Millennial Potash Corp. Initiates Its Environmental and Social Impact Assessment at the Banio Potash Project, Gabon

Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) (“MLP”, “Millennial” or the “Company”) is pleased to announce that it has initiated its Environmental & Social Impact Assessment at its Banio Potash Project in Gabon. The Company has engaged a consortium led by Artelia, Société par Actions Simplifée (“Artelia”) and including Biotope Afrique Centrale and Insuco Gabon to complete the ESIA. The group has extensive experience with large scale projects globally and throughout Africa including mining projects and the ESIA will be compliant with IFC performance Standards.

Farhad Abasov, Millennial’s Chair, commented “We are very pleased to have initiated our ESIA study as we progress with our potash development project in Gabon. We look forward to working with the Artelia group and completing a comprehensive ESIA for the project. The initiation of the ESIA marks another step in the development of the Banio Potash Project after the very successful Stage 2 drill program that resulted in a significant increase of our Measured, Indicated and Inferred resource. The ESIA will be incorporated into our mining license application which we expect to pursue in 2026. We are also planning to initiate a definitive feasibility study in coming weeks. The company is fully funded to carry out these programs. The US DFC funding will also be applied to cover our feasibility study costs.”

The comprehensive ESIA for the project will commence shortly with physical environment baseline studies including hydrology, hydrogeology, water quality, soils and air quality followed by bio-diversity baseline studies which will include an extensive coverage of flora and fauna in the region. Baseline studies for the social component of the study will include a review of the socio-economic conditions in the project area and will expand on the stakeholder engagement work that has been initiated by the Company. The final ESIA will outline any mitigation measures for the project and will include comprehensive environmental and social management plans. The ESIA is expected to be completed in 2026 and will be presented to the government of Gabon as part of the Company’s application for a mining license.

The Company is granting a total of 980,000 incentive stock options exercisable for a period of five (5) years at an exercise price of $3.22 per share.

Keep up-to-date on Millennial Potash developments and join our online communities on: Twitter, Facebook, LinkedIn, Instagram and YouTube.

MILLENNIAL POTASH CORP.

“Farhad Abasov”
Chair of the Board of Directors

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 document may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan” or “planned”, “forecast”, “intend”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental (including land or water use), local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for potash or potash related products, changes in exploration costs and government royalties, export policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company’s current plans, expectations and intentions with respect to development of its business and of the Banio Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Banio Potash Project. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.