2010-06-21-2010-06-10

To purchase private company with onshore assets in Trinidad.

Maxim Resources Inc., Vancouver, B.C., (Toronto Venture: MXM; OTCBB: MXMSF) reports it will purchase a privately held onshore oil producer in Trinidad from undisclosed third parties for US$10 million in cash payable at closing, and for the assumption of approximately $1.6 million of debt. The sellers will retain a 3% overriding royalty in perpetuity on production from the producing property. Finder's fees may also be payable.