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Re: News Release - Tuesday, December 04, 2007
MAX acquires Gold/Silver Property in Manhattan Mining District,
Nye County, Nevada; Drill Permitting underway on Ravin
Molybdenum project
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MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has
entered into an Option Agreement to acquire a 100 % interest in the
East Manhattan Wash ("EMW") claims in the Manhattan Mining District,
Nye County, Nevada from MSM LLC, a Nevada corporation. The property
is located 40 miles north of the town of Tonopah, Nevada.
Historically, there has been more than 1,000,000 ounces of gold
produced in the Manhattan mining district. Recent production from the
Manhattan mine (1974-1990), an open-pit operation. produced 236,000
ounces of gold at an average grade of 0.08 ounce per ton ("opt"). The
Echo Bay East and West Pit deposits operated in the early 1990s,
producing 260,000 ounces at an average grade of 0.06 opt. The Round
Mountain Mine, situated eight miles to the north, has produced more
than 12,000,000 ounces of gold. Recorded placer gold production from
the district includes approximately 150,000 ounces from a major dredge
operation, with small-scale lode mines having produced another 100,000
ounces.
The current exploration model suggests that deposits that will be found
in the Manhattan District are related to the contact of the Manhattan
Caldera Margin and structural intersections. Gold is also related to
the Cambrian-Ordivician Age sedimentary rocks along the five mile long
by one mile wide zone of the Caldera.
Preliminary assays from one of the outcrops sampled on the East
Manhattan Wash property have returned values from 0.054 to 1.01 ppm Au.
Assays are pending for the remaining samples, with panning of the
samples having revealed "free gold" in some of the samples. Additional
land has been staked along the North and South sides of the original
EMW claims. The EMW claims offer the opportunity to find high grade
gold deposits within a well known mineralized province. Underground
deposits found here will be in the 0.5 opt gold range and higher.
Conversely, open pittable deposits will be in the 0.05 opt gold range,
which is currently being mined at Kinross Gold's Round Mt. deposit.
The terms of the Option Agreement with EMW L.L.C. are as follows:
Date Payment Amount
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Upon execution of this Agreement $28,000 (U.S.)
First anniversary of Effective Date $20,000 (U.S.)
Second anniversary of Effective Date $25,000 (U.S.)
Third anniversary of Effective Date $40,000 (U.S.)
Fourth anniversary of Effective Date $50,000 (U.S.)
Fiifth anniversary of Effective Date $100,000 (U.S.)
The EMW Property is subject to a 3% NSR royalty. Upon full exercise of
the Option, the Company will own 100% of the project.
There are no historic reports on the project available to MAX. This
news release has been reviewed by Mr. Clancy J. Wendt, P. Geo, a
"qualified person" as that term is defined under National Instrument
43-101.
Ravin molybdenum/tungsten project update
MAX has begun drill permitting on its recently acquired Ravin
molybdenum/tungsten property in Lander County, Nevada, which was
announced September 10, 2007.
The Ravin Property had previously been explored by Union Carbide,
Houston Oil and Minerals and Freeport during the late 1970's and early
1980's. The property is comprised of 162 claims located 20 miles north
of the town of Austin, Nevada. Strong surface molybdenum and tungsten
mineralization occurs within Cambrian sediments which have been
intruded by two separate Cretaceous granitic to quartz monzonite
plutons. The Raven Pluton is the largest and crops out over an area of
about 2 square miles. The smaller Cadro Pluton crops out over a �
square mile area in the northwest part of the project. The Cadro
Pluton appears to be responsible for a majority of the hydrothermal
alteration and molybdenum mineralization seen on the project.
Union Carbide drilled three core holes with the deepest hole drilled to
a depth of 500 feet. Houston Oil subsequently acquired the property
in 1978 and drilled six core holes in the Reward tungsten pit. As part
of a regional rock and soil geochemistry program, Houston Oil
identified a coherent molybdenum soil anomaly. They drilled two
diamond drill holes and the best intercept encountered was 40 feet of
0.66% MoS2.
Freeport optioned the property in 1981 and drilled 17 rotary and core
holes to test a molybdenum-copper-fluorine anomaly found within the
Cambrian sedimentary units. The anomalous zone showed strong structural
control and is thought to be associated with the contact zone of the
Cadro Pluton. All but 4 drill holes encountered molybdenum
mineralization, with drill hole RW 90-7 reporting 250 feet of 0.105%
MoS2 beginning at 100 feet from surface.
Some of the historic drill holes exist in the form of reports and
summaries of the drilling, exploration, drill logs and assays but none
of he original assay sheets are available. During the last few months,
MAX has been able to locate a number of the previous drill holes on the
property and is preparing to file a drill permit with the Bureau of
Land Management for a 11 hole, 11,000 foot diamond drill
program designed to confirm the previous work and expand the zones of
known mineralization. A map of the Ravin property indicating the
location of historic drill holes is now available on our web site at
www.maxresource.com.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian mineral exploration company that
identifies, acquires and finances advanced stage exploration projects.
MAX is currently focused on the discovery of uranium, precious metals
and base metals, with interests in properties in Alaska, Arizona,
Nevada, New Mexico and the Northwest Territories of Canada. For more
information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
"STUART ROGERS"
Stuart Rogers
President
Contact: Leonard MacMillan, Corporate Communication
Telephone: (800) 248-1872 or (604) 637-2140
info@maxresource.com
www.maxresource.com
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
This News Release includes certain "forward looking statements".
Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the
Company are forward looking statements that involve various degrees of
risk. The following are important factors that could cause MAX's actual
results to differ materially from those expressed or implied by such
forward looking statements: changes in the world wide price of mineral
commodities, general market conditions, risks inherent in mineral
exploration, risks associated with development, construction and mining
operations, the uncertainty of future profitability and the uncertainty
of access to additional capital.
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Copyright (c) 2007 MEXIVADA MINING CORP. (MNV) All rights reserved.
For more information visit our website at http://www.mexivada.com/ or
send mailto:info@mexivada.com
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