MAXX.CN · 2026-01-30 12:00:00

Max Power Mining prepares to drill Bracken well

Corporate Updates

CSE: MAXX | OTC: MAXXF | FRA: 89N

15 Innovation Boulevard

Saskatoon, SK S7N 2X8

[email protected]

MaxPowerMining.com

MAX POWER PREPARES TO DRILL SECOND

NATURAL HYDROGEN WELL AS PROGRAM

EXPANDS 325 KM SW OF LAWSON DISCOVERY

▪ Newly acquired proprietary 2D seismic data has allowed for delineation of a technically robust Natural Hydrogen

drill target at “Bracken” on the Grasslands Project along the Saskatchewan-Montana border

▪ Bracken will test a second “play concept” with its own unique trap and seal mechanisms compared to Lawson,

Canada’s first Natural Hydrogen drilling discovery 325 km to the northeast

▪ Bracken, on a different trend than Genesis, further highlights scale and repeatability potential of Natural

Hydrogen accumulations across the province of Saskatchewan where MAX Power owns Canada’s largest

permitted land package for this emerging new primary energy source

▪ Drilling at Bracken will occur in parallel with advancement of Lawson toward potential commerciality

MAX Power Saskatchewan Natural Hydrogen Documentary Video

https://www.maxpowermining.com/NaturalHydrogen-NewEra/

SASKATOON, SK (January 30, 2026) - MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF ; FRANKFURT:

89N) (“MAX Power” or the “Company”) is pleased to announce that in parallel with the ongoing analytical testing, resource

modelling, and resource estimation program at its Lawson Natural Hydrogen Discovery in the heart of the 475 -km-long

Genesis Trend, the Company has identified a robust target for near -term drilling of a second “play concept” for Natural

Hydrogen in Saskatchewan. Licensing is underway to commence the “Bracken” well along the Saskatchewan-Montana border

in February.

With a Natural Hydrogen discovery now confirmed at Lawson, MAX Power is advancing toward potential

commercialization while simultaneously testing additional play concepts across Saskatchewan. The Bracken well represents

an important step in demonstrating b asin-scale continuity, supporting the geological team’s interpretation that Natural

Hydrogen systems in Saskatchewan are repeatable and scalable across multiple trends.

Bracken Highlights

▪ The Bracken well location was generated through an integrated geophysical and geological workflow leveraging 34.3-

line kilometers of newly acquired proprietary 2D seismic data combined with legacy 2D seismic.

▪ This dataset was rigorously interpreted to delineate basement architecture, structural and stratigraphic pathways, and

prospective migration corridors considered critical to Natural Hydrogen and associated clean gas accumulation.

▪ Like Genesis to the northeast, the Grasslands Project is considered prospective for multiple potential Natural Hydrogen

discoveries that may also include helium.

▪ Bracken and the broader Grasslands Project is benefiting from, and informing, the Company’s in-house AI-assisted

Large Earth Model Integration (LEMI) platform known as MAXX LEMI, MAX Power’s proprietary tool to optimize

Natural Hydrogen exploration and drill target selection.

Mr. Steve Halabura, MAX Power’s Chief Geoscientist, commented: “We’re very excited regarding Bracken given the

amount of data we have from the area and all that we’ve learned from Lawson. Bracken is where the MAX Power team first

discovered Natural Hydrogen in the sub-surface in Saskatchewan, through historical drilling, and the broader area is a known

helium fairway. At Bracken, we’ll be testing a stratigraphic play concept vs. the structural play concept successfully developed

at Lawson and across the Gen esis Trend. There are some similarities in the Natural Hydrogen geological model between

Bracken and Lawson, but each has its own unique trap and seal mechanisms.”

Mr. Ran Narayanasamy, MAX Power CEO, added: “We continue to move at a rapid pace with respect to Natural

Hydrogen exploration and development in Saskatchewan where we have the advantage of a mature and favorable policy

framework. This also highlights the stark timeline difference between exploration and potential commercialization of Natural

Hydrogen vs. traditional mineral and metal projects. This is months to molecules, not years. Our goal is to quickly unlock

scalable, low-carbon energy resources in Saskatchewan, and leverage the MAXX LEMI model for Natural Hydrogen on a

global basis.”

Bracken and the Grasslands Project

The Bracken prospect forms part of a broader, regionally extensive exploration fairway across MAX Power’s 75 -km-wide

permitted Grasslands Project. This emerging play has meaningful district -scale potential, with Bracken serving as a key

calibration point for future drilling locations. Success at Bracken would materially de-risk additional prospects already defined

within the seismic and MAXX LEMI framework, positioning MAX Power to rapidly advance a growing inventory of follow-

up targets across its highly prospective Saskatchewan portfolio.

Figure 1: Grasslands Project Map

Why This Matters to Investors

Advancing a second, independently derived Natural Hydrogen play concept a few hundred kilometers from Lawson in the

southwest corner of the province reinforces that the Company’s opportunity extends beyond a single discovery or trend and

into a potentially very large basin -scale system. Lawson has validated MAX Power’s geological model for Natural

Hydrogen, a model that includes multiple play concepts – the second of which will be tested at Bracken with strong

confidence given recently interpreted proprieta ry 2D seismic data combined with initial success at Lawson. As

commercialization efforts advance at Lawson, drilling at Bracken provides an opportunity to further define scale, potential

economics, and long-term development possibilities for Natural Hydrogen in Saskatchewan.

Options and RSUs Granted

The Company announces that it has granted 3,415,000 stock options at an exercise price of $1.08 with a 3-year expiry, and

2,990,000 restricted stock units (RSUs) to management, directors, and consultants of the company. The stock options and

RSUs will vest in accordance with vesting terms to be determined by management and subject to the terms and conditions

of the Company's stock option and restricted stock unit plan.

MAX Power Enters into Marketing Agreements

The Company has entered into a service agreement with Apollo Shareholder Relations Ltd. (“Apollo”) to provide investor

awareness and investor communications services. Under the agreement, Apollo will conduct digital investor relations and

communications activities intended to increase awareness and understanding of the Company and its business.

The agreement has an initial term of six (6) months, commencing January 23, 2026, and may thereafter continue on a month-

to-month basis. Under the agreement, the Company will pay Apollo an aggregate cash fee of $45,000, payable over the

initial term, and will grant 100,000 stock options, subject to board approval. The stock options will be issued in accordance

with the Company’s stock option plan and applicable securities laws. The agreement contains no performance -based

compensation.

Apollo and the Company are arm’s length and unaffiliated parties. At the time of the agreement, Apollo and its principals

advised that they did not hold any direct or indirect interest in the securities of the Company.

Contact information for Apollo Shareholder Relations Ltd.

4505 Waldy Road

Cowichan Bay, British Columbia V0R 1N2

Principal: Jazz Chodak

Email: [email protected]

MAX Power has also entered into a communications services agreement with BW Venture Strategies Inc. (“Venture

Strategies”), effective January 19, 2026, to provide public relations and media relations services, including strategic

communications and media outreach.

The agreement has a term of six (6) months, with total fees of $10,000 per month, payable in cash. Venture Strategies is not

providing investor relations services as defined under Canadian Securities Exchange policies, will not receive any equity

compensation, and is arm’s length to the Company.

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Figure 2: Drilling of Lawson Discovery Near Central Butte, SK, in November 2025