Mr. Ran Narayanasamy reports

FIRST WELL OF LAWSON COMMERCIAL VALIDATION DRILL PROGRAM - STILL IN PROGRESS - ENCOUNTERS CONTINUOUS NATURAL HYDROGEN READINGS OVER 831 METERS AND HIGHEST READINGS TO DATE IN MAJOR BASEMENT COMPLEX FRACTURE ZONE

Max Power Mining Corp. has provided an update on drilling progress at Lawson 2-24, marking the start of a multiwell commercial validation drill program at Canada's first confirmed natural hydrogen subsurface system near Central Butte, Sask., in the heart of the 475-kilometre Genesis trend.

Highlights:

• Drilling is currently at a measured depth of 2,370 metres, pausing briefly ahead of coring (core No. 2) after encountering a natural-hydrogen-rich fracture zone in the basement complex (highest natural hydrogen readings recorded to date at Lawson by the company's instrumentation attached to drill rig);
• Core No. 1 terminated at 2,340-metre measured depth with 100-per-cent recovery (approximately 63 m) from the Deadwood formation into the basement complex, which started at approximately 2,308-metre measured depth;
• Natural hydrogen readings have been more intense than at the original discovery well (Lawson 15-19 or Lawson 1), located 2.4 km to the northeast, and have been virtually continuous (well above background levels) and gradually increasing since 1,539-metre measured depth in the Upper Devonian (shortly after intermediate casing);
• Basement complex appears to be classic exotic terrane as modelled by Max Power's technical team -- chips recovered from sleeve ends suggest presence of mafic minerals (pyroxene), potassium feldspars, hematite grains and alteration minerals tentatively identified as epidote and serpentinite;
• Helium spikes are more numerous in Lawson 2 compared with Lawson 1, suggesting a higher density of deeper basement fracturing.

Steve Halabura, Max Power chief geoscientist, commented: "We are indeed witnessing natural hydrogen history being made again at Lawson in the heart of Saskatchewan's Genesis trend, which immediately helps derisk our current program. What we're seeing in this first stepout well is extremely exciting. We're in unchartered territory, so it'll be fascinating to see what we encounter as we deepen the well beyond this natural-hydrogen-rich fracture zone at 2,370 metres. Every extra metre sets a new record for total metres cored into the basement complex. A completions program after casing of this well will give us the key metrics around flow, volume and concentrations as we strive toward commerciality at Lawson. With more drilling and much more data to review over the coming days, we eagerly look forward to providing our next update."

Ran Narayanasamy, Max Power chief executive officer, commented: "Saskatchewan is once again demonstrating why it's one of the world's premier resource jurisdictions -- the geology is incredible, and we have the policy framework for natural hydrogen to lead the world in this rapidly emerging new clean energy industry focused on delivering a new primary energy source. There is a quick and predictable path forward in Saskatchewan for the world's first potential large-scale commercialization of natural hydrogen. Congratulations to our dedicated team for building on this unique Canadian discovery at Lawson."

Third party review of results from the Lawson commercial validation drill program by GLJ Ltd. will ensure that Canada's first ever natural hydrogen subsurface system is independently evaluated to the highest industry standards (refer to April 30, 2026, news release).

Why this matters to investors

Every major resource industry reaches a defining moment when it transitions from discovery toward commercial validation.

This well represents that moment for Max Power.

For the first time, the company is testing whether Canada's first confirmed natural hydrogen subsurface discovery can demonstrate the scale, continuity and reservoir characteristics required for commercial development. The combination of continuous elevated natural hydrogen readings over an extended interval, stronger readings than the original discovery well and increasing evidence of a robust basement fracture system continues to strengthen the geological model while expanding the company's understanding of the broader Lawson system.

While commerciality will ultimately be determined through the completion program and subsequent flow, pressure, concentration and reservoir performance testing, every milestone achieved during this program represents another step toward commercial validation. Together, these results are helping define the technical foundation for what could become the world's first large-scale commercial natural hydrogen system and development of a new primary energy source.

Genesis trend

Lawson complex No. 1 represents Canada's first natural hydrogen subsurface system, a 28-square-kilometre area of focus within a broader permitted land package comprising 1,224 square kilometres. Notably, multiple Lawson complexes are possible within the massive underexplored Lawson project (a complex in this context is a specific area of proven discovery).

The permitted Aurora project (628 square kilometres) adjoins the southeastern corner of the Lawson project, striking southeast toward Moose Jaw, and represents what may be another set of complexes with many Lawson look-alike features. Multiple natural hydrogen systems are possible within the Aurora project, similar to the situation at Lawson.

The Lawson-Aurora combination gives Max Power permits covering a contiguous 90-kilometre-long area striking northwest-southeast (1,852 square kilometres). Aurora is favourably situated along a major highway and rail transportation corridor adjacent to heavy industry and emerging artificial intelligence infrastructure. Multiple other permitted projects along Genesis give Max Power a dominating position in Canada's most exciting corridor for natural hydrogen discovery and development.

About Max Power Mining Corp.

Max Power is an innovative mineral and energy exploration company focused on the shift to decarbonization. The company's Lawson discovery near Central Butte, Sask., 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 two million acres (approximately 809,000 hectares) of permits covering prime exploration ground prospective for large-volume accumulations of natural hydrogen, and has commenced a multiwell follow-up drill program to validate the commerciality of the broader Lawson complex interpreted to cover a 28-square-kilometre area along the 475-kilometre Genesis trend. Max Power also holds a significant equity position in Homeland Critical Minerals, which 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.

We seek Safe Harbor.