Millennial Welcomes Gabon Minister of Mines to Banio Potash Project Site
Rhea-AI Summary
Millennial Potash (OTCQB: MLPNF) hosted Gabon’s Minister of Mines and key officials at its Banio Potash Project on July 5-6, 2026. The government reiterated support and indicated assistance with infrastructure and regional initiatives.
The company continues a 4-hole drilling program to extend resources beyond the current MRE of 648.2M tonnes Measured, 1.8B tonnes Indicated, and 3.56B tonnes Inferred, all around 15.6–15.7% KCl. Millennial Potash also adopted semi-annual financial reporting under CBO 51-933 and will file audited annual and six-month statements while ceasing first- and third-quarter reports.
Positive
- Gabon government reiterates support and plans infrastructure assistance for Banio project
- Banio MRE totals about 6.0B tonnes across Measured, Indicated, Inferred categories
- Ongoing 4-hole drilling program aims to extend potash resources in 2026
- Definitive Feasibility Study and Environmental and Social Impact Assessment advancing
Negative
- Adoption of semi-annual reporting reduces quarterly financial disclosure frequency
- Annual revenues under $10 million to qualify for CBO 51-933 exemption
News Market Reaction – MLPNF
In the Jul 8 session, MLPNF gained 4.26%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Millennial Adopts Semi-Annual Reporting Under CBO 51-933
West Vancouver, British Columbia--(Newsfile Corp. - July 8, 2026) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") is pleased to announce that a high-level field visit to the Company's Banio Potash Project in Gabon was completed on July 5-6 by the Gabonese Minister of Mines and Geological Resources, Mr. Sosthene Nguema Nguema, as well as the Director General of Geology and Mining Support, the Director General of Mining Exploitation, the Governor of Nyanga Province, Mr. Jean Robert Mabobet, and various other local government officials.
Farhad Abasov, Millennial's Chair, commented, "The visit by Minister Nguema and the Governor of Nyanga Province provided an important opportunity for the Gabonese Government and local stakeholders to witness first-hand the scale of the Banio Potash Project being developed by Millennial, the ongoing field work, the resource potential, and the involvement of Gabonese workers on site. The visit was a very important event at this stage of our development as the Gabonese government pledged full support in terms of the infrastructure build-up and other aspects of the project. We appreciate the constructive engagement and the strong expression of support for the Project as we continue advancing Banio in a responsible and technically disciplined manner."
Minister Nguema toured the Company camp and logistics facilities at the project and attended a technical presentation by the Company on potash and the benefits of fertilizer application to food security, and the potential benefits a project of this magnitude can bring to the region. The Minister inspected potash-rich drill core and expressed his satisfaction at visiting the Banio Potash Project operation site and camp. Minister Ngeuma reiterated Government support for the Banio Potash Project and expressed that the Government would assist with infrastructure and other initiatives in the region. The delegation also had the opportunity to review drilling at BA-006 drill site where the drill team was actively changing rods. The Minister was particularly pleased to see the ongoing rig operation and to observe young Gabonese workers actively working and learning alongside experienced expatriate specialists. Additional potash core was also visible at the drill site, which further supported the technical discussions conducted during the visit.
Millennial Potash continues exploration drilling to potentially extend potash resources south and west of the current project Mineral Resource Estimate ("MRE") which is comprised of Measured Mineral Resources Estimate of 648.2M tonnes grading
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Photo 1 and 2: Minister of Mines Mr. Sosthene Ngeuma Ngeuma and Mayumba Potasse General Manager Valvy Pandi review potash rich drill core at the Banio Potash Project
MILLENNIAL ADOPTS SEMI-ANNUAL REPORTING UNDER CBO 51-933
The Company wishes to announce that it has elected to adopt semi-annual financial reporting in reliance upon exemptions from quarterly reporting contained in Coordinated Blanket Order 51-933, Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers ("CBO 51-933").
The Company confirms that it meets the eligibility criteria under CBO 51-933, as it is a venture issuer with its securities listed on a recognized exchange, has annual revenues of less than
Pursuant to CBO 51-933, the Company is electing not to file interim financial reports and related management's discussion and analysis ("MD&A") for the first and third quarters of its fiscal year.
The Company's fiscal year ends on August 31. The first interim period for which the Company will rely on the exemption is the nine-month period ended May 31, 2026, for which the Company will not file interim financial statements or related MD&A.
The Company will continue to file audited annual financial statements and related MD&A, as well as interim financial statements and related MD&A for its six-month periods.
This disclosure is being filed pursuant to Coordinated Blanket Order 51 - 933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.
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. 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/304336