MAX Power shareholders approve Sprott control person resolution

Video: The Time is Now https://youtu.be/TKnEnBEQ0TM

REGINA, Saskatchewan, Aug. 21, 2026 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) (“MAX Power” or the “Company”) is pleased to announce the results of its Special Meeting of Shareholders (the “Meeting”) held on Thursday, August 20, 2026, at which disinterested shareholders overwhelmingly approved the resolution relating to the creation of Mr. Eric Sprott as a control person of the Company.

More than 99.92% of the votes cast by disinterested shareholders at the Meeting were voted in favour of the resolution. The approval provides Mr. Sprott with greater flexibility to increase his ownership position in MAX Power.

As previously announced by the Company, Mr. Sprott indirectly owns and exercises control over 34,984,979 common shares and 28,638,548 common share purchase warrants, representing approximately 19.5% of the issued and outstanding common shares on a non-diluted basis and approximately 30.5% on a partially diluted basis, assuming exercise of the warrants. Additional information regarding the matters considered at the Meeting is contained in the Company’s management information circular dated June 30, 2026, which is available under the Company’s profile on SEDAR+.

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Figure 1: Drilling at Lawson 3 Well, Genesis Trend (Aug. 2026)

Recent Videos

President Chad Levesque On Significance of Lawson https://youtu.be/wCeFQTKtOuI

What is Natural Hydrogen? https://www.youtube.com/watch?v=S0bqqZeIpxc

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

About MAX Power

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 and Forward-Looking Information

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws (collectively, “forward-looking information”). Forward-looking information in this news release includes, but is not limited to, statements regarding the potential future participation by Mr. Sprott in financings of the Company, the potential exercise of warrants held by Mr. Sprott, the possibility that Mr. Sprott may become a control person of the Company, the Company’s future financing activities, and the Company’s exploration and development plans.

Forward-looking information is based on management’s current expectations, estimates, projections, assumptions and beliefs and is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, among others, the possibility that Mr. Sprott may not participate in future financings or exercise any or all of his warrants, changes in market conditions, the availability of financing, exploration and development risks, regulatory risks, commodity price fluctuations and other risks associated with the mineral exploration industry.

Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, there can be no assurance that such information will prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking information. Additional information regarding the risks and uncertainties applicable to the Company and its business is contained in the Company’s continuous disclosure filings available under the Company’s profile on SEDAR+. Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive. The Company undertakes no obligation to update or revise any forward-looking information, whether the result of new information, future events or otherwise, except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Photos accompanying this announcement are available at:

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GlobeNewswire

August 21, 2026 - 5:00 AM PDT

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