MAX Power Mobilizes Drill Rig for Multi-Well Commercial Validation Program at Lawson Natural Hydrogen Complex

MAX Power has announced that drilling will resume next week at its Lawson Natural Hydrogen Complex in Saskatchewan, marking the start of a multi-well commercial validation program aimed at evaluating the commercial potential of its natural hydrogen discovery. 

Savanna Drilling Rig #416 is being mobilized to site after previously completing drilling at the company's Bracken target. The rig has been equipped with specialist hydrogen and helium gas detection systems developed alongside MAX Power's technical team. 

The first well will target the apex of the Lawson structure, approximately two kilometres from the original discovery well. The location was selected following interpretation of a high-resolution 3D seismic survey completed earlier this year, which identified a 14.2 km² structural closure within the broader 28 km² Lawson Complex. According to the company, drilling is expected to reach the primary target interval during the week of July 27. 

MAX Power describes this phase as commercial validation rather than exploration. The program is intended to evaluate key parameters including hydrogen flow, pressure behaviour, reservoir continuity, gas concentrations, deliverability and overall scalability—factors required to assess whether the discovery could support future commercial development. 

The company noted that the program builds on several milestones achieved over the past year, including Canada's first confirmed subsurface natural hydrogen discovery, independent laboratory validation, detailed 3D seismic imaging and third-party geological modelling. 

Alongside the operational update, MAX Power announced the renewal of its investor awareness agreement with Emerging Markets Consulting and the granting of stock options to directors, officers and consultants. 

Full press release is attached below:

REGINA, Saskatchewan, July 10, 2026 (GLOBE NEWSWIRE) -- MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FSE: 89N) (“MAX Power” or the “Company”) is pleased to announce that Savanna Drilling Rig #416 is being mobilized early next week to the Lawson Natural Hydrogen Complex in south-central Saskatchewan to commence a multi-well commercial validation drill program aimed at defining the world’s first large-scale commercial discovery of Natural Hydrogen.

Savanna Rig #416 is a highly efficient “super single” rig that was used this past spring at the Bracken target (a 325-km step-out from the Lawson Discovery) where MAX Power encountered multiple prospective Natural Hydrogen and helium zones for near-term follow-up. Savanna Rig #416 comes with an exceptionally experienced crew and is outfitted with special state-of-the-art gas detection equipment, for Natural Hydrogen and helium, provided by the MAX Power technical team.

Mr. Ran Narayanasamy, MAX Power CEO, commented: “This is a historic moment for Saskatchewan and Canada as we return to Lawson to commence a multi-well commercial validation program. Our geological team expects drilling of this initial well to reach the main targeted discovery area during the week of July 27.”

Mr. Narayanasamy added: “Over the past year at Lawson we have progressed from discovery to independent laboratory confirmation to high-resolution 3D seismic and modelling. Concurrently, we have been reviewing multiple potential commercial pathways for Natural Hydrogen in Saskatchewan with a ‘months to molecules’ plan. We’re moving at breakneck speed and we’re now entering the phase that matters most. Large-scale commercialization of Natural Hydrogen would be a major development at a time when energy security and affordability are key issues across North America and the globe.”

Mr. Steve Halabura, MAX Power Chief Geoscientist, added: “The high-resolution 3D seismic survey completed in the spring has given us great confidence entering this commercial validation drill program at Lawson. We have strong targets and impressive potential scale associated with this Natural Hydrogen system, given the 14.2 sq. km structural closure within the broader 28 sq. km Complex. The entire team is eager and excited to launch this program and write another chapter in the history of the Saskatchewan resource sector.”

Commercial Validation Drilling Targets Apex and Flanks of Large Structural Closure

The initial well in this follow-up program at Lawson is being drilled into the apex of the Lawson structure, approximately 2 km from the original discovery, based on a high-resolution 3D seismic survey completed during the spring that outlined a 14.2 sq. km structural closure, above the gas-water contact, within a broader Lawson Complex covering 28 sq. km.

Figure 1: Lawson Complex 3D Seismic Image

Why This Matters to Investors

Commercial validation represents the most important stage in the evolution of the Lawson Discovery.

