MAX Power Mining Corp. is pleased to provide an update on drilling progress at Lawson 2-24 (Lawson 2), marking the start of a multi-well commercial validation drill program at Canada’s first confirmed Natural Hydrogen subsurface system near Central Butte, Saskatchewan, in the heart of the 475-km Genesis Trend.

Highlights

• Drilling is currently at a measured depth of 2,370 meters, pausing briefly ahead of coring (Core #2) after encountering a Natural Hydrogen-rich fracture zone in the basement complex (highest Natural Hydrogen readings recorded to date at Lawson by the Company’s instrumentation attached to drill rig)
• Core #1 terminated at 2,340 meters measured depth with 100% recovery (~63 m) from the Deadwood Formation into the basement complex which started at approximately 2,308 meters measured depth
• Natural Hydrogen readings have been more intense than at the original discovery well (Lawson 15-19 or “Lawson 1”), located 2.4 km to the northeast, and have been virtually continuous (well above background levels) and gradually increasing since 1,539 meters measured depth in the Upper Devonian (shortly after intermediate casing)
• Basement complex appears to be classic exotic terrane as modelled by MAX Power’s technical team – chips recovered from sleeve ends suggest presence of mafic minerals (pyroxene), potassium feldspars, hematite grains, and alteration minerals tentatively identified as epidote and serpentinite
• Helium “spikes” are more numerous in Lawson 2 compared to Lawson 1, suggesting a higher density of deeper basement fracturing.

Steve Halabura, MAX Power Chief Geoscientist, commented, “We are indeed witnessing Natural Hydrogen history being made again at Lawson in the heart of Saskatchewan’s Genesis Trend, which immediately helps de-risk our current program. What we’re seeing in this first step-out well is extremely exciting. We’re in unchartered territory, so it’ll be fascinating to see what we encounter as we deepen the well beyond this Natural Hydrogen-rich fracture zone at 2,370 meters. Every extra meter sets a new record for total meters cored into the basement complex. A completions program after casing of this well will give us the key metrics around flow, volume, and concentrations, as we strive toward commerciality at Lawson. With more drilling and much more data to review over the coming days, we eagerly look forward to providing our next update.”

Ran Narayanasamy, MAX Power CEO, commented, “Saskatchewan is once again demonstrating why it’s one of the world’s premier resource jurisdictions – the geology is incredible, and we have the policy framework for Natural Hydrogen to lead the world in this rapidly emerging new clean energy industry focused on delivering a new primary energy source. There is a quick and predictable path forward in Saskatchewan for the world’s first potential large-scale commercialization of Natural Hydrogen. Congratulations to our dedicated team for building on this unique Canadian discovery at Lawson.”