Max Resource Conducts LiDAR Survey Over the Entire Mora Gold Property
Max Resource Conducts LiDAR Survey Over the Entire Mora Gold Property
Vancouver B.C., November 21, 2025 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MAX; OTC:
MXROF; Frankfurt: M1D2) is pleased to report that Max will be conducting an airborne high-resolution LiDAR
survey over the entire 700ha Mora mining concession KK6-08031, located within the productive Middle Cauca
Gold Belt host to several world class gold deposits, 85-km south of Medellin, Colombia, which the Company
has the exclusive right to purchase 100% (refer to Figures 1 and 2).
Highlights
• The LiDAR survey forms part of the initial steps to delineate high priority drill locations within the BQ,
BX, NAN targets and identify new targets.
• To date, 33 artisanal underground mines are noted in historic technical reports of which Max has
successfully mapped 9 inactive mines. The depth or advance of the artisanal mines varies between
5.0m and 90.5m. LiDAR can identify hidden artisanal mines/works due to tree and plant cover.
• Channel sampling artisanal underground mines is very important, it's almost like having a drillhole,
identifying geological characteristics of fresh rock such as lithology, hydrothermal alterations, types of
sulfides or mineralization, structures-uplifts-faults-veins and veinlets.
• LiDAR will assist in building an accurate 3D model, the key to maximizing the success of Max’s
planned drill program, being the first known drilling event on mining concession KK6-08031.
“The LiDAR datasets will be used to delineate drill design on the BX, BQ and NAN targets, providing
unprecedented ground details to be observed for the first time,” says Max Head Geologist Sergio Cocunubo.
“Sampling of artisanal mines and workings were significant steps conducted at Collective Mining’s
Guayabales and Continental Gold’s Buritica in which we identified geological characteristics and confirmed
active galleries in gold and silver production,” he concluded.
Figure 1. The LiDAR survey will consist of GSD (ground sampling space) between 2 and 7 cm. Longitudinal
overlap 80%, lateral overlap 75%, gimbal tilt angle – camera 90° with additional 60° photographs, flight speed
of 8 m/s – maximum 10 m/s, 155.5 line-km with 45-50m line spacing covering approximately 7.16km².
Figure 2. Mora Property encompasses over 40 historic workings, 5 active mines, a series of exposed
polymetallic structures over 2,500m by 1,000m.
Surface samples collected from San Juan and NAN by their nature are selective samples and may not be indicative of underlying mineralization.
What is LiDAR?
LiDAR is a relatively new technology whereby surface geomorphology patterns and outcrop patterns
suggestive of underlying geology and structure can be identified including subtle aspects and seeing through
the surface trees and plant cover that can hide surface details.
LiDAR is a modern remote sensing technique that concurrently takes high-resolution (hi-res) images and
builds a detailed digital terrain model (DTM) and detailed digital surface model (DSM) utilizing an extremely
sensitive and accurate digital mapping tool. Together, the DTM and Hi-Resolution images provide three-
dimensional (3D) model of the terrain, where additional data (geophysics, drilling, surface sampling, etc.) can
be incorporated to provide a multi-dimensional model from which multiple data sources can be interpreted
accurately, all in 3D high-accuracy system with more precise, efficient, and reliable geospatial data
acquisition. It delivers a turnkey solution for 3D data collection and high-accuracy post-processing. In
addition, is a particularly powerful tool for drill planning as it significantly reduces the risk of interpreting data
in only two dimensions.
LiDAR is the acronym for Light Detection and Ranging. It is a relatively new active remote sensing technology
using a laser scanner, Global Positioning System (GPS) RTK with GNSS station, and inertial navigation. In the
same way that SONAR uses sound waves and reflection to detect targets and determine distance (think of the
ping heard in a submarine scene from a war movie), LiDAR uses laser pulses with their timed reflectance to
determine the target distance. This process is illustrated in Figure 3.
The LiDAR survey distinguishes down to the multi-centimeter scale coupled with orthophotography remote
sensing images and techniques. This combination of LiDAR and orthophoto combined relies on rigorous,
high-quality data collected under strict QA/QC standards and is most useful for delineating linear features
such as faults, uplifts, quartz veins or resistant rock types with hydrothermal alteration such as silicification.
Figure 3. Drone LiDAR topography scanning process Illustration
Discussion of the Mora Gold-Silver Project
In August 2025, through its wholly owned subsidiary Maximum Company Colombia S.A.S., Max entered into a
purchase agreement to acquire 100% of the common shares of Inversiones Villamora S.A.S., a Company in
Colombia that owns 100% of mining concession number KK6-0831 ("Mora Property").
Highlights
• The undrilled Mora Property encompasses over 40 historic workings, 5 active mines, a series of
exposed polymetallic structures over 2,500m by 1,000m, adjacent to Aris Mining’s (TSX: ARIS, NYSE:
AIMN) 9.2Moz Marmato Gold Operation (P&P Reserves: [email protected] g/t Au for 3.2Mozs, M&I
Resources: [email protected] g/t Au for 6.0Moz, Inferred Resources: 35Mt at 2.4 g/t Au for 2.8Mozs ¹).
