Max Resource Reports Update on the Floralia Iron Ore Property
Max Resource (OTC: MXROF) announced that majority‑owned Max Iron Brazil entered a non‑binding LOI with Bolt Metals for an option to earn 100% of the Florália iron ore property (mineral right 832.022/2018).
Under proposed terms Bolt would pay USD $200,000 to Jaguar Mining on behalf of Max Brazil, maintain property standing, and issue 26,200,000 shares to Max Brazil and 6,094,679 shares to Max Resource over 30 months, subject to due diligence, definitive agreements and approvals.
Max reports its technical team expanded the Florália DSO geological target from 8–12 Mt at 58% Fe to 50–70 Mt at 55–61% Fe and cautions the estimate is conceptual and not yet a defined mineral resource.
Max Resource (OTC: MXROF) ha annunciato che la controllata Max Iron Brazil ha avviato una LOI non vincolante con Bolt Metals per una opzione per guadagnare il 100% della proprietà Florália di minerale di ferro (diritto minerario 832.022/2018).
Sotto i termini proposti Bolt pagherebbe USD $200,000 a Jaguar Mining per conto di Max Brazil, manterrebbe lo status della proprietà e emetterebbe 26,200,000 azioni a Max Brazil e 6,094,679 azioni a Max Resource nell'arco di 30 mesi, soggetto a due diligence, accordi definitivi e approvazioni.
Max riferisce che il suo team tecnico ha ampliato l'obiettivo geologico Florália DSO da 8–12 Mt a 58% Fe a 50–70 Mt a 55–61% Fe e precisa che la stima è concettuale e non ancora una risorsa mineraria definita.
Max Resource (OTC: MXROF) anunció que Max Iron Brazil, de mayoría, ingresó en una LOI no vinculante con Bolt Metals para una opción para obtener el 100% de la propiedad Florália de mineral de hierro (derecho minero 832.022/2018).
Según los términos propuestos Bolt pagaría USD $200,000 a Jaguar Mining en nombre de Max Brazil, mantendría el estatus de la propiedad y emitiría 26,200,000 acciones a Max Brazil y 6,094,679 acciones a Max Resource en un plazo de 30 meses, sujeto a due diligence, acuerdos definitivos y aprobaciones.
Max informa que su equipo técnico amplió el objetivo geológico Florália DSO de 8–12 Mt a 58% Fe a 50–70 Mt a 55–61% Fe y advierte que la estimación es conceptual y aún no es un recurso minero definido.
Max Resource (OTC: MXROF)가 대다수 지분을 보유한 Max Iron Brazil이 Bolt Metals와 비-binding LOI를 체결했다고 발표했습니다. Florália 철광석 매장지의 100%를 얻기 위한 옵션에 관한 것입니다(광권 832.022/2018).
제안된 조건에 따라 Bolt는 USD 200,000를 Jaguar Mining에 Max Brazil를 대신해 지급하고, 자산 상태를 유지하며, 30개월 이내에 Max Brazil에 26,200,000주, Max Resource에 6,094,679주를 발행하되 실사, 확정 계약 및 승인에 따라 달라질 수 있습니다.
Max는 기술팀이 Florália DSO 지질 목표를 8–12 Mt at 58% Fe에서 50–70 Mt at 55–61% Fe로 확장했다고 보고하며, 이 추정치는 개념적이고 아직 정의된 광물 자원은 아님을 주의합니다.
Max Resource (OTC: MXROF) a annoncé que Max Iron Brazil, détenue majoritairement, a conclu une LOI non contraignante avec Bolt Metals pour une option d'acquérir 100% de la propriété Florália de minerai de fer (droit minier 832.022/2018).
Sous les conditions proposées, Bolt paierait USD 200 000 à Jaguar Mining au nom de Max Brazil, maintiendrait le statut de la propriété et émettrait 26 200 000 actions à Max Brazil et 6 094 679 actions à Max Resource sur 30 mois, sous réserve de due diligence, d'accords définitifs et d'approbations.
Max indique que son équipe technique a élargi l'objectif géologique Florália DSO de 8–12 Mt à 58% Fe à 50–70 Mt à 55–61% Fe et précise que l'estimation est conceptuelle et n'est pas encore une ressource minérale définie.
