Silver/Copper/Gold Silver/Copper/Gold

Exploration and Development Exploration and Development

NevadaNevada

November 2012November 2012

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This presentation may contain “forward-looking statements” which reflect the Company’s current expectations regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content and results of work programs, geological interpretations and potential mineral discoveries, and negotiation and closing of future financings. The statements reflect the current beliefs of the management of the Company and are based on currently available information. Accordingly, these statements are subject to known and unknown risks, uncertainties and other factors which could cause the actual results, performance, or achievements of the Company to differ materially from those expressed in, or implied by, these statements.

In addition, investors are cautioned that this presentation may contain information about mineral properties adjacent to or near the Company’s properties and in which the Company has no right or interest. Mineral deposits on such adjacent or near properties are not indicative of the mineral deposits, if any, which may be found on the Company’s properties. The historic information provided has not been verified by the Company and is for reference only.

Disclaimer

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�Drilling in 2011 and 2012 confirmed that Majuba Hill in Nevada is a porphyry system with achalcocite blanket

�Near surface high-grade Ag/Cu/Au supergene oxide mineralization - potential bulktonnage open pit deposit.

�Drilling returned up to 2 oz/t Ag Eq over wide intersections:- Hole MM-06: 96 m of 39.2 g/t Ag and 0.57% Cu (2.7 oz/t Ag Eq) inclusive of

44.2 m of 71.0 g/t Ag, 0.15 g/t Au and 1.14% Cu (5.2 oz/t Ag Eq)

- Hole MM-21: 332 M of 12 g/t Ag and 0.13% Cu

�Mineralization identified over 500 m of strike and to a depth of 350 m.

�Permitting underway for a 20 hole development drill program at Majuba Ridge designed to establish an initial NI 43-101 compliant inferred resource estimate by the end of 2013.

�Management experienced in large scale open pit mining, exploration and finance.

�In the vicinity of 3 major mines under development by major producers (Coeur d’Alene,Barrick and Allied Nevada)

�Attractive share structure with only 24.5 million shares issued

Investment Highlights

4

Corporate Structure

Share structure (Nov 30, 2012)

Common Shares: 24,505,985

Options: 3,280,000

Warrants: 2,016,755

Fully-diluted: 29,802,740

Cash: $ 700,000

Market cap. $ 3.4 Million

Management ownership: 36%

Share structure (Nov 30, 2012)

Common Shares: 24,505,985

Options: 3,280,000

Warrants: 2,016,755

Fully-diluted: 29,802,740

Cash: $ 700,000

Market cap. $ 3.4 Million

Management ownership: 36%

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- 25 years of experience in public company finance and management- founder and former CFO of Prophecy Resource Corp. (TSX: PCY)

- 45 years of experience in gold and silver exploration in the Americas- involved in discovery of 12 gold deposits in Nevada totaling 17 MM oz Au - Past President of Geological Society of Nevada - recent gold discovery – Crowsnest in Southeast B.C. in 2009

- over 40 years of experience in the development of large scale open pit coppermines on an international basis

- projects included Red Chris (B.C.) Bougainville (PNG) and La Caridad (Mexico)

- President of MAG Silver (Amex: MVG)- managed and directed multi-million dollar exploration programs for Noranda

Exploration, Battle Mountain Gold/Hemlo Gold, and Sargold Resources. - Discoveries include gold and base metal deposits in the US, Canada and Mexico.

Management

Stuart Rogers

President and Director

Clarence (Clancy) Wendt,

P. Geo, F AusIMM, CP Mgmt

VP Exploration and Director

Ian SmithB.E. (Mining) Hons, F AusIMM, CP Mgmt

Director

Dan MacInnis, P. Geo

Director

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Soil sampling and drilling by MAX at Majuba Hill in 2012 indicate that:

�High-grade near surface copper and silver oxide mineralization exists well beyond theimmediate area of the past producing Majuba Hill mine.

�High grade Ag/Cu oxide mineralization extends 500 m to the southeast from Majuba Hill mine

- Hole MM-17 (500 m to SE) - 42.7 m of 16.8 g/t Ag, 13.7 m of 15.9 g/t Agand 6.16 m of 51 g/t Ag

- Hole MM-21 (250 m to SE) - 332 m @ 12 g/t Ag and 0.13% Cu within 12 m of surface.

