Max Resource Corp. (TSXV:MAX) entered into conditional Letter of Intent to acquire Florália Hematite Iron Ore Property in Brazil from Jaguar Mining Inc. (TSX:JAG) on April 12, 2024. The LOI outlines the terms of purchasing 100% of the Florália hematite iron ore property (the ?Property?

or ?Florália Property?) located 120-km east of the city of Belo Horizonte in the State of Minas Gerais, Brazil. Under the terms, Max has paid a USD $100,000 non-refundable deposit. Remaining cash payments: $200,000 within five business days following the effective date of the APA.

$300,000 within five business days of Max transferring the Mineral Right to wholly owned subsidiary of Max incorporated in Brazil. $200,000 within five business following the date of 6 months from the effective date of the APA. $200,000 within five business following the date of 12 months from the effective date of the APA.

The transaction will be a Fundamental Acquisition as defined by the policies of the TSX Venture Exchange (the ?Exchange?) and is subject to approval of the Exchange and Max completing all filing requirements and shareholder approval, if required. Trading will remain halted pending receipt and review of acceptable documentation pursuant to Section 5.6 (d) of TSXV Policy 5.3 regarding a Fundamental Acquisition. As of June 5, 2024, Max Resource received conditional approval from the TSX Venture Exchange for the Transaction.