TSX.V: MXM | FRANKFURT: M5HA | OTCBB: MXMSF

Maxim Announces Update on Proposed Non-Brokered Private Placement

Toronto, Ontario – December 4, 2014 – Maxim Resources Inc. (“Maxim” or the “Company”) (TSX V: MXM Frankfurt: MSHA OTCBB: MXMSF) announces that, further to its news release of November 20, 2014, the Company continues to pursue a proposed non-brokered private placement financing for aggregate gross proceeds of up to $2.5 million (the “Offering”).

The Company proposes to issue up to 20,000,000 units (each, a “Unit”) in the Offering at a price of $0.125 per Unit. Each Unit shall be comprised of one common share in the capital of the Company (each, a "Common Share") and one whole warrant to acquire a Common Share at an exercise price of $0.18 per Common Share for a period of two years from the date of issuance. The Offering is now expected to close on or before December 15, 2014. Net proceeds of the Offering will be used for general working capital. The securities issued pursuant to the Offering will be subject to a statutory 4 month plus one day hold period from the date of issuance. The Offering remains subject to TSXV approval and applicable regulatory authorities.

About Maxim

Maxim is an oil and gas production and exploration company based in Vancouver, Canada. The Company is focused on identifying assets that meet the following criteria, producing, near term enhancement and exploration opportunities. Investments may be by way of acquisition, participation and/or fractional interest. Its most recent investment is a Reconnaissance Contract for the Hassi Berkane Block, in the Kingdom of Morocco (“Morocco) in partnership with the National Office of Hydrocarbons and Mines (“ONHYM”)”.

We encourage any interested parties to visit www.maximresources.com and hit the Register for News tab at the top of the page.

Issued on behalf of the Board of Directors of Maxim Resources Inc.

        “Arthur Brown”

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Arthur Brown

Chairman of the Board of Directors

For further information, please contact the Company at +1 604 630 0280 or toll free at +1 888 882 8891, This email address is being protected from spambots. You need JavaScript enabled to view it.  http://www.maximresources.com  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.