Business
Millennial Completes Milestone Payment and Increases Ownership of Its Banio Potash Project to 80%
West Vancouver, British Columbia--(Newsfile Corp. - April 15, 2026) - Millennial Potash Corp. (T...
About this update from Millennial Potash Corp
[{"type":"text","content":"Millennial Completes Milestone Payment and Increases Ownership of Its Banio Potash Project to 80%West Vancouver, British Columbia--(Newsfile Corp. - April 15, 2026) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) (\"MLP\", \"Millennial\" or the \"Company\") is pleased to announce that it has completed a milestone payment to the vendors of the Banio Potash Project in Gabon earning an additional 10% interest in Equatorial Potash (\"Equatorial\") which, through its Gabon subsidiary Mayumba Potasse, holds 100% of the project. The milestone payment was triggered by the filing of the updated Mineral Resource Estimate technical report on Dec. 29, 2025 (see press release dated Dec. 29, 2025) which was comprised of Measured Mineral Resources Estimate of 648.2M tonnes grading 15.7% KCl, an Indicated Mineral Resources Estimate of 1.8B tonnes grading 15.6% KCl, and an Inferred Mineral Resources Estimate of 3.56B tonnes grading 15.6% KCl (see press releases dated Dec. 29, 2025 and November 17, 2025). With this additional 10% interest MLP's total ownership of Equatorial increases to 80%. Millennial has a direct path to acquiring the final 20% of Equatorial Potash by completing a Definitive Feasibility Study (\"DFS\") and making certain cash and share payments to the vendors after filing the DFS. The DFS is progressing and is scheduled for completion by the end of 2026.Farhad Abasov, Millennial's Chair, commented \"We are very pleased to have increased our interest in the Banio Potash Project by an additional 10% bringing our total ownership to 80%. Millennial continues to advance our DFS and ESIA studies at the project and both are on schedule to be completed by the end of 2026. Upon completion of the DFS, and with a final cash/shares payment to the vendors, MLP's ownership will reach 100% of the project. The Company remains well funded to complete all the planned work programs for the DFS and the ESIA studies which will support our application for a Mining License in early 2027.\"The Company wishes to announce its engagement of Triomphe Holdings Ltd., doing business as Capital Analytica, as an arm's-length service provider, to provide certain marketing and social media services to the Company which are investor relations under the policies of the TSX Venture Exchange (the \"Exchange\") and applicable securities laws. Based in...