Max Resource (OTC: MXROF) kündigte an, dass Max Iron Brazil, mehrheitlich im Besitz, eine unverbindliche LOI mit Bolt Metals für eine Option zur Erzielung von 100% der Florália-Eisensteineneigenschaft (Bodenerwerb 832.022/2018) eingegangen ist.
Unter den vorgeschlagenen Bedingungen würde Bolt USD 200.000 an Jaguar Mining im Namen von Max Brazil zahlen, den Eigentumsstatus beibehalten und 26.200.000 Aktien an Max Brazil und 6.094.679 Aktien an Max Resource innerhalb von 30 Monaten ausgeben, vorbehaltlich Due Diligence, endgültiger Vereinbarungen und Genehmigungen.
Max berichtet, dass sein technisches Team das Florália DSO-Geologieziel von 8–12 Mt bei 58% Fe auf 50–70 Mt bei 55–61% Fe erweitert hat und warnt, dass die Schätzung konzeptionell ist und noch kein definierter Mineralvorrat.
Max Resource (OTC: MXROF) أعلنت أن Max Iron Brazil المملوكة أغلبيةً دخلت في خطاب نوايا غير ملزم مع Bolt Metals لمنح خيار لكسب 100% من ملكية Florália لخامات الحديد (الحق المعدني 832.022/2018).
وفق الشروط المقترحة ستدفع Bolt 200,000 دولار أمريكي إلى Jaguar Mining نيابة عن Max Brazil، وتحافظ على وضع الملكية، وتصدر 26,200,000 سهمًا إلى Max Brazil و6,094,679 سهمًا إلى Max Resource خلال 30 شهرًا، رهناً بإجراء العناية الواجبة، والاتفاقيات النهائية، والموافقات.
تفيد ماكس بأن فريقها الفني وسع هدف Florália DSO الجيولوجي من 8–12 Mt عند 58% Fe إلى 50–70 Mt عند 55–61% Fe وتحذر من أن التقدير توثيقي وليس مورداً معدنيًا معرفاً بعد.
Max Resource (OTC: MXROF) 宣布，大股东 Max Iron Brazil 与 Bolt Metals 签署了非约束性 LOI，以便获得 Florália 铁矿区（矿权 832.022/2018）100% 的选项权。
按拟议条款，Bolt 将向 Jaguar Mining 代表 Max Brazil 支付 USD $200,000，维持矿权状态，并在 30 个月内向 Max Brazil 发行 26,200,000 股、向 Max Resource 发行 6,094,679 股，前提是尽职调查、最终协议及批准。
Max 报告称，其技术团队将 Florália DSO 地质目标从 8–12 Mt at 58% Fe 扩大至 50–70 Mt at 55–61% Fe，并提醒该估算具有概念性，尚未成为已定义的矿产资源。
- Florália target expanded to 50–70 Mt at 55%–61% Fe
- Bolt to issue 26.2M shares to Max Brazil and 6.09M shares to Max Resource
- Bolt to pay USD $200,000 and keep property in good standing
- Freeport fully funded USD $4.8M 2025 exploration program at Sierra Azul
- Florália quantity and grade are conceptual; insufficient exploration to define resource
- Completion subject to due diligence, definitive documentation and regulatory approvals
- Qualified Person unable to verify Marmato/Guayabales comparatives for Mora property
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2025) - MAX RESOURCE CORP. (TSXV: MAX) (OTC Pink: MXROF) (FSE: M1D2) ("Max" or the "Company") is pleased to report that the Company's majority owned Max Iron Brazil Ltd. has entered into a non-binding letter of intent with Bolt Metals Corp. ("Bolt") whereby Bolt may acquire an option to earn a
Under the proposed terms, Bolt will pay USD
Summary of Max Resource Mineral Properties
Mora Gold Property in Colombia
The undrilled Mora Property encompasses over 40 historic workings, 5 active mines, a series of exposed polymetallic structures over 2,500m by 1,000m, adjacent to Aris Mining's (TSX: ARIS) (NYSE: AIMN) 9.2Moz Marmato Gold Operation (P&P Reserves: 31.3Mt @ 3.2 g/t Au for 3.2Mozs, M&I Resources: 61.5Mt @ 3.0 g/t Au for 6.0Moz ¹) and Collective Mining's (TSX: CNL) (NYSE: CNL) Guayabales Project abuts along 3.7 km north (Apollo Porphyry System), west, south, and vertical east boundaries of the Mora Property (refer to Figure 1 and Table 1).
