MAX.V · 2025-02-25 12:00:00

Max Resource Reports 1.6% Copper Over 55 Metres at Sierra Azul

Drill Results

• Significantly Expands Footprint at AM-13

• Discovers new Manto-Style Target: AM-15

• Approval of US $4.8M Fully Funded 2025 Budget

Vancouver B.C., February 25, 2025 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MAX;

OTC: MXROF; Frankfurt: M1D2) is pleased to announce assay results from composite channel samples

and expansion of the exploration target footprint at AM-13 to 1,500 by 100 metres . In addition, Max

reports the discovery of a new M anto-style target , AM-15 and the approval of a fully funded 2025

exploration budget of US$ 4.8 million all for the it’s wholly owned Sierra Azul Copper- Silver Project

(formerly know as the Cesar Project) located in northeastern Colombia (refer to Figures 1 to 6 and Tables

1 and 2).

Highlights

 AM-13: Exploration Target Increased to 1,500m by 100m

• Copper-silver mineralization identified over 1,500m of strike and open ended

• New composite channel assay results include:

 1.6% Copper & 6 g/t Silver over 55.0m (CS11)

 1.6% Copper & 7 g/t Silver over 49.0m (CS08)

 1.0% Copper & 6 g/t Silver over 26.0m (CS01)

• The 100m wide mineralized body rises over 300m in elevation between El Cedro and Mapurito

valleys suggesting significant depth potential

• Manto-style mineralization and alteration, similar to deposits in the Tocopilla – Taltal region of

northern Chile, where a mineralized corridor extends well over 100-km and hosts several

economic deposits including Mantos Blancos estimated to contain 500mt at 1% Copper

(Reference material on the Mantos Blancos deposit available here)

 AM-15: Discovery of New Manto Style Target Proximal to AM-13

• The new AM-15 discovery is located approximately 1,000m northwest of AM-13

• Early work suggests a large target footprint with five mineralized outcrops already identified

over a 100m by 300m and open in all directions

• High priority target based on potential size, grade and proximity to AM-13

 US $4.8 Million Exploration Budget for 2025

• Fully funded by Freeport McMoRan Exploration Corporation (“Freeport”)

• Three components to the 2025 exploration program:

 Drill Target Development

 District Scale Exploration

 Basin Scale Prospectivity Analysis

Max cautions investors copper-silver mineralization at Mantos Blancos is not necessarily indicative of

similar mineralization at Sierra Azul.

“The 2025 exploration season is off to an exceptional start with the significant footprint expansion at

AM-13 of over 30% coupled with the exciting new discovery of AM-15 underscore the potential of large-

scale copper silver discoveries within the Sierra Azul Project," commented Brett Matich, CEO of MAX.

“The US $4.8 million budget for 2025, fully funded by Freeport, is an increase of 14% compared with

2024 and is focused on the development of priority targets for drilling and the identification of new

significant size targets along the Serra Azul Project’s 120 km long mineralized trend,” he concluded.

Figure 1: AM-13 & AM-15 Target Zone

Image showing extended footprint of AM-13 in relation to the AM-15 discovery

AM-13

Figure 2: AM-13 Target Longitudinal Section

Topography and composite assays from channel samples collected along the strike of the AM-13 target

Figure 3: AM-13 Target Cross Section

Cross section showing composite assays of channel samples collected from the AM-13 exploration

target in El Cedro Valley

Work at AM-13 has identified an open -ended 1,500m by 100m exploration target, which is defined, in

part, by numerous outcrops of high-grade copper and silver mineralization (refer to Table 1 and Figures

2 & 3). The potential for significant size and grade at AM-13 has elevated it to one of the highest priority

targets on the Sierra Azul project.

Mineralization is observed filling fractures and vesicles within an andesitic tuff (a type of porous volcanic

rock) that has undergone chlorite and epidote hydrothermal alteration. The mineralized rock strikes

between 40° and 50° and, on average, dips at 7 0° NW. The mineralized unit rises more than 300m

between the El Cedro valley and the Mapurito valley 1,200m to the northeast, suggesting the potential

for significant depth extent.

Primary copper bearing minerals include native copper, chalcocite and bornite (refer to Figure 4). Trace

amounts of bitumen (a type of organic material) were also observed in the mineralized rocks which is

believed to be critical to the deposition of coppe r minerals from fluids that circulated within the Cesar -

Rancheria basin. The presence of native copper and chalcocite indicates the mineralized fluids were

sulphur poor leading to the precipitation of these high-grade ore-forming minerals.

