GrowMax Resources Announces Filing of Preliminary Economic Assessment

CALGARY, ALBERTA--(Marketwired - Oct 27, 2016) - GrowMax Resources Corp. (TSX VENTURE:GRO) ("GrowMax" or the "Company") is pleased to announce the filing of the Preliminary Economic Assessment ("PEA") on SEDAR for its Bayovar 7 phosphate project on its property located in the Sechura Desert, Peru.

The Technical Report was filed on SEDAR (www.sedar.com) under GrowMax's company profile and will also be available on the Company's website at www.growmaxcorp.com.

For a summary of the key aspects of the PEA, including identification of the Qualified Persons and other applicable disclosures, please refer to the Company's announcement dated September 12, 2016 entitled "GrowMax Announces Results of a Preliminary Economic Assessment for Phosphates on Bayovar 7 Concession, Peru".

About GrowMax Resources Corp.

GrowMax Resources Corp. is a publicly listed Canadian company (Ticker GRO on TSX-V) focused on exploration and development of phosphate and potassium-rich brine resources on its Bayovar concessions, which are located in the Sechura Desert in northwestern Peru. The company's vision is to become a leading producer of phosphate and potash fertilizer products in Peru.

GrowMax Resources Corp. owns approximately 92% of GrowMax Agri Corp., a private company that owns 100% of the Bayovar concessions, which currently cover approximately 227,000 gross acres. The Indian Farmers Fertiliser Co-operative Limited (IFFCO) and its affiliates own approximately 8% of GrowMax Agri Corp.

Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers should not place undue reliance on any forward-looking statements contained in this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact

GrowMax Resources Corp.
Abby Badwi, P. Geo.
Executive Chairman
+1 587 390 7015
inquiries@growmaxcorp.com
www.growmaxcorp.com