An anonymous director reports

MAX RESOURCE ANNOUNCES PRIVATE PLACEMENT FOR UP TO C$16.8 MILLION INCLUDING C$1.5 MILLION ON A BROKERED BEST EFFORTS BASIS

Max Resource Corp. has entered into an agreement with Cormark Securities Inc., pursuant to which it has agreed to act as lead agent in connection with a brokered best efforts private placement offering of units of the company at a price of 60 cents per unit for aggregate gross proceeds to the company of up to $1.5-million. In addition, the company intends to close a non-brokered private placement offering of units for gross proceeds of up to $15.3-million, bringing the total aggregate gross proceeds to the company up to $16.8-million, inclusive of the brokered offering.

Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of the company at an exercise price of 85 cents for a period of 12 months following the closing of the offering.

The company has granted to Cormark an option, exercisable in whole or in part, in the sole discretion of Cormark, at any time up to 48 hours prior to the final closing date of the brokered offering, to purchase additional units, in an aggregate amount not to exceed 10 per cent of units sold pursuant to the brokered offering, on the same terms and at the same price as the units sold under the brokered offering, to cover overallotments, if any, and for market stabilization purposes.

The net proceeds of the offering will be used for drilling and exploration of the company's Cesar project in Colombia and general working capital.

The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange, and is scheduled to close on or about May 31, 2022.

Cormark will be entitled to a cash fee and compensation warrants on the sale of units under the brokered offering in accordance with the policies of the TSX-V.

About Max Resource Corp.

Max Resource is a mineral exploration company advancing the newly discovered district-scale Cesar copper-silver project. The Cesar project sits along the Colombian portion of the world's largest producing copper belt (Andean belt), with world-class infrastructure and the presence of global majors (Glencore and Chevron).

In addition, Max controls the RT gold project (100-per-cent earn-in) in Peru, encompassing a bulk tonnage primary gold porphyry zone and, three kilometres to the northwest, a gold-bearing massive sulphide zone. Historic drilling in 2001 returned values ranging 3.1 to 118.1 grams per tonne gold over core lengths ranging from 2.2 to 36 metres.

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