Max Resource Reports 3.9% Copper over 10-metre Widths and Visible Copper Mineralization Over 12-km(2) at the URU Zone, CESAR North, NE Colombia

Vancouver, August 10, 2021 - Max Resource Corp. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report new assay results, with visible copper mineralization now spanning over 12-square kilometres at the URU zone, located along the 80-kilometre-long CESAR North belt, within Max's 100% owned CESAR copper-silver project in Northeastern Colombia (refer to Figures 1 to 4).

Eight rock samples over widths ranging from 10 to 25-metres returned values of 2.0% copper and above, twenty-one returned values greater than 1.0% copper, with highlight values of 3.9% copper and 37 g/t silver (refer to Table 1).

Rock chip channel results from values of 2.0% copper:

• 3.9% copper and 7 g/t silver over widths of 10-metres;
• 3.0% copper and 6 g/t silver over widths of 10-metres;
• 3.0% copper and 37 g/t silver over widths of 10-metres;
• 2.5% copper and 12 g/t silver over widths of 10-metres;
• 2.4% copper and 12 g/t silver over widths of 10-metres;
• 2.0% copper and 9 g/t silver over widths of 10-metres.

Reported representative grab samples collected over widths of 25-metres returned 2.7% and 2.2% copper (refer to Table 1). In addition, Max is awaiting assay results located along 10-kilometres of strike (refer to the white dots on Figure 2).

"The widespread nature of the copper mineralization over significant widths demonstrates the major-scale potential of the URU zone, that is open in all directions. We look forward to additional URU zone copper assay results due late next month," commented Max CEO, Brett Matich.

"Max's in-country team is continuing its field exploration programs through to end of year," he concluded.

Figure 1. CESAR Copper-Silver Project.
https://www.maxresource.com/images/gallery/MXR_CESAR_31.jpg

To view an enhanced version of Figure 1, please visit:
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Figure 2. CESAR North, URU assays and assays pending locations.
https://www.maxresource.com/images/gallery/MXR_CESAR_32.jpg

To view an enhanced version of Figure 2, please visit:
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Figure 3. 3D model shows the major-scale potential of the URU zone and is open in all directions.
https://www.maxresource.com/images/gallery/MXR_CESAR_33.jpg

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The URU copper mineralization is hosted in a stockwork within igneous host rock that crosscuts sediment-hosted stratabound mineralization. Observed minerals include chalcocite, native copper, cuprite and copper oxide. The copper mineralization is often associated with the presence of epidote.

Max interprets the sediment-hosted stratabound copper-silver mineralization in the Cesar Basin to be analogous to both the Central African Copper Belt (CACB) and the Polish Kupferschiefer. Almost 50 percent 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 copper deposits in the Congo.

Kupferschiefer, the world's largest silver producer and Europe's largest copper source, mining an orebody of 0.5 to 5.5-metres 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.

Source: Central African Belt Descriptive models, grade-tonnage relations, and databases for the assessment of sediment-hosted copper deposits with emphasis on deposits in the Central Africa Copperbelt, Democratic Republic of the Congo and Zambia by USGS 2010. Kamoa-Kakula by OreWin March 2020. World Silver Survey 2020 and Kupferschiefer Deposits & Prospects in SW Poland, September 27, 2019. Max cautions investors that the presence of copper mineralization of the Central African Copper Belt and the Polish Kupferschiefer are not necessarily indicative of similar mineralization at CESAR.

Table 1. URU rock chip channel and representative rock grab sample results with values of 1% copper or above. Max cautions investors that grab sampling can be selective and are not necessarily representative of the mineralization.

QUALITY ASSURANCE

All samples were shipped to the ALS Lab sample preparation facility in Medellin, Colombia. Sample pulps are sent to Lima, Peru 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.

QUALIFIED PERSON

The Company's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Tim Henneberry, P Geo (British Columbia), a member of the Max Resource Advisory Board, who serves as a qualified person under the definition of National Instrument 43-101.

CESAR COPPER-SILVER PROJECT IN COLOMBIA - OVERVIEW

CESAR is located along the 200-kilometre-long Cesar Basin in NE Colombia encompassing widespread highly prospective copper-silver mineralization. This region enjoys major infrastructure resulting from oil & gas and mining operations, including Cerrejon, the largest coal mine in Latin America, now held by global miner Glencore (refer to Figure 5).

