Mr. Ran Narayanasamy reports

MAX POWER COMMENCES SECOND COMMERCIAL VALIDATION WELL AT LAWSON TO TRIANGULATE CANADA'S FIRST NATURAL HYDROGEN DEPOSIT

After successfully casing Max Power Mining Corp.'s Lawson 2 well, which further supports the existence of a large and robust natural hydrogen system at the 28-square-kilometre Lawson complex, commercial validation drilling has moved approximately 2.2 kilometres to the east to a location that will triangulate the deposit for modelling by GLJ Ltd., one of the world's leading independent energy consultants.

Drilling at Lawson 3 began last evening (Aug. 5). Notably, this well was spudded 1.2 kilometres south of the original Lawson natural hydrogen discovery (Lawson 1), which achieved total depth of 2,278 metres and recorded natural hydrogen free gas flow to surface with significant concentrations during the completions stage (refer to Jan. 16, 2026, news release).

Concurrently with the drilling of Lawson 3, GLJ is carrying out extensive data integration from the first two wells and will work with the Max Power technical team to further advance the modelling of the deposit and select an optimal location for the drilling of Lawson 4. Completions testing and a potential production well will follow Lawson 4.

Mr. Steve Halabura, Max Power chief geoscientist, commented: "Lawson 2 has further demonstrated that we're into a large Alkaline igneous complex with all the ingredients necessary to generate accumulations of natural hydrogen -- the right source rocks, migration pathways, reservoirs, seals and traps. It's an extraordinary system that we're tapping into -- Canada's first confirmed subsurface natural hydrogen system backed by a geological model that has not only stayed intact, but has strengthened over the course of the past year. Core from Lawson 2 is now ready for full visual inspection and analysis and I'm eagerly anticipating immediately reviewing this core with our full technical team at AGAT Labs in Calgary."

Lawson 2 highlights

• Approximately 860 metres of continuous natural hydrogen readings from gas detection system including highest readings recorded to date at Lawson;
• Strong evidence of an enhanced fracture system, part of the generative mechanism for natural hydrogen;
• "Exotic terrane" source rocks favourable for natural hydrogen;
• 120 metres of core recovered from the basal Deadwood and the Precambrian basement complex, including the most core (89.2 m) recovered from the basement complex from a single well in Saskatchewan history (just over 100 drill holes out of approximately 167,000 in the provincial database have ever even penetrated the basement complex according to the Saskatchewan Geological Survey);
• Lawson 2 was extended beyond its originally planned depth to a total measured depth of 2,440 metres, 162 metres deeper than Lawson 1, before being terminated in competent Precambrian basement rock.

Ran Narayanasamy, Max Power chief executive officer, commented: "Lawson 2 is confirming a very large system first indicated by the 3-D seismic survey this past spring following the initial drilling discovery. Now we're aiming for the hat trick by triangulating the Lawson deposit within an approximately 14 square km structural closure. Keep in mind, the broader Lawson permit area is 1,224 square km, and that's still just a fraction of the Genesis trend and our other permitted land packages in Saskatchewan. So the scale of opportunity here is truly enormous, representing a potential nation-building project for a new primary energy source at a critical time for Canada's energy sovereignty and security."

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 approximately 860 metres at Lawson 2, 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.

Drilling at Lawson 3, up-dip about 1.2 km south of the original discovery, will now attempt to triangulate a natural hydrogen deposit to aid in the understanding of the potential volume of this system that has yet to be constrained.

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 km area of focus within a broader permitted land package comprising 1,224 square km. 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 lookalike 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 (artificial intelligence) 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.

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