CALGARY, ALBERTA--(Marketwire - Oct. 21, 2011) - Maxim Power Corp. (TSX:MXG) ("MAXIM" or the "Corporation") announced today that the Court of Appeal of Alberta (the "Court") has denied an application for leave to appeal the interim decision of the Alberta Utilities Commission ("AUC") that granted approval to MAXIM to construct the 500 megawatt Milner expansion project ("M2").

The AUC has issued both an interim and a final decision on MAXIM's application to construct M2. On June 30, 2011, the AUC issued an interim decision to approve MAXIM's application. Today, the Court denied an application for leave to appeal this decision. On August 10, 2011, the AUC issued their final decision approving the project. No party has sought leave to appeal the final decision and the period for which the Court would consider such applications related to this decision has expired.

M2 has been under development by MAXIM since May 2005. A lengthy public consultation and regulatory approval process culminated in the project's approval by the AUC. M2 will utilize supercritical, pulverized coal technology, making it one of the cleanest and most fuel-efficient coal-fired power plants in Canada that can meet Alberta's growing electric energy needs and allow for the orderly retirement of a less efficient, less reliable and aging conventional coal-fired fleet.

The M2 design incorporates emission control equipment capable of achieving 60 to 80 percent reductions in sulphur dioxide, nitrogen oxides and mercury compared to the conventional coal-fired power plants still operating in Alberta. The highly efficient M2 design will also reduce carbon dioxide emissions by 20% compared to these existing plants. M2 is a reliable and low-cost generation supply solution for Albertans that is entirely consistent with federal and provincial goals for emissions reductions.

About MAXIM

Based in Calgary, Alberta, MAXIM is an independent power producer, which acquires or develops, owns and operates innovative and environmentally responsible power projects. MAXIM currently owns and operates 44 power plants in western Canada, the United States and France, having 809 MW of electric and 117 MW of thermal net generating capacity. MAXIM trades on the TSX under the symbol "MXG". For more information about MAXIM, visit our website at [ www.maximpowercorp.com ].

Statements in this release which describe MAXIM's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of MAXIM to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. MAXIM may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions and will update such forward looking statements as required pursuant to applicable securities laws.

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