Max Power Mining appoints Narayanasamy as CEO

Executive Summary

• Max Power Mining Corp. appointed Ranjith (Ran) Narayanasamy as its new Chief Executive Officer, effective December 8, 2025, succeeding Mansoor Jan.
• The company announced a strategic restructuring involving the potential spinout or separate transaction of its U.S. critical minerals subsidiary, with current CEO Mansoor Jan transitioning to lead the U.S. operations to unlock value from the Willcox playa lithium project.
• Max Power is advancing its natural hydrogen strategy, having secured the largest permitted land position in Canada (1.3 million acres) and preparing to spud Canada’s first dedicated natural hydrogen well at the Lawson target in early November 2025.

Key Details

• CEO Appointment: Ranjith (Ran) Narayanasamy appointed CEO effective Dec. 8, 2025. He previously served as President and CEO of the Petroleum Technology Research Centre (PTRC) and will remain there through November for transition.
• Leadership Transition: Mansoor Jan, current CEO, will become CEO of Max Power’s U.S. critical minerals subsidiary.
• U.S. Subsidiary Strategy: The Board approved plans for a potential spinout or strategic transaction for the U.S. subsidiary to realize value from the Willcox playa lithium project in Arizona, capitalizing on U.S. domestic critical minerals supply chain priorities.
• Drilling Operations:
  • Max Power is preparing to drill Canada’s first-ever deep well targeting natural hydrogen at the Lawson target on the 200-kilometre Genesis trend in Saskatchewan.
  • Well licensing received; mobilization commencing for an early November spud.
  • Strategy includes a multiwell drilling program to test play concepts across hundreds of kilometres of prospective ground.
• Land Position:
  • Holds 1.3 million acres of permits for natural hydrogen exploration in Canada.
  • Has an additional 5.7 million acres under application.
• Financial History:
  • Closed $5.7 million in financings, including a lead order from Eric Sprott.
  • Arranged an additional $5 million strategic investment from a leading Southeast Asian conglomerate.
• Technical Assets:
  • Developed a geological model for natural hydrogen in Saskatchewan.
  • Introduced "Maxx Lemi," a next-generation Earth model for exploration.
• Board Changes: Expanded board with Saskatchewan and global energy leaders, including former Cameco chairman Neil McMillan and former Saskatchewan cabinet minister Rob Norris.

Notable Quotes

• Ranjith Narayanasamy, CEO: "My mandate is simple: convert an impressive technical edge into repeatable discovery and commercialization and further build shareholder value while maintaining Max Power's commitment to safety, indigenous economic participation and capital discipline."
• Mansoor Jan, Incoming U.S. Subsidiary CEO: "Ran is the right leader at exactly the right time. His Saskatchewan credentials, clean energy track record and boardroom gravitas will accelerate Max Power's natural hydrogen strategy for this exciting new phase."
• Neil McMillan, Director: "These moves strengthen Max Power on two fronts: Ran's appointment elevates execution on Canada's first multiwell natural hydrogen program and puts us on a pathway to potential development. The proposed spinout of the Willcox lithium project crystalizes this asset in a market that's again paying attention to lithium and strategic minerals security in the United States."