Max Resource announces an initial public offering for the Australian subsidiary of Investing.com

Vancouver, British Columbia–(Newsfile Corp. – January 9, 2025) – MAX RESOURCE CORP. (TSXV: MAX) (OTC Pink: MXROF) (FSE: M1D2) (“Max” or the “Company”) is pleased to announce that Max Iron Brazil Ltd. (“Max Brazil”), a majority-owned subsidiary of Max, intends to complete an initial public offering of at least 30,000,000 ordinary shares in the capital of Max Brazil (“Ordinary Shares”) at a price of AUD 0.20 per ordinary share for minimum aggregate gross proceeds of AUD 6,000,000 up to a maximum of 50,000,000 ordinary shares for a maximum aggregate proceeds of AUD 10,000,000 (the “Offer”). Upon completion of the Offer, Max will continue to be the controlling shareholder in Max Brazil, holding 88,000,000 ordinary shares and 12,000,000 performance shares.

Max Brazil will reimburse Max’s costs to date under the terms of the loan agreement and the remaining payments to Jaguar Mining (OTC:) Inc. (TSX: JAG) of $700,000.

In connection with the Offer, Max Brazil intends to list the Ordinary Shares on the ASX Limited (the “Exchange”). Max Brazil has applied to the ASX for in-principle advice on its suitability for official listing on the ASX. Max Brazil is yet to receive in-principle confirmation from the ASX, however, it will update the market in line with the Company’s ongoing disclosure obligations. Investors are cautioned that there is no guarantee that the ASX will approve Max Brazil’s proposal to list on the ASX.

Subject to obtaining in-principle approval from the ASX, Max Brazil plans to file a prospectus with the Australian Securities and Investments Commission in the first quarter of 2025.

The net proceeds of the Offering will be used, among other things, to advance the Florália DSO Hematite project located 67 km east of Belo Horizonte, Minas Gerais, Brazil, and for general working capital purposes.

The closing of the Offer is subject to a number of conditions, including the receipt of all necessary corporate and regulatory approvals. The Offer constitutes a “Reviewable Deposition” as defined in Rules 5.3 – Acquisition and disposal of non-cash assets TSX Venture Exchange (“TSXV”) and therefore the Offer is subject to the approval of the Company’s stockholders. The company will hold an annual general and special meeting on February 26, 2025, at which shareholders will be asked to make a regular decision to approve the offer.

There can be no assurance that the proposed Offer or listing of Max Brazil on the ASX will be completed on the terms set out in this announcement or that it will be completed at all.

The securities offered have not been registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of securities in any state where such offer, solicitation or sale would be illegal.

About Max Resource (TSXV:) Corp.

The Sierra Azul project, wholly owned by the company, is located along the Colombian part of the world’s largest production belt (the Andean belt), with world-class infrastructure and the presence of major global companies (Glencore (OTC:) and Chevron (NYSE:)). Max has an Earn-In Agreement (“EIA”) with Freeport-McMoRan (NYSE: ) Exploration Corporation (“Freeport”), a wholly owned subsidiary of Freeport-McMoRan Inc. (NYSE: FCX) related 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% equity interest in the Sierra Azul project by financing cumulative costs of C$50 million and cash payments to Max of C$1.55 million. Max is an early stage operator. The exploration program for the $4.2 million 2024 Sierra Azul project is funded by Freeport.

Florália DSO’s Hematite Project is located 67 km east of Belo Horizonte, Minas Gerais, Brazil’s largest iron ore and steel producing state. Max’s technical team significantly expanded the Florália hematite geological target from 8-12 mt at 58% Fe to 50-70 mt at 55%-61% Fe, with an additional hematite/itabirite geological target of 130-170 mt at 51%-55% Fe.

Max Brazil has now commenced the inaugural drilling programs on its Florália DSO Hematite project, which consists of approximately 1,200 meters of diamond and 800 meters using a mobile drill.

Max cautions investors that the potential quantity and grade of iron ore is conceptual in nature and further cautions that there has not been sufficient exploration to define the Mineral Resource, and Max is uncertain whether further exploration will result in the target being designated as a Mineral Resource.

The estimate of potential hematite mineralization tonnage is based on in situ high-grade outcrops and interpreted and modeled magnetic anomalies. The density value used for the evaluation is 2.8 t/m³. The proportion of hematite in the sample ranges between 55-61%Fe. The estimation of the potential tonnage of hematite/itabirite mineralization is based on interpreted and modeled magnetic anomalies of in situ hematite/itabirite outcrops. The density value used for the assessment is 2.5t/m3. The proportion of hematite/itabirite sample ranges between 51-55%Fe. 58 channel samples were collected for chemical analysis from in situ outcrops in previously mined slopes of industrial materials. The channel samples weighed an average of 14 kg. Chemical analysis was performed at ALS Laboratories. Metal oxides are determined by XRF analysis. Fusion discs are made with pulp samples and the addition of borate-based flux. Max has not injected standards or blanks into the assay flow and relies on ALS’ laboratory QA/QC.

For more information, visit: https://www.maxresource.com and https://maxironbrazil.com/.

For additional information contact:

Neither the TSX Venture Exchange nor its regulatory service provider (as that term is defined in the TSX Venture Exchange Rules) accepts responsibility for the adequacy or accuracy of this release.

This press release includes certain statements that may be considered “forward-looking statements”. All statements in this new release, other than statements of historical fact, relating to 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 similar expressions, or that events or conditions “will”, “would”, “could”, “could” or “should” occur. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Forward-looking statements in this press release include the expected offering of Max Brazil, the listing of Max Brazil on the ASX and the proposed use of proceeds from the offering. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, the continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those anticipated in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management as of 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 management’s beliefs, estimates or opinions or other factors change.

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