Maxy Gold Corp. reports Soil Survey and Geological Mapping Program Identifies 10 Significant Exploration Target Areas on its Danbolongwa Permit Huangnan Copper-Gold Project, China



    Trading Symbol: MXD.TSXV

    VANCOUVER, June 13 /CNW/ - Maxy Gold Corp. Trading Symbol: MXD.TSX-V
("Maxy") today reported results from the 2006 soil geochemical survey and
geological mapping program performed in the northern part of the Danbolongwa
permit, part of Maxy's "HUANGNAN" Copper-Gold Project, located in Qinghai
Province, China. This is the first Property incorporated under Maxy's
Exploration Alliance Agreement with Western Mining Group Ltd., announced
October 4, 2006.
    Watts, Griffis and McOuat ("WGM"), as part of the NI 43-101 report, has
reviewed the results of a geological mapping and soil sampling survey
completed by the Geology Research Centre of Geosciences and Environment
Engineering Department of Central South University ("CSU"). CSU collected 808
soil samples and 15 rock grab samples as part of its 1:25,000 scale 2006
survey. The survey was commissioned by Western Mining and covers an area of
60 km2, which included about 15% of the northern part of the Danbolongwa
permit area. Sixteen of the 24 highest soil geochemical anomalies identified
by the survey, including those with the best copper (Cu), lead (Pb), zinc
(Zn), molybdenum (Mo) and tungsten (W) values, are located on Maxy's
Danbolongwa permit. Geochemical analyses were completed by the Hunan Province
Center Laboratory of the Geology Mineral Resource Bureau located in Changsha,
Hunan Province, China. WGM has reviewed, but not verified, the data presented
in the CSU report but believes the results to be representative. Based on its
property visit and data provided, WGM has made a number of conclusions with
reference to the Danbolongwa permit in search of SEDEX, skarn and epigenetic
precious and base metal mineralization.

    
    WGM has identified seven "Priority 1" exploration targets:

    1.  Soil sample D185, the highest Pb anomaly of the survey (1.14% Pb with
        134 ppm Cu, 107 ppm Zn and 62 ppm tin), located within or near the
        contact margin of a large kidney-shaped granite porphyry in search of
        a SEDEX-type deposit similar to the Shuengpengxi gold-copper deposit
        (a former gold mine);
    2.  The entire Gangca granitic intrusion in search of a possible Cu-W-Mo
        porphyry-type deposit. Target anomalies within this intrusion, as
        defined by soils samples D048 (170 ppm W and 86 ppm Cu) and D885 (120
        ppm Mo);
    3.  Skarn-type mineralization within the Permian age sedimentary unit
        that hosts the Shuengpengxi gold-copper deposit which could
        potentially outcrop along the southern contact of the Gangca
        intrusion.
    4.  A Skarn-type zone associated with the contacts of a small northwest
        trending oval-shaped granite plug and its Triassic age sedimentary
        rocks, including limestones, located in the southeastern portion of
        the permit;
    5.  A skarn-type zone indicated by a strong lead-zinc soil anomaly
        defined by samples D159 (114 ppm Pb, 255 ppm Zn) and D160 (329 ppb
        Pb, 526 ppm Zn) in silicified sedimentary rocks adjacent to the
        kidney-shaped granite porphyry mentioned in (1), above:
    6.  A copper soil anomaly, samples D083 (168 ppm Cu) and D084 (471 ppm
        Cu), and lead-zinc anomaly (D488; 137 ppm Pb and 185 ppm Zn) all
        located within a small quartz diorite intrusive plug related to a
        north striking fault; and
    7.  A copper-lead-zinc soil anomaly, sample D156 (254 ppm Cu, 231 ppm Pb,
        321 ppm Zn) hosted in sedimentary rocks; possibly structurally
        controlled secondary mineralization.

