Millennial Potash Corp. provided an update on additional infrastructure build-up in the Mayumba region near the Company's Banio Potash Project. The Gabonese government, Perenco Oil & Gas Gabon (POGG), and Gabon Power Company signed a Memorandum of Understanding on April 6, 2023, for the development of a 21MW power plant to be powered by natural gas, and the installation of a gas collection network and treatment facility, with a 32km gas pipeline to the town of Mayumba.

The power plant is designed to meet electricity needs in rural areas as well as future domestic and industrial electricity needs of the Mayumba region. The Mayumba thermal gas power plant will be supplied with natural gas through a pipeline and associated equipment linking offshore oil fields operated by POGG. The thermal power plant will have an installed capacity of 21MW but will be expandable to 50MW.

A transformer station will be situated at Mayumba with a 20kV distribution line, and a transmission line will be constructed to the town of Tchibanga approximately 70km east of Mayumba as part of the government's initiative to provide electricity to southern communities. The new power plant at Mayumba is a significant infrastructure development for the region and will replace diesel generator supplied power. There is an ample supply of lower emission natural gas from offshore development and a dependable inexpensive power source will help drive development in the region.

The Company's Banio Potash Project could benefit significantly in the future from this development should a potash processing plant situated at Mayumba be a viable alternative for a potential operation. In addition, an important stage in the processing of potash brine from solution mining is thermal evaporation, and a natural gas source would be a significant benefit to a potential future mining and processing operation. Millennial's Banio Potash Project remains committed to sustainable development and has taken a number of steps to ensure that the Project is developed in a responsible manner.

These steps include the ongoing preparation of environmental management plans, community development programs, and stakeholder engagement initiatives. Millennial welcomes the decision taken to replace diesel generated power with lower emission natural gas as a significant step towards providing reliable power to the region while simultaneously reducing carbon emissions in the greater Mayumba area.