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    News Release

    Max Resource Significantly Expands the CONEJO Copper-Silver Zone at CESAR North, Colombia

    Vancouver B.C., May 11, 2021 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is pleased to report new assay results increasing the area of the CONEJO Zone by 500% at CESAR North, within the wholly-owned CESAR copper-silver project in North Eastern Colombia (refer to Figure 2).

    The latest set of assays expands the CONEJO copper-silver zone to an area covering 3.2-km by 1.6-km. The CONEJO zone still remains open in all directions, lying along the mid portion of the 80-kilometre-long CESAR North copper-silver belt. CONEJO assay results include:

    The CONEJO mineralization occurs both as a stockwork of cross cutting fractures and as disseminated mineralization hosted in igneous rock. Observed minerals include: chalcocite, native copper, cuprite and copper oxides. Epidote is commonly associated with the copper mineralization (refer to Figure 1).

    “Newly discovered in March of this year, and although early stage, CONEJO appears to have scalable potential. Systematic mapping is now underway to determine both the density and orientation of the mineralized structures,” commented Max CEO, Brett Matich.

    “Over the last 18 months, Max has significantly extended CESAR North, consisting of five discoveries spanning over 80-km of strike, demonstrating a district-scale sediment-hosted copper-silver system,” he continued.

    “In addition, the Max team are eagerly awaiting assay results from another new discovery, the URU zone located 30-km south, which seems to be very similar mineralization to CONEJO,” he concluded.

    Figure 1. The CONEJO copper-silver mineralization. 

    Figure 2. CONEJO zone location

    Figure 3. CONEJO sample locations and geochemistry

    CONEJO Results 0.8% Copper and Above

    Number

    Type

    Interval (m)

    Copper (%)

    Silver (g/t)

