Max Power Prepares to Drill Second Natural Hydrogen Well as Program Expands 325 km SW of Lawson Discovery

• Newly acquired proprietary 2D seismic data has allowed for delineation of a technically robust Natural Hydrogen drill target at “Bracken” on the Grasslands Project along the Saskatchewan-Montana border

• Bracken will test a second “play concept” with its own unique trap and seal mechanisms compared to Lawson, Canada’s first Natural Hydrogen drilling discovery 325 km to the northeast

• Bracken, on a different trend than Genesis, further highlights scale and repeatability potential of Natural Hydrogen accumulations across the province of Saskatchewan where MAX Power owns Canada’s largest permitted land package for this emerging new primary energy source

• Drilling at Bracken will occur in parallel with advancement of Lawson toward potential commerciality

MAX Power Saskatchewan Natural Hydrogen Documentary Videohttps://www.maxpowermining.com/NaturalHydrogen-NewEra/

SASKATOON, Saskatchewan, Jan. 30, 2026 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) (“MAX Power” or the “Company”) is pleased to announce that in parallel with the ongoing analytical testing, resource modelling, and resource estimation program at its Lawson Natural Hydrogen Discovery in the heart of the 475-km-long Genesis Trend, the Company has identified a robust target for near-term drilling of a second “play concept” for Natural Hydrogen in Saskatchewan. Licensing is underway to commence the “Bracken” well along the Saskatchewan-Montana border in February.

With a Natural Hydrogen discovery now confirmed at Lawson, MAX Power is advancing toward potential commercialization while simultaneously testing additional play concepts across Saskatchewan. The Bracken well represents an important step in demonstrating basin-scale continuity, supporting the geological team’s interpretation that Natural Hydrogen systems in Saskatchewan are repeatable and scalable across multiple trends.

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Bracken Highlights

• The Bracken well location was generated through an integrated geophysical and geological workflow leveraging 34.3-line kilometers of newly acquired proprietary 2D seismic data combined with legacy 2D seismic.

• This dataset was rigorously interpreted to delineate basement architecture, structural and stratigraphic pathways, and prospective migration corridors considered critical to Natural Hydrogen and associated clean gas accumulation.

• Like Genesis to the northeast, the Grasslands Project is considered prospective for multiple potential Natural Hydrogen discoveries that may also include helium.

• Bracken and the broader Grasslands Project is benefiting from, and informing, the Company’s in-house AI-assisted Large Earth Model Integration (LEMI) platform known as MAXX LEMI, MAX Power’s proprietary tool to optimize Natural Hydrogen exploration and drill target selection.

Mr. Steve Halabura, Chief Geoscientist, commented: “We’re very excited regarding Bracken given the amount of data we have from the area and all that we’ve learned from Lawson. Bracken is where the MAX Power team first discovered Natural Hydrogen in the sub-surface in Saskatchewan, through historical drilling, and the broader area is a known helium fairway. At Bracken, we’ll be testing a stratigraphic play concept vs. the structural play concept successfully developed at Lawson and across the Genesis Trend. There are some similarities in the Natural Hydrogen geological model between Bracken and Lawson, but each has its own unique trap and seal mechanisms.”

Mr. Ran Narayanasamy, President and Chief Executive Officer, added: “We continue to move at a rapid pace with respect to Natural Hydrogen exploration and development in Saskatchewan where we have the advantage of a mature and favorable policy framework. This also highlights the stark timeline difference between exploration and potential commercialization of Natural Hydrogen vs. traditional mineral and metal projects. This is months to molecules, not years. Our goal is to quickly unlock scalable, low-carbon energy resources in Saskatchewan, and leverage the MAXX LEMI model for Natural Hydrogen on a global basis.”

Bracken and the Grasslands Project

The Bracken prospect forms part of a broader, regionally extensive exploration fairway across MAX Power’s 75-km-wide permitted Grasslands Project. This emerging play has meaningful district-scale potential, with Bracken serving as a key calibration point for future drilling locations. Success at Bracken would materially de-risk additional prospects already defined within the seismic and MAXX LEMI framework, positioning MAX Power to rapidly advance a growing inventory of follow-up targets across its highly prospective Saskatchewan portfolio.

Figure 1: Grasslands Project Map

Why This Matters to Investors

Advancing a second, independently derived Natural Hydrogen play concept a few hundred kilometers from Lawson in the southwest corner of the province reinforces that the Company’s opportunity extends beyond a single discovery or trend and into a potentially very large basin-scale system. Lawson has validated MAX Power’s geological model for Natural Hydrogen, a model that includes multiple play concepts – the second of which will be tested at Bracken with strong confidence given recently interpreted proprietary 2D seismic data combined with initial success at Lawson. As commercialization efforts advance at Lawson, drilling at Bracken provides an opportunity to further define scale, potential economics, and long-term development possibilities for Natural Hydrogen in Saskatchewan.

Options and RSUs Granted

The Company announces that it has granted 3,415,000 stock options at an exercise price of $1.08 with a 3-year expiry, and 2,990,000 restricted stock units (RSUs) to management, directors, and consultants of the company. The stock options and RSUs will vest in accordance with vesting terms to be determined by management and subject to the terms and conditions of the Company’s stock option and restricted stock unit plan.

MAX Power Enters into Marketing Agreements

The Company has entered into a service agreement with Apollo Shareholder Relations Ltd. (“Apollo”) to provide investor awareness and investor communications services. Under the agreement, Apollo will conduct digital investor relations and communications activities intended to increase awareness and understanding of the Company and its business.

The agreement has an initial term of six (6) months, commencing January 23, 2026, and may thereafter continue on a month-to-month basis. Under the agreement, the Company will pay Apollo an aggregate cash fee of $45,000, payable over the initial term, and will grant 100,000 stock options, subject to board approval. The stock options will be issued in accordance with the Company’s stock option plan and applicable securities laws. The agreement contains no performance-based compensation.

Apollo and the Company are arm’s length and unaffiliated parties. At the time of the agreement, Apollo and its principals advised that they did not hold any direct or indirect interest in the securities of the Company.

MAX Power has also entered into a communications services agreement with BW Venture Strategies Inc. (“Venture Strategies”), effective January 19, 2026, to provide public relations and media relations services, including strategic communications and media outreach.

The agreement has a term of six (6) months, with total fees of $10,000 per month, payable in cash. Venture Strategies is not providing investor relations services as defined under Canadian Securities Exchange policies, will not receive any equity compensation, and is arm’s length to the Company.

Figure 2: Drilling of Lawson Discovery Near Central Butte, SK, in November 2025

Recent Videos

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

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

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

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

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

About MAX Power

MAX Power is an innovative mineral and energy exploration company focused on North America’s shift to decarbonization. The Company is a first mover in the rapidly growing Natural Hydrogen sector where it has built a dominant district-scale land position in Saskatchewan with approximately 1.3 million acres (521,000 hectares) of permits, plus an additional 5.7 million acres under application, covering prime exploration ground prospective for large-volume accumulations of Natural Hydrogen. Canada’s first-ever well specifically targeting Natural Hydrogen has been drilled by MAX Power at the Lawson target on the Genesis Trend, confirming a working subsurface system. MAX Power also holds a portfolio of properties in the United States and Canada focused on critical minerals. These properties are highlighted by a 2024 diamond drilling discovery at the Willcox Playa Lithium Project in southeast Arizona, 100%-owned by MAX Power’s U.S. subsidiary Homeland Critical Minerals Corp.

On behalf of the Board of Directors,

Ran Narayanasamy, CEO
MAX Power Mining Corp.

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