Millennial Potash Corp. announced that the situation on the ground in Gabon remains calm and MLP's operations at its Banio Potash Project remain unaffected by the recent change in government. In addition, MLP reported that the extension of historic drillhole BA-002 has been completed to a depth of 552.50m and several intervals of potash mineralization have been intersected.

Millennial's senior management and local Gabon country manager have engaged with representatives of the UN and other international bodies and report that Gabon remains calm and that recent political events have had no impact on the ongoing exploration programme at its Banio Potash Project. New Gabonese leaders have given assurances that all commercial agreements, licenses, and permits will remain in place. Gabon is an OPEC member that produces approx.

200,000 barrels of oil daily and major producers Maurel and Prom, BW Energy and others have indicated all offshore and onshore operations are continuing as normal. In addition, Eramet has resumed production at its large manganese operation after a brief temporary shutdown on Aug. 30.

A recent article by Oxford Economics Africa (Political Focus-Gabon, 05/09/2023) maintains its Low-Moderate risk level for the country, lower than before the political events, a similar level to Ghana, Namibia, South Africa, and Morocco, and trending neutral. The article also reiterates that the business and policy environments will remain broadly unchanged. Millennial will continue its current drilling program and will closely monitor the situation in Gabon.

The Phase 1 drill program is in progress and the extension of historic hole BA-002 has been completed to a depth of 552.5m. Preliminary interpretations indicate that evaporite Cycles IV and III with beds of massive nodular carnallite and minor halite have been intersected. Core is currently being logged and sampled and will be expedited to the Saskatchewan Research Council ("SRC") Potash Laboratory in Saskatoon for analysis.

The drill rig is currently mobilizing to historic hole BA-001 to complete an approx. 250m extension from the bottom of the historic hole to test for additional potash cycles. Data from extended holes BA-002 and BA-001, and BA-003, including re-sampling data, are expected to form a basis for a potential initial maiden Mineral Resource Estimate (MRE) for the North Target.

No drillholes from the South Target, scheduled to be tested in late 2023/early 2024, will be included in this initial MRE.