2010-05-07 18:22 ET - News Release Mr.

Arthur Brown reports MAXIM ANNOUNCES CHANGE IN PARTICIPATING INTEREST IN THE HIGH ISLAND BLOCK Effective as of Dec.

1, 2009, Maxim Resources Inc.s interest in and to the 115 B-1 well and the High Island block oil and gas leases in the western Gulf of Mexico has been changed to an 8-per-cent working interest and a 4-per-cent net revenue interest.

The company agreed to reduce its working interest in settlement of the companys failure to make certain payments required by the applicable operating agreement.

Prior to this change, the company had a 20-per-cent working interest and a 10-per-cent net revenue interest.

In addition, as the company owes approximately $770,000 (U.S.) in fees in connection with its interest in the High Island block, the proceeds payable to the company for its net revenue interest will be reduced in order to repay such amount owing.

We seek Safe Harbor.