Max Reports High-Grade Channel Results at Its Sierra Azul Project District-Scale Manto-Style Copper Silver System

14:00 Uhr  |  Newsfile

Vancouver, April 28, 2026 - Max Resource Corp. (TSXV: MAX) (OTC Pink: MXROF) (FSE: M1D) ("Max" or the "Company") is pleased to report high-grade chip channel ("Channel") results over intervals from 16 to 59 metres from a systematic field campaign have significantly expanded the Manto-style mineralized footprint to over 8 km² within the AM District, situated on the Andean Belt on the northern portion of the Company's wholly owned Sierra Azul Project in northeastern Colombia (refer to Figures 1 to 4, Table 1 and Appendix 1). Highlights:

• 1.6% copper & 7 g/t silver over 59.0m, AM13(1) continuous saw-cut channel

• 1.6% copper & 6 g/t silver over 50.0m, AM13(2) continuous chip channel

• 1.4% copper & 8 g/t silver over 19.0m, AM15(3) continuous chip channel

• 1.3% copper & 6 g/t silver over 20.7m, AM16(4) continuous chip channel

• 1.2% copper & 6 g/t silver over 31.0m, AM13(5) continuous chip channel

• 1.0% copper & 5 g/t silver over 16.0m, AM16(6) continuous chip channel

• 1.0% copper & 3 g/t silver over 16.0m, AM15(7) continuous chip channel

The Manto-style copper silver mineralization footprint (includes AM13, AM15 and newly the discovered AM16) now spans over 4,000m x 2,000m, reinforcing the potential of a large-scale Manto-style system. Strata-bound mineralization is found in structurally prepared and porous horizons within a thick sequence of volcanic rocks of Jurassic age. Regionally, the volcanic sequence strikes between 40° and 50°, dips between 60° and 80° NW.

The field teams are on the ground, systematically working to expand the Manto footprint and building towards drill target definition. Detailed soil and stream sediment sampling programs are also underway designed to determine the continuation of the known mineralized lenses under soil cover as well as identify new mineralized occurrences.

The Manto-style mineralization appears to be broadly analogous to the El Soldado Mine in central Chile (P&P 17.8 Mt @ 0.70% copper, M&I 193.8 Mt @ 0.56% copper*). El Soldado is a Manto-type copper deposit situated on the Andean Belt (world's largest producing copper belt) in central Chile. The mine comprises a cluster of orebodies that occur within an area of 2,000m x 800m and extend 600m vertically. The orebodies are irregular in shape and size, showing a primary mineralization sequence that includes an outer pyrite-rich halo, followed inwards by chalcopyritic zones and a bornite-chalcocite core.

*Source: https://www.angloamerican.com/~/media/Files/A/Anglo-American-Group-v9/PLC/investors/annual-reporting/2025/anglo-american-ore-reserves-and-mineral-resources-report-2025.pdf ; https://minedocs.com/20/Chilean_Geological_Congress_EL_Soldado_Copper_Deposit_2009.pdf#page=1). Max cautions investors mineralization a El Soldado is not necessarily indicative of similar mineralization at Sierra Azul.

"This is a significant achievement by the Max team working with Freeport-McMoRan Exploration Corporation (Freeport) as we continue to unlock the potential of Sierra Azul. Freeport continues to contribute to the $50 million earn-in enforcing the belief Sierra Azul hosts one of the worlds largest underexplored sedimentary and volcanic copper systems," commented Max CEO, Brett Matich.

"The significance of the discovery and subsequent evaluation of the Manto-style mineralization at Sierra Azul cannot be overstated. These high-grade bodies are in close proximity to each other and could be exploited from a central facility. Importantly, the Manto-type lenses identified to date have the potential for considerable tonnage," stated Bruce Counts, Head of Exploration for Sierra Azul.

Figure 1: AM District: 8 km² Manto-style copper silver footprint reinforcing potential of a large-scale system.

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Figure 2: Sierra Azul is adjacent to major mining infrastructure, comprising of three districts: AM, CON and URU, collectively the three districts spread over 100 km in NNE/SSW direction.

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AM District: Manto-Style Copper Silver Mineralization

The AM District hosts two types of strata-bound copper systems, the sediment-hosted and the Manto-type. The sedimentary sequence is composed of fine to very fine reddish to greenish sandstones interbedding with siltstones, in this context organic matter is the reducing agent causing the precipitation of copper. The Manto-type systems are hosted by volcanic rocks, andesite and dacite. The volcanic rocks show chlorite, epidote, and prehnite alteration with bitumen acting as the reducing agent for copper enrichment. The ore forming minerals of the Manto-type systems include bornite, chalcocite and lesser amounts of chalcopyrite.

Figure 3: Mineralized andesite showing epidote-altered lense with native copper.

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AM13 - the mineralization is hosted in an andesitic tuff (a type of volcanic rock) that strikes 50⁰, dips 70⁰ northwest and has been structurally prepared by faulting. The first mineralized outcrops were discovered in the Cedro valley and subsequent continuous saw-cut channel sampling returned 1.8% copper & 7.2 g/t silver over 48.0m

AM15 - located approximately 1,300m to the northwest of AM13 mineralization is found filling fractures and vesicles of an andesitic tuff. Ore forming minerals include chalcocite, malachite and azurite.

