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STRATEGIC METALS AND GOLD EXPLORER
COPPER, SILVER, & GOLD
OTC: MXROF COLOMBIA & PERU
FRANKFURT: M1D2 October 19, 2021
www.maxresource.com
DISCLAIMER
This presentation (the “Presentation”) has been prepared solely for information purposes in connection with the contemplated issue of shares in “MXR” or the “Company”) and is being
furnished by MXR to a limited number of parties (the “Recipients”) who have a potential interest in subscribing for shares in the Company.
The Presentation is strictly confidential and any disclosure, use, copying and circulation of this Presentation is prohibited without the consent of the Company.
The information contained in this Presentation does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for or purchase the securities
discussed herein in any jurisdiction. Neither this Presentation nor any part of it shall form the basis of, or be relied upon in connection with any offer, or act as an inducement to enter into
any contract or commitment whatsoever. No representation or warranty is given, express or implied, as to the accuracy of the information contained in this Presentation.
This Presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates.
Forward-looking statements concern future circumstances and results and other statements that are not historical facts. The forward-looking statements, contained in this Presentation,
including assumptions, opinions and views of the Company or cited from third party sources are solely opinions and forecasts which are uncertain and subject to risks. A multitude of
factors can cause actual events to differ significantly from any anticipated development. Neither the Company nor any such person’s, officers or employees guarantee that the
assumptions underlying such forward-looking statements are free from errors and omissions nor do any of them accept any responsibility for the future accuracy of the opinions
expressed in this Presentation or the actual occurrence of the forecasted developments.
The information contained herein has been prepared to assist the Recipients in making their own evaluation on the Company and does not purport to contain all information that they
may desire. In all cases, the Recipients should conduct their own investigation and analysis of the Company, its business, prospects, results of operations and financial condition as well
as any other information the Recipients may deem relevant.
The Company does not make any representation or warranty, express or implied, as to the accuracy or completeness of this Presentation or of the information contained herein and shall
have no liability for the information contained in, or any omissions from, this Presentation, nor for any of the written, electronic or oral communications transmitted to the Recipients
(including without limitation its directors, employees, representatives and advisors).
Neither the receipt of this Presentation by any Recipients, nor any information contained herein or supplied herewith or subsequently communicated in written, electronic or oral form to
any person in connection with the contemplated issue of shares in the Company constitutes, or shall be relied upon as constituting, the giving of investment advice to any such person.
Each person should make their own independent assessment of the merits of investing in the Company and should consult their own professional advisors. By receiving this Presentation
you acknowledge and agree that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own
analysis and are solely responsible for forming your own opinion of the potential future performance of the Company’s business.
MXR cautions potential subscribers the presence of sedimentary copper mineralization in the Zambian Copper Belt is not necessarily indicative of similar mineralization on the MXR
applications and licenses.
2 | TSXV: MXR
Management & Industry Team
Brett Matich Piotr Lutynski Dr. Chris Grainger
CEO & President Head Exploration Colombian Expert
M.Eng Aff.M.Asce M.Sc, & P.Eng PHD, P.Geo
⋅ CEO of ASX, TSX.V, AIM ⋅ 35 years South America and ⋅ 20 years expertise in South America
