Maximus and NFX Confirm the Extension of the Fernland Mineralization at Larder Lake , Ontario

LONGUEUIL, QUEBEC and TORONTO, ONTARIO (TSX VENTURE: MXV) and NFX Gold Inc. ("NFX") (TSX VENTURE: NFX) are pleased to announce today the results from six follow-up drill holes located in the Fernland area of the Larder Lake Property in Ontario. The six holes tested for down-plunge (down to 400m vertical) and lateral (200m east and west) extensions of the high-grade gold zone intersected in hole #13 (6.9 g/t Au over 13.5 m, and including 13.1 g/t Au over 6.0 m as reported in the November 1st and 6th, 2007 press releases). Five of the six follow-up holes intersected gold mineralization, including hole #21 which intersected 28.1 g/t Au over 1.0 m.

Fernland Zone Results

Preliminary geological interpretation, based on the results obtained from all the drilling in the Fernland area, shows that the mineralization is more complex than anticipated. Based on intercepts to date, high-grade gold shoots occurring at Fernland appear to be confined to the immediate vicinity (within 100m) of NW trending faults. This was confirmed by hole #13's gold-rich intersection which is located less than 50m from one of those faults (Fig. 1). Furthermore, holes 19 and 21, both drilled within 100m of the same fault zone all intersected highly anomalous gold values. Hole #18, drilled west of the fault, cut the mineralized horizon which graded 0.5 g/t Au over 21.0 m, including 0.7 g/t Au over 10.7 m. Hole #19 intersected 0.5 g/t Au over 22.9 m, including a section grading 5.9 g/t Au over 1.5 m. Hole #20 followed the fault zone almost all the way down and cut disrupted shreds of the mineralized horizon grading 1.2 g/t Au over 5.8 m, including 3.1 g/t Au over 1.3 m. Hole #21 cut two discontinuous sections of gold mineralization grading 2.1 g/t Au over 0.8 m and 28.1 g/t over 1.0 m respectively. Holes #22 and #23 did not intersect significant gold values along the target horizon and seem to have been drilled outside of the high-grade shoot.

Hole #22 did encounter a gold zone along a different structure from the other holes in the area grading 1.6 g/t Au over 3.0 m, including 3.2 g/t Au over 1.1 m and 5.8 g/t Au over 1.2 m. The intersection is characterized by narrow pyrite-bearing quartz-carbonate veins. The different style of mineralization and the different position of the zone suggest the presence of a new gold zone that will be evaluated for future drilling.

Although apparently somewhat limited (100 to 150 m) in strike length, these mineralized shoots have proved to contain high-grade gold values within large gold-anomalous halos around the fault zones. Based on this, a thorough compilation is underway to fully assess the attitude and economic potential of these high-grade zones at Fernland in order to assist with planning additional drilling.


Highlights of Larder Lake Assay Results - Fernland area

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Hole no.     From        To  Length    Au         Mineralization Type
               (m)       (m)     (m) (g/t)
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NFX07-12(i)                                            Hole abandoned
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NFX07-13(i) 177.0     183.0     6.0  13.1    "Flow"-type; 5 to 25% Py
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 Including  177.0     180.0     3.0  19.9
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NFX07-18    198.0     219.0    21.0   0.5    "Flow"-type; 3 to 10% Py
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            198.8     209.5    10.7   0.7
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NFX07-19    250.7     273.6    22.9   0.5    "Flow"-type; 5 to 15% Py
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 Including  257.0     258.5     1.5   5.9
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NFX07-20    406.7     412.5     5.8   1.2          "Flow"-type; 5% Py
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            406.7     408.0     1.3   3.1
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NFX07-21    247.0     247.8     0.8   2.1            Qz-carb veinlets
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            282.0     283.0     1.0  28.1          Qz veinlets + v.g.
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NFX07-22    534.2     535.4     1.2   5.8  Qz-carb veinlets + 1-5% Py
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            549.0     552.0     3.0   1.6      Qz veinlets + 5-10% Py
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 including  550.3     551.4     1.1   3.2
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NFX07-23: No significant assay result
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(i) Hole NFX07-12 and 13 previously released

Bear Lake Zone

The 43,000 m drilling program planned at Larder Lake is proceeding as scheduled with three drills operating from the ice surface on Bear Lake. In January, a 34,000 m drill program commenced at Bear Lake in order to systematically test the Bear Lake high-grade gold zones intersected in hole #11 (10.4 g/t Au over 5.2 m, including 20.8 g/t Au over 1.5 m and 8.0 g/t Au over 10.2 m, including 18.6 g/t over 4.2 m as reported on August 16, 2007). The current drill program will investigate the zone along strike and down-plunge to a vertical depth of 1,000 m.

Larder Lake Property

Maximus is conducting the drilling program pursuant to the Option and Joint Venture Agreement between Maximus and NFX, whereby Maximus has the right to earn a 60% interest in NFX's 100% interest in the Cheminis, Fernland and Bear Lake claims and 45% interest in NFX's 100% owned Barber Larder claims, by expending $6 million on exploration by December 31, 2008.

As part of its QA/QC program, Maximus carries out check assays on the high-grade intersections with no discrepancies found in the assay results. The turnaround time for the reception of assay results from the lab has been very slow since September, due to the very large amount of samples received with the end of the field season. The situation is gradually returning to normal.

The technical content of the information, related to Larder Lake, was reviewed by Mr. Bernard Boily, P. Geo., responsible for supervising the drilling program and qualified person for Maximus under the guidelines of National Instrument 43-101. The analytical method for gold is one (1) assay-ton fire assay, AA determination with gravimetric finish on all samples reporting over 2 grams per tonne (g/t) gold. Assaying is done at Laboratoire Expert Inc. in Rouyn-Noranda, Quebec. The quality control process includes inserting blank samples and certified standards within each batch sent to the laboratory.

Forward-looking Statements

This release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", and "intend" and statements that an event or result "may", "will", "can", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current internal projections, expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.

To view a map of the Fernland Area Flow-type Gold Zone, please visit the following link:

http://media3.marketwire.com/docs/NFX221map.pdf

The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.

Contacts: Maximus Ventures Ltd. Francois Viens President and CEO 450-677-1009 450-677-2601 (FAX) www.maximusventures.com Maximus Ventures Ltd. Gerri Paxton/Louise Quinn Investor Relations 450-677-2054/677-3523 gpaxton@maximusventures.com lquinn@maximusventures.com NFX Gold Inc. Thomas G. Larsen President and CEO 416-360-8006 416-361-1333 (FAX) Toll Free: 800-360-8006 www.nfxgold.com

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