    878469

    rock panel

    1.0 x 1.0

    3.0

    22.6

    878496

    rock panel

    1.0 x 1.0

    3.0

    44.8

    878460

    rock panel

    1.0 x 1.0

    2.3

    13.2

    878461

    rock panel

    1.0 x 1.0

    2.1

    5.7

    878465

    rock panel

    1.0 x 1.0

    1.9

    3.4

    878459

    rock panel

    1.0 x 1.0

    1.6

    8.9

    878470

    rock panel

    1.0 x 1.0

    1.4

    1.6

    878495

    rock panel

    1.0 x 1.0

    1.4

    7.3

    878491

    chip channel

    0.5

    1.3

    14.6

    878494

    rock panel

    1.0 x 1.0

    1.2

    9.4

    878458

    rock panel

    1.0 x 1.0

    0.9

    2.6

    878653

    representative

    25.0

    0.8

    4.1

    878464

    rock panel

    1.0 x 1.0

    0.8

    8.0

    CONEJO Discovery Results 2% Copper and Above

    878335

    rock panel

    5.0 x 5.0

    12.5

    83.5

    878389

    rock panel

    1.0 x 1.0

    10.7

    51.6

    878603

    rock panel

    3.0 x 2.0

    10.5

    50.1

    878338

    rock panel

    5.0 x 5.0

    10.4

    95.2

    878334

    rock panel

    5.0 x 5.0

    10.2

    61.9

    878363

    rock panel

    5.0 x 5.0

    10.0

    79.9

    878390

    rock panel

    1.0 x 1.0

    9.5

    120.0

    878391

    rock panel

    1.0 x 1.0

    9.0

    67.2

    878386

    rock panel

    1.0 x 1.0

    8.9

    66.3

    878336

    rock panel

    5.0 x 5.0

    8.7

    89.4

    878337

    rock panel

    5.0 x 5.0

    8.4

    60.4

    878368

    rock panel

    5.0 x 5.0

    7.9

    21.0

    878373

    rock panel 

    5.0 x 5.0

    7.7

    84.1

    878333

    rock panel 

    5.0 x 5.0

    7.4

    47.2

    878394

    rock panel 

    3.0 x 3.0

    7.3

    80.0

    878352

    rock panel 

    5 .0x 5.0

    7.0

    44.5

    878356

    rock panel 

    5.0 x 5.0

    6.0

    28.5

    878348

    rock panel 

    5.0 x 5.0

    5.8

    16.1

    878393

    rock panel 

    1.0 x 1.0

    5.5

    63.7

    878388

    rock panel 

    1.0 x 1.0

    5.5

    84.4

    878349

    rock panel 

    5.0 x 5.0

    5.3

    19.0

    878604

    rock panel 

    1.0 x 1.0

    5.0

    54.1

    878625

    rock panel 

    5.0 x 5.0

    4.9

    36.2

    878347

    rock panel 

    5.0x 5.0

    4.9

    11.1

    878362

    rock panel 

    5.0 x 5.0

    4.7

    31.6

    878351

    rock panel 

    5.0 x 5.0

    4.6

    28.8

    878620

    rock panel 

    5.0 x 5.0

    4.5

    21.0

    878614

    rock panel 

    5.0 x 5.0

    4.4

    25.8

    878387

    rock panel 

    1.0 x 1.0

    4.2

    41.3

    878381

    rock panel 

    5.0 x 5.0

    4.1

    16.3

    878353

    rock panel 

    5.0 x 5.0

    3.9

    30.6

    878617

    rock panel 

    5.0 x 5.0

    3.8

    17.6

    878602

    rock panel 

    1.0 x 0.5

    3.8

    4.6

    878619

    rock panel 

    5 .0x 5.0

    3.6

    15.2

    878359

    rock panel 

    3.0 x 3.0

    3.5

    19.4

    878364

    rock panel 

    5 .0x 5.0

    3.5

    18.5

    878358

    rock panel 

    3.0 x 3.0

    3.4

    17.3

    878427

    rock panel 

    5.0 x 5.0

    3.3

    7.6

    878360

    rock panel

    3.0 x 3.0

    3.3

    28.7

    878621

    rock panel 

    5.0 x 5.0

    3.1

    15.3

    878605

    rock panel 

    1.0 x 1.0

    2.9

    23.4

    878346

    rock panel 

    5.0 x 5.0

    2.7

    7.9

    878361

    rock panel 

    5.0 x 5.0

    2.7

    19.6

    878606

    rock panel 

    5.0 x 5.0

    2.6

    29.8

    878607

    rock panel 

    5.0 x 5.0

    2.6

    28.5

    878610

    rock panel 

    5.0 x 5.0

    2.5

    21.0

    878354

    rock panel 

    5.0 x 5.0

    2.5

    14.8

    878382

    rock panel 

    5.0 x 5.0

    2.4

    3.4

    878345

    rock panel 

    5.0 x 5.0

    2.4

    12.6

    878000

    rock panel 

    5.0 x 5.0

    2.4

    14.4

    878424

    rock panel 

    5.0 x 5.0

    2.3

    2.8

    878601

    rock panel 

    1.0 x 1.0

    2.1

    6.3

    878419

    rock panel 

    5.0 x 5.0

    2.0

    5.9

    878628

    rock panel 

    5.0 x 5.0

    2.0

    12.9

    878379

    rock panel 

    5.0 x 5.0

    2.0

    20.6

    878551

    rock panel 

    1.0 x 1.0

    2.0

    4.7

    Table 1. CONEJO assay results. Max cautions investors that rock panel and representative sampling can both be selective and are not necessarily representative of the mineralization. 

    Max interprets the sediment-hosted stratabound copper-silver mineralization of the Cesar Basin to be analogous to the Kupferschiefer Basin in Poland. The Kupferschiefer deposits, Europe’s largest copper source, produced 3MT of copper in 2018 and 40 million ounces of silver in 2019 from an orebody 0.5 to 5.5-metres thick, grading 1.49% copper and 48.6 g/t silver. This silver yield is almost twice the production of the world’s second largest silver mine.  

    Source: World Silver Survey 2020 and Kupferschiefer Deposits & Prospects in SW Poland, September 27, 2019. Max cautions investors that the presence of copper-silver mineralization at Kupferschiefer is not necessarily indicative of similar mineralization at CESAR.

    CESAR COPPER-SILVER PROJECT IN COLOMBIA - OVERVIEW

    The CESAR project, that covers a significant portion of the 200-km long Cesar Basin in North Eastern Colombia, has now been demonstrated to contain widespread highly prospective copper-silver mineralization.  

    This region enjoys major infrastructure as a result of oil & gas and mining operations, including Cerrejon, the largest coal mine in Latin America, jointly owned by global miners BHP Billiton, Xstrata and Anglo American (refer to Figure 2). 

    Due to the district-scale copper-silver prospectivity of the Cesar Basin, Max has implemented a multi-faceted exploration program for 2021:

    Advanced Drill Core Analysis and Modelling: ongoing interpretation of seismic sections and analysis of historical drill holes are all being integrated into our structural modelling of the Cesar Basin, in collaboration with Ingeniería Geológica Universidad Nacional de Colombia (“IGUN”) in Medellín (January 7, 2021 NR);

    Geochemical and Mineralogical: geochemical and mineralogy research programs by the University of Science and Technology (“AGH”) of Krakow, Poland. AGH bring their extensive knowledge of KGHM’s world renowned Kupferschiefer sediment-hosted copper-silver deposits in Poland to the CESAR project;

    Geophysics: Fathom Geophysics is interpreting regional airborne magnetic and radiometric data, funded by the Company in collaboration with one of the world's leading copper producers;

    Proprietary Field Exploration & Techniques: Max’s exploration teams continue to explore copper-silver stratabound targets at CESAR;

    QUALIFIED PERSON

    The Company’s disclosure of a technical or scientific nature in this news release has been 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 Corp. is an Energy Metals and Precious Metals exploration company, engaged in advancing both its district-scale CESAR copper-silver project in Colombia and the newly acquired RT Gold project in Peru. Both projects have potential for the discovery of large-scale mineral deposits; both sediment-hosted-type copper-silver in Colombia and high-grade gold porphyry and massive sulfide in Peru. 

    Max Resource was awarded a Top 10 Ranked Company in the Mining Sector on the TSX Venture 50™ for 2021, achieving a market cap increase of 1,992% and a share price increase of 282% in 2020.

    For more information visit: https://www.maxresource.com/

    TSX Venture 50™ for 2021 video: MAX Resource Corp. (TSXV: MXR) - 2021 TSX Venture 50 - YouTube

    For more information visit: www.tsx.com/venture50

    For additional information contact:
    Max Resource Corp.
    Tim McNulty
    E: info@maxresource.com
    T: (604) 290-8100 

    *The Venture 50 ranking is provided by TSX Venture Exchange Inc. (“TSXV”) for information purposes only.  Neither TMX Group Limited nor any of its affiliated companies guarantees the completeness of this information, and are not responsible for any errors or omissions in or any use of, or reliance on, this information. The Venture 50 program is not an invitation to purchase securities listed on TSX Venture Exchange. TSXV and its affiliates do not endorse or recommend any of the referenced securities or issuers, and this information should not be construed as providing any trading, legal, accounting, tax, investment, business, financial or other advice and should not be relied on for such purposes”

    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.sedar.com

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