Appointment of Mr. Cocunubo as Head Geologist and Mr. Henao Head of Community Relations both acted the same roles for Collective Mining (TSX: CNL) joining Co-Founder of Collective Mining, Dr. Grainger who acts as Technical Advisor.
The geological team has commenced channel sampling of active underground artisanal mines, depth and advance ranges from 5m to 90m. This important step allows visual identification of the geological characteristics of fresh rock such as lithology, hydrothermal alterations, types of sulfides or mineralization, structures-faults-veins and veinlets. The Company will release exploration results shortly.
Max advises investors that the gold mineralization at the Marmato gold deposit and the Apollo porphyry zone may not necessarily by indicative of similar mineralization at the Mora Property. Max further advises the QP has been unable to verify the information on Marmato and Guayabales and that the information is not necessarily indicative to the mineralization on the Mora Property.
Sierra Azul Copper-Silver Project in Colombia
- Max's wholly owned Sierra Azul Copper-Silver Project sits along the Colombian portion of the world's largest producing copper belt (Andean belt). Max has an Earn-In Agreement ("EIA") with Freeport-McMoRan Exploration Corporation ("Freeport"), a wholly owned affiliate of Freeport-McMoRan Inc. whereby the fully funded USD
$4.8m 2025 exploration program is well underway. Updated exploration results are due shortly.
Florália Property in Brazil
The Florália Iron Ore Property lies within Minas Gerais, Brazil's largest iron ore and steel producing State. The Property has established road access to rail terminal (15 km) linking to steel mills and shipping ports; roads connect to DSO buyers Vale (16 km) and ArcelorMittal (26 km) ensuring efficient logistics and market access. Max's technical team has significantly expanded the Florália Hematite DSO Geological Target from 8-12Mt at
Max cautions investors the potential quantity and grade of the iron ore is conceptual in nature, and further cautions there has been insufficient exploration to define a mineral resource and Max is uncertain if further exploration will result in the geological target being delineated as a mineral resource. Hematite mineralization tonnage potential estimation is based on in situ high-grade outcrops and interpreted and modelled magnetic anomalies. Density value used for the estimate is 2.8t/m³. Hematite sample grades range between 55
Figure 1: Mora Gold-Silver Property regional and local location maps
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Table 1: Highlight Assay Results for 2012² and 2025 Field Investigations.
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Figure 2: Florália Property located nearby infrastructure and markets
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Qualified Person
The Company's disclosure of a technical or scientific nature in this news release was reviewed and approved by Tim Henneberry, P.Geo (British Columbia), a member of the Max Resource advisory board, who serves as a qualified person under the definition of National Instrument 43-101.
| Name | Highlights | Reference |
| Marmato Gold Deposit¹ | Aris Mining (TSX: ARIS) (NYSE: AIMN) | https://aris-mining.com/operation/reserves-and-resources/ |
| P&P Reserve: 31.28Mt at 3.16 g/t Au for 3.178Mozs | ||
| M&I Resources: 61.50Mt at 3.03 g/t Au for 5.997Mozs | ||
| Inferred Resource: 35.60Mt at 2.43 g/t Au for 2.787Mozs | ||
| Guayabales Project² | Collective Mining (TSX: CNL) (NYSE: CNL) | https://collectivemining.com/ |
| Apollo: 497m at 3.0 g/t AuEq. | ||
| Trap: 632m at 1.1 g/t AuEq. | ||
| Plutus: 301m at 3.0 g/t AuEq. | ||
| Ramp: 75m at 8.0 g/t Au | ||
| ME: 111m at 1.0 g/t AuEq. |
Table 2. References.
For more information visit on Max Resource: https://www.maxresource.com/
For additional information contact:
Tim McNulty E: info@maxresource.com T: (604) 290-8100
Brett Matich T: (604) 484 1230
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for Max Resources Corp. described in this news release will come into effect on the terms or time frame described herein.
The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.ca.
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FAQ
What did Max Resource (MXROF) announce about the Florália property on October 23, 2025?
How many shares will Bolt issue to Max Resource and Max Iron Brazil under the proposed Florália deal?
What is the updated geological target for Florália reported by Max Resource (MXROF)?
Is the Florália target a defined mineral resource for MXROF?
What cash payment is included in the proposed Florália transaction announced October 23, 2025?
What conditions must be met before the Florália transaction closes for MXROF?