AM16 - located approximately 1,800m to the west of AM13. Mineralization is found in veinlets and filling cavities within andesite, agglomerate and breccias. The mineralized rocks show hydrothermal overprinting and a chalcocite rich matrix. Epidote lenses with high native copper content are present in joints that are parallel to and cross-cut the bedding. Ore forming minerals include malachite, chalcocite and native copper.

Figure 4: Cross section of AM16 and mineralization showing 1) andesite with high bitumen content 2) auto breccification of amygdular purple andesite and agglomerate.

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All the targets cluster within a 2-kilometre radius (AM13, AM15 and AM16) and have similar host rocks and ore forming minerals. Stream sediment and soil sampling indicates that additional targets may be present in the area and geological mapping teams have been deployed to follow-up on these results. Exploration teams are also working to understand the factors controlling mineralization and the potential for vertical extent at each of the targets.

Table 1: Highlight channels combined with previous results. Refer to Appendix 1 for complete sample intervals.

Quality Assurance

Max adheres to a strict QA/QC program for sample handling, sampling, sample transportation and analyses. All 21 rock samples were taken by the Max consulting geologist, labelled, placed in sealed, securitized bags and shipped to ALS Lab's sample preparation facility in Medellin, Columbia. ALS Medellin is an ISO 9001: 2008 certified facility and is independent of Max. All samples were analyzed using ALS procedure ME-ICP61, a four-acid digestion with inductively coupled plasma finished. Over-limit gold is determined by ALS procedure Au-GRA21 a 30-gram fire assay with a gravimetric finish. Over-limit silver, lead, arsenic and zinc were determined by ALS procedure OG-62, a four-acid digestion with an atomic absorption spectroscopy finish. At this early stage of exploration, Max relied on the QA/QC protocols employed by ALS.

Qualified Person

The Company's disclosure of a technical or scientific nature in this news release was reviewed and approved by Tim Henneberry, P.Geo (British Columbia), a member of the Max Resource advisory board, who serves as a qualified person under the definition of National Instrument 43-101.

About Max Resource Corp.

Max Resource is a mineral exploration company focused on copper and precious metals assets in Colombia (Mora Gold Silver Property and the fully funded Sierra Azul Copper Silver Project) and exploration development of the fully funded Florália High Purity Iron Project in Brazil.

Sierra Azul Copper Silver in Colombia, sits along the Colombian portion of the world's largest producing copper belt (Andean belt), with world-class infrastructure and the presence of global majors (Glencore and Chevron). Fully funded by global miner Freeport-McMoRan (NYSE: FCX) relating to rights to earn up to 80% by funding $50 million of accumulated expenditures. Backed by support of Freeport-McMoRan, the Max team views as validation of the geological and mining potential of Sierra Azul. The 2026 exploration season is well underway.

Mora Gold Silver in Brazil (right to purchase 100%) lies along the most productive Middle Cauca Gold Belt encompasses over 40 historic workings, 5 active mines, a series of exposed polymetallic structures spread over 2,500m by 1,000m. Mora's 8.2 km border is surrounded by Collective Mining's (TSX, NYSE: CNL) Guayabales Gold Project and Aris Mining's (TSX: ARIS, NYSE: ARMN) Marmato mining operations. P&P Reserve: 31.3Mt @ 3.2g/t Au, M&I Resource: 61.5Mt @ 3.0g/t Au for 9.2Moz¹.

Max cautions investors that the gold mineralization at the Marmato gold deposit may not necessarily be indicative of similar mineralization at the Mora Property. Max further advises the QP has been unable to verify the information on Marmato and that the information is not necessarily indicative to the mineralization on the Mora Property. Source: https://aris-mining.com/operation/reserves-and-resources/

Florália High Purity Iron lies adjacent to the largest iron ore mines in Minas Gerais, Brazil's largest iron ore and steel producing State. Exploration Target of 50-70Mt at 55%-61% Fe. Fully funded through an LOI option to purchase by Bolt Metals Corp. (CSE: BOLT) issuing an aggregate of 32.3m shares. The transaction is subject to satisfactory applicable regulatory approvals. Since the execution of the LOI, BOLT has received aggregate gross proceeds of $9,600,000 from private placements.

Max cautions investors the potential quantity and grade of the iron ore is conceptual in nature, and further cautions there has been insufficient exploration to define a mineral resource and Max is uncertain if further exploration will result in the exploration target being delineated as a mineral resource. Hematite mineralization tonnage potential estimation is based on in situ high-grade outcrops, interpreted and modelled magnetic anomalies. Density value used for the estimate is 3.0t/m³. Hematite sample grades range between 55-61% Fe. The 58 channel samples were collected for chemical analysis from in situ outcrops in previously mined slopes of industrial materials.

Appendix 1: Complete sample intervals (R = Repeat)

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law.

Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release will come into effect on the terms or time frame described herein.

The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.ca.

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