� High grade oxide Ag/Cu mineralization extends to a depth of at least 350 m from surface

- Historic drill data (Minefinders 1975) includes 155.4 m 9.23 g/t Ag and 0.22 % Cu starting atdown hole depth of 220 m

in hole MM-06, 96 m of 39.2 g/t Ag and 0.57% Cu inclusive of 44.2 m of 71.0 g/t Ag, 0.15 g/t Au and 1.14% Cu

in hole MM-07 50.3 m of 50.8 g/t Ag, 0.31 g/t gold and 0.31% Cu

in hole MM-03 42.7 m of 37.5 g/t Ag and 0.38% Cu

DeSoto Discovery - Dec 2011Step out drilling intercepts 29.2 m of 30.5 g/t Ag and 0.69% Cu at DeSoto discovery zone 1.4 km to the northwest of Majuba mine site

Drilling in early 2011 intercepts high-grade copper and silver near surface.

Exploration Highlights

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Project Location and Infrastructure

Majuba Hill- Copper/Silver/Gold

35 miles north of Coeur d’Alene’s

(TSX.CDE) flagship Rochester Silver Mine

(NI 43-101 M&I resource of 263.9 MT

@0.46 oz/t Ag and 0.004 oz/t Au)

�2,568 acres comprised of

patented and unpatented

claims and private mineral

rights

� high grade Cu/Ag oxide

mineralization – low cost

heap leach processing

�Large scale bulk tonnage

open pit potential

�Only 23 miles off of

Interstate 80 in active

mining district on well

maintained dirt road

�Close to rail, highway,

power and skilled work

force

23 miles north of Liberty Silver’s

(TSX:LSL) Trinity silver project (NI 43-

101 inferred resource of 1.9 MT

@1.37 oz/t Ag at 0.65 oz/t cutoff)

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Patented Claim Boundary

Majuba Project Boundary

Majuba Mountain

- 2,568 acres that include patented claims encompassing historic Majuba Hill mine

Majuba Placers

Majuba Hill – Project Area

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Majuba Hill – Mining and Exploration History

1907 Copper and Tin (Cassiterite) Discovered

1914-18 Mason Valley Copper- 3 Tunnels at Copper Stop - Upper, Middle, and Lower Adit- Produces 4,000 tons of 12% Cu

1942-54 Greenan-KerrProduces 23,000 tons of 4% Cu from Copper Stope Adit

1971-74 MineFinders drills for Climax-Type Mo Porphyry- Drilling confirms extensive Cu and Ag mineralization

2005-07 Minterra Resource Corp. tests leachable copper oxide target- Completes 2,600 m of reverse-circulation drilling- High grade intercepts at Copper Stope include 145 ft @ 1.85 oz/t Ag and 0.49% Cu,

inclusive of 15 ft @ 5.01 oz/t Ag. - Minterra delisted in 2008 and lets property lapse.

2011 MAX Resource Corp. enters into agreement to earn 75% interest in Majuba Hill

� Completes 1,800 m of core drilling with assay results up to 50% higher than Minterra’sdue to improved recovery with core drilling as compared to reverse-circulation.

� High grade Cu and Ag mineralization intercepted near surface over long intervals (96 m)

� Soil geochemistry completed on unexplored western area of property that identifiessignificant Cu (to 1.53%) and Ag (to 209 g/t) in soils over 2 km x 1 Km area at DeSoto

� Discovery hole (MM-18) at DeSoto intercepts 29.2 m of 30.5 g/t Ag and 0.69% Cu

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Majuba Hill – Mining Lease and Option to Purchase Agreement

Mining Lease and Option to Purchase Agreement with Claremont Nevada Mines, LLC and JR Exploration LLC dated December 3, 2012 whereby MAX can acquire a 100% interest in Majuba Hill for $1 Million, payable as follows:

• $200,000 on closing (paid)

• $200,000 on November 15, 2013;

• $200,000 on November 15, 2014;

• $200,000 on November 15, 2015; and

• $200,000 on November 15, 2016.

The Majuba Hill property will be subject to a 1% NSR.

There are no work commitments or other ongoing obligations.

