Exploration Plan Of Operations For The Wildcat Project

TORONTO - Millennial Precious Metals Corp. has submitted an Exploration Plan of Operations (EPO) to the Bureau of Land Management (BLM) for its Wildcat project located in Nevada. Millennial  also provided a summary of the exploration and de-risking activities completed in 2022 and a preview of key catalysts in 2023.

Jason Kosec, President, CEO & Director, said, "We are extremely excited to announce the submission of the EPO for Wildcat, our flagship project in Nevada. The proposed EPO project boundary of 12,432 acres will allow for 400 acres of surface disturbance, which is a is a significant upgrade from the 5 acres we were limited to during Phase 1 drilling. Once approved by the BLM, the EPO at Wildcat will unlock value for shareholders, allowing for an expanded Phase 2 drill program aimed at the high-priority targets identified in 2022. In the meantime, Millennial is focused on completing metallurgical testing and engineering studies for the updated mineral resource and PEA for Wildcat and Mountain View expected to be released in H1 2023."

Environmental baseline resource studies were conducted throughout the 2022 field season in advance of submitting the EPO, including a field inventory of biological and cultural resources within the 12,432-acre EPO project boundary. The environmental baseline studies will serve as the foundation for continued advancement of Wildcat through the exploration and pre-development phases and will also be used as the basis for an Environmental Assessment ("EA") as required by the National Environmental Policy Act (NEPA). As a federal agency, the BLM is responsible for preparing an EA in accordance with NEPA to identify any significant environmental impacts of the proposed EPO. Millennial has engaged a third-party consultant to assist with the preparation of the EA and is committed to working closely with the BLM to ensure that the process is completed in a timely manner.

The proposed EPO covers 12,432 acres within Millennial's 17,612-acre land package at Wildcat. Phase 1 drilling at Wildcat was confined to 5 acres of total surface disturbance under the current Notice of Operations, whereas the proposed EPO includes up to 400 acres of disturbance over several stages, beginning with 85 acres of disturbance in the first stage. The EPO will allow for expanded exploration drilling of new mineralized targets and resource infill drilling to further define the current mineral resource area. In preparation for the Mine Plan of Operations (MPO), the EPO also allows for water well drilling for hydrogeologic characterization and geotechnical test pits/trenches to characterize geotechnical conditions in the prospective mineral processing area.

Wildcat is located within the Farrell mining district in Nevada, 56km north of the town of Lovelock within Pershing County. The property can be accessed by year-round roads from Lovelock via State Route 399 and Seven Troughs Road. The 17,612-acre land package consists of 916 unpatented claims and 4 patented claims. The claims are located on publicly-owned lands administered by the BLM. The mineralization at Wildcat consists of a gold-dominated, low sulphidation, epithermal vein system with oxidized, disseminated sulphide mineralization hosted in volcanic and intrusive rocks.