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    MAX   CA57772U3073

MAX RESOURCE CORP.

(MAX)
Delayed Bourse de Toronto  -  09:30 2022-08-12 am EDT
0.3700 CAD   +2.78%
08/09Max Resource Reports Initial IP Drill Targets, Cesar Project in NE Colombia
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08/09MAX RESOURCE : Reports Initial IP Drill Targets, CESAR Project in NE Colombia
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07/18MAX RESOURCE CORP.(TSXV : MAX) added to S&P/TSX Venture Composite Index
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Max Resource is Awarded Eleven Additional Mining Concession Contracts to Now Cover 99-km(2) for URU, CESAR Project in NE Colombia

06/28/2022 | 10:34am EDT

Vancouver - MAX RESOURCE CORP. (TSXV: MAX) (OTC Pink: MXROF) (FSE: M1D2) ('Max' or the 'Company') is pleased to report it has been awarded eleven additional Mining Concession Contracts ('Concessions') for the 20-kilometre-long URU zone, located along the southern portion of the CESAR North 90-kilometre-long copper-silver belt, within its wholly-owned CESAR project, Northeastern Colombia.

The Concessions at URU now cover 99-km-2 and Max's CESAR project Concessions now collectively total an aggregate of over 212-km-2.

Each Concession has an initial term of 30-years and extension for a further 30-years for a total duration of 60-years.

'The 212-km-2 of Mining Concession Contracts are wholly-owned and provide secure tenure for development of Max's CESAR project for the years ahead. This achievement will add additional targets for Max's first drill program at URU, the most significant event in the Cesar basin since the discovery of Cerrejon, the largest coal mine in South America and the basis for much of the critical infrastructure in the Cesar basin,' commented Max CEO, Brett Matich.

'Max Resource's Environmental Survey has been accepted by the National Mining Agency of Colombia and approval to drill is expected in the coming weeks. Max is currently conducting field work and ground geophysical surveys to expand the URU drilling target area. Max's exploration focus aligns directly with Colombia's National Mining Agency strategy of transitioning from fossil fuels to copper exploration and future development of the Cesar basin. Furthermore, Max is fully funded with over $21 million in the treasury,' he concluded.

Cesar Copper Silver Project

CESAR lies along the copper-silver rich 200-kilometre-long Cesar Basin in Northeastern Colombia. This region provides access to major infrastructure resulting from oil & gas and mining operations, including Cerrejon, the largest coal mine in South America, held by global miner Glencore. Max's mining concessions collectively expanse over 212-km-2.

Max is proactive in the goal of moving the Cesar basin towards the mining of copper, the key metal for the Colombia's transition to clean energy.

Recently a co-operation agreement was executed with Endeavour Silver Corp., which assists Max to significantly expand its 100% owned landholdings at CESAR, Endeavour will hold underlying 0.5% NSR.

Max is focusing on three major copper-silver zones individually located along the CESAR 90-kilometre-long belt, with the objective of expanding the zones and defining drill targets: The 32-km long AM zone with highlight values of 34.4% copper and 305 g/t silver

Conejo zone, averages 4.9% copper (2% cut-off) over 3.7-km

20-km long URU zone returned 7.0m @ 8.5% copper + 143 g/t silver and 16.8m @ 8.3% copper + 146 g/t silver

Geologically, Max interprets the sediment-hosted stratiform copper-silver mineralization in the Cesar basin to be analogous to both the Central African Copper Belt (CACB) to the south and the Kupferschiefer deposits in Poland to 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 discovery 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, grading 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.

About Max Resource Corp.

Max Resource Corp. (TSXV: MAX) is a mineral exploration company advancing the newly discovered district-scale Cesar copper-silver project. The wholly owned Cesar project sits along the Colombian portion of the world's largest producing copper belt (Andean belt), with world class infrastructure and the presence of global majors (Glencore and Chevron).

In addition, Max controls the RT Gold project (100% earn-in) in Peru, encompassing a bulk tonnage primary gold porphyry zone, and 3-km to the NW, a gold bearing massive sulphide zone. Historic drilling in 2001, returned values ranging 3.1 to 118.1 g/t gold over core lengths ranging from 2.2 to 36.0-metres.

Contact:

Tim McNulty

Tel: (604) 290-8100

Email: info@maxresource.com

The Venture 50 ranking is provided by TSX Venture Exchange Inc. ('TSXV') for information purposes only. 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'

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.

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MAX RESOURCE CORP. 2.78% 0.37 Delayed Quote.46.94%
MAX'S GROUP, INC. 5.66% 5.6 End-of-day quote.-13.58%
TURQUOISE HILL RESOURCES LTD. 2.29% 33.54 Delayed Quote.57.69%
All news about MAX RESOURCE CORP.
08/09Max Resource Reports Initial IP Drill Targets, Cesar Project in NE Colombia
CI
08/09MAX RESOURCE : Reports Initial IP Drill Targets, CESAR Project in NE Colombia
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07/18MAX RESOURCE CORP.(TSXV : MAX) added to S&P/TSX Venture Composite Index
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06/28Max Resource is Awarded Eleven Additional Mining Concession Contracts to Now Cover 99-k..
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06/27Max Resource Corp. Wins Eleven Additional Mining Concession Contracts
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06/27Max Resource Up 22.5% after Reporting Award of 11 Additional Mining Concession Contract..
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06/27MAX RESOURCE : is Awarded Eleven Additional Mining Concession Contracts to Now Cover 99-km..
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06/13Max Resource Extends the URU High-Grade Discovery 750 Metres to the East
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06/13MAX RESOURCE : Extends the URU High-Grade Discovery 750 Metres to the East
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06/13Max Resource Discovers Copper-Silver Outcrop near URU Discovery in Colombia
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Financials
Sales 2021 - - -
Net income 2021 -5,08 M -3,98 M -3,98 M
Net cash 2021 0,79 M 0,62 M 0,62 M
P/E ratio 2021 -4,51x
Yield 2021 -
Capitalization 58,3 M 45,7 M 45,7 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 93,2%
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Managers and Directors
Brett Robert Matich President, Chief Executive Officer & Director
Alexander B. Helmel Chief Financial Officer
Paul V. P. John Independent Director
Tim McNulty Head-Corporate Communications
Kelly Pladson Secretary
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