⋅ Aztec Resources $300M Merger Poland ⋅ Continental Gold; Newmont; VALE
⋅ Cape Lambert $380M Buyout ⋅ Kupferschiefer Style Geologist ⋅ Resides in Medellin, Colombia
⋅ Lumina Capital
Rahim Lakha University of Science (AGH) Geológica Universidad Colombia
Strategic Advisor Krakow, Poland Drill Core - Seismic data
⋅ 25 years in global capital markets ⋅ Dr. Adam Piestrzyński ⋅ Structural Study with MAX
⋅ $5B in transactions ⋅ Kupferschiefer Expert ⋅ Colombian National Mining (ANM)
⋅ Global Mining Advisor ⋅ Geochemistry and Mineralogy
⋅ AGH presentation on
www.maxresources.com
3 | TSXV: MXR
Capital Structure
Basic Shares Out 97,604,099 Warrants Exercise Expiry Options Exercise Expiry
Options 5,075,000 14,784,151 $0.40 Oct 22, 2021 1,550,000 $0.15 Jan 3, 2025
Warrants 19,746,878 2,887,727 $0.10 Dec 30, 2021 2,450,000 $0.21 Aug 24, 2025
Market Cap $20m 537,500 $0.10 May 1, 2022 1,000,000 $0.40 Aug 24, 2025
Cash $3m 895,833 $0.45 Jan 17, 2023
75,000 $3.60 March 20, 2024
In the money warrants and $1m
options 641,667 $0.72 Feb 6, 2023
* As: 08.31.2021
OWNERSHIP
12% MANAGEMENT
HNW
38%
24%
INSTITUTIONS
RETAIL
18%
4 | TSXV: MXR
A Boon For Copper
⋅ The price of copper continues to rise, reaching an all time high of US $10,553 per/ton on October 18, 2021,
driven by the insatiable demands of the green revolution, in combination with the ever-depleting copper reserve
base
⋅ Bloomberg reports, “The copper market is so tight that spot contracts traded at the biggest premium over futures
in at least 27 years in London” on October 18, 2021
⋅ Trafigura sees green copper super cycle driving prices to US $15,000 per/ton
Source: Trafigura sees green copper supercycle driving prices to $15,000 by Bloomberg News, March 23, 2021
Source: Barrons, Thedailygold.com, Incrementum AG – BGMI bull markets, Indexed, 100 = start of bull market cycle 1942 to 02/2021
5 | TSXV: MXR
Investment Highlights
CESAR Copper-Silver in Colombia
⋅ Historic Drilling – 200-km District Scale
⋅ Highlight values of 34.0% copper and 205.0 g/t silver
⋅ Two new high-grade copper discoveries in 2021
⋅ Colombia Expert and in-country teams
⋅ Sustainable community relationships
⋅ Colombia the country ranked as #1 in South America for investment
attractiveness by the Fraser Institute in 2020
RT Gold in Peru
⋅ 2 Distinct High-Grade Gold Systems 3-km apart
⋅ Values ranged 3.0 to 118.0 g/t gold over core lengths from 2.2 to 36.0m
Third-Party Validation
⋅ TSX Venture 50™ for 2021, Max ranked top 10 in the mining sector
⋅ Collaboration agreement with Global copper producer Global
⋅ Vetted by Kupferschiefer Experts (AGH)
⋅ Working in collaboration with the National Colombian school of mines
6 | TSXV: MXR
Colombia Ranked #1 MAJORS IN COLOMBIA
7 | TSXV: MXR
CESAR Location: Major Mining Operators
8 | TSXV: MXR
CESAR Copper-Silver Basin in NE Colombia
9 | TSXV: MXR
CESAR Analogous to both Kupferschiefer and Central African Copper Belt
• Max interprets the sediment-hosted stratabound
copper-silver mineralization in the Cesar basin to
be analogous to both the Central African Copper
Belt (CACB) to the south and the Polish
Kupferschiefer to the north. Almost 50% of the
copper known to exist in sediment-hosted deposits
is contained in the CACB, including Ivanhoe Mines
Ltd (TSX: IVN) 95-billion-pound Kamoa-Kakula
copper deposits in the Congo
• Kupferschiefer, the world’s largest silver producer
and Europe’s largest copper source, mining an
orebody ranging from 0.5 to 5.5m thick at depths of
500m, grading 1.49% copper and 48.6 g/t silver.
The silver yield is almost twice the production of
the world’s second largest silver mine
Source: Central African Belt Descriptive models, grade-tonnage relations, and databases for the assessment of sediment-hosted copper deposits with emphasis on deposits in the Central Africa Copperbelt, DRC and
Zambia by USGS 2010. Kamoa-Kakula by OreWin March 2020. World Silver Survey 2020 and Kupferschiefer Deposits & Prospects in SW Poland, September 27, 2019. Max cautions investors that the presence of
copper mineralization of the Central African Copper Belt and the Polish Kupferschiefer are not necessarily indicative of similar mineralization at CESAR.
