Millennial Potash Reports Robust Potash Mineralization in BA-006 Proximal to the Coast Intersecting New Potash Cycles and Expanding Potash Mineralization to the Southwest at its Banio Potash Project in Gabon

Millennial Potash Corp. completed drillhole BA-006 at its Banio Potash Project in Gabon to a depth of 674m. The hole was collared approximately 4km west of BA-001, southwest of prior drilling and near the newly acquired Haute Banio permit area. BA-006 intersected the evaporite-bearing Salt Sequence, which remained open from approximately 332m to the bottom of the hole at 674m.

Preliminary logging indicates approximately 80m of cumulative potash mineralization in seams characterized by interbedded carnallite and halite. Approximately six evaporite cycles, Cycles V to X, were intersected, with potash logged in each cycle. Cycles IX and X had not previously been encountered at Banio, suggesting additional potash seams and possibly greater thickness to the west. Mineralization remains open at depth because the hole ended in potash mineralization when the drill rig reached its depth capability; Cycles IV and III, seen in earlier holes, were not reached.

No assay results are reported for BA-006. Core logging, downhole geophysical logging, core preparation, and sampling are still ongoing, with samples to be submitted to the Saskatchewan Research Council. The company reiterated an updated Mineral Resource Estimate and Definitive Feasibility Study targeted for completion by end-2026.

Current MRE: - Measured: 648.2Mt at 15.7% KCl - Indicated: 1.8B tonnes at 15.6% KCl - Inferred: 3.56B tonnes at 15.6% KCl

Millennial Potash Corp. (MLP) released an incremental step-out drill update, marking a continuation of its ongoing Definitive Feasibility Study (DFS) for its 6-billion-tonne potash resource. The company’s stock has seen significant volatility over the past year, trading from a 52-week high of CAD 3.89 in December 2025 down to CAD 1.73 in March 2026, before recovering to CAD 2.77 by August 25, 2026.

The latest results, specifically the 80-meter visual preliminary logging figure from hole BA-006, are not directly comparable to prior anchored results such as BA-004 and BA-001-EXT, which featured assayed intercepts with known grades and greater thickness. Because the new data lacks grade, it carries less evidentiary weight than previous assays. However, the update represents a successful step-out in terms of logged geological continuity, identifying new cycles and open depth without damaging the underlying investment thesis.

The primary market-relevant upside from this release is both logistical and geological, as potash appears to persist closer to the coast and the planned port, with new cycles potentially increasing the total package. While encouraging, these findings require assays and follow-up drilling to become material. For the pre-revenue developer, the key value catalysts remain the updated Mineral Resource Estimate (MRE), the completion of the DFS and Environmental Social Impact Assessment (ESIA), and progress toward a mining license. This release serves as supportive background rather than a fundamental change to the company’s outlook.

Millennial Potash Corp. (TSXV: MLP, OTCQB: MLPNF, FSE: X0D) is a Canadian junior focused on the Banio Potash Project in Gabon, a large marine evaporite carnallitite/sylvinite system designed for solution mining. The company increased its ownership in the project from 70% to 80% in April 2026, with a path to 100% upon the completion of a definitive feasibility study (DFS) and subsequent payments. Following the grant of the Haute Banio permit, the land package expanded to approximately 1,500 square kilometres.

A resource estimate from late 2025 identified a Measured resource of 648.2Mt at 15.7% KCl, an Indicated resource of 1.8B tonnes at 15.6% KCl, and an Inferred resource of 3.56B tonnes at 15.6% KCl. A preliminary economic assessment (PEA) reported an after-tax NPV10 of approximately USD 1.07B, an internal rate of return (IRR) of 32.6%, and operating costs of about USD 61/t for granular MOP. The U.S. DFC has committed USD 3M in project development funding to support feasibility work.

Financial results for the six months ended February 28, 2026, showed no revenue and a net loss of CAD 6.85M. The company held cash of CAD 28.8M and working capital of CAD 30.3M, accompanied by a going-concern flag. As a pre-revenue entity, Millennial Potash relies on periodic equity financing to advance the project.