Millennial Potash Applauds the Official Addition of Potash to the 2025 List of Critical Minerals as Financial Times Mentions U.S. DFC Commitment to Millennial's Banio Potash Project in Gabon

Rhea-AI Summary

Millennial Potash (OTCQB: MLPNF) welcomed potash being added to the U.S. 2025 List of Critical Minerals (Nov 6, 2025) and highlighted a US$3 million Project Development Program commitment from the U.S. International Development Finance Corporation (DFC) for the Banio Potash Project in Gabon. The DFC funding will support a Feasibility Study and is described as de‑risking the project ahead of potential U.S. financing.

Key project metrics cited include a PEA after‑tax NPV10% US$1.07B, IRR 32.6%, operating cost US$61/tonne, recent drilling showing up to 200m of potash horizons, and a revised Mineral Resource Estimate underway.

Positive

• U.S. DFC committed US$3 million to Banio project development
• PEA shows after‑tax NPV10% US$1.07 billion
• PEA reports a 32.6% IRR for the Banio Project
• Low reported operating cost of US$61 per tonne
• Recent drilling confirmed up to 200 meters of potash horizons

Negative

• DFC funding is for a Feasibility Study; project not yet financed
• Revised Mineral Resource Estimate is pending; resources unfinalized
• Industry supply concentration remains high (Canada, Russia, Belarus)

West Vancouver, British Columbia--(Newsfile Corp. - November 10, 2025) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") commends the recent announcement that potash has officially been added to 2025 List of Critical Minerals, released on Nov. 6^th 2025 by the U.S. Geological Survey. This inclusion in the Official List comes as the U.S. International Development Finance Corporation ("DFC") commits US$3 million in project development funding for Millennial's Banio Potash Project in Gabon, recognizing its strategic role in potentially strengthening U.S. and West Africa food security and supply chain resilience.

Farhad Abasov, Chair of Millennial, commented: "The official recognition of potash as a critical mineral by the U.S. government is a major milestone for our industry. For Millennial, it highlights Banio's unique position as a potential new, low-cost supply source of potash for the U.S. agricultural sector and beyond. With the US DFC funding in place, strong support from the Government of Gabon, and our project's direct shipping route to U.S. ports, Banio is strategically aligned with America's food security and supply chain priorities. In addition, Banio can potentially become the first African potash mine to supply potash to the African continent which currently imports all its potash. It is great to see the Financial Times (Nov.7, 2025) talking about the DFC's role in mining projects in Africa including its project development funding for Millennial Potash. The timing of the decision to add potash to the critical minerals list is important as we are gearing up to complete our revised Mineral Resource Estimate in coming weeks."

U.S. DFC Backing De-Risks Banio Potash Project

The DFC's strategic investment in Banio is designed to de-risk the Project and prepare it for potential future U.S. project financing. DFC is the U.S. Government's development finance institution that partners with the private sector to mobilize capital for strategic investments around the world. The strategic investment in Millennial, done under the DFC's Project Development Program, will support a Feasibility Study ("FS") on the Company's Banio Potash Project (see MLP news release dated July 9, 2025). DFC is very active in Sub-Saharan Africa with approximately US $13 billion invested across 300 projects in 26 countries. Recently DFC has approved a US $465M loan to Serra Verde to help fund expansion of the Pela Ema rare earth's mine in Brazil in an effort to develop alternative supply chains for critical minerals. The DFC's role in mining projects including their investment in Millennial Potash was recently mentioned in the Financial Times.

Potash: Now a U.S. Strategic Priority

Potash is essential for global agriculture but is overwhelmingly supplied by just a few countries - Canada, Russia, and Belarus. By adding potash to the Official Critical Minerals List, the U.S. government has acknowledged its vulnerability to supply shocks and trade restrictions. This proposed recognition is intended to guide federal strategy and investment toward securing diverse, stable, and geopolitically reliable sources of supply.

Banio Potash Project: A Direct Atlantic Supply Route to the U.S.

Millennial's Banio Potash Project sits on Gabon's Atlantic coast, offering a short, cost-efficient shipping route directly to the United States as well as Brazil, the world's largest potash importer, and of course, Africa. Unlike inland projects, Banio benefits from proximity to infrastructure, ongoing construction of a port at Mayumba, and a new regional power plant all of which reduce delivery risk and strengthen its position as a potential future cornerstone supplier to the U.S. agricultural market and beyond.

The Project has already demonstrated potentially strong economics, with a Preliminary Economic Assessment (PEA) showing an after-tax NPV10% of US$1.07 billion, a 32.6% IRR, and operating costs of only US$61 per tonne of granular potash (see MLP news release dated April 23, 2024) Recent drilling results confirmed up to 200 meters of potash-rich horizons at the North Target, with further resource expansion potential and a revised mineral resource estimate calculation underway (see MLP news releases dated September 16, 2025 and October 14, 2025).

To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or email at info@millennialpotash.com. 

Keep up-to-date on Millennial Potash developments and join our online communities on: Twitter, Facebook, LinkedIn, Instagram and YouTube.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273752

FAQ

What did Millennial Potash announce about the U.S. critical minerals list on Nov 6, 2025?

The company noted that potash was added to the U.S. 2025 Official List of Critical Minerals on Nov 6, 2025.

How much did the U.S. DFC commit to Millennial Potash's Banio Project (MLPNF)?

DFC committed US$3 million under its Project Development Program to support a Feasibility Study for Banio.

What are the Banio Project's PEA economics cited by Millennial Potash (MLPNF)?

The PEA cited an after‑tax NPV10% of US$1.07 billion, a 32.6% IRR, and operating costs of US$61/tonne.

Does the Banio Project have confirmed potash mineralization and when is the revised resource expected?

Recent drilling confirmed up to 200 meters of potash horizons and a revised Mineral Resource Estimate is underway in coming weeks.

How does Banio's location affect its supply route to the U.S. for MLPNF investors?

Banio sits on Gabon's Atlantic coast with a direct, short shipping route to U.S. ports and regional infrastructure developments.

Will the DFC commitment fully fund Banio's development for MLPNF shareholders?

No; the US$3 million is earmarked for project development and the Feasibility Study, not full project construction financing.