Max Resource Extends Expiry Date and Amends Price on Share Purchase Warrants
LEGAL_45785431.1
Max Resource Extends Expiry Date and Amends Price on
Share Purchase Warrants
Vancouver B.C., February 5, 2025, – MAX RESOURCE CORP. (“Max ” or the
“Company”) (TSX.V: MAX; OTC: MXROF; Frankfurt: M1D2) announces the amendment
of certain common share purchase warrants originally issued by way of private placement
(the “Amendment”).
The Amendment consists of an aggregate 14,825,000 warrants issued on March 28,
2022, having an exercise price of $0.36, whereby the expiry date of the warrants will be
extended one additional year from March 28, 202 5 to March 28, 2026 and the exercise
price will be amended to $0.31.
The Company will not be sending out new warrant certificates pursuant to the Amendment
unless requested by the relevant holders. The Amendment remains subject to the
approval of the TSX Venture Exchange.
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 has an Earn- In Agreement
(“EIA”) with Freeport -McMoRan Exploration Corporation (“Freeport”), a wholly owned
affiliate of Freeport -McMoRan Inc. (“NYSE: FCX”) relating to the Sierra Azul Project.
Under the terms of the EIA, Freeport has been granted a two- stage option to acquire up
to an 80% ownership interest in the Sierra Azul Project by funding cumulative
expenditures of C$50 million and making cash payments to Max of C$1.55 milli on. Max
is the operator of the initial stage. The USD $4.2 million 2024 exploration program for the
Sierra Azul Project is funded by Freeport.
The Company’s Florália DSO Project is located 67-km east of Belo Horizonte, Minas
Gerais, Brazil’s largest iron ore and steel producing State. Max’s technical team has
significantly expanded the Florália hematite geological target from 8 -12mt at 58% Fe to
50-70mt at 55%-61% Fe.
Max Brazil has now commenced inaugural drill programs at the Florália DSO Project,
consisting of approximately 1,000m of diamond and 800m by a mobile power auger rig.
The Company has added an Australian entity, Max Brazil, to hold the “Florália DSO
Project” through the existing Canadian and Brazilian holding entities. As announced on
January 9, 2025, Max Brazil plans to seek listing on the ASX Limited ("ASX" or "Australian
Stock Exchange").
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.
LEGAL_45785431.1
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. Hematite mineralization
tonnage potential estimation is based on in situ hematite outcrop interpreted and modelled magnetic anomalies. Density value used
for the estimate is 2.5t/m3. The 58 channel samples were collected for chemical analysis from in situ outcrops in previou sly mined
slopes of industrial materials. Channel samples weighed in average 14 kg. 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.
For more information visit: https://www.maxresource.com and https://maxironbrazil.com/
For additional information contact:
Tim McNulty E: [email protected] T: (604) 290-8100
Rahim Lakha E. [email protected]
Brett Matich T: (604) 484 1230
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.
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release,
other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking
statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by
the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and simil ar expressions, or that
events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expres sed in
such forward-looking statements are based on reasonable assumptions, such statements are not guarant ees of future performance
and actual results may differ materially from those in the forward-looking statements. Forward looking statements in this news release
include the anticipated use of proceeds of the Offering. Factors that could cause the actual results to differ materially from those in
forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or
business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on
the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by
applicable securities laws, the Company undertakes no obligation to update these forward- looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.