MAX Power Mining Shareholders Overwhelmingly Approve Eric Sprott as Control Person

MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) announced that its disinterested shareholders overwhelmingly approved a resolution to create Eric Sprott as a control person of the company at a special meeting held on Aug. 20, 2026. The resolution passed with more than 99.92% of votes cast in favor, granting Sprott greater flexibility to increase his ownership position in MAX Power. This approval is a significant endorsement of the company's strategic direction and its pioneering efforts in the natural hydrogen and critical minerals sectors.

Eric Sprott, a prominent Canadian investor known for his focus on the resource sector, currently indirectly owns and controls 34,984,979 common shares and 28,638,548 common share purchase warrants. This represents approximately 19.5% of MAX Power's outstanding shares on a non-diluted basis and approximately 30.5% on a partially diluted basis, assuming exercise of the warrants. The new control person status allows Sprott to potentially increase his stake without triggering certain regulatory constraints, aligning his interests more closely with the company's long-term growth prospects.

MAX Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The company's flagship project, the Lawson Discovery near Central Butte, Saskatchewan, is Canada's first-ever subsurface Natural Hydrogen system confirmed through deep drilling, with data validated by three independent labs. This groundbreaking discovery positions MAX Power at the forefront of the emerging natural hydrogen industry, which has the potential to provide a clean, abundant energy source.

The company 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 package provides MAX Power with significant leverage to explore and develop this promising resource. In addition to its natural hydrogen assets, MAX Power holds a portfolio of properties in the United States and Canada focused on critical minerals. These include the Willcox Playa Lithium Project in southeast Arizona, where a 2024 diamond drilling discovery highlighted the project's potential. The project is 100%-owned by MAX Power's U.S. subsidiary, further diversifying the company's asset base.

The approval of Eric Sprott as a control person is a strong signal of confidence in MAX Power's management and its projects. Sprott's track record of investing in successful resource companies adds credibility and may attract additional institutional interest. The move also provides the company with a stable, long-term shareholder base, which could be beneficial as it advances its exploration and development activities.

MAX Power remains committed to responsible exploration and development practices that prioritize environmental stewardship, meaningful community engagement, and strong corporate governance. With the support of investors like Eric Sprott, the company is well-positioned to capitalize on the growing demand for clean energy solutions and critical minerals essential for the energy transition.

For more information on MAX Power and its projects, visit the company's newsroom at https://ibn.fm/MAXXF. The full press release can be accessed at https://ibn.fm/7P7D5.