Mr. Ran Narayanasamy reports

LAWSON WELL ENCOUNTERS MORE NATURAL HYDROGEN-RICH FRACTURES

Drilling the first well of a multiwell commercial validation drill program at Max Power Mining Corp.'s Lawson Natural Hydrogen discovery near Central Butte, Saska., has encountered additional natural-hydrogen-rich fractures. It is also achieving 100-per-cent core recovery and continues beyond its originally planned depth.

Following the first 63 metres of core recovered from the Deadwood formation and the Precambrian in Core No. 1, as reported in Max Power's July 27, 2026, news release, an additional 57 metres has been recovered from cores No. 2 and No. 3, with Core No. 3 terminated at 2,397 metres. Cores No. 2 and No. 3 feature "exotic terrane" rocks that produced the highest gas detection readings recorded to date at Lawson, even beyond the highly elevated readings from Core No. 1. This has also continued the string of continuous natural hydrogen readings, along with helium spikes, that started just below 1,500 metres in the Upper Devonian. Drilling has resumed past 2,400 metres and the company looks forward to providing a fresh update during the week of Aug. 3.

Steve Halabura, Max Power chief geoscientist, commented: "These high natural hydrogen readings are associated with fractures that we are tracking with great interest. We have recovered more core from the basement complex than any other single well in Saskatchewan history, so our team is showing incredible efficiency and determination to drill as deep as possible. I'm eagerly anticipating a treasure trove of data and detailed visual analysis of the core."

The first 120 metres of core are now at AGAT Laboratories in Calgary for extensive core analysis.

Why this matters to investors

Every major resource industry reaches a defining moment when it transitions from discovery toward commercial validation.

This well represents that moment for Max Power.

For the first time, the company is testing whether Canada's first confirmed natural hydrogen subsurface discovery can demonstrate the scale, continuity and reservoir characteristics required for commercial development. The combination of continuous elevated natural hydrogen readings over 858 metres through Core No. 3, stronger readings than the original discovery well, and increasing evidence of a robust basement fracture system continues to strengthen the geological model while expanding the company's understanding of the broader Lawson system.

While commerciality will ultimately be determined through the completion program and subsequent flow, pressure, concentration, and reservoir performance testing, every milestone achieved during this program represents another step toward commercial validation. Together, these results are helping define the technical foundation for what could become the world's first large-scale commercial natural hydrogen system and development of a new primary energy source.

Genesis trend

Lawson complex No. 1 represents Canada's first natural hydrogen subsurface system, a 28 square kilometres area of focus within a broader permitted land package comprising 1,224 square km (the Lawson project). Notably, multiple Lawson complexes are possible within the massive underexplored Lawson project.

The permitted Aurora project (628 square km) adjoins the southeast corner of the Lawson project, striking southeast toward Moose Jaw, and represents what may be another set of complexes with many Lawson look-a-like features. Multiple natural hydrogen systems are possible within the Aurora project, similar to the situation at Lawson.

The Lawson-Aurora combination gives Max Power permits covering a contiguous 90 km long area striking northwest-southeast (1,852 square km). Aurora is favourably situated along a major highway and rail transportation corridor adjacent to heavy industry and emerging AI infrastructure. Multiple other permitted projects along Genesis give Max Power a dominating position in Canada's most exciting corridor for natural hydrogen discovery and development.

About Max Power Mining Corp.

Max Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The company's Lawson discovery near Central Butte, Sask., represents Canada's first-ever subsurface natural hydrogen system confirmed through deep drilling with data validated by three independent labs. Max Power has built dominant district-scale land positions across Saskatchewan with approximately two million acres (approximately 809,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of natural hydrogen and has commenced a multiwell follow-up drill program to validate the commerciality of the broader Lawson complex interpreted to cover a 28 square km area along the 475 km Genesis trend. Max Power also holds a significant equity position in Homeland Critical Minerals, which now owns the Willcox project in Arizona, a lithium discovery confirmed in early 2024 by Max Power. Max Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement and strong corporate governance.

We seek Safe Harbor.