Following Canada's first confirmed subsurface Natural Hydrogen discovery, high resolution 3D seismic defining a 14.2 sq. km structural closure, and independent modeling by GLJ Ltd., MAX Power is now testing the key technical parameters required before potential commercial development, including flow, pressure behaviour, continuity, concentrations, deliverability, and commercial scalability.

Each milestone is designed to systematically reduce technical risk while increasing commercial confidence. 

If successful, Lawson could become the world's first large-scale commercial Natural Hydrogen system, representing a defining milestone for both MAX Power and the broader global energy industry.

Marketing Agreement

MAX Power announces that it has entered into an addendum (effective July 13, 2026) to its December 29, 2025 agreement with Emerging Markets Consulting, LLC (“EMC”), a Florida-based consulting firm that provides strategic communications and investor awareness support in connection with the dissemination of publicly available corporate information. Pursuant to the addendum, the Company will pay EMC additional non-refundable fees of $400,000 (USD) for corporate information services, payable as to $200,000 upon execution of the addendum and $200,000 within fourteen (14) days thereafter. The addendum constitutes a renewal of the agreement for a successive six-month term commencing July 13, 2026. EMC is arm’s length to the Company, and no securities are issuable to EMC in connection with the engagement. Contact information for Emerging Markets Consulting, LLC: 390 North Orange Avenue, Suite 2300, Orlando, FL, 32801; Principal (CEO): James Painter.

Options Grant

The Company announces that it has granted incentive stock options to certain directors, officers, and consultants to purchase up to an aggregate of 5,235,000 common shares in the Company pursuant to the Company’s Omnibus Equity Incentive plan (the “Omnibus Plan”). The options are exercisable for a period of three years at a price of $2.10 per share. The options, and any underlying common shares issued on exercise thereof, will have a hold period expiring November 11, 2026, in accordance with the policies of the Canadian Securities Exchange and applicable securities laws. The Options shall also be subject to vesting terms as determined by the Company pursuant to the terms of the Omnibus Plan.

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About MAX Power

MAX Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The Company’s Lawson Discovery near Central Butte, Saskatchewan, represents Canada’s first-ever subsurface Natural Hydrogen system confirmed through deep drilling with data validated by three independent labs. MAX Power has built dominant district-scale land positions across Saskatchewan with approximately 1.3 million acres (521,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of Natural Hydrogen, and is nearing the start of a multi-well follow-up drill program to validate the commerciality of the broader Lawson Complex interpreted to cover a 28 sq. km area along the 475-km Genesis Trend. MAX Power also holds a significant equity position in Homeland Critical Minerals which now owns the Willcox Project in Arizona, a lithium discovery confirmed in early 2024 by MAX Power. MAX Power is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance.

On behalf of the Board of Directors,

Ran Narayanasamy, CEO
MAX Power Mining Corp.
info@maxpowermining.com

For further information, please contact:

Chad Levesque, President
Ph: 1-306-981-4753
chad@maxpowermining.com

Media Contact:

Sarah Mawji, Venture Strategies
sarah@venturestrategies.com

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements and forward-looking information (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is often identified by words such as "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "plan", "potential", "predict", "project", "should", "will" and similar expressions.

Forward-looking information is based on management's current expectations, estimates, projections and assumptions, including, among other things, that required regulatory approvals will be obtained, financing will be available on acceptable terms, planned exploration, appraisal and development activities will proceed as anticipated, equipment and personnel will be available as required, geological interpretations and technical results will support further advancement of the Company's projects, and market conditions will remain favourable.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, without limitation, risks relating to exploration and development activities, geological and technical uncertainties, commercialization of Natural Hydrogen, reservoir performance, infrastructure availability, strategic partnership opportunities, market acceptance, commodity and energy prices, access to capital, regulatory approvals, environmental and permitting requirements, and general economic, market and business conditions.

There can be no assurance that the Company's plans, expectations or objectives will be achieved. Readers are cautioned not to place undue reliance on forward-looking information. Forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update or revise any forward-looking information, whether due to new information, future events or otherwise, except as required by applicable securities laws.

Additional information regarding the Company and the risks and uncertainties affecting its business and operations is available under the Company's profile on SEDAR+ at www.sedarplus.ca.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.