10 | TSXV: MXRCESAR North 90-km Copper-Silver Belt
AMS Copper-Silver Discovery
January 2020, (previously AM South) zone; first CESAR stratabound discovery,
expanded to 16-km², and open along strike and down dip. Highlights of 5.8%
copper and 106 g/t silver from 0.5 to 25.0m
AMN Copper-Silver Discovery
March 2020, located 40-km north of AMS, the AMN (previously named AM North)
zone, expanded to 29-km², open in all directions. Highlights of 34.4% copper and
230 g/t silver over continuous intervals ranging 0.5 to 25.0m
CONEJO Copper-Silver Discovery
March 2021, Max reported the CONEJO discovery, spanning over 3.2-km by 1.6-km
and open in all directions. Highlights values of 12.5% copper and 120 g/t silver from
panels varying over 5.0m: ASSAYS PENDING
URU Copper Discovery – Major-Scale
April 2021, lying along CESAR North; now expanded to 48-km² and open in all
directions, major-scale potential. Highlight values of 14.8 % copper and 132 g/t
silver: ASSAYS PENDING
SP Copper-Silver Target
September 2021, reconnaissance composite grab sampling over 25.0m averaging
4.8% copper and 51 g/t silver* is considered very significant
*Max cautions investors that rock panel sampling can be selective and are not necessarily representative of the mineralization.
11 | TSXV: MXRCESAR NORTH AMS First Discovery, January 2020
⋅ AMS: occurs on trend 40-km SSW of the AMN Discovery (March, 2020)
⋅ Significant Size: 16-km² of continuous copper-silver mineralization, open along strike and down dip
⋅ Grades: highlights of 5.8% copper and 106.0 g/t silver from 0.5 to 25.0m intervals
12 | TSXV: MXRCESAR NORTH AMN Discovery, March 2020
5.8% copper + 51 g/t silver over 25.0m*
⋅ ANM lies within the 80-km long CESAR North target zone, 5.2% copper + 58 g/t silver over 25.0m*
consists of Kupferschiefer-type copper-silver mineralization 3.3% copper + 32 g/t silver over 25.0m*
spanning over 29-km² 2.4% copper + 23 g/t silver over 25.0m*
⋅ Highlight values of 1.0 to 34.4% copper and 5.0 to 305.0 g/t 0.9% copper + 7 g/t silver over 25.0m*
silver over continuous intervals ranging 0.5 to 25.0m 0.5% copper + 5 g/t silver over 25.0m*
3.0% copper + 29 g/t silver along 250.0m (25.0m intervals as above)
Creeks cut through mineralization Persistent grades: 3.0% copper + 29 g/t silver along 250.0m
*MAX cautions investors composite representative rock grab sampling can be selective 13 | TSXV: MXRCESAR NORTH AMN - Analogous to Kupferschiefer
14 | TSXV: MXRCESAR NORTH AMN (Ventana)
7.2% copper + 65 g/t silver over 2.0m channel
15 | TSXV: MXRCESAR NORTH SP Target, September 2021
Copper Silver Width Sample #
4.8% 51 g/t 25.0m 876502
1.0% 6 g/t 25.0m 876509
6.3% 47 g/t 0.5m 867233
12.4% 162 g/t float 876130
*Max cautions investors that rock panel sampling can be selective and are not necessarily representative of the mineralization. 16 | TSXV: MXRCESAR NORTH CONEJO Discovery, March 2021
⋅ CONEJO spans 3.2 by 1.9-kilometre zone, open in all directions; located within the CESAR North target zone
⋅ 22 rock panel samples returned above 5.0% copper varying from 5.0m by 5.0m to 1.0m by 1.0m;
⋅ Overall, 44 returned values over 3.0% copper, 55 returned over 2.0% copper, 21 returned over 30 g/t silver
with intervals ranging from 0.3 to 20.0m: ASSAYS PENDING
Highlight assays greater than 6% copper
⋅ 12.5% copper + 84 g/t silver, 5.0m x 5.0m
⋅ 10.7% copper + 52 g/t silver, 1.0m x 1.0m
