TSX-V Symbol: MXR
OTC BB Symbol: MXROF
VANCOUVER, Feb. 10 /CNW/ - Max Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has learned that the Government of British Columbia intends to halt all ongoing mineral exploration work and prohibit any future mine development in the Flathead Valley in Southeastern B.C.
In his Throne Speech of February 9, 2010, which outlines the B.C. Government's legislative agenda for the upcoming session, BC Lieutenant-Governor Steven L. Point announced that the Province of B.C. intends to enter into a partnership with the State of Montana regarding the Flathead River Basin and, as a result, "Mining, oil and gas development and coalbed gas extraction will not be permitted in British Columbia's Flathead Valley". This action will effectively prevent any further exploration or development of the Company's Crowsnest gold project, which is located in the Flathead Valley watershed.
"We are surprised and disappointed by the Government's action," said Stuart Rogers, President of MAX, "given our outstanding exploration results at Crowsnest in 2009. And we will seek adequate compensation."
MAX will now resume its focus on gold in Nevada, where drill permitting on three gold exploration projects (Table Top, Diamond Peak and East Manhattan Wash) is already well underway.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian exploration company with a diversified portfolio of mineral exploration projects in Canada and the Western United States. We are currently focused on gold, with three gold properties in Nevada being explored in 2010. For more information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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.
SOURCE MAX Resource Corp.
For further information: For further information: Leonard MacMillan, Corporate Communication, Telephone: (866) 331-5088 or (604) 637-2140, email@example.com, www.maxresource.com