Max Resource to Purchase the Florália Hematite Iron Ore Property in Brazil

Vancouver B.C., May 16, 2024 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MAX; OTC: MXROF; Frankfurt: M1D2) is pleased to announce the completion of diligence in regard to a conditional Letter of Intent (“LOI”) with Jaguar Mining Inc. (“Jaguar”), signed on April 12, 2024. The LOI outlines the terms of purchasing 100% of the Florália hematite iron ore property (the “Property” or “Florália Property”) located 120-km east of the city of Belo Horizonte in the State of Minas Gerais, Brazil (refer to Figure 1).

The Property is located within 20-km of major, iron ore mines and steel mills (iron ore furnace).