• Aris Mining’s Marmato Property abuts the 2.8 km eastern boundary, and Collective Mining’s (TSX:
CNL, NYSE: CNL) Guayabales Project abuts along 3.7 km north (Apollo Porphyry System), west,
south, and vertical east boundaries of the Mora Property.
• Highlight, Mora Property channel sample results include (refer to Table 1)
o 45.0 g/t gold & 7,110 g/t silver over 1.0m; 32.0 g/t gold & 53 g/t silver over 1.0m.
o 27.0 g/t gold & 732 g/t silver over 1.0m; 8.9 g/t gold & 75 g/t silver over 1.5m.
Max advises investors that the gold mineralization at the Marmato gold deposit and the Apollo porphyry zone may not necessarily by indicative of similar
mineralization at the Mora Property. Max further advises the QP has been unable to verify the information on Marmato and Guayabales and that the
information is not necessarily indicative to the mineralization on the Mora Property.
In September 2025, Max reported the appointment of Mr. Sergio Cocunubo as Head Geologist, reuniting with
key Technical Advisor Dr. Chris Grainger and Community Relations specialist Mr. John Henao, all key
members of the Collective Mining and the Continental Gold team that developed the Buriticá Gold Deposit³
Deposit (P&P Reserves: 3.8Mozs at 6.9 g/t Au & 13Mozs at 24g/t Ag in 15.61Mt and M&I Resources: 4.4Mozs
at 8.9 g/t Au & 14.6Mozs at 29 g/t in 14.02Mt plus Inferred Resources: 5.1Mozs at 8.9 g/t Au & 18Mozs at 29 g/t
Ag in 16.2Mt³), sold to Zijin Mining for US $1.4 billion in 2019.
The Company’s 2025 exploration program is well underway, includes collection of geological and geophysical
data, channel sample all active and historical artisanal mines/workings, outcrops, airborne LiDAR, 3D
geological/DTM/topographic modelling and delineation of drill targets. Exploration update is due shortly.
https://www.youtube.com/watch?v=Ob-AFDysVwo
Table 1. Highlight Assay Results for 2012² and 2025 Field Investigations.
Corporate Update
Under the terms of the Agreement, whereby the Company’s wholly owned Colombian subsidiary, Maximum
Company Colombia S.A.S. (“Maximum”) has the exclusive rights to acquire 100% of Mining Concession No.
KK6-08031 through the purchase of Inversiones Villamora S.A.S., to date, Max confirms option payments
totaling USD $250,000.
The Company has entered into a debt settlement agreement with an arm's-length creditor to settle
outstanding indebtedness totaling $60,000 (the “Debt Settlement”). Pursuant to the Debt Settlement, the
Company will issue 500,000 common shares at a deemed price of $0.12 per share. The board of directors has
UTM Gold Silver Arsenic Zinc Sample Type ID
432432E/604753N 45.0 g/t 7,110 g/t 1.0m channel 6
431876E/604452N 36.7 g/t - 2.0m channel 1
430940E/604972N 32.0 g/t 53 g/t 1.0m channel 20
432445E/604726N 27.0 g/t 732 g/t 1.0m channel 7
431090E/602782N 8.9 g/t 75 g/t 1.5m channel 22
432243E/604575N 1.6 g/t 73 g/t 0.3m channel 15
431822E/604471N 1.2 g/t 877 g/t 1.0m channel 19
432304E/604822N 10.2 g/t 211 g/t 0.5% 2.3% Grab 1 - G503870
432403E/604945N 3.3 g/t 87 g/t 0.7% 0.1% 1.0m channel 2 - G503866
431884E/604446N 2.6 g/t 45 g/t 3.4% 0.01% 1.0m channel 3 - G503869
435336E/603379N 21.4 g/t 156 g/t 0.15% 5.60% 1.0m channel 4 - G503857
435238E/603393N 1.6 g/t 22 g/t 0.07% 1.70% 1.0m channel 5 - G503862
San Juan Sector - 2012²
San Juan Sector – 2025
Nan Prospect – 2025
determined that completing the Debt Settlement is in the best interests of the Company as it will preserve
cash for working capital purposes and strengthen the Company's balance sheet. The Debt Settlement
remains subject to TSX Venture Exchange approval. All shares issued will be subject to a hold period of four
months and one day from issuance.
In addition, the Company has granted 11,500,000 Performance Share Units (“PSUs”) to certain consultants of
the Company pursuant to the Company’s Omnibus Equity Incentive Compensation Plan (the “Omnibus
Plan”). The PSUs will vest upon the consultants completing one year of service with the Company. All PSUs
are subject to a hold period of four months and one day. The PSUs have been granted under and are governed
by the terms of the Company's Omnibus Plan.
Quality Assurance
Max adheres to a strict QA/QC program for sample handling, sampling, sample transportation and analyses.
