold project. Agreement has been reached between Orex and Maximus for Maximus to resume ownership of the Yandal project and reclaim
100% of the gold rights for a nominal charge.

CORPORATE

PROJECT EVALUATION

Maximus continues to search for and evaluate prospective projects and tenements with a view to bolster the exploration portfolio and continue to build on the prospectivity of the company's asset base.
Maximus conducted Due Diligence on a medium sized advanced development project in eastern Australia
and commenced preliminary negotiations to acquire the project. The Current owner decided to fund the project internally and commence development of the underground component of the project in its own right. Maximus is maintaining an open dialogue with this company to ensure that should an opportunity present itself to re-activate negotiations on a Joint Venture or outright purchase basis, Maximus is the preferred party.
A second larger gold project based in the Eastern States has been assessed following the parent company being placed in Administration. Maximus became aware of the company being placed in Administration only recently and has held preliminary discussions with the Administrator.
The ASX listed company appointed an Administrator after poor gold recovery issues in the mill resulted in reduced income, resulting in financial distress.

Kevin Malaxos

Managing Director

31 July 2015

For further information please contact:

Maximus Resources Limited, on 08 7324 3172, or

Investor relations:

Mr Duncan Gordon,
Adelaide Equity Partners,

on 08 8232 8800 or 0404 006 444

Further information relating to Maximus Resources Limited and its various projects can be found on its website:

www.maximusresources.com

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Kevin Malaxos who is a Member of the Australasian Institute of Mining and Metallurgy, and who has sufficient experience relevant to the style of mineralisation, the type of deposit under consideration, and the activities being undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration results, Mineral Resources and Ore Reserves (the JORC Code). This report is issued in the form and context in which it appears with the written consent of the Competent Person.

Maximus Resources Limited • Quarterly Report for the period ending 30 June 2015 • 3

MAXIMUS RESOURCES LIMITED

TENEMENT SCHEDULE

as at 30 June 2015

4 • Maximus Resources Limited • Quarterly Report for the period ending 30 June 2015

Appendix 5B Mining exploration entity quarterly report

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10.

Name of entity

Maximus Resources Limited

Rule 5.3

ABN Quarter ended ("current quarter")

74 111 977 354 30 June 2015

Consolidated statement of cash flows

Cash flows related to operating activities

1.1 Receipts from product sales and related debtors

1.2 Payments for

(a) exploration & evaluation

(b) development

(c) production

(d) administration

(e) professional fees

1.3 Dividends received

1.4 Interest and other items of a similar nature received

1.5 Interest and other costs of finance paid

1.6 Income taxes paid

Net Operating Cash Flows

+ See chapter 19 for defined terms.

30/9/2012 Appendix 5B Page 1

Appendix 5B

Mining exploration entity quarterly report

Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related entities

Current quarter

$A'000

1.23 Aggregate amount of payments to the parties included in item 1.2 $124

1.24 Aggregate amount of loans to the parties included in item 1.10 -

1.25 Explanation necessary for an understanding of the transactions

Director Fees $120,462

Legal Fees (Minter Ellison): $3,871

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

+ See chapter 19 for defined terms.

Appendix 5B Page 2 30/9/2001

Financing facilities available

Add notes as necessary for an understanding of the position.

Appendix 5B Mining exploration entity quarterly report

3.1 Loan facilities

3.2 Credit standby arrangements

Estimated cash outflows for next quarter

4.1 Exploration and evaluation

4.2 Development

4.3 Production

4.4 Administration

Reconciliation of cash

Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed

+ See chapter 19 for defined terms.

30/9/2012 Appendix 5B Page 3

Appendix 5B

Mining exploration entity quarterly report

6.2 Interests in mining tenements acquired or increased

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

7.7 Options (description and conversion factor)

7.8 Issued during quarter

7.9 Exercised during quarter

+ See chapter 19 for defined terms.

Appendix 5B Page 4 30/9/2001

7.10 Expired during quarter

Appendix 5B Mining exploration entity quarterly report

7.12 Unsecured notes

(totals only)

Compliance statement

1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).

2 This statement does give a true and fair view of the matters disclosed.

Sign here: (Company Secretary) Date: 31July 2015

Notes

Print name: Rajita Alwis

1 The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items

6.1 and 6.2.

3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.

4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive

Industries and AASB 1026: Statement of Cash Flows apply to this report.

5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

+ See chapter 19 for defined terms.

30/9/2012 Appendix 5B Page 5