⋅ 10.5% copper + 50 g/t silver, 3.0m x 2.0m
⋅ 10.4% copper + 95 g/t silver, 5.0m x 5.0m
⋅ 10.2% copper + 62 g/t silver, 5.0m x 5.0m
⋅ 10.0% copper + 80 g/t silver, 5.0m x 5.0m
⋅ 9.0% copper + 68 g/t silver, 1.0m x 1.0m
⋅ 8.9% copper + 66 g/t silver, 1.0m x 1.0m
⋅ 8.7% copper + 89 g/t silver, 5.0m x 5.0m
⋅ 8.4% copper + 60 g/t silver, 5.0m x 5.0m
⋅ 7.9% copper + 21 g/t silver, 5.0m x 5.0m
⋅ 7.7% copper + 84 g/t silver, 5.0m x 5.0m
⋅ 7.4% copper + 47 g/t silver, 5.0m x 5.0m
⋅ 7.3% copper + 80 g/t silver, 3.0m x 3.0m
⋅ 7.0% copper + 45 g/t silver, 5.0m x 5.0m
17 | TSXV: MXRCESAR NORTH CONEJO High-Grade Discovery
CONEJO is a new high-grade copper-silver
discovery, lying mid-way along the 80-km long
CESAR North zone
CONEJO continues the pattern of new copper-silver
outcrop discoveries, potentially stand-alone deposit
NEXT STEP: Systematic mapping of the rock bearing
mineralization to outline surface extent and grades;
orientation and delineate drilling targets
ASSAYS PENDING
18 | TSXV: MXRCESAR NORTH URU Major Discovery, April 2021
Mineralization at URU is open along strike and down dip.
Widths from 10.0 to 25.0m, 12 returned over 2.0% copper
highlight of 5.7 % copper and 37 g/t silver
Highlight URU Zone Assay Results:
∙ 4.3% copper and 8 g/t silver over widths of 10.0m
∙ 3.9% copper and 7 g/t silver over widths of 10.0m
∙ 3.6% copper and 12 g/t silver over widths of 10.0m
∙ 3.0% copper and 37 g/t silver over widths of 10.0m
∙ 3.0% copper and 6 g/t silver over widths of 10.0m
∙ 2.7% copper and 1 g/t silver over widths of 25.0m
∙ 2.2% copper and 9 g/t silver over widths of 25.0m
19 | TSXV: MXRCESAR NORTH URU Major Expansion to 48-km² , October 2021
URU’s continuous copper-silver mineralization now
spans over 48-km², extending along strike over 12-km
and down dip over 4-km from the elevation of 1200m
down to 410m, and is open along strike and down dip
Latest Highlights
• 14.8% copper and 132 g/t silver over 1.5m x 0.8m
• 6.5% copper and 6 g/t silver over widths of 1.0m
• 5.6% copper and 87 g/t silver over 1.0m by 1.0m
• 4.0% copper and 42 g/t silver over 1.0m by 1.0m
• 3.7% copper and 14 g/t silver over widths of 5.0m
• 2.9% copper and 7 g/t silver over widths of 5.0m
• 2.1% copper and 3 g/t silver over widths of 10.0m
• 2.0% copper and 20 g/t outcrop over widths of 10.0m
ASSAYS PENDING
20 | TSXV: MXRCESAR Third-Party Validation
Professor Adam Piestrzyński of AGH, Kupferschiefer Expert stated:
“Similarities: basin characteristics, lithology, mineralogy, grades”
“Difference: Kupferschiefer orebody starts at 500m below surface, CESAR copper-
silver mineralization starts at surface”
“CESAR Potential: this new discovery could lead to the discovery of several major
copper-silver occurrences, similar in size and nature to Kupferschiefer in Poland“
Collaboration agreement with world leading copper producer under CA
Working in collaboration with the National Columbian school of mines
Max achieved Top 10 Ranked Company in the Mining Sector on the TSX Venture
50™ for 2021, achieving a market cap increase of 1,992% and a share price increase
of 282% in 2020
21 | TSXV: MXRRT GOLD in PERU World-Class Mineral Belt
⋅ Exclusive rights to acquire 100% of RT Gold, located 760-km NW of Lima, Peru
⋅ CERRO, a bulk tonnage gold-bearing porphyry, and 3-km to the NW;
⋅ TABLON, a high-grade gold-bearing massive sulfide.
