Max Power Mining prepares to drill Bracken well

Executive Summary

• Max Power Mining Corp. is preparing to drill a second natural hydrogen well, the "Bracken" well, located approximately 325 km southwest of its Lawson discovery in Saskatchewan, with licensing underway for a February start.
• The Bracken well targets a different geological play concept (stratigraphic vs. structural) to demonstrate basin-scale continuity and scalability of natural hydrogen systems across the province.
• The company also announced the granting of stock options and RSUs to management and directors, and entered into marketing and communications service agreements with Apollo Shareholder Relations and BW Venture Strategies.

Key Details

• Bracken Well Location & Timing: Located along the Saskatchewan-Montana border; licensing is under way to commence drilling in February.
• Geological Context: Bracken is part of the broader Grasslands project on Max Power’s 75-kilometre-wide permitted land package. It serves as a key calibration point for future drilling and tests a stratigraphic play concept, distinct from the structural play concept at Lawson.
• Data & Technology: The target was generated using an integrated workflow of 34.3 line kilometres of newly acquired proprietary 2-D seismic data combined with legacy data. The project utilizes the company’s proprietary AI-assisted large Earth model integration (LEMI) platform, known as MAXX LEMI.
• Strategic Importance: Drilling at Bracken aims to validate that natural hydrogen systems are repeatable and scalable across multiple trends, potentially including helium. Success would derisk additional prospects within the seismic and MAXX LEMI framework.
• Options Granted: 3,415,000 stock options granted at an exercise price of $1.08 with a three-year expiry.
• RSUs Granted: 2.99 million Restricted Stock Units (RSUs) granted to management, directors, and consultants. Vesting terms to be determined by management.
• Apollo Shareholder Relations Agreement: Service agreement for investor awareness and communications. Initial term of six months commencing Jan. 23, 2026. Total cash fee of $45,000 payable over the term, plus 100,000 stock options (subject to board approval).
• BW Venture Strategies Agreement: Communications services agreement effective Jan. 19, 2026, for public and media relations. Term of six months with total fees of $10,000 per month payable in cash. No equity compensation provided to Venture Strategies.

Notable Quotes

• Steve Halabura, Chief Geoscientist: "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 subsurface in Saskatchewan, through historical drilling, and the broader area is a known helium fairway. At Bracken, we'll be testing a stratigraphic play concept versus the structural play concept successfully developed at Lawson and across the Genesis trend."
• Ran Narayanasamy, CEO: "We continue to move at a rapid pace with respect to natural hydrogen exploration and development in Saskatchewan... This also highlights the stark timeline difference between exploration and potential commercialization of natural hydrogen versus traditional mineral and metal projects. This is months to molecules, not years."