News Release

Max Resource Reports 5.6% Copper and 70 g/t Silver From 13 metre by 1 metre Panel at the Newly Discovered AM-2 Horizon within the AM South Zone on its CESAR Project, NE Colombia

Vancouver B.C., July 14, 2020 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D2) is pleased to report significant assay results from the newly discovered copper-silver stratabound AM-2 horizon, within the AM South zone, at the Company’s wholly-owned CESAR project, located 420-km north of Bogota, Colombia (refer to Figures 1, 2 and 3).

New outcrops, with highlight panel values of 5.8% copper and 80 g/t silver, have now extended the Kupferschiefer type copper-silver mineralization of the AM-2 horizon over 1.1-kilometres along strike, with the horizon remaining open along strike and down dip. The AM-2 horizon is presently interpreted to be an offset and down dropped equivalent of the AM-1 horizon (July 8, 2020).

New outcrop panel and composite grab assay results include;

• 5.8% copper + 80 g/t silver over 7-metres by 1-metre (panel);
• 5.6% copper + 70 g/t silver over 13-metres by 1-metre (panel);
• 4.3% copper + 57 g/t silver over 3-metres by 3-metre (panel);
• 3.6% copper + 48 g/t silver over 7-metres by 1-metre (panel);
• 3.4% copper + 20 g/t silver over 2-metres (composite grab);
• 2.3% + 20 g/t silver over 2-metres; (composite grab);
• 2.1% copper + 8 g/t silver over 2-metres;
• 1.7% copper + 13 g/t silver over 5-metres (composite grab);
• 1.7% and 13 g/t silver over 2-metres (composite grab);
• 1.6% copper + 26 g/t silver over 2-metres (composite grab);
• 1.2% copper + 10 g/t silver over 2-metres (composite grab);

Rock panel and composite grab samples are considered to be representative, but cautions investors that individual grab samples can be selective and may not be representative of continuous mineralization.

Our in-country field team is now mapping, sampling and confirming the continuity of mineralized horizons within the 4-kilometre by 3-kilometre AM South zone. The cumulative strike length of the open-ended AM South horizons exceeds 5.8-kilometres, suggesting these horizons could be of significant size.

The AM South zone copper-silver mineralization is interpreted to be of stratabound/Kupferschiefer type hosted in fine-grained sediments. The principal minerals are chalcocite, a copper sulphide, and copper oxides malachite and azurite.

The Kupferschiefer is Europe’s largest copper mine, with 2018 production 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. It’s 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 that the use of the Kupferschiefer model does not necessarily indicate the presence of such mineralization at CESAR.

“Our field teams continue to locate stratabound copper-silver mineralization within the key horizon units as they trace these horizons along strike and down dip. We feel more and more confident the Company is on the verge of a significant mineral discovery at CESAR” stated Max CEO Brett Matich.

“Along with the continuing exploration providing on-going assay results from AM South zone, we eagerly await assay results from the 11-kilometre AM North zone, located 40-kilometres north of the AM South zone, along the targeted stratabound copper-silver mineralized trend. We also look forward to initial results from Fathom Geophysics, our strategic research partners in collaboration with both, AGH Krakow, Poland, one of the world’s leading copper producers, and the National University of Colombia,” he concluded.

Figure 1. CESAR target zone location

Figure 2. AM South Zone (4-kilometre by 3-kilometre Open)

Figure 3. Newly discovered AM-2 outcrop within the AM South Zone

Quality Assurance

All samples were shipped to the ALS Lab sample preparation facility in Medellin, Colombia. Sample pulps are sent to Vancouver, Canada for analysis. All samples are analyzed using ALS procedure ME-MS41, a four-acid digestion with ICP finish. Over limit copper and silver are determined by ALS procedure OG-62, a four-acid digestion with an AAS finish. ALS Labs is independent from Max. Max is not aware of any other factors that could materially affect the accuracy or reliability of the data referred to herein.

