Oxide Mineralization Extended East Of Proposed Pit At Wildcat Project

TORONTO - Millennial Precious Metals Corp. reported on the recently completed resource conversion and exploration drill program at its Wildcat project located in Nevada. The Phase 1 drill program at Wildcat consisted of 12 holes, totaling ~1,250m. The program was designed for mineral resource conversion, to gather material for geotechnical and metallurgical analysis, and to test gold mineralization below the oxidation profile. Phase 1 drilling will support the updated mineral resource estimate and PEA expected to be released following the completion of metallurgical column testing and various mining studies.

In addition to the Phase 1 drill program at Wildcat, Millennial also recently completed a regional mapping and sampling program which was highly successful in identifying several new mineralized vent systems (primary control of mineralization) and significantly expanding the mineralized footprint at Wildcat to ~3.0km x 2.0km (previously estimated at ~1.5km x 1.5km at the Main Hill). Millennial expects to drill test the new targets once the Exploration Plan of Operations (PoO) has been received from the Bureau of Land Management.

Jason Kosec, President, CEO & Director of Millennial commented, "We are extremely pleased with the final results from the Phase 1 drill program at Wildcat. WCCD-0005 and WCCD-0012 returned significant intercepts outside the 2020 NI 43-101 pit shell, demonstrating immediate resource growth potential. In addition, the deeper than anticipated oxidation profile is expected to be a positive catalyst for the updated mineral resource. Overall, the Phase 1 program at Wildcat was a big win for the Company. We were able to successfully gather critical geotechnical and metallurgical material for the updated mineral resource and PEA, enhance our geological understanding of the deposit, and identify multiple high-priority drill targets for resource growth. We look forward to continuing our success into 2023, which will be a pivotal year for the Company."