Max Power Mining's Dual Discovery: Helium Adds New Dimension to Hydrogen Project

Max Power Mining's Saskatchewan drilling reveals a major helium and hydrogen resource, with a fully funded $20.5M exploration plan and key 2026 milestones ahead.

Exploration company Max Power Mining has reported highly encouraging drilling results from its operations in Saskatchewan. The findings from the Bracken well have revealed a significant dual-resource potential, moving beyond the initial target of natural hydrogen to include commercially valuable helium.

A Strategic Financial Position and Upcoming Milestones

The company's near-term exploration agenda is fully funded following a recent financing round that raised $20.5 million. This capital secures a clear pipeline of operational milestones designed to advance the project.

• A 47-square-kilometer 3D seismic survey has been completed ahead of schedule, with initial interpretations expected within the next two to three weeks.
• Test work on the Bracken well to precisely determine gas composition is scheduled to commence in the second quarter of 2026.
• A confirmation drill hole at the apex of the Lawson structure, intended to assess commercial viability, is planned for mid-2026.
• A new target zone, described as a geological "twin" to the Lawson discovery, has been identified just 12 kilometers to the southwest.

On the corporate front, management is preparing for a shareholder vote on April 17, 2026, regarding a new shareholder rights plan. This measure is designed to provide the board with additional time to evaluate alternatives and negotiate fair value for shareholders in the event of an unsolicited takeover bid.

Geological Thesis Validated by Multi-Zone Discovery

The drilling at the Grasslands project reached a depth of 2,600 meters, delivering critical data that supports the company's geological model. The well encountered a mixed hydrogen-helium interval in the Upper Devonian formation. Deeper sections, within the basal Deadwood and Basement Complex formations, were dominated by natural hydrogen.

This multi-zone result strengthens management's thesis that an extensive hydrogen system exists across large portions of the province and that multiple geological concepts can coexist within a single borehole. The discovery of helium adds a substantial new commercial angle to the project. Internal modeling indicates that helium as a byproduct could significantly enhance the economics of a hydrogen resource.

Historical testing at the Lawson site, located 325 kilometers away, had previously recorded average helium concentrations of 4.4 percent. Following a share price decline of approximately 24 percent over the past month, the equity closed at 0.75 euros yesterday. The latest exploration data provides fresh fundamental information for the market's ongoing valuation of the company.