Max Resource Completes Strategic Review – Plans To Spin Out Iron Ore Assets to “Max Iron Brazil Ltd” and Seek Listing on ASX

Vancouver, British Columbia–(Newsfile Corp. – November 4, 2024) – MAX RESOURCE CORP. (TSXV: MAX) (OTC Pink: MXROF) (FSE: M1D2) (“Max” or the “Company”) is pleased to announce that as a result of an internal strategic review of its asset portfolio, the Company has determined that the optimal pathway to maximize shareholder value is to spin out its Brazilian Florália Hematite Iron Ore Assets (“Florália Hematite” or “Florália”) into a new Australian entity, Max Iron Brazil Ltd. (“Max Brazil”) and seek listing on the ASX Limited (“ASX” or “Australian Stock Exchange”). In connection with the proposed spin out, Max Brazil will complete a reorganization of its current structure and complete pre-listing financing directly into Max Brazil to fund the proposed transaction and to advance drilling at the Floralia project. The spin out is anticipated to complete during the first quarter of 2025. The proposed spin out is the current intention of the Company and there in no assurance that the spin out will be completed or completed on the terms currently contemplated by the Company.