Mr. Farhad Abasov reports

MILLENNIAL LITHIUM CORPORATION FINALIZES PURCHASE OF CORE PASTOS GRANDES PROPERTIES

Millennial Lithium Corp. has completed the payments and executed the transfer deed to acquire the core mining properties for its flagship Pastos Grandes project.

As previously announced (press release dated July 19, 2016), under the terms of the agreement, Millennial could 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.

Based on the results of its highly successful drilling and pumping tests campaigns, the company elected to complete the purchase terms with the final payment and execution of the transfer deed, exercised effective Oct. 5, 2017.

These first core properties controlled by Millennial comprise four mining tenements, for a total of 1,219 hectares. Since entering into the agreement, the company has acquired four additional contiguous mining licences of 4,953 hectares bringing the total area under the company's control to 6,172 hectares. In addition to this the company was also awarded contiguous 2,492 hectares by Remsa pending the signing of the final agreement as the company reported in the past news releases. This will bring the total area under the company's control to 8,664 hectares.

Millennial Lithium president and chief executive officer, Farhad Abasov, commented: "We are very pleased that our work to date has advanced our Pastos Grandes lithium brine project on schedule and to the level of confidence that has enabled us to complete the full acquisition of these critical core properties. Our work is on track to deliver on our next significant milestones such as the National Instrument 43-101 resource report."

Millennial currently has four drilling machines on-site, completing drill holes PGMW17-07(d), -08(b), -10 and -11, which will finalize drilling for the maiden resource definition program. Other activities on-site include pilot evaporation trials and bulk sampling for back-end process trials. The company has selected the provider for the environmental baseline study and has received all submittals for the preliminary economic assessment.

In other areas, Millennial has completed the drilling at the Cruz project, obtained permits for drilling the Pocitos West project and has achieved a permitting milestone for Cauchari East that should soon see the permit issuance for drilling that project.

Analytical results for the Cruz project did not meet expectations, and Millennial has elected to not exercise the option. The company has notified the tenement holders of the termination of the agreement.

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.