Mr. Brett Matich reports

MAX RESOURCE ANNOUNCES PROPOSED PRIVATE PLACEMENT IN AUSTRALIAN SUBSIDIARY

Max Iron Brazil Ltd., currently a wholly owned subsidiary of Max Resource Corp., intends to complete a non-brokered private placement of up to 30 million ordinary shares in the capital of Max Brazil at a price of 10 Australian cents per ordinary share for aggregate gross proceeds of up to $3-million (Australian).

The net proceeds of the offering will be used for the advancement of the Floralia DSO hematite project located 70 kilometres east of Belo Horizonte, Minas Gerais, Brazil, and for general working capital purposes. Finders' fees may be payable in connection with the completion of the offering in accordance with TSX Venture Exchange policies.

Closing of each of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including that of the TSX-V.

About Max Resource Corp.

The company's wholly owned Sierra Azul 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). Max Resource has an earn-in agreement with Freeport-McMoRan Exploration Corp., a wholly owned affiliate of Freeport-McMoRan Inc., relating to the Sierra Azul project. Under the terms of the EIA, Freeport has been granted a two-stage option to acquire an up-to-80-per-cent ownership interest in the Sierra Azul project by financing cumulative expenditures of $50-million (Canadian) and making cash payments to Max Resource of $1.55-million (Canadian). Max Resource is the operator of the initial stage. The $4.2-million (U.S.) 2024 exploration program for the Sierra Azul project is financed by Freeport.

The company's wholly owned Floralia hematite iron ore project is located 70 kilometres southeast of Belo Horizonte, Minas Gerais, Brazil's largest iron ore producing state. Max Resource's technical team has significantly expanded the Floralia hematite geological target from eight million to 12 million tonnes at 58 per cent iron to 50 million to 70 million tonnes at 55 per cent to 61 per cent Fe, with an additional itabirite geological target of 130 million tonnes to 170 million tonnes at 51 per cent to 55 per cent Fe.

The company has added an Australian entity, Max Brazil, to hold the Floralia Brazilian assets through the existing Canadian and Brazilian holding entities. The company plans to seek listing on the Australian Securities Exchange, prior to a prelisting financing directly into Max Brazil, to finance the proposed transaction and to advance drilling at the Floralia project.

We seek Safe Harbor.