Millennial Potash Corp. Announces Appointment of Mr. Rick Lacroix as Director

Farhad Abasov, Millennial’s Chair, commented “We are very pleased that Mr. Rick Lacroix has decided to join the Millennial Potash Board.  Rick brings a wealth of potash expertise from extraction to marketing and transportation through top-level positions within Potash Corp. of Saskatchewan (now Nutrien) and Canpotex, a potash marketing organization of Canadian potash producers.  Rick also was a member of Allana Potash Corp. and was instrumental in Allana’s efforts in developing its potash project in Africa. More recently Rick was part of the Board of Directors of Millennial Lithium Corp. where he was involved in all aspects of Millennial Lithium Corp.’s Pastos Grandes Project which was acquired by Lithium Americas in early 2022.  We are looking forward to Rick’s contributions to our Board as we accelerate our exploration and development activities at our Banio Potash Project in Gabon.”

Mr. Lacroix has a B.Sc. Electrical Engineering from the University of Saskatchewan.  Mr. Lacroix began his potash career in 1981 and has extensive experience in all aspects of potash mining, processing, and marketing highlighted by 30+ years with Potash Corp. of Saskatchewan (now Nutrien).  Mr. Lacroix is a former Senior Vice President of Potash Corp of Saskatchewan (Nutrien) and former Director of Canpotex and former Chairman of Canpotex Bulk Terminals.  Most recently Mr. Lacroix served as a Director for Allana Potash Corp. He was also a director in Millennial Lithium Corp.  In addition to a comprehensive career in potash, Mr. Lacroix has also been involved in base metal mining operations in northern Canada and Ontario. Mr. Lacroix brings a wealth of experience in large-scale potash mining operations, product marketing, distribution, and transportation to the Company.

GRANT OF 100,000 INCENTIVE STOCK OPTIONS

The Company also wishes to announce that it has granted a total of 100,000 incentive stock options exercisable for a period of five (5) years at an exercise price of $0.50 per share.

TERMINATION OF OPTION TO ACQUIRE MOHAVE GOLD PROJECT

The Company also wishes to announce that it has elected to terminate its option on the Mohave Gold Project and has provided notice of termination to M3 Metals Corp. ("M3M").  M3M has acknowledged receipt of the termination notice and the Company and M3M have entered into a mutual release concerning the Mohave Gold Project.  The Company has no further obligations to M3M regarding the Mohave Gold Project.

MARCH 1, 2023 NEWS RELEASE (CLOSING OF PRIVATE PLACEMENT)

In some of the disseminated copies of the Company’s news release dated March 1, 2023 it was stated that the proceeds of the Company’s private placement were $3,951,500.  This is incorrect.  The correct proceeds (as stated in the title of the news release) were $3,591,500.

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 news release 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”, “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, 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 other currencies, fluctuations in the market for gold/silver and 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 Covid-19 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 affections such statements and information other than as required by applicable laws, rules and regulations.