Millennial Announces Initiation of Phase 3 Drill Program at Its Banio Potash Project

• Millennial Potash Corp. has commenced Phase 3 drilling at its Banio Potash Project in Gabon on May 12, 2026.
• The program consists of four new drillholes totaling approximately 4,000m, targeting extensions south and west of known mineralization.
• Two holes (BA-007 and BA-008) are located on the newly acquired Haute Banio exploration permit.
• Objectives include updating the Mineral Resource Estimate (MRE) to support the Definitive Feasibility Study (DFS), scheduled for completion by end of 2026.
• Infrastructure improvements include rehabilitation of an old road from Mayumba, reducing reliance on barge transport.
• Administrative corrections were made regarding payment dates to Zacks Small Cap Research and service provider engagements.

• The initiation of Phase 3 drilling is a planned operational milestone consistent with the February 2026 announcement targeting H2 2026 drilling on the Haute Banio permit.
• It confirms management is adhering to the DFS completion timeline announced in January and March 2026.
• No new resource data or financing terms are disclosed; therefore, it does not materially alter valuation expectations compared to previous announcements.
• The news validates progress but lacks the surprise element required for a "Material - Positive" rating given the prior detailed roadmap.

• Company: Millennial Potash Corp., TSX Venture listed.
• Flagship Project: Banio Potash Project in Gabon (Atlantic Coast).
• Project Stage: Transitioning from exploration to development; currently conducting DFS and ESIA.
• Resource Base: Measured + Indicated 2.45Bt @ 15.6% KCl; Inferred 3.56Bt @ 15.6% KCl (as of Nov 2025).
• Ownership: Increased to 80% in April 2026, with a path to 100% upon DFS completion and vendor payment.
• Economics: Preliminary Economic Assessment indicated NPV10 of US$1.07Bn and IRR of 32.6%.