MAX closes debt and option agreements with Bolt Metals

Vancouver, British Columbia--(Newsfile Corp. - June 12, 2026) - MAX RESOURCE CORP.   (TSXV: MAX) (" Max " or the " Company ") is pleased to announce that, further to the announcement dated May 13, 2026, pursuant to the debt settlement (the " Debt Settlement ") dated May 12, 2026, with Bolt Metals Corp. (" Bolt "), in connection with exploration costs incurred by Max on its Florália High Purity Iron Property (title no. 832.022/2018) (the " Property ") Bolt has issued Max: (i) 4,000,000 Shares of Bolt ("Shares"); and (ii) 2,000,000 pre-funded warrants of Bolt under certain terms. In addition, Max Iron Brazil Ltd. (" Max Iron "), an entity controlled by Max, pursuant to the definitive option agreement dated May 12, 2026, as amended (the " Option Agreement "), whereby Bolt has the right to acquire 100% of the Property by issuing to Max Iron an aggregate of 26,800,000 Bolt Shares under certain terms, the transactions contemplated by the option agreement are executed. Florália High Purity Iron Property Highlights The Property is located 67 km east of the capital city of Belo Horizonte, Minas Gerais, Brazil's largest iron ore and steel-producing state.

Iron ore remains critical for global infrastructure and steel production. Key Property highlights include: Strategic Location and Logistics: Lies adjacent to established infrastructure, rail networks, and major local markets (including Vale, ArcelorMittal, and Avante) ensuring efficient logistics and market access; Strong Exploration Potential: The initial oxide exploration target is estimated at 50 to 70 Mt grading 55% to 61% Fe¹; Favorable Metallurgy: Low-cost crushing and dry magnetic processing; Significantly De-Risked: Advanced by existing open-cut, historical drilling, airborne LiDAR/Magnetic survey and metallurgical test work. The Property does not require a tailings dam or water permits, allowing for fast-tracked permitting, reduces capital expenditure and the overall environmental footprint. ¹The Company cautions investors that the potential quantity and grade of the Florália Exploration Target is conceptual in nature and therefore is an approximation.

There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Hematite mineralization tonnage potential estimation is based on in situ high-grade outcrops and interpreted and modelled magnetic anomalies. Density value used for the estimate is 2.8t/m³.

Hematite sample grades range between 55-61% Fe. The 58 channel samples were collected for chemical analysis from in situ outcrops in previously mined slopes of industrial materials. "We are excited to close the debt and option transactions with our new partners who have received gross proceeds of over $10 million through equity financings in the past 12 months accompanied with strong stakeholder support.

This transaction underscores our active strategy of advancement of the Company's Mora Gold Silver and Sierra Azul Copper Silver projects in Colombia," commented Max CEO, Brett Matich. Figure 1: Advantages; major infrastructure, local ready market requiring minimal transportation, upon successful exploration and development: rail terminal, Vale (16 km NW) and ArcelorMittal (26 km NE) To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3834/301222_11e2a155145b9829_001full.jpg Figure 2: Florália open cut and historic drilling campaign To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3834/301222_11e2a155145b9829_002full.jpg Max Debt Settlement Pursuant to the Debt Settlement dated May 12, 2026, with Bolt in connection with exploration costs incurred by Max on its Florália Property, Bolt has issued Max: (i) 4,000,000 Shares of Bolt (" Shares "); and (ii) 2,000,000 pre-funded warrants of Bolt (each, a " Pre-Funded Warrant "). Each Pre-Funded Warrant will be exercisable into one Bolt Share at an exercise price of $0.001 per share for a period of 24-months from the date of issuance (collectively, the " Securities ").