22 | TSXV: MXRRT GOLD
CERRO ZONE Targeting Multi Mozs
CERRO ZONE: high-grade gold porphyry
⋅ 2.0-km by 1.5-km gold rich zone, open in
all directions
⋅ Values range 0.1 to 4.0 g/t gold
⋅ 0.1 to 62.9 g/t gold structures
⋅ 3.3 g/t gold over 25.5m continuous
channel
⋅ Strong IP response is coincident to gold
anomaly
⋅ CERRO mapping adits/expand zone
⋅ Field investigation and drilling permitting
Source: NI 43:101 Geological Report Rio Tabaconas Gold Project for Golden Alliance Resources Corp. by George Sivertz, Oct.3, 2011 23 | TSXV: MXRRT GOLD
TABLON ZONE Historic High-grades
⋅ TABLON, 33 holes in 2001 over a 600.0m by
200m open in all directions
⋅ High-grade gold values ranged 3.1 to 118.1 g/t
gold over core lengths ranging from 2.2 to
36.0m
⋅ RT-29 returned highlight metallics value of
186.0 g/t gold over 2.2m from 42.0m indicating
presence of coarse gold
NEXT STEP: 1,600m of historic drill core -
ASSAYS PENDING
Field investigations
24 | TSXV: MXRTABLE 2
RT GOLD DDH Number From (m) To (m) Length Gold g/t F. Assay
RT-1 13.50 15.00 1.50 1.16
TABLON ZONE 2001 Diamond Drilling and
RT-2
RT-3
24.00
39.50
62.18
25.50
39.94
62.85
1.50
0.44
0.67
4.59
44.05
49.99
and 105.76 106.10 0.34 54.89
RT-4 7.85 11.90 4.05 2.23
and 18.02 20.29 2.27 2.67
TABLE 1 and 26.29 28.42 2.13 2.61
RT-6 9.07 30.48 21.41 3.10
UTM E UTM N Elevation Azimuth Dip Length including 9.07 15.24 6.17 5.48
DDH Number DATUM Garmin 12 Garmin 12 North is Horizontal is Measured RT-7 10.08 30.00 19.92 2.41
PSAD 56 GPS Data GPS Data 360° 0° From collar including 10.08 12.55 2.47 4.55
RT-1 706462 9418622 1918m 355 -45 126.19m and 25.53 25.91 0.38 7.44
RT-2 706448 9418611 1916m 355 -45 57.92m RT-11 12.01 29.10 17.09 5.32
RT-3 706479 9418667 1955m 340 -45 142.65m including 15.54 18.20 2.66 14.20
RT-4 706436 9418644 1948m 147 -75 33.54m RT-12 17.41 21.76 4.35 4.71
RT-6 706436 9418644 1948m 127 -75 42.68m RT-13 13.41 38.83 25.42 8.78
RT-7 706436 9418644 1948m 115 -66 31.71m including 19.85 22.75 2.90 19.81
RT-11 706434 9418684 1985m 310 -45 34.75m including 31.21 38.83 7.62 12.61
RT-12 706434 9418684 1985m 310 -65 35.67m including 33.72 34.72 1.00 28.24
RT-13 706434 9418684 1985m 280 -45 41.76m RT-14 17.68 19.36 1.68 5.47
RT-14 706434 9418684 1985m 280 -65 40.24m RT-15 12.80 19.20 6.40 5.85
RT-15 706434 9418684 1985m 344 -50 30.79m RT-16 16.17 20.07 3.90 13.18
RT-16 706410 9418661 1976m 310 -45 25.91m RT-21 1.52 10.97 9.45 5.08
RT-21 706384 9418645 1976m - -90 24.4m RT-22 8.45 9.50 1.05 2.58
RT-22 706353 9418697 2016m 155 -45 69.21m and 31.39 33.80 2.40 3.21
RT-25 706144 9418499 2016m 310 -45 39.94m and 40.75 54.86 14.11 4.85
RT-26 706144 9418499 2016m 330 -45 33.53m RT-25 33.00 36.1 3.1 12.97
RT-27 706144 9418518 2026m 215 -45 45.73m including 33.00 34.00 1.00 33.30
RT-28 706397 9418691 1999m - -90 36.28m RT-26 0.00 6.00 6.00 6.95
RT-29 706397 9418691 1999m 180 -60 80.8m including 1.00 2.00 1.00 17.37
and 12.02 13.00 0.98 2.80
and 17.00 18.00 1.00 2.98
RT-27 9.76 12.00 2.24 1.49
and 26.00 27.00 1.00 1.43
Table 1. Diamond Drill Hole (DDH) locations RT-28 1.52 10.54 9.02 1.93
Table 2. Diamond Drill Hole (DDH) intersections and gold fire assay results. and
