Millennial Potash Expands Land Position by 20% with New Exploration Permit at its Banio Potash Project
Millennial Potash Expands Land Position by
20% with New Exploration Permit at its Banio
Potash Project
West Vancouver, British Columbia--(Newsfile Corp. - February 24, 2026) -
Millennial Potash Corp.
(TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company")
is pleased to
announce that it has been granted the "Haute Banio" exploration permit which is adjacent to the
Company's core Mayumba exploration permit in southern Gabon.
The Haute Banio exploration permit
covers 261.39 km
2
, is contiguous with the Mayumba exploration permit and covers a gap between the
Mayumba exploration permit and the ocean in the north and the border with the Republic of Congo
("ROC") in the south.
A portion of the Haute Banio exploration permit covers marine coastline areas.
Farhad Abasov, Millennial's Chair, commented "We are excited to have acquired an additional
exploration permit for our Banio Potash Project with strong potential to expand our current resource base
having increased our exploration permit area to almost 1,500 square kilometers.
The new permit area
has a strategic importance to the Company's development plans as the Company now has all of the
western coastline areas. The issuance of an additional permit demonstrates continuing solid support
from the Gabonese government for Millennial Potash and an acknowledgement of the tremendous
progress made on the project to date. Anticipated drilling in H2 2026 is planned to test the westward
extension of the thick potash mineralization identified to date at Banio.
The new Haute Banio exploration
permit gives us complete access to the ocean for any development needs that may arise from our
ongoing Definitive Feasibility Study and to an old access road that runs from the project area to the local
airport and the town of Mayumba.
The recently completed financing by the Company now gives us the
opportunity to expand the Banio resource base and evaluate additional potential production options."
The Haute Banio exploration permit is located west of the main Mayumba exploration permit and
extends Millennial's land position to the ocean in the north and to the ROC border in the south (see Fig.
1).
The exploration permit is valid for 3 years and can subsequently be renewed for 2 additional 3-year
periods.
The Company has committed to a comprehensive exploration program including geological
and geophysical studies, re-interpretation of seismic data, drilling, a resource estimate as well as an
Environmental and Social Management Plan.
The new permit is of strategic importance to the Company as it covers the potential westward extension
of the current Mayumba Mineral Resource Estimate resource area (see MLP News Release, Fig. 2
dated Nov. 17, 2025).
The Haute Banio exploration permit also covers potentially key infrastructure
routes that will aid in the development of the Banio Potash Project, primarily a coastal road that runs
some 40km northwards to the town of Mayumba, and access to the ocean.
Drilling west of BA-001 and
BA-003 on the new permit is planned for H2 2026 and will be combined with additional data from the
Mayumba exploration permit for a combined updated mineral resource estimate of the two permits. The
Company now holds approximately 1,500 square kilometers of exploration ground that fully covers the
potential potash bearing units in Gabon.
Fig. 1
Outline of the Haute Banio permit in grey, adjacent to the Mayumba Permit
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/284557_55ff399ba4fb5bdf_001full.jpg
The information in this news release has been reviewed and approved by Peter J. MacLean, Ph.D., P.
Geo. (Ontario), Director of the Company, who is a Qualified Person as that term is defined in National
Instrument 43-101.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662 8184 or
email at
.
Keep up-to-date on Millennial Potash developments and join our
online communities on:
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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.
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