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MAX Power Mining Corp. is leading the convergence of artificial intelligence and Natural Hydrogen, advancing Canada’s first confirmed subsurface Natural Hydrogen system while developing proprietary AI-assisted exploration intelligence with global commercialization potential.
MAX Power Mining Corp. (CSE: MAXX) (OTC: MAXXF) (FSE: 89N) is advancing two interconnected opportunities at the forefront of the global energy transition: The discovery and potential commercialization of naturally occurring hydrogen, and the development of AI-assisted technology designed to identify prospective energy systems beneath the Earth’s surface.
At Lawson, four wells and 3D seismic have progressively defined Canada’s first confirmed subsurface Natural Hydrogen system, with Lawson 4 recording the highest Natural Hydrogen readings to date with the well also encountering a thick Basal Cambrian reservoir and a major fault or deep conduit interpreted to be a Natural Hydrogen “highway”. Lawson 5 is advancing the exploration model through a 30-km step out, while an extensive completions program is being prepared for Q4 2026 to evaluate gas composition, sustained flow, reservoir connectivity and deliverability.
Independent energy consultant GLJ Ltd., a recognized global leader, is supporting reservoir characterization, modelling and development scenarios as MAX Power advances toward potential commercial production.
Every well adds valuable geological and geophysical data to MAXX LEMI, the Company’s proprietary AI-assisted exploration platform, creating a powerful feedback loop where each discovery strengthens the geological model and improves the intelligence guiding future exploration. With the potential to drive Natural Hydrogen exploration across the industry globally, MAXX LEMI represents an opportunity extending far beyond Saskatchewan. As artificial intelligence accelerates global electricity demand, MAX Power is positioning itself at the intersection of two transformative opportunities: Developing a new primary energy source and building the intelligence that could help discover Natural Hydrogen systems around the world.
Natural Hydrogen: A New Power Source for the AI Economy
Data centers require enormous quantities of reliable electricity, placing increasing pressure on power grids, transmission infrastructure and conventional generation capacity.
Natural Hydrogen offers a different approach.
Unlike manufactured hydrogen, which requires energy intensive industrial processes, Natural Hydrogen is generated through geological processes beneath the Earth’s surface, offering the potential to establish a new primary energy source capable of delivering low cost, reliable baseload energy with significantly improved economics and reduced emissions.
For AI infrastructure, the opportunity is particularly intriguing: Instead of transporting energy over long distances through constrained electrical grids, Natural Hydrogen has the potential to support modular electricity generation near the source, creating opportunities for data centers and other large energy users to locate closer to dedicated power supplies.
This concept could reshape how energy intensive infrastructure is developed, particularly in regions with suitable geology, available land and growing industrial demand.
Saskatchewan: Where AI Meets a New Energy Frontier
Saskatchewan is rapidly emerging as a major AI infrastructure hub, creating a compelling convergence with MAX Power’s Natural Hydrogen discovery. Bell Canada is advancing an expansion targeting 1.2 GW of AI infrastructure capacity, while the province is evaluating more than 30 additional data center proposals. With major new facilities expected to secure their own electricity supply, two critical challenges are emerging: Reliable, large-scale power and sufficient water for cooling.
The answer to both may lie beneath Saskatchewan.
MAX Power’s Lawson Discovery is strategically located near established industrial and energy infrastructure. If commercially proven at scale, Natural Hydrogen could provide dedicated baseload electricity generation, while associated formation brines could potentially supply water for cooling. Together, these resources could address two of the AI industry’s greatest infrastructure constraints, creating an opportunity to develop data centers and advanced manufacturing facilities directly alongside a new primary energy source.
As Saskatchewan’s AI economy accelerates, Lawson could become a foundation for an entirely new model of energy intensive industrial development, bringing power, water and next- generation infrastructure together at the source.
Helium: A Critical Resource Behind the AI Revolution
The AI revolution depends on more than electricity. Helium plays an essential role in advanced semiconductor manufacturing, including cooling and maintaining the controlled environments required to produce the high-performance chips powering AI data centers. With global helium supplies concentrated among a handful of producers and vulnerable to recurring shortages and disruptions, securing reliable domestic sources has become increasingly strategic.
MAX Power’s Lawson Discovery has also identified significant helium concentrations, introducing the potential for a valuable secondary resource alongside Natural Hydrogen. If commercial recoverability is established, Saskatchewan could contribute to two critical needs of the AI economy: The energy to power its infrastructure and the helium required to manufacture its chips.
MAXX LEMI: Subsurface Super Intelligence with Global Monetization Potential
MAX Power is building more than a Natural Hydrogen exploration portfolio. MAXX LEMI (Large Earth Model Integration) is the Company’s proprietary AI-assisted geological platform, integrating seismic, drilling, geophysical, structural and historical subsurface data to identify and evaluate prospective Natural Hydrogen systems. With every new well and completions test, its growing proprietary dataset strengthens the geological model, potentially improving exploration accuracy and accelerating future discoveries.
Recognizing its potential beyond MAX Power’s own exploration activities, the Company has engaged Kyndryl Holdings Inc. (NYSE: KD), the world’s largest IT infrastructure services provider, to develop a commercialization strategy and go-to-market plan. Potential opportunities include technology licensing, platform access, technical services and strategic partnerships across international energy and exploration markets. MAXX LEMI was also named runner-up in the Digital Innovator Category at the 2026 Canadian Hydrogen Convention, behind Siemens.