CESAR Sediment-Hosted Copper-Silver Project - Overview

The wholly-owned CESAR project in north east Colombia lies along a 120-km 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.

Important highlights for the CESAR Project:

• AM North discoveries lie along a broad 11-km continuous zone of copper-silver mineralization. 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 rock chip channel and 10.4% copper + 88 g/t silver from a continuous 1-metre rock chip channel. Two subsequent bulk samples 1.8-km apart returned 10.4% copper + 88g/t silver and 3.5% copper + 29 g/t silver. The newly discovered “Ventana Zone”,11-km 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 stratabound copper-silver mineralized trend. The AM South zone extends over an area of 4-km x 3-km, and remain opens laterally. The open-ended mineralized horizons extending over 5.8-km; highlight panel values include: 5.8% copper + 80 g/t silver over 7-metre by 1-metre; 5.6% copper + 70 g/t silver over 13-metre by 1-metre; 4.3% copper + 57 g/t silver over 3-metre by 3-metre; 3.6% copper + 48 g/t silver over 7-metre by 1-metre; 3.5% copper + 26 g/t silver over 10-metre by 2-metre.
• Structural analysis conducted by Ingeniería Geológica Universidad Nacional de Colombia in Medellín concluded the stratabound copper-silver mineralization at the Herradura Zone forms a continuous mineralized horizon (June 9, 2020);
• A technical study by Fathom Geophysics in collaboration with one of the world’s leading copper producers is well underway (May 13, 2020);
• Mineralogy results from the University of Science and Technology (“AGH”) research study are pending. AGH is located in Krakow, Poland has a long history of cooperation with KGHM, the largest copper producer in Europe and the world's largest silver producer (April 21, 2020);
• Additional assays are pending for both AM North and AM South; and
• Active field work has now re-commenced.

Max’s aim is to demonstrate the potential of the CESAR district as a significant copper and silver regional basin.

EBAY Palladium-Platinum Project - Summary

The EBAY palladium-platinum project, located 30-km SE of Matagami in the Abitibi Region of Quebec, Canada, is underlain by the Archean Bell River Complex, a layered mafic intrusion measuring 65-km by 15-km and 5-km thick. Max has entered into an Option Agreement pursuant to which the Company may acquire a 100% interest of EBAY (May 12, 2020).

Highlight exploration of ballast pit sampling between 2000 to 2008 returned: 4.9 g/t palladium-platinum from a 4 to 5-metre wide zone; 3 g/t palladium + 1.4 g/t platinum + 0.12 rhodium in 2005; 2.5 g/t palladium-platinum from a newly discovered 500-metre long zone in 2006. The Company cautions investors that grab samples are selected samples and are not necessarily representative of mineralization.

EBAY drilling in 2006 intersected 1.90 g/t palladium-platinum over 3-metres from 80.5 to 83.5-metres. Further drilling discovered a new zone comprising 600-metres of strike, 120-metres deep, 6.7 to 31.1-metres wide, open in all directions, with highlight values of 2.52 g/t palladium-platinum. Subsequent aero-magnetic survey extended the target zone to 4.8-km of strike (March 25, 2020).

Choco Platinum Gold Project - Summary

CHOCO gold-platinum project (250 sq.km) is located 120-km SW of Medellin Colombia, within a district with historical production of 1.5Mozs of gold and 1.0Mozs of platinum (1906-1990) by Choco Pacific Mining. Compilation of historical records revealed the potential for related PGE’s particularly palladium and rhodium. In addition, recent field work in 2019 by Max resulted in concentrate values of 114 g/t platinum and 341 g/t gold (April 16, 2019). Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia Part 3. Private Report for Condo to Platinum NL.

About Max Resource Corp.

With its successful exploration and management team, Max Resource Corp. is advancing both its copper, silver and precious metals landholdings in Colombia, and its EBAY palladium-platinum landholdings in Quebec, Canada. Each of these belts 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.

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