Mr. Kyle Stevenson reports

MILLENNIAL LITHIUM ENTERS INTO AGREEMENT TO PURCHASE ARGENTINA LITHIUM PROJECT AND ANNOUNCES CONCURRENT FINANCING

Millennial Lithium Corp. has entered into a binding property purchase agreement to acquire 100 per cent of a lithium project in Salta province, Argentina, from an Argentine vendor, subject to TSX Venture Exchange approval and other customary conditions described therein. The project is strategically located within the Lithium Triangle, which is host to some of the world's largest lithium resources.

At this time, the company is not disclosing the project location or the project vendor because it is awaiting the outcome of negotiations for additional properties and disclosing the precise location of the project or the name of the vendor (which would also identify the project) could be harmful to the company's efforts in this regard.

The Salta province of Argentina is a well-known, favourable mining jurisdiction that hosts some of the world's largest lithium resources. A review of published data on the project clearly shows a prominent regional-scale structure with abundant evidence of hydrothermal activity.

The project salar is located in the elevated and arid Puna region and forms part of a number of highly mineralized salars in production and development, including, amongst others:

• Hombre Muerto salar -- Galaxy Resources (Australia Securities Exchange) and FMC Corp. (New York Stock Exchange);
• Olaroz salar -- Orocobre Ltd. (ASX);
• Rincon salar -- Enirgi group (private);
• Cauchari salar -- Lithium Americas (Toronto Stock Exchange) and SQM joint venture;
• Diablillos salar -- Lithium X Energy (TSX).

Under the terms of the agreement, Millennial can acquire a 100-per-cent interest in the project in consideration for the following payments and share issuances to the vendor:

• Paying a $200,000 (U.S.) deposit on execution of the agreement;
• Paying $500,000 (U.S.) and issuing $500,000 (U.S.) in common shares of the company on exchange approval of the definitive agreement;
• Paying $500,000 (U.S.) and issuing $500,000 (U.S.) in common shares of the company on the six-month anniversary of exchange approval of the definitive agreement;
• Paying $1-million (U.S.) on the 12-month anniversary of exchange approval of the definitive agreement.

A finder's fee equal to the maximum finder's fee permitted under the policies of the exchange will be paid to Synergy Resource Capital (described as follows) for introducing the project. The finder's fee will be paid in cash in tranches as the payments above are made to the vendor.

The project is subject to a 1.5-per-cent net smelter return royalty, which the company has the option to purchase for $3-million (U.S.).

Concurrent private-placement financing

The company currently has sufficient working capital to cover its operating expenses and planned expenditures on other properties for the next 12 months but will require additional capital to finance its commitments under the agreement.

As a result, the company is engaging in a non-brokered private-placement financing, the proceeds of which will finance its financial obligations resulting from the agreement. The financing will see the company issue a total of 2.5 million units at a price of 65 cents per unit. Each unit comprises one common share and one-half of a share purchase warrant exercisable for a period of two years at an exercise price of 90 cents. A finder's fee equal to 6 per cent will be payable on a portion of the financing.

About Synergy Resource Capital

Synergy Resource Capital is an investment and corporate advisory firm focused in connecting Latin American resource projects with investors worldwide. The firm relies on its extensive network of contacts and financial acumen to assist investors looking to acquire or invest in assets throughout the region, as well as companies seeking financing for expansion, growth and divestment. Synergy is based in Sydney, Australia, and has allies throughout the Americas.

The chairman of the company, Graham Harris, stated: "We are delighted to be back again working in Argentina. Our ability to acquire a significant lithium asset is resultant from our previous exploration experiences and networks in the country. We would like to thank all involved for helping us secure this strategic asset. We look forward to expanding our landholdings and announcing our plans for turning Millennial Lithium into a low-cost lithium producer."

This news release has been reviewed by Brent Butler, director and a qualified person, as that term is defined in National Instrument 43-101.

The agreement and the financing are subject to regulatory approval, including that of the TSX-V.

We seek Safe Harbor.