Max Power Expands Scale of Saskatchewan Natural Hydrogen System With Lawson 5, Commences Follow-Up Well

Lawson 5 near the western edge of the Prairie Evaporite has confirmed an active, generative Natural Hydrogen system in a 30-km step-out from the first four wells within the Lawson Complex near Central Butte in south-central Saskatchewan. Drilling at Lawson 6 is now in progress 8 km to the southeast.

Concurrent with continued discovery-focused drilling, MAX Power has commenced its completions program beginning with the Bracken target in the southwest corner of the province to be followed shortly by the start of comprehensive testing at Lawson in an attempt to confirm the world’s first large-scale commercial discovery of a new primary energy source.

Video: The Next Chapter https://youtu.be/LUIHqS35rMg

REGINA, Saskatchewan, Oct. 27, 2026 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) (“MAX Power” or the “Company”) is pleased to report that drilling at “Lawson 5”, a 30-km step-out from the original Lawson Natural Hydrogen Discovery near Central Butte, Saskatchewan, has confirmed the presence of a Natural Hydrogen system along the western edge of the Prairie Evaporite, and a follow-up well (Lawson 6) is now in progress approximately 8 km southeast of this new discovery.

The scale of the Natural Hydrogen opportunity in Saskatchewan is highlighted in part by the fact that MAX Power has now confirmed active, generative Natural Hydrogen systems in three distinct areas separated by as much as 365 kilometers across the central and southern part of the province, from the western edge of the Prairie Evaporite southwest through the Lawson Complex (Lawson 1 to 4) to the Bracken target in the far southwest near the Montana border. A completions program has also just commenced at Bracken and crews will head north next week to begin testing the Lawson Complex for flow, concentrations, and volume as MAX Power’s commercial validation program intensifies.

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Highlights

• Lawson 5 was successfully cased after being drilled to a total depth of 2,175 meters and will form part of the upcoming Lawson completions program (62 meters of core recovered for analysis);

• The lowermost Deadwood and Precambrian basement complex at Lawson 5 features much more pronounced iron redox, alteration and serpentinization reactions than observed to date at Lawson, including strong hematite oxidation, associated with elevated levels of Natural Hydrogen along sub-vertical faults within a package of exotic terrane source rocks;

• The Lower Interlake, above the Deadwood Formation, features helium prospective zones that will be examined for potential testing during completions.

Mr. Steve Halabura, MAX Power Chief Geoscientist, commented: “MAX Power’s pioneering work in Natural Hydrogen continues to excite and amaze our geological team. Whether we’ve hit an entirely separate Natural Hydrogen system at L-5, or whether this is connected to the Lawson Complex, will be determined through more drilling and geophysical work we’ll be undertaking to optimize our understanding of the local and regional faulting and fracture systems. Lawson 5 skirted the edge of the Salt Wall. Lawson 6 to the southeast has a greater probability of drilling right through the Prairie Evaporite.”

Mr. Halabura added: “At the Lawson Complex we are continuing to review copious amounts of data ahead of the near-term start of completions. It has become increasingly apparent that at Lawson 4, we hit the Natural Hydrogen ‘kitchen’, but a kitchen that is potentially even bigger and more robust than originally believed. We look forward to providing an update on Lawson 4 and the broader Lawson Complex shortly.”

Mr. Rob Norris, MAX Power CEO, commented: “This further expansion of the Natural Hydrogen opportunity in Saskatchewan speaks to both the favorable geology in this resource-rich province and the dedication and skill of our entire team. We’re excited to see what Lawson 6 brings as we also commence the completions round beginning at Bracken, something we’ve been eagerly anticipating for months. All of this is occurring as we approach the start of the world’s largest Natural Hydrogen conference (H-NAT) in Paris, France, where I’ll be joined next week by several of our team members as MAX Power is a significant sponsor of this event.”

Figure 1 - Lawson 5 Drill Core Sample

Figure 2 - Lawson 5 Drill Core Sample

Why This Matters to Investors

MAX Power's latest results are reinforcing a much larger geological opportunity than a single Natural Hydrogen discovery. With active, generative systems now identified at the Lawson Complex and in significant step-outs at Lawson 5 (next to the Prairie Evaporite) and at Bracken in the southwest corner of the province, an area spanning 365 kilometers, the Company is building evidence for the potential of Natural Hydrogen deposits across a basin-scale exploration corridor. Importantly, these geographically separated discoveries support the broader exploration thesis while providing additional targets for technical evaluation.

The commencement of completions at Bracken, followed immediately by comprehensive testing at Lawson, represents a critical next step. MAX Power is moving beyond confirming the presence of Natural Hydrogen toward measuring the characteristics that will determine its commercial potential: Natural Hydrogen concentrations, sustained flow rates, reservoir pressures, connectivity and ultimately recoverable volumes and production economics. The aggressive, back-to-back program is designed to generate important technical data across multiple targets while drilling continues to investigate the potential for new discoveries.

At the same time, MAX Power is advancing the broader commercial strategy required to potentially bring a new primary energy source to market. Alongside its technical program, the Company continues to evaluate infrastructure requirements, prospective energy markets and opportunities for future commercial development. This parallel approach reflects MAX Power's “Months to Molecules” strategy: Advancing geological discovery, commercial validation and potential routes to market together, rather than sequentially.

