Millennial Potash intersects potash cycles at Banio project, Gabon
West Vancouver, British Columbia--(Newsfile Corp. - August 26, 2026) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") is pleased to announce that it has completed drillhole BA-006 at the North Target on its Banio Potash Project in Gabon. As part of Millennial's Phase 2 drill program BA-006 was completed to a depth of 674m, intersected the evaporite-bearing Salt Sequence and was open to depth from approximately 332m to the bottom of the hole. Within the Salt Sequence, BA-006 intersected approximately 80m of potash mineralization in seams characterized by interbedded carnallite and halite.
Farhad Abasov, Millennial's Chair, commented: "Millennial is excited to announce another highly successful drill result at the Banio Potash Project. Results of this drillhole are significant in many ways:
Drillhole BA-006 was the first hole drilled near the newly acquired permit area closer to the coast, southwest of the previous drillholes.
The drillhole has once again confirmed a significant section of interbedded carnallitite and halite including numerous thick carnallitite potash seams totalling approximately 80m of cumulative potash mineralization.
This new drillhole significantly expands the known potash footprint to the southwest of the current Mineral Resource Estimate ("MRE") area.
This is a strategic area for the Company as it is closer to the coast and closer to the planned deep-water port site.
It is important to note that this drillhole intersected Cycles IX and X which had not been previously seen at the project suggesting potential additional potash seams to the west.
The mineralization is open at depth which indicates we have even more resource expansion potential. We look forward to completing the detailed logging and sampling of these potash horizons and receiving their analytical results. Once all drill data has been interpreted and compiled, an updated MRE will be completed to form a key foundation for the ongoing Definitive Feasibility Study ("DFS"). The DFS remains on track for completion by the end of 2026."
Drillhole BA-006 is collared approximately 4km west of drillhole BA-001 and was designed to test the westward extension of potash mineralization encountered in drillholes BA-001, and the southward extension from BA-002 (See Figure 1). Preliminary logging of BA-006 indicates that approximately 6 evaporite cycles (Cycles V to X) have been intersected with potash mineralization intersected in each cycle. It is important to note that BA-006 intersected Cycles IX and X which had not previously been encountered at the project which suggests the thickness of potash mineralization may be increasing to the west. It is also important that the termination of BA-006 in Cycle V in potash mineralization was due to reaching the depth capabilities of the drill rig and the mineralization remains open at depth as Cycles IV and III have been encountered in BA-002 and BA-001.
Review of the drill core from BA-006 shows prominent horizontal bedding planes dominated by interbedded halite and carnallite (see Photos 1 and 2 below). An estimate of the cumulative thickness of the main carnallitite seams from the preliminary logging totals approximately 80m. Detailed core logging and final interpretation of evaporite cycle and seam identification, as well as downhole geophysical logging, are ongoing. Core preparation and sampling will be completed over the next several weeks and samples submitted to the Saskatchewan Research Council for analyses.
Figure 1: Location of BA-006 and planned drillholes with the 2025 MRE outline.
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4674/311427_14394aa23442c934_001full.jpg
The objectives of the Phase 2 program were to evaluate the presence of potash-rich horizons at depth and laterally and to provide geological data on the continuity and characteristics of the potash mineralization beyond the current MRE completed in 2025. Identification of additional potash horizons outlined in BA-006 has extended the known potash mineralization southwest and could potentially add tonnage to the project's calculated resources which are currently comprised of a Measured MRE of 648.2M tonnes grading 15.7% KCl, an Indicated MRE of 1.8B tonnes grading 15.6% KCl, and an Inferred MRE of 3.56B tonnes grading 15.6% KCl (see press releases dated Dec. 29, 2025 and November 17, 2025). The geological data from BA-006 will be included in an updated MRE planned for completion by the end of 2026 as part of completion of the Definitive Feasibility Study mentioned above.
Photo 1: Red Carnallite-rich core from BA_006 showing interbedded banded and Carnallite with banded Halite at approx. 491.3m to 4495.3m depth
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4674/311427_14394aa23442c934_002full.jpg
Photo 2: Red Carnallite-rich core from BA-006- with interbedded Carnallite and bedded Halite at approx. 662.3m to 665.3m depth
To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4674/311427_14394aa23442c934_003full.jpg
The Company has also engaged Micon International, in partnership with Zenito Ltd. and Agapito Associates LLC, to expedite and complete its Definitive Feasibility Study on the Banio Potash Project. ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH will continue to support the project providing geological expertise on the Gabon-Congo Basin and drilling support with geology interpretations for the ongoing drill program.
The technical information in this news release has been reviewed and approved by Peter J. MacLean, Ph.D., P. Geo. (Ontario), Director of the Company, who is a Qualified Person as that term is defined in National Instrument 43-101.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662 8184 or email at info@millennialpotash.com .
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MILLENNIAL POTASH CORP.
"Farhad Abasov" Chair of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental (including land or water use), local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for potash or potash related products, changes in exploration costs and government royalties, export policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company's current plans, expectations and intentions with respect to development of its business and of the Banio Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Banio Potash Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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TMX Newsfile
August 26, 2026 - 5:00 AM PDT
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