MAX Power Mining Closes $10 Million Private Placement with Eric Sprott to Advance Natural Hydrogen and Lithium Projects

MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) has closed a strategic non-brokered private placement with Eric Sprott, securing gross proceeds of $10 million. The placement consisted of 4 million units priced at $2.50 each. The company plans to use the net proceeds to advance its commercial validation drill program at the Lawson Complex and for general corporate purposes. This significant capital infusion underscores the growing investor interest in Natural Hydrogen and critical minerals, sectors that are pivotal to the global energy transition.

The investment by Eric Sprott, a prominent mining financier, is a strong endorsement of MAX Power's exploration assets. Following the placement, Sprott indirectly owns and controls approximately 19.5% of MAX Power's common shares on a non-diluted basis, or 30.5% on a partially diluted basis, assuming exercise of his warrants. A special shareholder meeting is scheduled for Aug. 20, 2026, to consider approving Sprott as a control person of the company. This development could potentially influence the company's strategic decisions and governance.

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. Natural Hydrogen, also known as white hydrogen, is generated naturally in the Earth's crust and is considered a promising clean energy source. 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. This extensive land position positions the company as a leader in the emerging Natural Hydrogen sector.

In addition to its Natural Hydrogen projects, MAX Power holds a portfolio of properties in the United States and Canada focused on critical minerals. These properties are highlighted by a 2024 diamond drilling discovery at the Willcox Playa Lithium Project in southeast Arizona, 100%-owned by MAX Power's U.S. subsidiary. Lithium is a critical component in batteries for electric vehicles and energy storage, making it a key mineral for the clean energy transition. The company's diverse portfolio allows it to capitalize on multiple opportunities in the renewable energy and critical minerals markets.

The successful closing of this private placement with Eric Sprott provides MAX Power with the financial resources to accelerate its exploration and development activities. The company is committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance. With the funds secured, MAX Power is well-positioned to advance its projects and contribute to the global shift towards sustainable energy sources.

For more information about MAX Power and its projects, visit the company's newsroom at https://ibn.fm/MAXXF. The full press release is available at https://ibn.fm/vVt2S.