1111

1500 m

2012 Exploration targets

1500 m

Majuba Mine Target

DeSoto Target

Majuba Mine Target

Ball Park Target

�Historic Production (8 MM lbs of Cu at 12% avg. grade, unrecorded Au and Ag)

�Near surface copper/silver/gold mineralization

�Phase I drilling: 96 m of 0.57% Cu, 39.2 g/t Ag and 0.10 g/t Au starting from surface (includes 44.2 m of 1.14% Cu, 71 g/t Ag and 0.15 g/t Au)

�Phase III drilling in 2012 extends high grade oxide mineralization from Majuba Mine to Ball Parkalong Majuba Ridge: Hole MM-21 intercepts 332 m of 12 g/t Ag and 0.13% Cu

�Defined by MAX soil sampling in August 2011

�Extension of Majuba Mine mineralized system

�Drilling in Dec 2011 - (MM-17) intercepts 42.7 m of16.8 g/t Ag, 13.7 m of 15.9 g/t Ag and 6.16 m of51.0 g/t Ag

�MAX sampling in 2011 identifies 2 x 1 km coincident highgrade Ag and Cu soil anomaly

�Sampling returned 1.53% Cu and 6 oz/t Ag in soils

� Discovery hole (MM-18) intercepts 29.2 m of 30.5 g/t Ag and0.69% Cu

DeSoto Target

Ball Park Target

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Maju

ba F

ault

Zone

Surface Projection of underground

workings at Majuba Mine

MM-2: 45.7 m @ 0.56% Cu/ 15.4 g/t Ag (68.6 to 114.3 m)

Incl: 9.1 m @ 0.54% Cu/ 39.3 g/t Ag

MM-5: 89.3 m @ 0.28% Cu/ 16.5 g/t Ag (0 to 89.3 m)

Incl: 13.7 m @ 0.47% Cu/ 30.0 g/t Ag

MM-6: 96.0 m @ 0.57% Cu/ 39.2 g/t Ag (1.5 to 97.5 m)

Incl: 44.2 m @ 1.14% Cu/ 0.15 g/t Ag/71.0 g/t Ag

MM-7: 50.3 m @ 0.31% Cu/ 50.8 g/t Ag (76.2 to 126.5 m)

Incl: 19.8 m @ 0.53% Cu/ 100.1 g/t Ag

MM-3: 42.6 m @ 0.38% Cu/ 37.5 g/t Ag (91.5 to 134.1 m)

Incl: 10.7 m @ 0.93% Cu/ 90.2 g/t Ag

MM-20: 293 m of 5.49 g/t Ag, 0.10 g/t Au and 0.09% Cu in

Porphyry-style alteration zone with significant sulfides.

MM-21: 332 m of 12 g/t Ag and 0.13% Cu

Majuba Hill-Majuba Mine Site looking NW

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Hole MM-06 – 254 g/t Ag and 3% Cu over 5 feet

Majuba Hill – Copper Oxides at Copper Stope

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Majuba Hill – Drill Results 2011 and 2012

0.70 oz/t

1.37 oz/t

12.0

16.5

0.13%

0.32%

332.3

48.7

344.5

291.1

12.2

242.4

351.4-44068MM-21

5.5

6.3

0.10

0.15

0.09%

0.32%

292.8

116.6

323.9

323.9

31.1

207.3

323.9-44014MM-20

Includes

2.8 oz/t30.50.69%29.251.121.9146.2-45304MM-18

0.6 oz/t

0.6 oz/t

1.6 oz/t

15.9

16.8

51.0

0.05

0.03

0.04

13.7

42.7

6.1

18.3

86.9

123.5

4.6

44.2

117.4

160.1-70.5119MM-17

Includes

Includes

2.2 oz/t

4.1 oz/t

50.8

100.1

0.31

0.56

0.31%

0.53%

50.3

19.8

126.5

126.5

76.2

106.7

146.4-45290MM-07

Includes

2.7 oz/t

5.2 oz/t

39.2

71.0

0.10

0.15

0.57%

1.14%

96.0

44.2

97.5

45.7

1.5

1.5

119.8-90-MM-06

Includes

1.2 oz/t

2.2 oz/t

16.5

30.0

0.28%

0.47%

89.3

13.7

89.3

15.2

0

1.5

89.3-45279MM-05

Includes

2.1 oz/t

5.2 oz/t

37.5

90.2

0.38%

0.93%

42.6

10.7

134.1

112.8

91.5

102.1

158.6-70263MM-03

Includes

Hole Azimuth Angle Total

Depth

From

(m)

To

(m)

Interval

(m)

Cu Au

(g/t)

Ag

(g/t)

Ag Eq (Oz/t)

MM-02

Includes

243 -70 122.8 68.6

105.2

114.3

114.3

45.7

9.1

0.56%

0.54%

0.07

0.11

15.4

39.3

2.0 oz/t

2.6 oz/t

Note: Silver equivalency (Ag Eq. Ounces) includes silver and copper and excludes gold values and is calculated based

on 5 year historic metal price trends of US$24/oz silver and US$3/lb copper. Metallurgical recovery of 100% is assumed.