All 21 rock samples were taken by the Max consulting geologist, labelled, placed in sealed, securitized bags
and shipped to ALS Lab's sample preparation facility in Medellin, Columbia. ALS Medellin is an ISO 9001:
2008 certified facility and is independent of Max. All samples were analyzed using ALS procedure ME-ICP61, a
four-acid digestion with inductively coupled plasma finished. Over-limit gold is determined by ALS procedure
Au-GRA21 a 30-gram fire assay with a gravimetric finish. Over-limit silver, lead, arsenic and zinc were
determined by ALS procedure OG-62, a four-acid digestion with an atomic absorption spectroscopy finish.
At this early stage of exploration, Max has relied on the QA/QC protocol's employed by ALS.
Sierra Azul Copper-Silver Project in Colombia
Max's wholly owned Sierra Azul Copper-Silver Project sits along the Colombian portion of the world’s largest
producing copper belt (Andean belt). Max has an Earn-In Agreement (“EIA”) with Freeport-McMoRan
Exploration Corporation (“Freeport”), a wholly owned affiliate of Freeport-McMoRan Inc. whereby the fully
funded USD $4.8m 2025 exploration program is well underway. Updated exploration results are due shortly.
Florália Property in Brazil
The Florália Iron Property (mineral right 832.022/2018) in Brazil lies within Minas Gerais, Brazil’s largest iron
ore and steel producing State. The Property has established road access to rail terminal (15 km) linking to
steel mills and shipping ports; roads connect to DSO buyers Vale (16 km) and ArcelorMittal (26 km) ensuring
efficient logistics and market access. Max’s technical team has significantly expanded the Florália Iron
Geological Target from 8-12Mt at 58% Fe to 50-70Mt at 55%-61% Fe (refer Figure 4).
Max’s majority owned Max Iron Brazil Ltd. has entered into a non-binding letter of intent with Bolt Metals Corp.
(“Bolt”) whereby Bolt may acquire an option to earn a 100% interest in the Floralia Property mineral right
832.022/2018 in Brazil (the “Property”). Under the proposed terms, Bolt will pay USD$200,000 to Jaguar
Mining Inc. on behalf of Max Iron Brazil Ltda. (“Max Brazil”), keep the Property in good standing, and issue an
aggregate of 26,200,000 common shares to Max Brazil and 6,094,679 common shares to Max Resource Corp.
over a 30-month period. Completion of the transaction remains subject to satisfactory due diligence,
definitive documentation, and applicable regulatory approvals.
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 geological 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 2.8t/m³. Hematite sample grades range between 55-61% Fe. The 58 channel samples were collected
for chemical analysis from in situ outcrops in previously mined slopes of industrial materials.
Figure 4. Florália Property located nearby infrastructure and markets
Qualified Person
The Company's disclosure of a technical or scientific nature in this news release was reviewed and approved
by Tim Henneberry, P.Geo (British Columbia), a member of the Max Resource advisory board, who serves as a
qualified person under the definition of National Instrument 43-101.
Name Highlights Reference
News Release²
Dec 20, 2012
Crown Gold Corp. (TSXV: CWN)
Mora Property
Scott Franko, senior consultant to Crown Gold and a registered
Professional Geologist was designated as the Qualified Person under NI
43:101 for the Colombian Mining Project
Marmato Gold Deposit¹ Aris Mining (TSX: ARIS, NYSE: AIMN) https://aris-mining.com/operation/reserves-and-resources/
P&P Reserve: 31.28Mt at 3.16 g/t Au for 3.178Mozs
M&I Resources: 61.50Mt at 3.03 g/t Au for 5.997Mozs
Inferred Resource: 35.60Mt at 2.43 g/t Au for 2.787Mozs
Buriticá Gold Deposit³ Zijin Mining – Continental Gold https://www.zijinmining.com/global/program-detail-71741.htm
P&P Reserve: 3.8Mozs at 6.9g/t Au&13Mozs at 24g/t Ag in 15.61Mt
M&I Resource: 4.4Mozs at 8.9g/t Au&14.6Mozs at 29g/t in 14.02Mt
Inf. Resource: 5.1Mozs at 8.9g/t Au&18Mozs at 29g/t Ag in 16.2Mt
Table 2. References
For more information visit on Max Resource: https://www.maxresource.com/
For additional information contact:
Tim McNulty E: [email protected] T: (604) 290-8100
Brett Matich T: (604) 484 1230
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or accuracy of this release.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipat e", "estimate" and other similar words, or
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and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking
statements including, but not limited to delays or uncertainties with reg ulatory approvals, including that of the TSXV. There are uncertainties inherent in forward- looking
information, including factors beyond the Company’s control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release
will come into effect on the terms or time frame described herein.
The Company undertakes no obligation to update forward- looking information if circumstances or management's estimates or opinions should change except as required by
law. The reader is cautioned not to place undue reliance on forward- looking statements. Additional information identifying risks and uncertainties that could affect financial
results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedarplus.ca.