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

Maxim Closes on Private Placement

Toronto, Ontario – December 29, 2014 – Maxim Resources Inc. (“Maxim” or the “Company”) (TSX V: MXM Frankfurt: M5HA OTCBB: MXMSF) is pleased to announce that it has closed a non-brokered private placement offering (the "Offering") for aggregate gross proceeds of $584,750. The Company issued an aggregate of 4,678,000 units (each, a "Unit"), at a price of $0.125 per Unit. Each Unit consists of one common share of the Company (a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share of the Company at a price of $0.18 until December 29, 2016.

In connection with the Offering, the Company paid an aggregate amount of $11,440in cash finder’s fees to a certain eligible arm's length person and issued 10,000 non-transferable finder’s warrants (the "Finder’s Warrants") to an eligible arm's length finder. Each Finder’s Warrant is exercisable into a Unit at an exercise price of $0.125 per Unit for a period of twenty-four (24) months from the closing of the Offering.

Art Brown, Chairman of Maxim, commented: "The closing of this private placement continues to validate the market's view of our business strategy and the future prospects of our operations in Morocco.”

All securities issued pursuant to the Offering, including the Common Shares and Warrants comprising the Units, the Common Shares underlying the Warrants, the Finder’s Warrants, and the securities underlying the Finder’s Warrants, are subject to a four (4) month and one (1) day statutory hold commencing from closing of the Offering. The Offering is subject to TSX Venture Exchange acceptance of requisite regulatory filings. The net proceeds raised from the Offering will be used for general working capital.

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.