Max Resource's Max Iron Brazil options Floralia to Bolt

Executive Summary

• Max Resource’s majority‑owned subsidiary, Max Iron Brazil Ltd., entered a non‑binding LOI with Bolt Metals Corp. granting Bolt an option to earn a 100 % interest in the Floralia iron‑ore property in Minas Gerais, Brazil.
• Under the proposed terms, Bolt will pay $200,000 (U.S.) to Jaguar Mining Inc. on behalf of Max Iron Brazil and issue a total of 32,294,679 common shares (26.2 M to Max Brazil and 6,094,679 to Max Resource) over a 30‑month period, subject to due diligence and regulatory approvals.
• The release also provides operational updates on three other properties (Mora gold in Colombia, Sierra Azul copper‑silver project, and expanded hematite target at Floralia), highlighting ongoing exploration programs and preliminary resource concepts.

Key Details

• Transaction Structure
• Option agreement for Bolt Metals to acquire a 100 % interest in mineral right 832.022/2018 (Floralia property).
• Payment: $200,000 U.S. to Jaguar Mining Inc. on behalf of Max Iron Brazil.
• Share issuance: 26,200,000 common shares to Max Iron Brazil + 6,094,679 common shares to Max Resource (total 32,294,679) over 30 months.

• Completion contingent upon satisfactory due diligence, definitive documentation, and applicable regulatory approvals.

• Floralia Property – Iron‑Ore Update

• Expanded geological target from 8–12 Mt @ 58 % Fe to 50–70 Mt @ 55–61 % Fe.
• Hematite sample grades range 55 %–61 % Fe; density assumption 2.8 t/m³.
• 58 channel samples collected from in‑situ outcrops for chemical analysis.

• Logistics: road access to rail terminal (15 km) and proximity to DSO buyers Vale (16 km) and ArcelorMittal (26 km).

• Mora Gold Property – Colombia

• Undrilled property adjacent to Aris Mining’s Marmato gold operation (31.3 Mt @ 3.2 g/t Au).
• New appointments: Mr. Cocunubo (Head Geologist) and Mr. Henao (Head of Community Relations).
• Commenced channel sampling of artisanal underground mines (depths 5–90 m); results to be released shortly.

• Disclaimer that Marmato/Guayabales mineralization may not be indicative of Mora.

• Sierra Azul Copper‑Silver Project – Colombia

• Earn‑in agreement with Freeport‑McMoRan Exploration Corp.

• Fully financed $4.8 M (U.S.) exploration program for 2025 underway; results due shortly.

• Corporate Governance

• Qualified Person review by Tim Henneberry, P.Geo., member of Max Resource advisory board, qualified under NI 43‑101.

Notable Quotes

(No direct quotes were provided in the release.)