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    News Release

    Max Resource Assays 3.3% Copper Over 15 Metres at the CONEJO Zone, CESAR North, NE Colombia

    Vancouver B.C., October 19, 2021 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is pleased to report new assay results from a reconnaissance sampling program have further expanded the CONEJO zone, along the CESAR North 90-km-long belt, Max’s wholly-owned CESAR project in NE Colombia (refer to Figure 1). 

    Highlights

    The new results are significant as they extend the high-grade CONEJO zone further south with reconnaissance rock sample values up to 3.3% copper and 54 g/t silver. The CONEJO zone which lies along the mid portion of the 90-kilometre-long CESAR North copper-silver belt, now spans 3.2-km by 1.9-km and still remains open in all directions.

    To date, 44 rock samples returned values over 3.0% copper, 55 returned over 2.0% copper, 21 returned over 30 g/t silver, with intervals ranging from 0.3 to 20.0m. Highlight rock sample values were 12.5% copper and 120 g/t silver (refer to Figure 2).

    The CONEJO mineralization occurs both as a stockwork of crosscutting 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 Figures 3 and 4).

    “The CONEJO continues to develop to the point where Max is considering it as a significant stand-alone copper project,” commented Max CEO, Brett Matich.

    "We look forward to assay results from the CONEJO high-grade zone, expected shortly. Concurrently, the Max technical team has commenced a targeted exploration program over the 48-km² URU zone, as well as prospect the favourable horizons further into the CESAR basin," he continued. 

    “The price of copper continues to rise, reaching an all-time high of $4.79 per pound this week, driven by the insatiable demands of the green revolution and the ever-depleting copper reserve base. Max shareholders are well positioned to take advantage, with significant potential for district scale discoveries throughout the CESAR basin,” he concluded. 

    Figure 1. CESAR North - CONEJO location

    Figure 2. CONEJO 3.2-km by 1.9-km copper-silver zone

    Figure 3. 2.8% copper and 13 g/t silver widths of 20.0m (876823)

    Figure 4. Sample rock mineralization (876823)

    Visible mineralization reports the presence of chalcocite, native copper and copper oxides. Two types of mineral events have been observed:one type is hosted in a stockwork within igneous host rock and is associated with the presence of epidote, and the second type is sediment-hosted stratiform copper silver mineralization of Kupferschiefer. The stratiform type is cross cut by the mineralized stockwork associated with igneous rocks (refer to Figure 4).

    Max interprets the sediment-hosted stratabound copper-silver mineralization in the Cesar basin to be analogous to both the Central African Copper Belt (CACB) in the south and the Polish Kupferschiefer in the north.  Almost 50% of the copper known to exist in sediment-hosted deposits is contained in the CACB, including Ivanhoe Mines Ltd (TSX: IVN) 95-billion-pound Kamoa-Kakula copper deposit in the Congo.  

    Kupferschiefer, the world’s largest silver producer and Europe’s largest copper source, is a mining orebody ranging from 0.5 to 5.5m thick, at depths of 500m, with grades of 1.49% copper and 48.6 g/t silver. The silver yield is almost twice the production of the world’s second largest silver mine.  

    Source: Central African Belt Descriptive models, grade-tonnage relations, and databases for the assessment of sediment-hosted copper deposits with emphasis on deposits in the Central Africa Copperbelt, Democratic Republic of the Congo and Zambia by USGS 2010. Kamoa-Kakula by OreWin March 2020. World Silver Survey 2020 and Kupferschiefer Deposits & Prospects in SW Poland, September 27, 2019. Max cautions investors that the presence of copper mineralization of the Central African Copper Belt and the Polish Kupferschiefer are not necessarily indicative of similar mineralization at CESAR.                        

    Copper

    Silver

    Width

    Sample #

    3.4%

    54 g/t

    1.5m – Chip Channel

    878757

    3.3%

    5 g/t

    15.0m - Representative

    876847

    2.8%

    13 g/t

    20.0m - Representative

    876823

    1.1%

    1 g/t

    15.0m - Representative

    876843

    Table 1. Rock assay results that returned over 1.0% copper and silver. Max cautions investors that panel and representative grab sampling can be selective and are not necessarily representative of the mineralization.

    QUALITY ASSURANCE

    All CESAR rock chip samples are shipped to ALS Lab's sample preparation facility in Medellin, Columbia. Sample pulps are then sent to Lima, Peru, for analysis. All samples are analyzed using ALS procedure ME-MS41, a four-acid digestion with inductively coupled plasma finished. Over-limit copper and silver are determined by ALS procedure OG-62, a four-acid digestion with an atomic absorption spectroscopy finish. ALS Labs is independent from Max.

    Max uses standard chip and channel sampling where possible, but also relies on composite grab sampling. Max considers composite grab samples to be representative but cautions investors that individual grab samples can be selective and may not be representative of continuous mineralization 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.

    CESAR COPPER-SILVER PROJECT IN COLOMBIA – OVERVIEW

    CESAR lies along the copper-silver rich 200-kilometre-long Cesar Basin in northeastern Colombia. This region enjoys major infrastructure resulting from oil & gas and mining operations, including Cerrejon, the largest coal mine in Latin America, now held by global miner Glencore (refer to Figure 4).

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

    ABOUT MAX RESOURCE CORP.

    Max Resource Corp. is a copper and precious metals exploration company, engaged in advancing both the newly discovered district-scale CESAR copper-silver project (100% owned) in Colombia and the newly acquired RT Gold project (100% earn-in) in Peru. Both projects have potential for the discovery of large-scale mineral deposits; both stratabound-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/

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

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

    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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