Mr. Tim McNulty reports

MAX RESOURCE ANNOUNCES TSX VENTURE EXCHANGE CONDITIONALLY APPROVED PRIVATE PLACEMENT IN AUSTRALIAN SUBSIDIARY

Further to Max Resource Corp.'s news release on Dec. 12, 2024, Max Iron Brazil Ltd., subsidiary of the company, has received conditional approval from the TSX Venture Exchange of the 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 67 kilometres east of Belo Horizonte, Minas Gerais, Brazil, and for general working capital purposes. There are no finders' fees paid in connection with the completion of the offering.

In addition, Max Brazil has now commenced inaugural drill programs at its Floralia DSO hematite project, consisting of approximately 1,500 metres of diamond drilling and 1,000 metres conducted by a mobile power auger rig.

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 Floralia DSO hematite project is located 67 kilometres east of Belo Horizonte, Minas Gerais, Brazil's largest iron ore producing state. Max's technical team has significantly expanded the Floralia hematite geological target from eight to 12 mt (million tonnes) at 58 per cent Fe to 50 to 70 mt at 55 per cent to 61 per cent Fe, with an additional hematite/itabirite geological target of 130 to 170 mt at 51 per cent to 55 per cent Fe.

Max cautions investors the potential quantity and grade of the iron ore is conceptual in nature, and further cautions there has been insufficient exploration to define a mineral resource, and Max is uncertain if further exploration will result in the target being delineated as a mineral resource.

Hematite mineralization tonnage potential estimation is based on in situ high-grade outcrops and interpreted and modelled magnetic anomalies. Density value used for the estimate is 2.8 tonnes/cubic m. Hematite sample grades range between 55 to 61 per cent Fe. Hematite/itabirite mineralization tonnage potential estimation is based on in situ hematite/itabirite outcrop interpreted and modelled magnetic anomalies. Density value used for the estimate is 2.5 t/cubic m. Hematite/itabirite sample grades range between 51 to 55 per cent Fe. The 58 channel samples were collected for chemical analysis from in situ outcrops in previously mined slopes of industrial materials. Channel samples weighed in average 14 kilograms. Chemical analysis was performed at ALS Laboratories. Metal oxides are determined using XRF analysis. Fusion disks are made with pulped samples and the addition of a borate-based flux. Max did not insert standards or blanks in the assay stream and is relying on ALS's lab QA/QC (quality assurance/quality control).

We seek Safe Harbor.