Millennial Announces Initiation of Phase 3 Drill Program at Its Banio Potash Project
Millennial Announces Initiation of Phase 3
Drill Program at Its Banio Potash Project
West Vancouver, British Columbia--(Newsfile Corp. - May 12, 2026) -
Millennial Potash Corp. (TSXV:
MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company")
is pleased to report
that it has initiated its Phase 3 drill program at its flagship Banio Potash Project in Gabon.
The program
consists of four additional potash-specific drillholes totaling approximately 4,000m of drilling and is
designed to evaluate the extension of potash resources south and west of the currently outline
mineralization.
Farhad Abasov, Millennial's Chair, commented, "We are excited to announce that we have
started our
Phase 3 drilling at Banio, an important step in unlocking further value from this highly prospective potash
project. The four planned drillholes, located south and west of previous drilling, are designed to support
potential resource expansion and further demonstrate the scale of the opportunity at Banio. Two of the
planned holes, BA-007 and BA-008, are located on the recently acquired Haute Banio exploration
permit reflecting the strategic importance of this acquisition which also occupies the coastal region of
the project and is located closer to the planned port and other planned infrastructure.
The Company has
a substantial Measured Mineral Resources Estimate ("MRE") of 648.2M tonnes grading 15.7% KCl, an
Indicated MRE of 1.8B tonnes grading 15.6% KCl, and an Inferred MRE of 3.56B tonnes grading 15.6%
KCl (see press releases dated
December 29, 2025
and
November 17, 2025
), and we believe this
additional drilling in a previously untested area has the potential to add to the project's resource base.
An updated MRE will be undertaken upon completion of the drill program and will be incorporated into
the Company's ongoing Definitive Feasibility Study ("DFS"), which remains on track for completion by
the end of 2026."
The four hole drill program will focus on the southern and western extensions of the significant thick
potash sequences, locally exceeding 100m, encountered by previous drilling (see Figure 1).
The
Company's geological model suggests we are moving deeper into the evaporite basin and there is
strong potential to intersect the entire ten potash cycles with significant potash thicknesses.
This new
area of drilling is primarily covered by savannah, and an old road has been rehabilitated to provide
access from the town of Mayumba.
This is significant as it negates the need for barges and boat support
for shipping machinery and drilling supplies.
The estimated depth for each hole is 1,000m and the
program is planned for completion in Q4, 2026.
The Company will provide updates to the market
throughout the drill program and as analytical results and interpretations are completed.
Fig. 1 Location of drillholes for Phase 3 program.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4674/296979_2f6883e7143b2b67_001full.jpg
CLARIFICATION OF APRIL 15 NEWS RELEASE
The Company wishes to disclose that, in its news release dated April 15, 2026 (the "April 15 News
Release") it stated incorrectly that payments to Zacks Small Cap Research ("Zacks") for services would
be made (in the amount of US$8,750 each) on May 31, August 31 and November 30, 2026). The correct
payment dates are August 1 and November 1, 2026 and February 1, 2027. The Company also wishes to
disclose that, in addition to those services disclosed in the April 15 News Release, Zacks will also
provide to the Company Video Shorts, a CEO Interview and email distribution of materials.
The technical 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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and
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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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