Mr. Farhad Abasov reports

FURTHER EXPLORATION DRILLING EXPANDS EXTENSIVE BRINE HORIZONSA AND SHOWS STRONG LITHIUM GRADES AT PASTOS GRANDES

Millennial Lithium Corp. has provided positive drilling and analytical results from the latest complete exploration well at its Pastos Grandes project in Salta, Argentina. Exploration hole PGMW17-05/5c was drilled to a depth of 601 metres (m) and terminated in brine-bearing sand. This hole, coupled with the results of holes PGMW16-01 and PGMW16-02 (see news release dated Jan. 25, 2017), and PGMW17-04b (see news release dated June 27, 2017) confirm the extension of the brine throughout the central portion of the salar. Hole PGMW17-5c intersected an upper brine horizon grading 523 milligrams per litre (mg/L) lithium (Li) over 33 metres (m) (27.5 m to 60.5 m) and more importantly a robust brine horizon averaging a lithium grade of 545 mg/L from 381.7 m to 593 m.

Millennial chief executive officer Farhad Abasov commented: "At Millennial we are very encouraged to see that drilling in the Pastos Grandes salar continues to encounter very thick lithium-brine-bearing sequences in the central portion of the salar to a depth of approximately 600 m. The average lithium content of the lower brine horizon in hole PGMW17-05/5c is 545 mg/L over 211.3 m, similar to values and widths encountered in well PGMW17-04b located several kilometres west of well 5c. Millennial has increased its drilling fleet to three machines at Pastos Grandes to expedite the technical work in advance of a maiden resource estimate to be completed this fall."

Exploration well PGMW17-05/5c, drilled to a final depth of 601 m, was sampled using a double packer system which is designed to isolate sample intervals. In addition to 25 core samples for porosity determination, 17 brine samples were collected from well PGMW17-05/5c from two brine intervals; 27.5 m to 60.5 m; and 381.7 m to 593 m. The company expects brine yield from the entire section, however, sampling focused on the most productive zones. The upper brine zone returned an average lithium grade of 523 mg/L and an average magnesium/lithium ratio of 6.8. The lower main brine zone, measured from 381.7 m to 601 m, yielded an average lithium grade of 545 mg/L and an average magnesium to lithium ratio of 6.0. Individual lithium grades from the hole range from a low of 460 mg/L to a high of 574 mg/L. Potassium values range from 4,680 mg/L to 6,186 mg/L and average 5,847 mg/L over the lower brine zone intersection. Poorly consolidated clastic sediments, primarily sand, form the majority of the lower lithium-brine-bearing unit and continue to the bottom of the hole. Exploration well PGMW17-05c was terminated at 601 m as this was the maximum depth capacity for the drill rig in these conditions; the sand zone remains open at depth.

The completion of well PGMW17-05/5c to 601 m in a brine-bearing formation is further evidence of a robust lithium-bearing brine zone to significant depths in the centre of Millennial's land position at Pastos Grandes. Exploration well PGMW17-04b encountered similar stratigraphy with lithium-brine-bearing sands to the end of the hole at 564 m (see news release dated June 27, 2017). Millennial has added a third rig to the Pastos Grandes project that has greater capacity to drill deeper and define the base of the lithium-brine-bearing sands. This rig is currently drilling at exploration well PGMW17-07 on the western portion of the salar. In addition, the two original drill rigs continue to operate throughout the property in preparation for the modelling of a maiden resource due late third quarter or early fourth quarter of 2017.

Sampling was conducted in accordance with CIM guidelines for brine resource evaluation, with an appropriate quality assurance/quality control program in place for ensuring accuracy and precision of the analytical results.

Alex Stewart Laboratories of Mendoza, Argentina, and partner laboratory, Norlab SRL of Palpala, Jujuy, are the primary analytical providers. The laboratories have extensive experience with lithium brine analyses and are certified under ISO 17025, and in Alex Stewart's case, specifically for determination of lithium and potassium in liquid brines by use of ICP-OES.

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.