    WGM has also identified three "Priority 2" exploration targets:

    1.  Two historical copper stream sediment anomalies located in the
        southwest portion of the permit area;
    2.  A skarn-type tin-copper-lead-zinc anomaly defined by soil samples
        D280 (48 ppm tin, 122 ppm Pb, 203 ppm Zn) and D282 (209 ppm Cu)
        hosted in sedimentary rocks; and
    3.  A zinc soil anomaly, sample D444 containing 108 ppm Zn which
        corresponds to a northwest striking fault located south of the Gangca
        intrusion.
    

    Andre Gauthier, Maxy's President and CEO said,
    "We are extremely pleased with the soil geochemistry survey which,
confirms the very high potential to discover base metal and precious metal
deposits on the Danbolongwa property. It is particularly encouraging that
these results come from surveying only the northern 15% of the permit, while
the remaining 85% has open potential. We anticipate that an aggressive and
systematic exploration program in 2007 will verify these anomalies and test
the oxide surface and hard rock potential of the whole of this high potential
property".

    ABOUT WESTERN MINING GROUP, LTD.

    Western Mining Group, Ltd. ("Western Mining") is one of the largest
mining conglomerates in China, with diversified holdings that include four
large and medium sized non-ferrous mines, one of which, the "Xitieshan" is
China's largest mine with annual production capacity of 1.5 millions tons of
lead-zinc minerals and 160,000 tons of lead and zinc metals. Western Mining is
based in the province of Qinghai and focuses on the mining, processing,
refining and smelting of lead, zinc copper and other non-ferrous metal
resources. It has a workforce of more than 8,000 and an assets value in excess
of US$10.5 billion, including subsidiary listing applications on the Shanghai
and London Stock Exchanges.

    ABOUT MAXY GOLD CORP.

    Maxy Gold is focused on the acquisition, exploration and responsible
development of precious and base metal properties in China, while building key
strategic alliances, compiling a unique technical database and establishing
the company at the forefront of China's financial marketplace. Maxy Gold has
assembled a technically oriented team that combines more than 25 years of
exploration experience in China and aims to become a major player in the
development of a strong mining industry and venture capital market in China
over the next few years. The company's current activities are focused on the
MIDU Joint Venture where gold and base metal mineralization has been
identified, and on the strategic joint venture alliance with Western Mining
Co. Group, Ltd. one of China's largest mining and development companies.

    Andre Gauthier is the Qualified Person under NI 43-101, responsible for
this press release.

    Maxy Gold Corp - Western Mining Group. Ltd. Qinghai Alliance

    Under the joint venture (JV) agreement announced October 24, 2006, Maxy
has the right to earn a 50% interest in the Huangnan property by spending
US$2 million dollars over a 2 year period. Should a discovery be made, Western
Mining will have the right to earn back a 15% interest by completing a
feasibility study and developing the mine to production. Maxy will be operator
and manager of the exploration phase of the JV and Western Mining will act as
operator and manager of the development and mining operations and will be in
charge of obtaining all the required mining permits. The JV agreement is for a
3 year period.
    Maxy and Western Mining have a strong alliance, with Mr. Mao Xiaobing,
the Chairman and President of Western Mining Co. Group, Ltd., also being on
Maxy's board of directors, and Western Mining has invested $2,250,000 in Maxy
by way of a private placement

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    Statements in this press release other than purely historical
information, including statements relating to the Company's future plans and
objectives or expected results, constitute forward-looking statements.
Forward-looking statements are based on numerous assumptions and are subject
to all of the risks and uncertainties inherent in the Company's business,
including risks inherent in resource exploration and development. As a result,
actual results may vary materially from those described in the forward-looking
statements.





For further information:

For further information: Maxy Gold Corp.: Andre Gauthier, President,
Tel: (604) 688-8811, Email: info@maxygoldcorp.com; The Equicom Group Inc.:
Michael Joyner, Investor Relations, Tel: (416) 815-0700 ext.275, Email:
mjoyner@equicomgroup.com

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