Max Resource Reports Update on the Floralia Iron Ore Property
Max Resource Reports Update on the Floralia Iron Ore Property
Vancouver B.C., October 23, 2025 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MAX; OTC: MXROF; Frankfurt:
M1D2) is pleased to report that the Company’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”). This supersedes the initial public offering and reviewable deposition whereby a special
meeting held on February 26, 2025, shareholders of the Company approved an ordinary resolution approving the undertaking of an
initial public offering and Reviewable Deposition as defined in Policy 5.3 by the Company’s majority owned subsidiary, Max Iron
Brazil. There was overwhelming support with 99.55% of shares voted at the meeting in favour of the resolution.
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.
Summary of Max Resource Mineral Properties
Mora Gold Property in Colombia
• 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: 31.3Mt @ 3.2 g/t Au for 3.2Mozs, M&I Resources: 61.5Mt @ 3.0 g/t Au for 6.0Moz ¹) 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 (refer to Figure 1 and Table 1).
• Appointment of Mr. Cocunubo as Head Geologist and Mr. Henao Head of Community Relations both acted the same roles
for Collective Mining (TSX: CNL) joining Co-Founder of Collective Mining, Dr. Grainger who acts as Technical Advisor.
• The geological team has commenced channel sampling of active underground artisanal mines, depth and advance ranges
from 5m to 90m. This important step allows visual identification of the geological characteristics of fresh rock such as
lithology, hydrothermal alterations, types of sulfides or mineralization, structures-faults-veins and veinlets. The Company
will release exploration results shortly.
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.
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 Ore Property 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 Hematite DSO Geological Target from 8-12Mt at 58% Fe to 50-70Mt at 55%-61% Fe (refer Figure 2).
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 1: Mora Gold-Silver Property regional and local location maps
https://www.youtube.com/watch?v=Ob-AFDysVwo
Table 1: Highlight Assay Results for 2012² and 2025 Field Investigations.
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
Figure 2: 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
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
Guayabales Project² Collective Mining (TSX: CNL, NYSE: CNL) https://collectivemining.com/
Apollo: 497m at 3.0 g/t AuEq.
Trap: 632m at 1.1 g/t AuEq.
Plutus: 301m at 3.0 g/t AuEq.
Ramp: 75m at 8.0 g/t Au
ME: 111m at 1.0 g/t AuEq.
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
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", "anticipat e", "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.sedarplus.ca.