Overview

Maxtech Ventures Inc. through its wholly owned Indian subsidiary, Maxtech Resources (Private) Ltd, was granted a Reconnaissance Permit (RP) in 2010 covering 212.75 square kilometres in Lalitpur District, Uttar Pradesh (U.P.), India. The RP was granted to explore for iron, precious minerals, including the platinum group elements, base metals, uranium and diamonds. To date, the Company's geological team has undertaken an extensive surface sampling and mapping program in order to prioritize drill targets once a Prospecting License (PL) is granted.

Under the rules of the Reconnaissance Permit, Maxtech relinquished 50% of the RP in March 2012, reducing the Company's acreage package to 106.30 square kilometres. With the relinquishment complete, Maxtech can now focus on determining the most prospective areas to apply for a Prospecting License (PL). Once a PL is granted, the Company will have the right to begin drilling and continue with more in-depth exploration and development work.

The Company has applied for its initial Prospecting License covering 5.5 sq km. The PL covers the known iron deposit comprised of a Banded Iron Formation (BIF) and located within a large airborne magnetic anomaly approximately 20 kilometres in length. The eastern half of the anomaly is 6 kilometres wide and narrows down to a width of one kilometre on the western half. Within the anomalous area, crews have identified three rare earth elements (REE) anomalies.