Figure 4. CESAR Project location.
https://www.maxresource.com/images/gallery/MXR_CESAR_34.jpg

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Due to the district-scale copper-silver prospectivity of the Cesar Basin, Max has implemented a multi-faceted exploration program for 2021:

Advanced Drill Core Analysis and Modelling: ongoing interpretation of seismic sections and analysis of historical drill holes are all being integrated into our structural modelling of the Cesar Basin, in collaboration with Ingeniería Geológica Universidad Nacional de Colombia ("IGUN") in Medellín (January 7, 2021 NR);

Geochemical and Mineralogical: geochemical and mineralogy research programs by the University of Science and Technology ("AGH") of Krakow, Poland. AGH bring their extensive knowledge of KGHM's world renowned Kupferschiefer sediment-hosted copper-silver deposits in Poland to the CESAR project;

Geophysical: Fathom Geophysics is interpreting seismic data, funded by the Company in collaboration with one of the world's leading copper producer;

Proprietary Field Exploration & Techniques: Max's in-country exploration teams continue to target new copper-silver stratabound mineralized zones;

• CESAR North 80-kilomtre-long-copper-silver zone:
  
  
  • In 2020, Max identified the AMS (previously named AM South) and AMN (previously named AM North) stratabound copper-silver zones, collectively spanning over 45-km², highlight values of 0.1 to 34.4% copper and 5.0 to 305.0 g/t silver over intervals ranging 0.1 to 25.0-metres;
    
    
  • In March 2021, Max's CONEJO discovery, now spans 3.2-km by 1.6-km and open in all directions. CONEJO returned values greater than 5.0% copper from 23 rock panels varying from 5.0m by 5.0m to 1.0m by 1.0m, 66 rock panel samples returned values over 1.0% copper (March 24, 2021 NR):
    • 12.5% copper + 84 g/t silver over 5.0-metre by 5.0-metre
    • 10.5% copper + 50 g/t silver over 3.0-metre by 2.0-metre
    • 10.4% copper + 95 g/t silver over 5.0-metre by 5.0-metre
    • 10.2% copper + 62 g/t silver over 5.0-metre by 5.0-metre
    • 10.0% copper + 80 g/t silver over 5.0-metre by 5.0-metre
    • 8.7% copper + 89 g/t silver over 5.0-metre by 5.0-metre
    • 8.4% copper + 60 g/t silver over 5.0-metre by 5.0-metre
    • 7.9% copper + 21 g/t silver over 5.0-metre by 5.0-metre
    • 7.7% copper + 84 g/t silver over 5.0-metre by 5.0-metre
    • 7.4% copper + 47 g/t silver over 5.0-metre by 5.0-metre
      
      
  • The 2021 URU discovery is located 30-km south of CONEJO, now expanded to 12-km² and open in all directions. URU appears to have major-scale potential; Thirteen rock samples over widths ranging from 10 to 25-metres returned values of 2.0% copper and above, thirty-seven returned values greater than 1.0% copper, with highlight values of 5.7 % copper and 37 g/t silver:
    • 4.3% copper and 8 g/t silver over widths of 10-metres
    • 3.9% copper and 7 g/t silver over widths of 10-metres
    • 3.6% copper and 12 g/t silver over widths of 10-metres
    • 3.0% copper and 6 g/t silver over widths of 10-metres
    • 3.0% copper and 37 g/t silver over widths of 10-metres
      
      
  • Late April 2021, Max identified the SP target, which lies along the mid portion of the CESAR North 80-km belt in line with the four previous copper discoveries URU, CONEJO, AMN and AMS;
    
    
  • Exploration continues on CONEJO and the URU zone;
    
    
  • In addition, Max has initiated the process of mineral claim approvals and drill permitting;
    
    
• CESAR West: Max has identified copper porphyry mineralization along a significant target zone.

ABOUT MAX RESOURCE CORP.

Max Resource Corp. is a copper and precious metals exploration company, engaged in advancing both newly discovered global scale CESAR copper-silver project (100% owned) in Colombia and the newly acquired RT Gold project (100% earn-in) in Peru. Both projects have potential for the discovery of large-scale mineral deposits; both stratabound-type copper-silver in Colombia and high-grade gold porphyry and massive sulfide in Peru.

Max Resource was awarded a Top 10 Ranked Company in the Mining Sector on the TSX Venture 50™ for 2021, achieving a market cap increase of 1,992% and a share price increase of 282% in 2020.

For more information visit: https://www.maxresource.com/
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Max Resource Corp.
Tim McNulty
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T: (604) 290-8100

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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.

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