Max Resource Reports Geophysical Results, New Assays and Mobilization of the Diamond Drill Rig to URU, CESAR Copper-Silver Project in NE Colombia

2022.09.28

Max Resource Corp. (“Max” or the “Company”) (TSX.V: MAX; OTC: MXROF; Frankfurt: M1D2) is pleased to report its ground-based IP and TMI anomalies correlated well with surface geochemical targets and successfully defined new drill targets at URU Central (URU-C and URU-CE). Mobilization of the drill rig is fully underway and continuous channel sampling at URU-CE returned 19.4m @ 1.3% copper + 2.5 g/t silver to be drill tested (refer to drone video in Figure 4a).

The 20-km-long URU District is located on the southern portion of the Company’s wholly owned 90-km-long CESAR copper-silver project in northeastern Colombia (refer to Figure 3 and 4).

The 14-line-km Induced Polarization (IP) and Ground Magnetometer (TMI) survey consisted of 7 lines spaced at 100m and with IP stations every 50m. At URU-C and URU-CE, the IP chargeability and TMI anomalies correlate with surface copper-silver mineralization, indicating extend of the mineralized zone to over 500m northeast, and dips to the east. Also, an extended 20-line-km TMI survey is underway testing the northern extensions of the TMI anomalies.

Mobilization Underway: Mobilization of the drill rig and related equipment nears completion; drilling will commence on or before October 11, 2022. The modular rig will run HTW or NTW diamond core and is capable of drilling to depths of 400m (refer to Figure 1).

Drilling Imminent: The first ever 2,000m program (8 holes from 5 pads) will drill test the main mineralized zones of URU-C and URU-CE. A second phase will immediately follow and continue through to year-end (refer to Figures 5 to 7).