including
18.35
23.34
28.10
25.71
9.75
2.37
2.21
5.99
RT-29 1.20 8.00 6.80 2.75
Source: NI 43:101 Geological Report Rio Tabaconas Gold Project for Golden Alliance Resources Corp. by George Sivertz, Oct.3, 2011. and 34.85 51.25 16.40 17.99
Intervals are core lengths not true widths, which are unknown at this time including 42.00 44.15 2.15 118.10
25 | TSXV: MXRSuccessful Milestones Lead To Exciting Future
2020 Q1
⋅ 2nd CESAR North Discovery 40-km
north: AMN 34% copper; 305 g/t silver
NEXT
Q2
⋅ Collaboration Agreement with AGH ⋅ Historical drill core RT Gold – ASSAYS PENDING
University, Poland ⋅ Ongoing exploration URU, CONEJO, SP
⋅ ASSAYS PENDING
Q3 ⋅ Approval URU mineral concessions
⋅ Financing at 10.5 cents
⋅ URU drill permits
Q4 ⋅ Demonstrate CESAR to be copper-silver district
⋅ Financing at 24 cents with Eric Sprott
⋅ CESAR West: Newly discovered 180-km copper belt ⋅ Additional CESAR Discoveries
⋅ Acquisition of RT Gold in Peru
2019 2021 Q1
Q2 ⋅ Confirmation of copper mineralization in drill core at 400.0m depth
Acquisition of CESAR ⋅ Awarded TSXV Top 50
Copper-Silver in NE Colombia ⋅ 3rd CESAR North Discovery: Conejo 12.5% copper: 120 g/t silver
Q2
Q4 ⋅ 4th CESAR North, URU Discovery, spans over 12-km²
⋅ 1st Copper-Silver discovery at CESAR North: ⋅ 5th CESAR North, SP Copper Occurrence
AMS 5.8% copper: 108- g/t silver 0.5 to 25m ⋅ CESAR North expands to 90-km of strike
⋅ Financing at 5.5 cents
Q3
⋅ CESAR North, URU now expands to over 48-km²
26 | TSXV: MXRMAX RESOURCE
STRATEGIC METALS AND GOLD EXPLORER
Well-funded yet upside unrecognized
✔Cash $3m, a mispriced story with market cap of $20m
Large-scale exploration copper-silver and gold exploration projects
✔Expertise: Managed and advised by established and proven team with in-country geologists
✔External Validation: Collaborating with a worlding leading copper producer and industry team
✔Internationally recognized: CESAR has very similar characteristics as the Kupferschiefer, worlds
#6 copper + #1 silver
✔World class infrastructure: at CESAR with presence of global majors: BHP Billiton, Xstrata, Anglo
American, Chevron
✔RT Gold: located along a prolific gold producing belt, encompasses two distinct high-grade gold
zones
Next Steps for 2021
CESAR Copper-Silver: Analysis of 1,000’s of metres of historical drill core and structural modelling;
⋅ Expand the URU 48-km² zone, potentially represents a zone of major proportions compared to the
world class Kupferschiefer and the Central African Belt: approval of URU claims and drill permits
⋅ On-going exploration at the other four zones (CONEJO, SP, AMN, AMS) within the CESAR North 80-
kilometre-long-copper-silver belt of significant regional potential: ASSAYS PENDING
RT Gold: ASSAYS PENDING for 1,600-metres of drill core and first site visit in 10 years
27 | TSXV: MXR28 | TSXV: MXR
Rahim Lakha, Strategic Advisor
Cell: (+1) 416 414 9954
Email: rahim@bluesailcapital.com
Tim McNulty, Investor Relations
Cell: (+1) 604 290 8100
Email: info@maxresource.com
1188 – 1095 West Pender Street,
Vancouver, BC, V6E 2M6, Canada
www.maxresource.com
OTC: MXROF
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