Mr. Graham Harris reports

MILLENNIAL LITHIUM BEGINS NI 43-101 RESOURCE DEFINITION AT PASTO GRANDES AND GEOPHYSICS AT CAUCHARI EAST

Millennial Lithium Corp. has engaged Montgomery and Associates Inc., a U.S.-based hydrogeological consultancy, to provide drill program and pumping test guidance and complete a National Instrument 43-101-compliant resource estimate at the Pastos Grandes project. The Pastos Grandes project, covering over 6,000 hectares of the Pastos Grandes salar in Salta, Argentina, has been the subject of several recent exploration drill holes, all of which indicate significant lithium brine from surface to depths exceeding 400 metres.

Following completion of the phase I program, Millennial and its consultants have determined that a compliant lithium resource can be estimated with a budget that is significantly less than previously envisioned. These net savings are primarily due to drilling cost reductions and reduced drilling frequency as calculated by the company's consultants. As a result, the company will be amending the financing previously announced on Feb. 22, 2017.

The new terms of the financing will be 4.5 million units at a price of $1.25 for gross proceeds of $5.65-million. Each unit will consist of one common share and one-half share purchase warrant, each whole share purchase warrant being exercisable into a common share for $1.50. The company will not be accepting any further subscription agreements and is aiming to close by March 24, 2017. Current working capital of Millennial prior to any of this financing is $2.5-million.

In addition to overseeing continuing operations in Argentina, management recently completed a tour through Japan, Hong Kong, China and Thailand where management was introduced to a number of strategic partners and/or end-users. Although these relationships are at a very early stage, non-disclosure agreements have been executed with several parties.

"While there is no certainty that any definitive agreements will arise from the five NDAs signed to date, it is encouraging to see the level of interest from potential strategic partners and end-users at this early stage of our development. Millennial looks forward to completing an NI 43-101 resource estimate and further its talks with these groups. We appreciate the significant cost savings that Montgomery & Associates has identified," reports Graham Harris.

Cauchari East

Millennial also reports it has initiated a ground geophysics program at its Cauchari East project in Jujuy province, Argentina. Cauchari East covers an area of 2,990 hectares on the eastern side of the Cauchari-Olaroz salar, adjacent to Orocobre's producing Salar de Olaroz and Lithium Americas Corp.'s Cauchari-Olaroz project.

The geophysics program consists of a vertical electrical sounding (VES) survey comprising seven profiles, four on the northern block and three on the southern unit. The method is suitable for detecting layering in soils, top of bedrock, groundwater table and saltwater intrusions. The latter two applications in particular are of particular use for identifying subsurface brine and the interface with near-surface fresh water at Cauchari East.

Historic gravity and magnetotelluric (MT) survey profiles to the south of the property, reported in the Orocobre technical report, and VES survey results to the north of the property, as reported by Lithium Americas, both indicate that the brine-hosting aquifers extend beneath the Cauchari East project.

This news release has been reviewed by Iain Scarr, AIPG, CPG, chief operating officer of the company and a qualified person as that term is defined in National Instrument 43-101.

We seek Safe Harbor.