The alteration of the host rocks and the copper bearing minerals observed at AM-13 appear to be similar

to the Manto deposits of northern Chile, including Mantos Blancos, which began production over 60

years ago and is estimated to have contained a total o f 500mt at 1 .0% Copper (Reference material on

the Mantos Blancos deposit available here ). Manto Blancos is one of a series of 8 Ma nto copper-silver

deposits in the Jurassic age volcanic and volcano -sedimentary rocks of northern Chile ( Reference

material on Manto deposits of northern Chile available here)

Figure 4: Mineralized Specimen from Mapurito Valley

Table 1: Summary of AM-13 Composite Channel Sample Assay Results

Rock Channel Sample No. Sample Method Width Copper Silver

(m) (%) (g/t)

AM-13_CS01 chip-channel 26.0 1.0 5

including chip-channel 7.0 1.6 9.6

AM13_CS08 saw-cut-channel 55.0 1.6 6

including chip-channel 15.0 3.4 14

and chip-channel 5.0 3.5 16

AM-13_CS11 chip-channel 49.0 1.6 7

Including chip-channel 14.0 2.6 12

and chip-channel 10.0 2.3 10

AM-13_C12 chip-channel 12.0 1.2 6

including chip-channel 4.0 1.6 6

AM-13_C13 chip channel 12.0 0.7 6

Including chip-channel 3.0 1.4 14

AM-15: New Discovery – Potential Manto-Style Parallel to AM-13

Max also announces the discovery of a new target, AM -15, located approximately 1,000m to the

northwest of AM-13 (refer to Figure 1). Early work suggests an exploration target extending over 1,000m

with five mineralized outcrops already identified over a 300m by 100m (refer to Table 2).

Similar to AM-13, mineralization is found filling fractures and vesicles of an andesitic tuff. Ore forming

minerals include chalcocite, malachite and azurite (see Figure 5). Chlorite, epidote and albite alteration

along with the presence of bitumen are also observed.

Table 2: AM-15 Highlight Composite Assay Results

Rock Channel Sample No. Sample Method Width Copper Silver

(m) (%) (g/t)

AM-15_CS01 chip-channel 2.0 4.0 35

AM15_CS02 chip-channel 12.0 0.7 7

AM-15_CS03 chip-channel 10.0 0.7 7

AM-15_C04 chip-channel 5.0 0.8 4

The proximity to AM-13, along with its potential size and grade have made AM-15 the focus of the target

development team. Work to extend the footprint of AM- 15 is underway and several additional

mineralized outcrops have been discovered. Initial follow -up exploration at the target will include

geological mapping, sampling and trenching.

Figure 5: AM-15: Mineralized Andesitic Tuff

Rock specimen showing chalcocite, malachite and azurite mineralization

Freeport McMoRan Funded US $4.8 Million Approved Exploration Budget for 2025

The 2025 exploration program at the Sierra Azul has three objectives: Drill Target Development, District

Scale Exploration and Basin Scale Analysis.

Drill Target Development

The Drill Target Development program will focus exploration on priority targets located in all three

districts of the Sierra Azul Project: AM, Conejo and URU (refer to Figure 6). The goal of the program is to

prepare the selected targets for drilling. The work program is well under way and includes detailed

geological mapping and soil sampling as well as planned ground geophysical surveys and detailed

structural analysis.

The initial focus of the target development 2025 campaign will be to continue exploration of the

Company’s top priority targets: AM-13 and AM-15. Detailed mapping to date, has identified mineralized

outcrops over large areas at both targets . Work to delimit the targets and establish continuity of the

mineralization is on-going.

District Scale E xploration

The District Scale Exploration Program commenced in 2024 and is designed to systematically evaluate

the entire Sierra Azul Project area with the goal of identifying additional priority targets for follow -up.

The program has two components: soil and stream sediment sampling

The district-scale soil sampling program comprises a total of 3,646 samples collected at 50 m intervals

along lines spaced 2 ,000m apart (refer to Figure 6). The sampling campaign commenced in 2024 and

approximately 27% of the planned samples have been collected.

Soil samples are initially analyzed in the field using XRF technology. This has led to the discovery of new

mineralized outcrops in the Conejo District. Laboratory analysis of the samples is also being conducted

and will identify more subtle copper anomalies and trends that can be followed up with detailed mapping

and soil sampling.

Stream sediments samples are also planned for 2025 and will complement the district-scale soil sampling

program. 200 stream sediment samples will be collected along the valleys that drain into the eastern

margin of the Cesar-Rancheria basin.

Basin Scale Analysis

An analysis of the evolution of the Cesar-Rancheria basin is being conducted to identify additional areas

prospective for copper. The Cesar -Rancheria basin stretches for more than 250 km, has demonstrable

potential for significant copper deposits and remains largely unexplored.

A model of the geological and structural evolution of the Cesar-Rancheria basin is being developed using

existing information including, seismic data, oil well logs, satellite imagery and regional geology. The

results of the analysis will be used to identify areas within the basin that have the right combination of

factors required to develop large scale copper deposits:

1. good structural development to allow the mineralized fluids to move through the geological

column.

2. presence of a chemical reductant that will cause copper minerals to precipitate from the fluids

and

3. permissive rock types to host the copper minerals.

Figure 6: AM-15: Map of Regional Soil Sample Lines at Serra Azul Copper Silver Project

Map of Sierra Azul Project showing priority targets and district-scale soil sample lines

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