West Vancouver, British Columbia--(Newsfile Corp. - November 5, 2026) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") wishes to clarify recent comments made by Gabon's Minister of Mines regarding State participation in mining projects.

In a recent interview, Gabon's Minister of Mines outlined the government's plans to further develop the country's mining sector. He named several major projects as key drivers of Gabon's economic growth and diversification, including Millennial's Banio Potash Project, and he reaffirmed the government's full support for its development.

The Minister also said that the Ministry of Mines is reviewing the Mining Code. In that context, he referred to a possible 20% State share in production sharing. These comments led some Millennial shareholders to ask how this proposed change might affect the Company's project.

Following these statements, Millennial representatives contacted the Ministry of Mines for clarification. The Ministry explained that the figure mentioned relates to a production sharing contract model it is considering for the mining sector, similar to the framework widely used in Gabon's oil and gas industry. This concept is at a very preliminary stage, and its structure, terms and conditions, including any percentage, have yet to be defined. No formal decision has been made and no official announcement has been made about its adoption, in the short or the longer term.

The Ministry also confirmed that any fiscal terms negotiated under the Mining Code rules present or future, will be in accordance with the principle of equilibrium meaning ensuring fair economic treatment of mining companies.

Under the current Mining Code, the State is entitled to a 10% free-carried interest in mining projects. All other terms, fiscal and otherwise, are negotiated as part of the exploitation permit application and the related mining convention. The Mining Code review is ongoing, and no amendment to the current Code has been adopted or officially announced.

Should the government proceed with any new mining code it would be adopted as follows: Once the draft text is finalized, the Ministry would submit it to mining operators through their representative organization, UMIGA (Millennial is a member of UMIGA), so that companies are fully involved and can present their views. The text would then be finalized and sent to Gabon's Parliament for adoption, and then to the President of the Republic for promulgation. The whole process would be expected to take five to twelve months.

Any future revisions would not apply to companies that hold exploration permits or are in an exploration phase. Their rights and conditions will remain governed by the legal and contractual framework in force when their titles were granted.

Farhad Abasov, Chairman of Millennial, commented:

"We fully understand the questions and concerns raised by our shareholders following the Minister's recent comments, and we greatly appreciate their continued confidence and support during a period of heightened market volatility.

I would like to reassure our shareholders that Millennial remains fully engaged with the Gabonese Government and is working constructively and closely with the Ministry of Mines to advance the Banio Potash Project. Our objective is clear: to establish a mutually beneficial framework that supports Gabon's economic development objectives while ensuring the long-term commercial viability of the project and protecting the interests of Millennial's shareholders.

It is also important to emphasize the consistently strong support that Millennial has received from the President of Gabon and his office, the Ministry of Mines and other senior Government officials throughout our three years of operations in the country. This support has been instrumental in advancing the Banio Project and reflects the strategic importance that the Government attaches to developing Gabon's mining sector.

Our team continues to work closely with the Ministry of Mines, the U.S. International Development Finance Corporation (DFC), and our other financing, infrastructure and logistics partners to advance the project across all critical workstreams, including permitting, project development and negotiations of the fiscal framework and maintaining the project's development momentum and delivering long-term value for both Gabon and our shareholders."

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 or production sharing requirements, 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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Source: Millennial Potash Corp.