Max Power Mining Advances Hydrogen Exploration with Second Drill Target

Max Power Mining CA57778R1001

Following Canada's inaugural discovery of natural hydrogen, Max Power Mining is moving swiftly to build on that momentum. The company is now preparing a second drilling campaign in Saskatchewan, deliberately employing a distinct geological strategy at its new "Bracken" target. This next phase aims to determine if the initial success can be replicated under different subsurface conditions.

Max Power announced the identification of a robust drilling target at the Bracken prospect, located along the Saskatchewan-Montana border, on January 30, 2026. The company is currently progressing through the requisite permitting process, with plans to commence drilling before the end of February 2026.

This new site represents a significant strategic shift. Situated approximately 325 kilometers southwest of the initial Lawson discovery, Bracken will test an alternative geological "play concept." The approach here focuses on different trapping and sealing mechanisms compared to the more structurally oriented model used at Lawson. In essence, the company is not simply replicating its previous effort but is launching a fresh attempt to identify natural hydrogen accumulations under a separate set of geological parameters.

To define the Bracken target, Max Power utilized a combination of newly acquired, proprietary 2D seismic data (34.3 line-kilometers) and historical datasets. This information was used to map the subsurface basement architecture and identify potential migration corridors where hydrogen could have accumulated.

The Lawson Discovery Sets a High Bar

The urgency behind this follow-up campaign is driven by a landmark achievement. On January 16, 2026, Max Power confirmed Canada's first natural hydrogen drill discovery at its Lawson site near Central Butte. Independent laboratory analysis of sealed core tube gas samples reportedly indicated hydrogen concentrations reaching 286,000 ppm (28.6% H₂).

Furthermore, the company reported helium values of up to 8.7% in samples from a zone above the basement complex. Subsequent through-casing flow tests, analyzed by three independent labs (AGAT, Corelab, and PTRC), confirmed sustained hydrogen concentrations ranging from 16.80% to 19.07%. The Lawson discovery has established a compelling reference point, and the Bracken drill program will now test whether similar potential exists within a different geological framework.

Key Data Points:
* Lawson discovery confirmation date: January 16, 2026
* Bracken target announcement: January 30, 2026
* Peak hydrogen concentration at Lawson: 28.6% (286,000 ppm)
* Peak helium concentration at Lawson: 8.7%
* Distance from Bracken to Lawson: ~325 kilometers southwest
* Bracken permitting & drill start: Targeted for February 2026

Extensive Land Holdings and Corporate Updates

Max Power controls a substantial land package in the region, with approximately 1.3 million acres (521,000 hectares) already permitted in Saskatchewan. An additional 5.7 million acres are under application. The Bracken target falls within the permitted "Grasslands Project," a 75-kilometer-wide corridor along the provincial border. The Lawson discovery is located on the separate 475-kilometer "Genesis Trend" near the Regina–Moose Jaw Industrial Corridor.

Concurrent with the Bracken update, the company disclosed new equity-based compensation. It granted 3,415,000 stock options with an exercise price of US$1.08 and a three-year term, alongside 2,990,000 restricted stock units for management, directors, and advisors. Max Power also entered into service agreements for investor relations and communications support, including a six-month contract with Apollo Shareholder Relations for US$45,000 plus 100,000 stock options.

Market reaction to the news was positive, with the company's shares advancing 11.52% to trade at US$0.72.

All attention now turns to February. The scheduled spudding of the Bracken well will provide a critical test of whether Max Power's alternative geological model can yield results comparable to Lawson or if the initial discovery will remain a singular event for the time being.