MAX Power Nearly Triples Size of Rider Natural Hydrogen Project, Stakes 2,112 Additional Sq. Km

VANCOUVER, Aug. 06, 2024 - MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) ("MAX Power" or the "Company") has nearly tripled the size of its recently announced Rider Natural Hydrogen Project along the expanded Torquay-Rocanville Corridor in southeast Saskatchewan (refer to August 1, 2024 news release).

Highlights:

• Rider is Canada's largest Natural Hydrogen target area and now covers 3,356 sq. km with MAX Power's staking of an additional eight claim blocks comprising 2,112 sq. km;
• Extensive research and data modelling have demonstrated that the favorable Torquay-Rocanville Corridor extends significantly to the east based on newly-identified historical Natural Hydrogen occurrences and favorable geology;
• The additional staking also includes a large claim block ("Tribune") contiguous to the south and west of the Weyburn Block announced August 1, 2024. At Tribune, an 87.1% historical hydrogen showing in an old well is very close to a major lineament approximately 40 km due south of the 96.4% hydrogen showing at Weyburn;
• Each of these additional claim blocks, under application, includes evidence of potential upward migration of hydrogen to surface, possibly through serpentinization or fracture zones.

Mr. Rav Mlait, MAX Power CEO, commented: "What our leading team of Natural Hydrogen experts are finding in Saskatchewan is truly quite remarkable in terms of historical data and the broader geological context for this potential alternate energy source. This is ticking all the boxes on our proprietary model, putting Saskatchewan in a very favorable position for the discovery of North America's first 'deposits' or accumulations of naturally occurring hydrogen gas."

Highlights of Newly-Acquired Claim Blocks

"Tribune"

The Tribune Block is a large east-west orientated area contiguous to the Weyburn Block. There are a series of wells with anomalous hydrogen data. The most significant value is 87.1% hydrogen in the 101/13-29-002-14W2/00 well. The key structure in the Tribune area is the NW-SE striking Missouri Couteau. The wells with hydrogen values are very close to this major lineament.

"Bromhead"

The Bromhead Block is situated in between the Tribune and Torquay blocks. This area starts at the U.S. border and continues northward to the village of Bromhead. Clusters of hydrogen showings are present in historic wells, especially an east-west trend just north of the international border.

"Alameda"

The Alameda Block is situated just west of the town of Alameda and a short distance northeast of the city of Estevan and next to the Lampman West Block. There are several wells of interest on this property with hydrogen values as high as 20.2%.

"Torquay"

The Torquay Block is situated west of Estevan near the village of Torquay where hydrogen values in historical wells are as high as 11.0%.

"Macoun"

The Macoun Block is oriented NW-SE and is located northwest of Estevan and past the town of Midale. Macoun is situated along the Elbow-Weyburn Lineament, the same structure that's very close to the 96.4% well on the Weyburn Block.

"Estevan and Estevan North"

The Estevan and Estevan North Blocks are situated near the city of Estevan and stretch from the U.S. border north toward the Lampman West Block. There are wells with anomalous hydrogen values. Several NW-SE striking lineaments terminate in the area, notably the Winnipegosis Lineament.

"Kisbey"

The Kisbey Block is situated between the Stoughton, Midale and Lampman West Blocks. Several wells have historical hydrogen values as high as 14.8%.

Moving Forward

• Geologists are designing a near-term program to verify and validate the existence of a naturally occurring hydrogen trend or trends at Rider;
• MAX Power continues to review an extensive array of datasets in Saskatchewan and elsewhere with an aggressive plan to further build on its first mover advantage in the Natural Hydrogen sector in Canada and the United States;
• Pro-energy and pro-business Saskatchewan is exceptionally positioned to become the first jurisdiction in North America to produce Natural Hydrogen given a combination of highly favorable geology and a clearly defined policy framework for exploration and development of this important new alternate energy source.
  

Figure 1: Map showing the location of MAX Power's Natural Hydrogen Permit Applications

Proposed Model for the Source of Natural Hydrogen and its Concentration in Saskatchewan

• Southern Saskatchewan is entirely covered by the pervasive and thick Western Canadian Sedimentary Basin ("WCSB");
• The WCSB directly overlies the crystalline Pre-Cambrian basement;
• This basement is the perceived source for naturally occurring hydrogen, especially where the basement rock has an ultramafic composition;
• There are a series of deep structures, including faults, allowing movement of gasses from the basement upwards into the WCSB. In addition to structures, a series of domes and arches add to the structural complexity of the WCSB;
• Natural Hydrogen migrates upward into certain geological formations where it can accumulate.
  

Natural Hydrogen Video

Learn more about Natural Hydrogen by clicking on the following link:

https://vimeo.com/953002092/d6f8574ba4

MAX Power Natural Hydrogen Deck

Learn more about MAX Power's first mover advantage in North America's Natural Hydrogen sector by clicking on the following link:

https://www.maxpowermining.com/Presentations/MAXPower-NaturalHydrogen.pdf

MAX Power Corporate Presentation

Click on the following link to view MAX Power's Corporate Deck:

https://maxpowermining.com/Presentations/MAXPower-Corporate.pdf

Qualified Person

The technical information in this news release has been reviewed and approved by Thomas Clarke, P.Geo., Pr.Sci.Nat., and Director for MAX Power Mining Corp. Mr. Clarke is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

About MAX Power Mining

MAX Power is an innovative mineral exploration company focused on North America's shift to decarbonization. MAX Power is a first mover in the rapidly growing Natural Hydrogen sector, through strategic alliances with Calgary-based Chapman Hydrogen & Petroleum Engineering Ltd., and European-based Larin Engineering HHC. MAX Power also holds a portfolio of properties in the United States and Canada focused on critical minerals. These properties are highlighted by a recent diamond drilling discovery at the Willcox Playa Lithium Project in southeast Arizona.

On behalf of the Board of Directors,

Forward-Looking Statement Cautions

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, and any legislation specifically relating to natural hydrogen, exploration and acquisition of natural hydrogen properties; ability to locate, discover and/or extract natural hydrogen from the subsurface; commentary as it relates to the opportune timing to carry out natural hydrogen exploration; and any anticipated increasing demand for natural hydrogen; any results and updates thereto as it relates to any future drill program, and the funding of that program; and upcoming press releases by the Company. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts. They are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the CSE, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of drill program results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out its exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96f8812c-bb16-4772-8386-7b8a99800790