VANCOUVER, Canada (January 26, 2023) – MAX Power Mining Corp. (CSE: MAXX) (“MAX Power”
or the “Company”) has launched a North American-focused lithium strategy with the acquisition of
nearly 100 sq. km of claims in proximity to the prolific CV Lithium Trend and Patriot Battery Metals’
(PMET’s) Corvette lithium discovery in the James Bay District of Quebec.
Highlights of the acquisition include:
- MAX Power has purchased a 100% interest in two under-explored large claim blocks (Corvette
Lake North and Corvette Lake South) in proximity to PMET’s Corvette Property as shown in
- Historical reports, government data and very recent reconnaissance have documented pegmatite
occurrences on Corvette Lake North, just 5 km south of PMET’s CV5 pegmatite discovery where
recent drilling returned 156.9 meters at 2.12% Li 2 O (drill hole CV22-083) as reported by PMET
January 20, 2023;
- A large prospective area spanning 9,709 hectares over 189 mineral claims;
- Armed with over $4 million in cash and a favorable share structure, MAX Power is preparing a
two-phase 2023 exploration program at its Corvette Camp properties with details to be announced
- MAX Power continues to evaluate other potential opportunities in the Lithium sector.
Mr. Rav Mlait, MAX Power CEO, commented: "This important acquisition on favorable terms is a first
major step for MAX Power as it positions itself in the rapidly expanding lithium sector. ‘Lithium to the
MAX’ is our motto as we build out a dynamic lithium brand focused on Canada and the United States.”
Property Location Map and Bedrock Geology
The properties are both situated along the shores of Corvette Lake and located in the La Grande
geological sub-province. The rocks are generally Archaean in age. The MAX Power claims are underlain
by 20km of strike length of underexplored intrusive and sedimentary rocks. Corvette North has seen
minor historical mineral exploration, primarily for gold. Historical reports and government data document
pegmatite occurrences on Corvette North. This same historical work suggests pegmatites can occur within
a variety of rock types.
Management cautions that mineralization hosted on adjacent and/or nearby properties is not necessarily
indicative of mineralization hosted on MAX Power’s properties.
Figure 1: Property Location of MAX Power’s James Bay Lithium Projects
The Company entered into a purchase and sale agreement (“Agreement”) for 100% of 189 mineral
claims from Canadian Li Inc. (the “Vendor”) for consideration of 3,500,000 common shares (the
“Consideration Shares”) of the Company and issue 1,000,000 warrants (“Consideration Warrants”).
The Consideration Warrants will be exercisable at $0.85 for a period of 36 months from the date of
issuance. Furthermore, the Agreement stipulates that the Vendor will be issued the Consideration Shares
under the following schedule: (a) At Closing Date, 1,500,000 Consideration Shares will be delivered to
the Vendor from Max Power with the statutory required 4 month hold period; (b) 1,000,000
Consideration Shares will be available for free trading 6 months from the Closing Date; and (c) 1,000,000
Consideration Shares will be available for free trading 12 months from the Closing Date. All common
shares issued in connection with the Agreement are subject to a four month hold period under applicable
Canadian securities laws. All terms are subject to the approval of the Canadian Securities Exchange
The technical information in this news release has been reviewed and approved by Thomas Clarke,
P.Geo., Pr. Sci.Nat, and Director for MAX Power Mining Corp. Mr. Clarke is the Qualified Person
responsible for the scientific and technical information contained herein under National Instrument 43-
About MAX Power
MAX Power is a dynamic exploration stage resource company targeting domestic lithium resources to
advance North America’s renewable energy prospects.
MarketSmart Communications at 877-261-4466.
Forward-Looking Statement Cautions
This press release contains certain “forward-looking statements” within the meaning of Canadian
securities legislation, relating to exploration, drilling, mineralization and historical results on the
Properties; the interpretation of drilling and assay results, the initiation of and the results thereby of any
future drilling program, mineralization and the discovery mineralization (if any); plans for future
exploration and drilling and the timing of same; the merits of the Properties and the James Bay region,
generally; the potential for lithium within the Properties; commentary as it related to the opportune timing
to explore lithium exploration and any anticipated increasing demand for lithium; any results and updates
thereto as it relates to the USGS report; the Company’s concentration hypothesis; closing of the
transaction; future press releases by the Company; funding of any future drilling program; regulatory
approval, including but not limited to the CSE. Although the Company believes that such statements are
reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking
statements are statements that are not historical facts; they are generally, but not always, identified by the
words "expects," "plans," "anticipates," "believes," “interpreted,” "intends," "estimates," "projects,"
"aims," “suggests,” “often,” “target,” “future,” “likely,” “pending,” "potential," "goal," "objective,"
"prospective," “possibly,” “preliminary”, and similar expressions, or that events or conditions "will,"
"would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to
future events. The Company cautions that forward-looking statements are based on the beliefs, estimates
and opinions of the Company's management on the date the statements are made, and they involve a
number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove
to be accurate and actual results and future events could differ materially from those anticipated in such
statements. Except to the extent required by applicable securities laws and the policies of the CSE, the
Company undertakes no obligation to update these forward-looking statements if management's beliefs,
estimates or opinions, or other factors, should change. Factors that could cause future results to differ
materially from those anticipated in these forward-looking statements include risks associated with possible
accidents and other risks associated with mineral exploration operations, the risk that the Company will
encounter unanticipated geological factors, risks associated with the interpretation of assay results and the
drilling program, the possibility that the Company may not be able to secure permitting and other
governmental clearances necessary to carry out the Company's exploration plans, the risk that the
Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political
uncertainties and regulatory or legal changes that might interfere with the Company's business and
prospects. The reader is urged to refer to the Company's Management’s Discussion and Analysis, publicly
available through the Canadian Securities Administrators' System for Electronic Document Analysis and
Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their