VANCOUVER, Canada (June 21, 2023) – MAX Power Mining Corp. (CSE: MAXX; OTC: MAXXF; FRANKFURT: 89N) (“MAX Power” or the “Company”) is pleased to report the commencement of a high resolution heliborne magnetic and radiometric survey over the Corvette Lake North and Corvette Lake South properties to help identify prospective lithium hosting pegmatite targets. Prospectair Geosurveys of Gatineau, Quebec, is carrying out the airborne surveys. Prospectair & operations are not currently impacted by forest fire access restrictions that are currently in the area. The heliborne magnetic and radiometric survey will acquire detailed information over the properties, using 50-metre line spacing covering a total of 2,257-line kilometres. The tight line spacing is an important factor in interpreting structures and rock formations, especially where rocks are not outcropping.
The data will be analyzed and interpreted by GroundTruth Exploration’s geophysics experts. Areas with prospective targets will have 3D inversion modelled to better define the local structure. MAX Power has also entered into a contract with Axiom Exploration Group Ltd. for its 2023 field summer exploration program that will consist of prospecting for LCT-type (Lithium-Cesium-Tantalum) mineralized pegmatites and soil sampling over identified magnetic and radiometric targets/anomalies with limited outcrop exposure. The Company will update investors when the summer field exploration has officially commenced.
The Corvette North Property is situated in an intriguing structural setting between two major intrusive complexes highlighted by the Langelier and Moyen plutons, as described in Quebec report RG 2020-01 (Géologie de la region du lac de la Corvette, Eeyou Istchee Baie-James). One part of the Corvette North claims is found in structural Domain IV (as described in the report) while some of the remaining claims are situated in Domain III, the same structural domain that hosts the area’s CV5 and CV8 pegmatite discoveries.
The immediate region between the Langelier and Moyen plutons could produce interesting exploration potential due to the focusing of stresses and possible pegmatite intrusion emplacements. Virginia Mines worked in the Corvette North claims area for several years and conducted gold exploration campaigns discovering numerous gold occurrences in the Corvette Greenstone Belt situated in Domain V. Domain V is where the majority of the historic Virginia Mines’ Corvette and Eade gold showings occur. There are lithium pegmatite occurrences in this area that will be investigated during MAX Power’s upcoming field program.
Management cautions that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of the presence of similar mineralization or geology on the Company’s properties.
Frankfurt Stock Exchange (FSE) Listing in Germany
The Company’s shares are now trading on the Frankfurt Stock Exchange (“FSE”) under the symbol “89N”
The Frankfurt Stock Exchange (FSE) is one of the world’s largest international trading centers for securities. Operated by the Deutsche Boerse AG, FSE, is the largest of Germany’s seven stock exchanges,
and is responsible for approximately 90 percent of all securities traded in Germany. The FSE facilitates advanced electronic trading, settlement and information systems and enables cross-border trading for international investors.
Rav Mlait, CEO, commented, “We are excited to be listed on the Frankfurt Exchange which is a big step in accelerating the growth of MAX Power by allowing retail and institutional European investors to trade our public equity shares”
The technical information in this news release has been reviewed and approved by Peter Lauder, P.Geo., Member of the Order of Geologists of Quebec and Senior Geologist and Exploration Manager for MAX Power Mining Corp. Mr. Lauder is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About MAX Power
MAX Power is a dynamic exploration stage resource company targeting domestic lithium resources to advance North America’s renewable energy prospects.
Forward-Looking Cautionary Statement
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 Property and the Nunavik 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; 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 potential effects.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this news release.