MAX Power closes sale of Arizona lithium asset

REGINA, Saskatchewan, July 31, 2026 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) (“MAX Power” or the “Company”) is pleased to announce that it has completed the previously announced strategic transaction with Homeland Critical Minerals Corp. (“Homeland”), and has received CSE clearance for this transaction, pursuant to a Share Purchase Agreement dated June 5, 2026 (the “Agreement”). MAX Power has sold all the issued and outstanding equity interests of its wholly owned subsidiary, MAX Power Resources LLC, to Homeland, in exchange for 11 million common shares of Homeland (the “Consideration Shares”). MAX Power Resources LLC owns the Willcox Playa Lithium Project (the “Willcox Project”) and is a limited liability company existing under the laws of the State of Arizona.

MAX Power may evaluate various alternatives with respect to its Homeland share position in the future, including the potential distribution of some or all such shares to MAX Power shareholders, subject to applicable corporate, securities and regulatory requirements. Homeland intends to pursue a near-term listing on the TSX Venture Exchange.

Other benefits of this transaction for MAX Power shareholders are as follows:

MAX Power remains intensely focused on its immediate goal of making the Lawson Complex and the broader Genesis Trend the global birthplace of large-scale Natural Hydrogen commercialization;

With an improved lithium market and an administration focused on critical minerals development, Homeland is well positioned to unlock value from the Willcox Project and pursue other potential critical mineral opportunities in the United States;

Through its ownership of 11 million Consideration Shares, representing just under 50% of Homeland's issued and outstanding shares, MAX Power maintains significant exposure to the future success of the Willcox Project and Homeland's broader business strategy.

In early 2024, MAX Power confirmed a drilling discovery of near-surface lithium-rich clays over an extensive area of the Willcox Project along the eastern side of the broader 50-square-mile playa (refer to April 26, 2024, news release ). Much of the rest of the playa is leased by the U.S. Department of Defense from the Bureau of Land Management (BLM).

The Deal

Pursuant to the Agreement, Homeland acquired all the issued and outstanding equity interests of MAX Power Resources LLC in exchange for the Consideration Shares. The Consideration Shares have an aggregate fair market value of approximately $1.1 million (CDN) and were negotiated on an arm's-length basis. No finder's fees were payable in connection with the transaction. The Consideration Shares are subject to applicable statutory resale restrictions, including a four-month hold period.

Mr. Ran Narayanasamy, MAX Power CEO, commented: “We are pleased to have completed this transaction, which unlocks the value of an asset overlooked by investors given our intense focus on Natural Hydrogen and our success in Saskatchewan. As a major shareholder of Homeland, MAX Power looks forward to this company’s development and growth as an important player in the critical minerals sector in the United States.”

Figure 1 – Drilling Photo From Lawson, Genesis Trend (Nov. 2025)

Recent Videos

Genesis Explained: Its “Salt Barrier” Advantage and Proximity to Demand https://www.youtube.com/watch?v=3ytpHdve6S8

The Genesis Trend’s Industrial Corridor https://youtube.com/shorts/IAgALH_s3mI

Lawson – Canada’s First Big Step into Natural Hydrogen https://www.youtube.com/watch?v=lTTOwMxz_zo

MAX Power Leaps at Lawson https://www.youtube.com/watch?v=Yr4Ha06__Eg

Watch the Drill in Action https://www.youtube.com/watch?v=eguNGAfdIek

MAX Power Saskatchewan Natural Hydrogen Documentary Video https://www.youtube.com/watch?v=TXGDtTUbJ2c

History in The Making at Lawson – Video Immediately Ahead of Drill Rig Setup https://www.youtube.com/watch?v=BNHazk9Sy4E

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MAX Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The Company’s Lawson Discovery near Central Butte, Saskatchewan, represents Canada’s first-ever subsurface Natural Hydrogen system confirmed through deep drilling with data validated by three independent labs. MAX Power has built dominant district-scale land positions across Saskatchewan with approximately 2 million acres (~809,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of Natural Hydrogen, and has commenced a multi-well follow-up drill program to validate the commerciality of the broader Lawson Complex interpreted to cover a 28 sq. km area along the 475-km Genesis Trend. MAX Power also holds a significant equity position in Homeland Critical Minerals which now owns the Willcox Project in Arizona, a lithium discovery confirmed in early 2024 by MAX Power. MAX Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.

On behalf of the Board of Directors,

Ran Narayanasamy, CEO MAX Power Mining Corp. info@maxpowermining.com

For further information, please contact:

Chad Levesque, President Ph: 1-306-981-4753 chad@maxpowermining.com

Media Contact:

Sarah Mawji, Venture Strategies sarah@venturestrategies.com

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws, collectively referred to as “forward-looking information”. Forward-looking information in this news release includes, but is not limited to, statements regarding the anticipated benefits of the transaction; MAX Power's continued focus on the Lawson Complex, the Genesis Trend and its Natural Hydrogen exploration and commercialization objectives; the potential for large-scale Natural Hydrogen commercialization; the ability of Homeland to advance, develop and unlock value from the Willcox Project; Homeland's ability to pursue additional critical mineral opportunities in the United States; the future value and performance of Homeland and the Consideration Shares; MAX Power's continued exposure to the future success of Homeland and the Willcox Project; and MAX Power's future plans and potential alternatives with respect to its ownership of the Consideration Shares, including the potential distribution of some or all of the Consideration Shares to MAX Power shareholders.

Forward-looking information is based on a number of assumptions that management believes are reasonable as of the date of this news release, including assumptions regarding the continued development and advancement of the Company's Natural Hydrogen assets; the results of future exploration, testing and development activities; the availability of financing and other resources required to advance exploration and development activities; commodity and critical mineral market conditions; Homeland's ability to advance the Willcox Project and execute its business strategy; the future value and liquidity of the Consideration Shares; and the receipt of any corporate, securities, regulatory or other approvals that may be required in connection with any future disposition or distribution of the Consideration Shares.

Although MAX Power believes that the expectations and assumptions reflected in such forward-looking information are reasonable, there can be no assurance that they will prove to be correct. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, among others, risks associated with mineral and Natural Hydrogen exploration and development; the speculative nature of exploration activities; uncertainty regarding exploration results and the commercial viability of any discovery; delays in obtaining permits, approvals or surface access; availability of capital and financing on acceptable terms; changes in commodity prices and market conditions; technological, operational and infrastructure risks; changes in laws, regulations and government policies; risks associated with Homeland's business, management and ability to advance the Willcox Project; the absence of an established public market or liquidity for the Consideration Shares; fluctuations in the value of the Consideration Shares; and the possibility that MAX Power may determine not to dispose of or distribute the Consideration Shares, or may be unable to do so on the timing or terms currently contemplated.

Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date hereof, and MAX Power undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Additional information regarding risks and uncertainties affecting MAX Power and its business is available under the Company's profile on SEDAR+ at www.sedarplus.ca.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/22910baf-bde6-4552-9cd4-07461a311273