Millennial Potash Files Updated Mineral Resource Estimate Report for Its Banio Potash Project

The most recent news release (December 29, 2025) confirms the filing of an updated NI 43-101 Technical Report for the North Target of the Banio Potash Project in Gabon. This filing formalizes the massive resource expansion first headlined on November 17, 2025. The report, effective November 11, 2025, establishes a maiden Measured Resource of 648.19 million tonnes (MT) at 15.72% KCl and an Indicated Resource of 1,804.54 MT at 15.57% KCl. Total Measured and Indicated (M&I) resources now stand at 2.45 billion tonnes, with an additional 3.56 billion tonnes in the Inferred category.

The impact is significantly positive as it provides the required regulatory framework to move toward a Definitive Feasibility Study (DFS). - Resource Scale: The jump in M&I resources (up 275% from previous estimates) places Banio among the largest undeveloped potash deposits globally. The inclusion of a Measured category for the first time is critical for the upcoming bankable feasibility study. - Strategic Validation: This filing supports the US International Development Finance Corp (DFC) commitment of $3.0 million for the feasibility study, highlighting the project's strategic importance for Western food security. - Execution Reliability: Management has successfully transitioned from "soft" news (drill results) to "hard" technical data (MRE filing) within the projected Q4 2025 timeline, increasing corporate credibility.

Millennial Potash Corp. is focused on the Banio Potash Project in the Republic of Gabon. The project is situated in a well-known evaporite basin (Congo-Gabon Basin) and benefits from proximity to the Atlantic coast, offering significant logistics advantages for shipping to Brazil, the US, and across Africa. The project utilizes solution mining and conventional processing. The recent resource update covers only the "North Target," suggesting further exploration potential in the southern portion of the license.