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MAX RESOURCE CORP. (“MAX” or the “Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D) is pleased to announce it has executed the final “Novita Project” Asset Purchase Agreement with Noble Metals Limited and its subsidiary Condoto Platinum Limited and received conditional approval from the TSX Venture Exchange for the transaction. The transaction includes:
  • The 100% rights to mineral claims and mineral applications, and more importantly, the “Novita Agreement”, an exclusive right of first refusal to the mineral rights and mining rights over 1,050 sq. km held by the Novita Higher Community Council as sole owners of the land and minerals.
  • The Novita Agreement area encompasses or is adjacent to the Company’s Choco Precious Metals Project, located 100 km SW of Medellin, Colombia.
  • The Choco Precious Metals Project covers or is adjacent to historic surface production of 1.5Mozs of gold and 1.0Mozs of platinum by Compania Minera del Choco Pacifico between 1906 and 1990. (Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia Part 3. Private Report for Condoto Platinum Ltd).
  • Under the terms of the Novita Agreement, the Novita Higher Community Council is entitled to 12.5% of Net Revenue Return (as defined below) to the Council and 5% of Net Revenue Return to the Committee from any present or future mining production within the Novita Agreement area.
  • Established infrastructure, including a full operation 30 exploration camp at the town of Novita
Brett Matich, Max’s President and CEO commented: “Mr. Bill Hayden, founder and former director of Noble Metals assembled the Novita Project and he will assist the Company’s aggressive exploration programs” Mr. Matich continued: “Gold pundits are forecasting prices to continue to rise as demand continues to strengthen. Max is strategically positioned to take advantage of this rising market through its Colombian gold assets”.
The Noble Transaction
This exchange was initially declared in June of 2018, when Max executed an official concurrence with Noble to buy the majority of the exceptional offers of Condoto Platinum Limited (and two different backups of Noble). Because of broad due tirelessness by Max, the exchange advanced from an offer buy to a benefit buy, as reflected in the finished Asset Purchase Agreement.
The full executed Asset Purchase Agreement requires the issuance of 26,665,896 basic offers in the capital of Max Resource Corp. to Noble Metals Limited and a money installment of CDN$500,000. At shutting, Noble will hold 32.7% of the issued and remarkable offers of Max, turning into another "control individual". Thus, Max will require investor endorsement, on a larger part of the minority premise. The remarkable investor meeting date is booked to be discharged in the coming days. Honorable Metals Limited will likewise require investor endorsement. Also, the assent of the Novita Higher Community Council is a state of shutting; Max completely anticipates that this assent should be given.
Net Revenue Return
Net Revenue return is a non-IFRS measure defined in the Novita Agreement to mean: gross proceeds derived from the sale of the mineral (excluding any taxes and after adjustments) less all costs incurred in relation to the production of the mineral (all exploration and pre-production expenditures, reclamation costs, amortized capital costs and all expenses including but not limited to all mining, crushing, treatment, processing, smelting, refining, transporting, marketing, assaying, sampling, handling, storage, sales costs, insurance, rents, marketing and any other related costs.)
About Max Resource Corp.
Max Resource Corp.’s focus is to explore and consolidate gold and platinum group mineral assets in the richly endowed Choco mineral district of Colombia and to explore the Gachala sedimentary copper hosted mineral belt of Colombia.
“Brett Matich”
Brett Matich, CEO and President
Tim Henneberry, P. Geo (British Columbia), a member of the Max Resource Corp. Advisory Board, is the qualified person who has reviewed and approved the technical content of this news release on behalf of the Company.
For further information, please visit the Company’s website at www.maxresource.com or the Company’s profile at www.SEDAR.com
If you would like to be added to Max Resource’s news distribution list, please send your email address to info@maxresources.com
For more information contact:

Investor Relations

Tel: (+1) 604 365-1522


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