MAX Resource Corp. Closes Private Placement
MAX Resource Corp. Closes Private Placement
Vancouver B.C., May 1, 2020 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC: MXROF;
Frankfurt: M1D2) is pleased to announce it has closed a non-brokered private placement financing for total gross
proceeds of CAD $297,825.08 (the “Private Placement”).
The Company has allotted and issued 3,971,001 flow-through units (the “FT Units”) at a price of CAD $0.075 per FT
Unit. Each FT Unit is comprised of one flow-through common share and one-half of one warrant. Each whole warrant
will entitle the holder to purchase one non-flow through common share for a period of two (2) years at a price of
CAD $0.10 per share.
In addition, the Company has paid finder’s fees of $19,926.01 and issued 265,680 finder’s warrants (the “Finders
Warrants”) to an arm’s-length party. Each Finders Warrant is exercisable into one common share for a period of up
to two (2) years at a price of CAD $0.10 per share.
The Company intends to use the proceeds from this Private Placement towards exploration on its EBAY Palladium
Project in Quebec. The Private Placement is subject to final TSX Venture Exchange approval and all securities issued
are subject to a four-month-and-one-day hold period.
EBAY Palladium-Platinum Project
The EBAY Palladium Project, located 30-km SE of Matagami in the Abitibi Region of Quebec, Canada, is underlain by
the Archean Bell River Complex, a layered mafic intrusion measuring 65-km by 15-km and 5-km thick.
Exploration between 2000 to 2008 returned highlight values of:
• 4.9 g/t palladium-platinum from a 4 to 5-metre-wide zone; 3.0 g/t palladium + 1.4 g/t platinum + 0.12
rhodium in 2005;
• 2.5 g/t palladium-platinum from a newly discovered 500-metre-long zone in 2006;
• all sampling consists of blast pit grab material.
The Company cautions investors that grab samples are selected samples and are not necessarily representative of
mineralization.
The EBAY PGE reef-type discovery resulted from drilling in 2006 which intersected 1.9 g/t palladium-platinum over
3.0 metre from 80.5 to 83.5 metre. Further drilling identified a new zone comprising 600 metres of strike, 120 metre-
deep, 6.7 to 31.1 metre-wide, open in all directions, with highlight values of 2.5 g/t palladium-platinum. Subsequent
aero-magnetic surveying extended the target zone to 4.8-km of strike (news release March 25, 2020).
Max is planning an exploration and drilling program.
CESAR Copper-Silver Project
Wholly-owned CESAR project in north east Colombia lies within Jurassic sediments and volcaniclastics that extend
the length of northern South America. These Jurassic rocks also host significant stratabound copper -silver
mineralization in both Ecuador and Peru. CESAR lies along a historic 120-km copper-silver belt within a major oil-
gas and coal mining district. The region has excellent infrastructure, shipping ports, airports, townships, railways
and roadways.
Early success includes:
• The AM North discovery consisting of a 1.8-km horizon open along strike, down and up dip; values of 24.8%
copper + 230 g/t silver over a 4 metre by 1metre rock chip panel and 1.8-km along strike to the east, returned
10.4% copper + 88 g/t silver over 1metre interval;
• The AM South discovery, located 40-km SSW along the same mineralized trend, consists of open-ended
mineralized horizons totaling over 5-km of strike, returned rock chip highlight values of 5.4% copper and 63
g/t silver from 0.1 to 25 metre intervals;
• The University of Science and Technology (“AGH”), Krakow, Poland has now commenced a mineralogy and
geochemical studies on CESAR. AGH will utilize extensive knowledge from KGHM’s world renowned
Kupferschiefer sediment-hosted copper-silver deposits in Poland, on the academic study of CESAR.
• Max intends to release an exploration update shortly.
About Max Resource Corp.
With its successful exploration and management team, Max Resource Corp. is advancing both its copper, silver and
precious metals landholdings in the rich mineral belts of Colombia, and it’s EBAY Palladium-Platinum landholdings
in Quebec, Canada. Each of these belts has potential for the discovery of large-scale mineral deposits attractive to
major partners.
For more information visit: https://www.maxresource.com/
For additional information contact:
Max Resource Corp.
Tim McNulty
T: (604) 290-8100
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy 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", "anticipate",
"estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based
on the opinions and estimates at the date the statements are made 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 regulatory 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.sedar.com