Max Power talks Lawson natural hydrogen testing

Executive Summary

• Max Power Mining Corp. is mobilizing a service rig to the Lawson well in Saskatchewan to begin zone testing, marking the next phase of evaluation for Canada's first natural hydrogen well.
• The company has received final Vietnamese government approvals for a strategic partnership with a Southeast Asian conglomerate, including an initial $5-million investment, and expects to close the transaction in the coming days pending final CSE approval.
• Preliminary analytical results from core scanning and gas testing have been encouraging, prompting the move to detailed chemical analysis and pressure recording to assess commercial viability.

Key Details

• Rig Mobilization: A service rig is mobilizing to the Lawson well near Central Butte, Sask., anticipated to arrive later in the week of Dec. 1, 2025.
• Testing Program Scope:
  • Perforation of casing through specific zones of interest.
  • Capture of gas and liquid samples for detailed chemical analysis.
  • Recording of pressures using both downhole and at-surface pressure recorders.
  • Isolation of perforated zones with bridge plugs to secure the well until further work is required.
• Strategic Partnership Update:
  • Partner: A leading Southeast Asian conglomerate based in Vietnam.
  • Investment: Initial $5-million investment.
  • Status: Final Vietnam government approvals received this week; represents the investor's first entry into Canada.
  • Closing: Expected in the coming days, subject to final approval of the Canadian Securities Exchange (CSE).
  • Previous announcements referenced: Sept. 24, 2025, and Oct. 28, 2025.
• Technical Context:
  • The Lawson well is located on the 475-kilometre-long Genesis trend.
  • Natural hydrogen and helium were previously confirmed in multiple horizons.
  • The current phase follows an analytic phase and precedes a completion test phase.
• Company Land Position:
  • Approximately 1.3 million acres (521,000 hectares) of permits in Saskatchewan.
  • Portfolio includes properties in the US and Canada, including a 2024 diamond drilling discovery at the Willcox Playa lithium project in southeast Arizona.

Notable Quotes

• Steve Halabura, Chief Geoscientist: "This data will help us understand the composition of any gas stream that can flow from porous and permeable zones, flow rate and pressures inherent within such zones, and mechanisms of gas generation. This data is of inestimable value in assessing at an early stage what should be considered as being 'commercial.'"