News Release

Max Resource Executes Option to Acquire 100% of the RT Gold Property in Peru

Vancouver B.C., September 29, 2020 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is pleased to report, in addition to its growing land position in Colombia, where the Company has established a first mover advantage at its “Kupferschiefer Style” CESAR copper-silver project, it has successfully executed an Option Agreement (“Agreement”) to acquire 100% interest in the RT Gold Property (“RT Gold”), consisting of two contiguous mineral concessions located 760-kilometres NW of Lima in the District of Tabaconas, Peru (refer to Figure 1). Maintaining the option will require yearly payments of US $300 thousand over four years and exercise of the option will require an additional US $3 million payment on or before the fifth anniversary.

RT Gold sits along the Condor mountain chain of northern Peru, within the Cajamarca Metallogenic belt. This geological belt is extending from Central Peru into Southern Ecuador, and hosts a number of world class gold deposits.

Two distinct mineralized systems occur within RT Gold: the Cerro, a bulk tonnage gold-bearing porphyry zone, and 3-kilometres to the NW, the Tablon, a gold-bearing massive sulfide zone.

The Cerro System hosts several known mineralized zones, including Peak, West, Breccia and Cathedral, consisting of:

• Soil geochemistry of the Cerro Zone has outlined a 2.0-km by 1.5-km gold anomaly, open in all directions grading from 0.1 to 4 g/t gold (refer to Figure 2);
• Soil geochemistry is coincident with IP chargeability;
• Within gold soil anomaly several veins and structures returned assays up to 62.9 g/t and the wall rock 0.5 to 1 g/t gold;
• The Cerro zone has never been drill tested.

The Tablon Zone is located 3-kilometres NW from Cerro and hosts numerous gold-bearing massive to semi-massive sulphide bodies over a 150-metre by 450-metre area, within a larger 1.0-kilometre by 1.5-kilometre area of anomalous gold soil and rock geochemistry (refer Figure 3). Highlight intersections from the 33 Tablon diamond drill holes completed in 2001 include:

• RT-06 returned 3.1 g/t gold over 21.4m from 9.1m;
• RT-11 returned 5.3 g/t gold over 17.1m from 12.0m;
• RT-13 returned 8.8 g/t gold over 25.4m from 13.4m;
• RT-22 returned 4.9 g/t gold over 14.1m from 40.8m;
• RT-25 returned 13.0 g/t gold over 36.1m from 33.0m;
• RT-29 returned 18.0 g/t gold over 16.4m from 35.0m.

Intervals are core lengths not true widths, which are unknown at this time. Source: NI43:101 Geological Report Rio Tabaconas Gold Project for Golden Alliance Resources Corp. by George Sivertz, October 3, 2011.

The last field exploration on both the Cerro and Tablon zones was conducted over a decade ago. The Max technical team is currently reviewing and digitizing all available data for subsequent interpretation for target generation. A program of field verification by Max’s in-country team: mapping, surveying and sampling is scheduled to follow. Concurrent with the verification program, the Company will be initiating drill permitting.

“Max now has gold exposure in addition to copper and silver within Latin America. RT Gold represents a significant achievement for the Company, with exploration targets carrying significant widespread gold grades across two distinct mineralization styles within a prolific South American gold belt,” said Max CEO, Brett Matich.

“The Max senior management, along with its key financiers, want to assure their shareholders the Company remains fully committed to the CESAR copper-silver project. In fact, we are focusing on expanding our land position within this key copper-silver basin and our Colombian field team continues our aggressive exploration program. We are also expecting assay results from AM South followed by AM North shortly,” he continued.

Figure 1. RT Gold Project location.

Figure 2. Cerro Zone.

Figure 3. Tablon Zone.

CESAR Copper-Silver Project Overview

The wholly-owned CESAR project in north east Colombia lies along a 120-kilometre sediment-hosted copper-silver belt, that resembles the Kupferschiefer in Poland. The CESAR region enjoys major infrastructure. Mining operations include Cerrejon, the largest coal mine in Latin America, jointly owned by global miners BHP Billiton, XStrata and Anglo American (Figure 4).

Figure 4. Location of the CESAR project

Important highlights and exploration activity on multiple fronts:

• AM North consists of a broad 11-kilometre continuous zone of stratabound copper-silver mineralization and is open in all directions. The copper-silver zone also contains a high-grade area with varying intervals grading 4.0 to 34.4% copper + 28 to 305 g/t silver (July 29, 2020). Two bulk samples extracted from each end of the 1.8-km discovery horizon, returned 9.4% copper + 79 g/t silver and 3.5 % copper + 29 g/t silver (May 21, 2020);
• The AM South zone occurs 40-km SSW of the AM North zone (refer Figure 1), within the same Kupferschiefer style mineralized trend. The AM South zone extends over an area of 4-kilometres by 3-kilometres, and remains opens laterally. The cumulative strike length of the open-ended AM South horizons exceeds 5.8-kilometres, returning highlight values of 5.8% copper and 80 g/t silver from 0.1 to 25-metre intervals, suggesting these horizons could be of significant size (July 14, 2020);
• Initial results from the Fathom Geophysics technical studies are expected soon. The study was funded by the Company and one of the world's leading copper producers. These studies are focused on mapping stratigraphic features and identifying distinct rock types and alteration-zones, which will assist in highlighting stratabound copper-silver mineral horizons over the CESAR target zone (Figure 1);
• Geochemical and mineralogical research programs by the University of Science and Technology (“AGH”) of Krakow, Poland are well underway. AGH will bring their extensive knowledge of KGHM’s world renowned Kupferschiefer sediment-hosted copper-silver deposits in Poland to the CESAR project;
• Paper titled “Redbed type stratabound copper-silver discovery, eastern part of the Cesar-Rancheria Basin, Colombia” has been accepted for presentation at the prestigious IV Geological Congress, PoznaÅ„, Poland to be presented by AGH (September 1, 2020);
• Ongoing structural analysis of the CESAR target zone is being conducted by Ingeniería Geológica Universidad Nacional de Colombia (“IGUN”) in Medellín, with the assistance of the Max field team;
• The Company has also entered into two non-exclusive confidentially agreements regarding the CESAR project: the first with one of the world’s leading copper producers, and a second with a global mining company;
• Fathom, AGH and IGUN ongoing technical studies continue
• Our in-country field team activities are confirming the continuity of the mineralized horizons and expanding the zones of AM North and AM South.

About Max Resource Corp.

With its successful exploration and management team, Max Resource Corp. is advancing its stratabound Kupferschiefer type CESAR copper-silver project in Colombia and its newly acquired RT Gold project in Peru. Both have potential for the discovery of large-scale mineral deposits attractive to major partners.

Tim Henneberry, P Geo (British Columbia), a member of the Max Resource Advisory Board, is the Qualified Person who has reviewed and approved the technical content of this news release on behalf of the Company.

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

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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