Max Resource Corp. reported that it has secured twelve additional applications for mining concessions covering over 132 square kilometres. The Companies wholly owned Cesar Copper Project in northeastern Colombia now spans over 120-km (previously 90-km) along strike in NNE/SSW direction.

In addition, Max has acquired the underlying royalties associated with 19 mining concessions and 31 mining concession applications of the Cesar Project. In addition, the 12 new mining concession applications significantly expand the footprint by 15%. The 10,000-line-km airborne magnetic and radiometric survey is nearing completion as the Company continues to unlock the value of the Cesar basin.

Max has executed a Share Exchange Agreement pursuant to acquiring all the issued and outstanding shares of Bay Street Mineral Corp. ("Bay Street") an arms length Canadian Corporation in exchange for 14,000,000 common shares ("Shares") in the capital of Max. In determining the purchase price for the Royalty purchase, Max obtained an independent valuation report.

Bay Street holds an underlying 3% net smelter royalty ("Royalty") to December 31, 2021, over 19 mining concessions covering 184-km2 and 31 mining concession applications covering 796-km2 of the Company's wholly owned Cesar Copper Silver Project. Midway south, the Conejo District is the most recent to be recognized and is characterized by structurally controlled mineralization hosted in intermediate and felsic volcanic rocks. Numerous mineralized outcrops have been discovered over 3.7-km at the primary target in the district with surface samples averaging 4.9% copper (2% cut-off).

No drilling has been conducted at Conejo, but it has emerged as an area of focus for the Company. Mineralization within the URU District is hosted in intermediate volcanic rocks and is structurally controlled, similar to deposits in the Central African Copper Belt. At URU-C, a 9.0m of 7.0% copper and 115 g/t silver surface discovery was confirmed at depth by drill hole URU-12, which intersected 10.6m of 3.4% copper and 48 g/t silver.

At the URU-CE target, 750m to the east, 19.0m of 1.3% copper discovered in outcrop was confirmed by drill hole URU-9, which intersected a broad zone of copper oxide returning 33.0m of 0.3% copper from 4.0m, including 16.5m of 0.5% copper (Max News Release date January 24, 2023). (Note: all drill intersections are down holes widths, not true width, which remains unknown at this time). CESAR Target Evaluation.

Max has identified and is evaluating 22 targets along the Cesar 90-km-long belt for potential drill testing. The Company is focused on expanding, refining, and prioritizing these targets in preparation for a drill program. Initial efforts have been concentrated on those targets with the greatest size potential with work that includes the following field activities: Systematic chip and channel sampling of the mineralized outcrops.

Detailed geological and structural mapping of each showing. Target scale prospecting and soil sampling. Airborne Magnetic/Radiometric Surveys.