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Majuba Hill – Sulphide Mineralization – Hole MM-20

• This first deep hole at Majuba Hill intercepts 293 m of 5.49 g/t Ag, 0.10 g/t Au and 0.09% Cu in sulfide mineralization in a porphyry-style alteration zone discovered below the high grade Ag/Cu/Au oxide zone at the Majuba Mine

• Hole MM-20 contains Chalcopyrite, Pyrite and Molybdenite in a hydrothermally altered mineralized zone indicative of the primary zone of a porphyry system.

• Gold mineralization grading 0.145 g/t Au was intercepted over the final 116 m of Hole MM-20, which was still in mineralization when terminated at the planned target depth of 323 m due to weather conditions.

• Gold, copper and molybdenum mineralization was all increasing in gradewith depth

• the mineralized system remains open at depth and in all directions

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Majuba Hill – Hole MM-21

• MM-21 intercepted 4.6 m @ 58.0 g/t Ag and 7.6 m @ 0.80% Cu within an overall mineralized intercept of 332 m @ 12 g/t Ag and 0.13% Cu (23.9 g/tsilver equivalent (“AgEq”)) in oxides that began within 12 m of surface.

• Hole MM-21 confirms that a ridge of high-grade oxide mineralization extends a further 500 m to the southeast from the Majuba mine to the Ball Park target, where hole MM-17 intercepted 42.7 m of 16.8 g/t Ag, 13.7 m of 15.9 g/t Ag and 6.16 m of 51.0 g/t Ag, and is all one mineralized zone, the Majuba Ridge.

• The drill results from MM-21 and MM-17, combined with historic data from Minefinders (Hole MF-1: 155.4 m @ 9.23 g/t Ag and 0.221% Cu from 220 m down hole), expands the known mineralized silver/copper zone for 500 m to the SE of the Majuba Mine and to a depth of at least 350 m.

• Permitting is underway for a 20 hole development drill program at Majuba Ridge designed to establish an initial NI 43-101 compliant inferred resource estimate by the end of 2013.

• Metallurgic testing is currently underway to determine optimum copper and

silver recovery through different heap leach processes and methods.

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Majuba Hill – Drill Holes Location

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Majuba Hill – Silver Soil Geochemistry

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Majuba Hill – Copper Soil Geochemistry

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Majuba Hill – Drilling 2011

Majuba Hill – Drilling 2011

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Majuba Hill – Drilling 2011

Majuba Hill – Outlook 2012 and beyond

2km

2 x 1 kmSoil anomaly

1 x 0.75 kmtarget area

June 2012 – 900 m drill campaign:�Tested extent of mineralization at DeSototarget�Extended mineralized zone at Copper Stope to

Ball Park along Majuba Ridge

Objectives for 2013:Drilling for an initial resource estimate at Majuba Ridge to validate our model (size and grade).

Identify and test additional target areas to expand resource potential beyond 100 MMT

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Additional Exploration Projects – 2013

East Manhattan Wash, Nevada (100%)

Diamond Peak, Nevada (100%)

�78 claims (1,560 acres) in Manhattan Mining District, Nye County, located 8 miles south ofKinross/Barrick Round Mountain Mine (+ 12 MM oz ounces of gold produced)

�Recovered 4.9 g/t gold and 1.2 g/t silver from 793 lb bulk sample in 2009.

�Assays from 163 soil samples taken in 2010 produced values to 1.27 g/t gold.

�Permit applications have been filed for an extensive drill program to determine the overalldepth and grade of the mineralization.

�58 claims located at the south end of the Carlin Trend, 32 miles north of Eureka and theArchimedes gold deposit (Barrick)

�Exploration by MK Gold in 1999 encountered:� 106 g/t silver in outcrop (3.09 oz/t) which was never followed up� 11.6 % of Zinc over 1.5 meters within 20 meters of surface

�geochemical grids in 2011 confirmed high silver zone in the south extends to the east, with soilassays of up to 5.8 g/t Ag and an outcrop sample of 53.5 g/t Ag

�Permitted for drilling of new gold, silver and zinc targets identified by sampling.

Tel: 1 (866) 331Tel: 1 (866) 331--50885088

EE--Mail: Mail: info@maxresource.cominfo@maxresource.com

www.maxresource.com

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