For investors, the significance is the convergence of these developments. MAX Power is expanding its understanding of the regional Natural Hydrogen opportunity while beginning the testing needed to establish whether that geological potential can translate into commercially viable energy production.

Figure 3 - MAX Power Drilling at Lawson 5 Well (October 2026)

MAX Power Attends Two Prominent Investor Conferences This Week

MAX Power is pleased to announce its participation in two prominent investor conferences taking place in Toronto on Wednesday and Thursday, October 28 and 29, 2026. Chad Levesque, President and Director, will present at the Planet MicroCap Showcase: Toronto 2026, powered by MicroCapClub, on Wednesday, October 28, at 12:00 p.m. Eastern Time, at Arcadian Court & Loft, 401 Bay Street.

The conference brings together leading microcap investors, emerging growth companies and industry professionals for corporate presentations and one-on-one investor meetings. Rob Norris, CEO and Director, will present at the Red Cloud Fall Mining Showcase on Wednesday, October 28, at 1:40 p.m. Eastern Time, at the Omni King Edward Hotel, 37 King Street East. The Red Cloud Showcase brings together mining and exploration companies, institutional investors and resource-sector professionals.

In addition to their presentations, Mr. Levesque and Mr. Norris will conduct dozens of one-on-one investor meetings throughout the two conferences, engaging directly with institutional investors, fund managers and other members of the investment community. These meetings will provide an opportunity to discuss MAX Power’s recent advancements at its Lawson Natural Hydrogen Discovery, the Company’s ongoing exploration and testing programs, and its broader strategy to advance the commercialization of Natural Hydrogen across Saskatchewan’s Genesis Trend. The Company’s participation in both conferences reflects its continued commitment to expanding investor awareness, strengthening relationships within the capital markets and positioning MAX Power at the forefront of the emerging Natural Hydrogen sector.

Figure 4 - Genesis Trend Map – 475 km “Natural Hydrogen Highway”

MAX Power Raises $1.66 Million Through Warrant & Option Exercises

MAX Power is pleased to report that from September 1 through October 15, 2026, the Company further solidified its strong cash position by raising a total of $1,662,000 through the exercise of warrants (1,187,500 warrants for $1,462,500) and stock options (891,667 for $199,500).

Hampton Agreement

Effective October 13, 2026, MAX Power entered into an advisory fee agreement (the “Agreement”) with Hampton Securities Limited (“Hampton”), pursuant to which Hampton will provide advisory services to the Company. The engagement period commences on the date the Agreement was executed and extends until December 31, 2026.

In consideration for the advisory services, the Company has agreed to pay Hampton a one-time advisory fee of $400,000 plus applicable taxes, payable upon execution of the Agreement. The Agreement is non-exclusive, and Hampton is not entitled to any compensation other than the advisory fee.

Hampton is located at 141 Adelaide Street West, Suite 1800, Toronto, Ontario, M5H 3L5. Its primary contact is Andrew Deeb, Managing Director – Investment Banking (Telephone: 416-862-8686; Email: adeeb@hamptonsecurities.com). Any securities of the Company held by Hampton were not received as compensation for the advisory services under the Agreement, and no securities of the Company are issuable to Hampton under the Agreement.

Amended Marketing Agreement – RazorPitch

MAX Power has further amended its investor marketing and consulting agreement (the “Agreement”) with RazorPitch, Inc. (“RazorPitch”), previously announced by the Company, to continue and expand the scope of services and increase the compensation payable thereunder.

Under two amendments, effective October 5, 2026, and October 13, 2026, respectively, RazorPitch will continue to provide investor awareness marketing services, including digital, social, influencer and broker marketing, together with news amplification services, in addition to the services previously disclosed under the Agreement.

In consideration for the additional services, the Company will pay RazorPitch additional cash fees of $250,000 USD under each amendment, for an aggregate additional fee of $500,000 USD, bringing total cash consideration payable to RazorPitch under the Agreement, as amended, to $850,000 USD. No securities of the Company are issuable to RazorPitch as compensation under the Agreement, as amended.

The term of the Agreement is unchanged and continues until November 14, 2026. All other terms of the Agreement remain unchanged. To the knowledge of the Company, RazorPitch and its principals remain at arm’s length to the Company and do not hold any securities of the Company. RazorPitch is responsible for ensuring that its promotional activities comply with applicable securities laws and CSE policies.

Marketing Agreement - EMC

MAX Power has engaged Emerging Markets Consulting, LLC (“EMC”) to conduct an influencer and AI discoverability campaign (the “Campaign”) to raise awareness of Natural Hydrogen and the Company for a 2-week period beginning the week of October 26, 2026. In consideration for the Campaign, the Company has agreed to pay EMC $200,000 USD. EMC is located at 390 North Orange Avenue, Suite 2300, Orlando, Florida, and its principal is James S. Painter. EMC deals with the Company at arm’s length, and neither EMC nor its principals own, directly or indirectly, any securities of the Company. EMC’s compensation is payable in cash only, not securities of the Company.

Recent Videos

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

What if the Answer to Natural Hydrogen Was Beneath Our Feet All Along? https://youtu.be/srV-RCmzzPk

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 2.5 million acres (~1 million 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,
Rob Norris, CEO
MAX Power Mining Corp.