Millennial Potash attends PDAC with Gabonese minister

Executive Summary

• Millennial Potash Corp. facilitated a high-level visit by the Gabonese Minister of Mines, Sosthene Nguema Nguema, to the PDAC conference in Toronto, highlighting strong government support for the Banio Potash Project as part of Gabon's economic diversification away from oil and gas.
• The company has initiated a Definitive Feasibility Study (DFS) and an Environmental and Social Impact Assessment (ESIA), both expected to be completed in the second half of 2026 to support a mining license application.
• The Banio project holds significant mineral resources, including a measured resource of 648.2 million tonnes at 15.7% KCl, an indicated resource of 1.8 billion tonnes at 15.6% KCl, and an inferred resource of 3.56 billion tonnes at 17.6% KCl.

Key Details

• Government Engagement: Minister Sosthene Nguema Nguema and his delegation met with Canadian and U.S. investment banking groups and media outlets (including The Financial Times) to promote Gabon's openness to mineral investment.
• Project Status: Millennial has advanced the Banio project from early-stage exploration to the feasibility-study stage in less than three years.
• DFS and ESIA Timeline: The Definitive Feasibility Study and Environmental and Social Impact Assessment are running in parallel and are expected to be completed in the second half of 2026.
• Licensing: Completion of the DFS and ESIA will support the company's application for a mining license to the Gabonese government.
• Mineral Resource Estimates:
  • Measured: 648.2 million tonnes grading 15.7% KCl.
  • Indicated: 1.8 billion tonnes grading 15.6% KCl.
  • Inferred: 3.56 billion tonnes grading 17.6% KCl.
• Financial/Strategic Backing: The project is funded and supported by top asset management firms and the U.S. Development Finance Corporation (DFC).
• Strategic Context: The Gabonese government is prioritizing diversification of its economy away from dependence on oil and gas, viewing Millennial as a model for project development in the country.

Notable Quotes

• Farhad Abasov, Chair of Millennial Potash Corp.: "We were very pleased to host Minister Nguema and the high-level Gabonese delegation from the Ministry of Mines and Geological Resources at the PDAC conference in Toronto... Millennial has successfully developed our Banio potash project from an early-stage exploration stage to the feasibility-study stage in less than three years, and has consistently had strong support from the Gabon government."
• Farhad Abasov, Chair of Millennial Potash Corp.: "We look forward to the Gabonese government's continued support as we expect to complete our DFS and ESIA in 2026 to support our application for a mining licence."