For investors, MAXX LEMI represents an additional potential engine of scalable growth: Proprietary exploration intelligence that could drive Natural Hydrogen discoveries across the industry globally, creating value far beyond the Company’s own resource portfolio.
A Basin Scale Natural Hydrogen Opportunity
MAX Power’s Natural Hydrogen discovery at Lawson is evolving into a much larger exploration opportunity across Saskatchewan. With approximately 2.5 million permitted acres, anchored by the 475-km Genesis Trend and literally dozens of prospective targets, the Company has established a commanding land position in an emerging energy frontier. Four wells at Lawson have progressively advanced the geological understanding of Canada’s first confirmed subsurface Natural Hydrogen system, providing the foundation for a broader, basin scale exploration strategy.
Lawson 5 represents a major step toward establishing regional scale. Located approximately 30 km northeast of the initial discovery wells, it is testing the extension of the geological system toward and along the Prairie Evaporite Salt Wall, an important structural feature for Natural Hydrogen accumulation. Approximately 325 km southwest, Bracken provides a separate regional opportunity, where independent petrophysical analysis has identified multiple prospective Natural Hydrogen and helium zones. Together, these programs are testing whether the conditions identified at Lawson extend across a much larger geological footprint.
MAX Power is now advancing from discovery toward commercial validation. With completions testing designed to establish Natural Hydrogen concentrations, sustained flow rates, reservoir performance and recoverable volumes, the Company is on the cusp of determining whether its discoveries will support large-scale commercial production. The question is no longer whether Natural Hydrogen exists at Lawson, but how much can be commercially recovered and how far this emerging energy system may extend beyond Lawson.
Market Opportunity
The global hydrogen market is valued at approximately $250 billion and is expected to exceed $400 billion by 2030, while McKinsey has projected hydrogen could become a $2.5 trillion annual market by 2050, representing roughly 18% of final energy consumption. Conventional hydrogen typically costs $1.50–$3.00/kg and green hydrogen approximately $4.00–$8.00/kg, while Natural Hydrogen has the potential for production costs of approximately $1.00/kg or less if commercially proven at scale.
The opportunity is particularly compelling in Saskatchewan. The Regina–Moose Jaw Industrial Corridor has been estimated to support a C$708 million annual hydrogen market, with potential province wide demand reaching C$2.7 billion annually. At the same time, Bell Canada is undertaking a $50 billion expansion of its AI infrastructure toward a 1.2 GW Hub in Saskatchewan, highlighting the scale of new power demand emerging in the province. This convergence of geology, infrastructure and energy demand positions Saskatchewan as a compelling birthplace for the commercialization of Natural Hydrogen.
For MAX Power, this creates the opportunity to participate in two expanding markets: the global hydrogen economy and the rapidly growing market for dedicated electricity serving AI infrastructure.
Leadership Team
Rob Norris, Chief Executive Officer & Director, was a high-profile Saskatchewan cabinet minister in the Brad Wall government whose portfolios included SaskPower, Innovation Saskatchewan, Advanced Education, Employment, Labour and Immigration. He served the Saskatoon-Greystone riding as an MLA from 2007 to 2016 and a key member of cabinet (2007-2012 and 2013-2014) for what is widely regarded today as one of the most successful provincial governments in Canadian history. Rob brings exceptional communication skills, business savvy, and a strong network of contacts to his new role as CEO of MAX Power after first joining the board in June 2025.
Chad Levesque, President & Director, brings more than two decades of experience in capital markets, corporate development, investor relations and strategic communications, with a key role in MAX Power’s growth strategy, strategic relationships and global positioning.
Tony Van Bergsteden, Chief Financial Officer & Director, is a CPA and CFA and former CFO of Orano Canada and VP of Finance at Federated Co-operatives Ltd., bringing extensive experience in capital allocation, governance and large-scale resource operations.
Steve Halabura, Chief Geoscientist, brings half a century of Saskatchewan resource experience and deep knowledge of hydrogen, helium and industrial gas geology to the MAX Power team. He was instrumental in the formative stages of BHP’s Jansen Project and K+S’s Bethune mine, Saskatchewan’s only two greenfield potash mines developed in the 21st century. The US$15.3 billion Jansen Project, one of the largest potash mines in the world, is located 175 km northeast of the Lawson Natural Hydrogen Discovery and is slated to commence commercial production in 2027.
Tom Kishchuk, Chief Technology Officer & Director, is Executive Director of the Global Institute for Energy, Mines and Society and brings more than three decades of technical and business leadership across the energy sector.
Neil McMillan, Director & Chairman of the Board, is the former Chairman of the Board of Cameco, the world’s largest publicly traded uranium company. He also led Claude Resources as President and CEO for many years, positioning the Saskatchewan gold producer for its eventual $337 million acquisition.
Ran Narayanasamy, Director and Vice-Chair, led a multi-year buildout of the Regina-based and globally recognized Petroleum Technology & Research Centre (PTRC). Prior to PTRC, Ran enjoyed a 17-year career with SaskPower where he excelled in multiple areas in senior roles.
Brent Dunlop, Advisory Board Chairman, combines resource and capital markets experience, having built approximately $700 million in assets under management during a 28- year career at RBC following earlier technical roles with Inco and Potash Corp.
Andy Bowering, Special Advisor, is a renowned resource investor and venture capitalist with more than 30 years of industry and capital markets experience. He co-founded Millennial Lithium, acquired for C$491 million, and has helped build, finance and advance numerous successful resource companies.