12:11 PM EDT, 08/19/2025 (MT Newswires) -- Max Resource ( MXROF ) shares more than doubled on Tuesday after its Colombian unit, Maximum Company Colombia S.A.S., entered into an arm's-length purchase deal to buy Mining Concession No. KK6-08031 or the Mora property.

Pursuant to Maximum acquiring 100% of the shares of Villamora, the owner of Mora, Maximum acts as the sole operator and can withdraw from the option or purchase periods at any stage. The payments are in U.S. dollars to the shareholders of Villamora and all payments are subject to certain milestones, obligations and conditions.

The company said the undrilled property covers 40 historic workings, 5 active mines, a series of polymetallic structures over 2,500 meters by 1,000 meters, adjacent to Aris Mining's ( ARMN ) (ARIS.TO, AIMN) Marmato mine.

"The Mora Gold-Silver Title is of significant size, and provides both, a high-grade Marmato type target, clearly manifested by the numerous small-scale mines and geological proximity and an underlaid Apollo Porphyry type target, again with geological proximity and the series of "polymetallic" structures, which occur on all the targets for the adjacent Guayabales Gold Project, including the recent Apollo discovery," says Max Chief Executive Brett Matich. "We are excited with the opportunity of being the first exploration Company to conduct significant exploration on the Mora Title."

Shares of the company were last seen up $0.04 to $0.08 on the TSX Venture Exchange.

Price: 0.08, Change: +0.04, Percent Change: +100.00