Mr. Robert Drago reports

MILLENNIUM SILVER CORP. ANNOUNCES PRIVATE PLACEMENT AND STOCK OPTION GRANT

Millennium Silver Corp. has arranged a non-brokered private placement of up to 150 million units at 1.5 cents per unit for gross proceeds of up to $2.25-million. Each unit is composed of one common share and one non-transferable share purchase warrant. Each warrant shall have a term of five years from the date of issuance, and shall entitle the holder to purchase one additional common share at an escalating exercise price as follows: five cents per share within the first three years after issuance and 10 cents per share in years four and five.

Closing of the private placement is subject to customary closing conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. Proceeds from the private placement will be used for exploration, pursuant to the company's 2019 National Instrument 43-101 technical report, accounts payable and working capital.

The company may pay up to 6-per-cent finders' fees to eligible finders in accordance with applicable securities laws and the policies of the TSX-V.

Insiders may participate in the private placement including subscriptions from related parties of the company as defined in Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The participation of insiders in the private placement is expected to be exempt from formal valuation and minority shareholder approval requirements pursuant to exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, will not exceed 25 per cent of the company's market capitalization.

Stock option grant

The company also announces the issuance of 8.16 million stock options with an exercise price of five cents per share for the purchase of up to 8.16 million shares of the company, expiring Jan. 14, 2031. The stock options are being issued to directors, officers, employees and consultants of the company, and are subject to approval by regulatory authorities.

Millennium Silver is focused on the exploration and development of its Nevada projects. The company's common shares trade on the TSX Venture Exchange under the symbol MSC.

We seek Safe Harbor.