Mr. Farhad Abasov reports

MILLENNIAL POTASH EXPANDS HIGH-GRADE POTASH MINERALIZATION AT DEPTH INCREASING POTASH THICKNESS TO 80 METERS IN THE NORTHERN PART OF THE BANIO PROJECT

Millennial Potash Corp. has released analytical results from the extension of historic drill hole BA-002. Millennial Potash has extended hole BA-002 to a depth of 552.50 metres and has intersected additional intervals of potash mineralization beyond the previous drilling depth. Potash Cycle IV returned 17.1 per cent KCl over 4.16 m and potash Cycle III returned 18.7 per cent KCl over 4.76 m, extending the number of potash cycles intersected in BA-002 to six and increasing the cumulative thickness of potash mineralization that may be amenable to solution mining to approximately 80 m.

Farhad Abasov, Millennial's chair, commented: "Millennial Potash is excited to announce that the extension to drill hole BA-002 has successfully intersected two new high-grade seams, one attributed to Cycle IV and the other to Cycle III, with potash mineralization, each thicker than four m, and with potash contents from 17.1 per cent KCl to 18.7 per cent KCl. The cumulative potash seam thicknesses from drill hole BA-002 from Cycle III to Cycle VIII are almost 80 m and have the potential to be amenable to solution mining. These promising results will be incorporated into the project database and will provide additional zones of potash mineralization for a mineral resource estimate that will be based only on the northern part of the project which is currently in progress. We expect the maiden mineral resource estimate to be released in coming weeks. This drill hole extension completed by Millennial Potash correlates very well with the historical drill core and other geological data. It also exceeds our expectations regarding the potash horizon thicknesses in the north."

Drill hole BA-002 was extended from 516.25 m to 552.5 m for a total of 36.25 m of both PQ- and HQ-sized core. The two new potash seams are interpreted as part of Cycle IV and Cycle III in the evaporite basin and comprise pervasive bright red nodular carnallite with minor laminated interbeds and interstices of halite in the carnallite masses. The attached table summarizes the composited sample results for the carnallitite seams in the extension of BA-002 and given the near-horizonal nature of the basin geology and bedding intersected true widths are interpreted as being drilled widths. The zones between the two cycles are characterized by continuous near-horizontal, laminated bedded halite and halite rich in insoluble material at the base of Cycle IV. The addition of potash cycles IV and III in hole BA-002 increases the cumulative thickness of potash zones that are potentially amenable to solution mining to 79.6 m. In addition, the presence of cycles IV and III enhances the tonnage potential for the project and given the strong correlation of geology and potash cycles between the upper parts of holes BA-002 and BA-003, the potential for the presence of cycles IV and III throughout the basin in this area is considered very high. Data from extended hole BA-002 and hole BA-003, including resampling data, form the basis for a potential initial mineral resource estimate (MRE) for the North target which is currently in preparation by ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH.

The phase 1 drill program at Banio remains in progress with additional drilling planned at the North target, including the extension of BA-001 and the drilling of new hole BA-004. The drill rig experienced mechanical difficulties during the retrieval of PQ rods in BA-002 and is currently undergoing minor repairs. Drilling is expected to resume later in Q4 2023.

Quality assurance/quality control

Millennial Potash employees follow standard operating and quality assurance procedures intended to ensure that all sampling techniques and sample results meet international reporting standards. Procedures for handling core samples begin with securing the potash-bearing PQ-to-HQ-sized core at the drill site in plastic poly tubing which is then thermally sealed. Core is placed in plastic core boxes and transported to Millennial's camp for geological logging, detailed geotechnical logging and photographing. Significant intervals are dry cut in half for HQ core or quartered for PQ core, using a specially modified tungsten carbide bladed core saw. Half (HQ size) and quarter core (PQ size) samples are then double bagged and thermally sealed prior to transporting to Libreville by Millennial personnel. The remaining core is resealed in plastic poly tubing and the core boxes secured at Millennial's exploration camp in air-conditioned containers to prevent deterioration of the potash minerals. Upon arrival in Libreville core samples are stored at Millennial's storage facility and then taken to the Gabon Ministry of Mines & Energy where permission is obtained to export the samples. The bagged samples are then carefully packed into wooden crates and shipped via DHL to the Saskatchewan Research Council (SRC) in Saskatoon. This sampling procedure was initiated by ERCOSPLAN, Millennial's potash consulting firm, supervised by Millennial's chief executive officer Jason Wilkinson, MSc, Sebastiaan van der Klauw, EurGeol, from ERCOSPLAN, and periodically reviewed by Millennial director Dr. Peter J. MacLean, PhD, PGeo.

Millennial is utilizing SRC's potash inductively coupled plasma analysis package designed for multielement analysis of potash samples. Upon arrival at SRC Geoanalytical Laboratories, core samples are dried, and jaw crushed to 95 per cent minus at two millimetres and 100-gram subsample is split out using a riffler and transferred to vials. The subsample is pulverized to 95 per cent at minus 106 microns using a puck and ring grinding mill to create a pulp. The grinding mills are cleaned between groups using Quintus quartz. The pulp is then transferred to a labelled plastic snap top vial. An aliquot of pulp is placed in a test tube with 15 millimetres of 30-degree DI water. The sample is shaken. The soluble solution is then analyzed by inductively coupled plasma optical emission spectroscopy. The method is suitable for the soluble analysis of commercial potash (sylvite and carnallite). The samples are analyzed for iron oxide (weight per cent), potassium oxide, sodium oxide, magnesium oxide and calcium oxide and a suite of trace elements. Br and Cl are determined using inductively coupled plasma mass spectrometry and a gravimetric determination of the insoluble content for each sample is made. Millennial/ERCOSPLAN did not insert blanks due to the limited number of samples, but this will be part of the company's sampling protocol in future drill programs. SRC's internal protocol includes the insertion of internal standards and repeats, and review of these data shows no significant deviation from the accepted values. SRC Geoanalytical Laboratories has been certified by the Standards Council of Canada (SCC) to conform to the requirements of ISO/IEC 17025:2005 (CAN-P-4E).

This news release has been reviewed by Mr. van der Klauw, EurGeol, of ERCOSPLAN, and Dr. MacLean, PhD, PGeo, director of the company, and both are qualified persons as that term is defined in National Instrument 43-101.

We seek Safe Harbor.