News Release

Max Resource Signs Confidentiality Agreement for its CESAR Copper-Silver Project, NE Colombia

Vancouver B.C., July 21, 2020 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) reports it has entered into a non-exclusive confidentiality agreement with a Global Miner, with respect to the Company’s wholly-owned CESAR sediment-hosted copper-silver project, located 420-kilometres north of Bogota, Colombia.

Max is also pleased to provide an update of its extensive CESAR exploration activity, currently operating on a number of fronts, with plans to continue throughout the year:

• Assay results from the March / April field program at AM North are due very soon; results were delayed at the ALS Laboratory Peru due to COVID 19; to avoid future delays sample split from the original pulp stored at ALS Medellin Colombia, was sent to ALS Vancouver for analysis;
• The in-country exploration team has now re-commenced field activities;
• The Fathom Geophysics initial results from the technical study are expected soon; the study was funded by the Company and one of the world's leading copper producers. These studies are focusing 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 40-km long target zone (refer to Figure 1);
• Geochemical and metallurgical research programs initiated with the University of Science and Technology (“AGH”) of Krakow, Poland are well underway. AGH will leverage their extensive knowledge of KGHM’s world renowned Kupferschiefer sediment-hosted copper-silver deposits in Poland to the CESAR project;
• Ongoing structural analysis of the CESAR 40-km long target zone is being conducted by Ingeniería Geológica Universidad Nacional de Colombia (“IGUN”) in Medellín, with the assistance of the Max field team. IGUN has recently acquired historic seismic data of the CESAR region, which will greatly assist this on-going study.

The Max technical team continues to build its geological model based on KGHM’s Kupferschiefer, Europe’s largest copper mine, with production in 2018 of 30 million tonnes grading 1.49% copper and 48.6 g/t silver from a mineralized zone of 0.5 to 5.5-metre thickness. The Kupferschier deposit is also the world’s leading silver producer, yielding 40 million ounces in 2019, almost twice the production of the world’s second largest silver mine (World Silver Survey 2020). Max cautions investors, use of the Kupferschiefer as a geological model is not necessary indicative of mineralization at CESAR.

“Exploration activities on multiple fronts continue to meet with success as we move closer to demonstrating the significant potential of the CESAR project,” said Max CEO, Brett Matich.

“Our exploration strategy from the outset was to attract a major partner with the financial and technical capabilities to fully explore and develop CESAR on a district scale. To have major interest at this early stage reflects the technical merit of the CESAR copper-silver project,” he continued.

Figure 1. CESAR - AM North, AM South and the CESAR 40km Target Zone.

https://www.maxresource.com/news/20200721-figure01.jpg

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 (refer to Figure 1).

Important highlights for the CESAR Project:

• AM North consists of a broad 11-kilometre continuous zone of copper-silver mineralization. At the northern end, the open-ended “Herradura Zone” returned values of 24.8% copper + 230 g/t silver from a continuous 4-metre by 1-metre outcrop and 10.4% copper + 88 g/t silver from a continuous 1-metre outcrop. Bulk samples 1.8-kilometres apart returned 10.4% copper + 88g/t silver and 3.5% copper + 29 g/t silver. The newly discovered “Ventana Zone”,11-kilometres to the south, returned highlight outcrop values of 2.70% copper + 4 g/t silver over 2-metres;

• The AM South zone occurs 40-km SSW of the AM North zone, 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.

Our in-country field team is now mapping, sampling and 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 copper-silver project in Colombia, that has 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.

Please review the updated Max Resource Corp power point presentation:

https://www.maxresource.com/MAX_Investor_Presentation.pdf

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

For additional information contact:

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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