Drilling Progress At Pastos Grandes

November 22, 2016 05:00 ET

VANCOUVER, BRITISH COLUMBIA--(Nov. 22, 2016) - Millennial Lithium Corp. (TSX VENTURE:ML)(OTCQB:MLNLF) ("Millennial" or the "Company") reports on progress with the Phase I lithium brine drilling program at its Pastos Grandes Project in Salta, Argentina. The first drill hole of the current drilling program was successfully completed on time and within the cost target. The size of the brine aquifer and the composition of the sediments exceed expectations and the density of the brine recovered was favorable. Accordingly, pumping test well drilling has already begun.

The first drill hole, PGMW-16-01 was completed to a depth of 192 metres having encountered three brine aquifers over a total 94.5 meters (m), from surface to 13m, 19.5m to 66m, and 157m to the bottom of the hole. Originally planned to test depth to 350 metres, the hole was terminated in favor of completing a larger bore rotary hole that will more effectively penetrate the loose sediments of the lower aquifer. Results to date in terms of permissive aquifers and brine density are encouraging enough to proceed with the adjacent production-scale pumping test well. A second, larger drill has been mobilized to the site and has begun drilling PGPW-16-02 in readiness for a 24-hour pumping test.

VP of Development and Exploration, Iain Scarr states, "We are very encouraged with the drilling to date. In addition to identifiable brine saturated aquifers in the recent shallow sediments, the older deeper and coarser sediments include what appears to be either a brine-saturated unconsolidated sand or a major structure with free-flowing brine. Subsequent drill sites and in-fill drilling will be used to determine the extent of these encouraging conditions aerially and at depth."

Brine samples were collected down hole using a drive-point and we will employ a packer system targeting specific horizons as the hole is being completed as a monitoring well. Initial field testing of brine recovered from the aquifers at a density of 1.22g/cm3 is very promising. Brine from the packer testing and pumping tests will be used for field trials to validate the calculations for precipitation sequencing and lithium recovery, which will be used for pond sizing and conceptual design.

Sampling is being conducted in accordance with CIM guidelines for brine resource evaluation, with an appropriate QAQC program for ensuring accuracy and repeatability of the analytical results. Results will be reported promptly as laboratory analytical results are validated.

Proyecto Pastos Grandes, S.A., Millennial's Argentina subsidiary has engaged Alex Stewart Laboratories of Mendoza, Argentina as the primary analytical provider. The laboratory has extensive experience with lithium brine analyses and is certified under ISO 17025, and in Alex Stewart's case, specifically for determination of lithium and potassium in liquid brines by use of ICP-OES.

This news release has been reviewed by Iain Scarr, VP of Development and Exploration of the Company and a qualified person as that term is defined in National Instrument 43-101.

MILLENNIAL LITHIUM CORP.

Graham Harris, Chairman, Director

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 news release 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", "forecast", "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, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. 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 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 affections such statements and information other than as required by applicable laws, rules and regulations.

CONTACT INFORMATION

Millennial Lithium Corp.

Investor Relations

(604) 662-8184

info@millenniallithium.com

www.millenniallithium.com

Millennial Lithium Files Technical Report on Pastos Grandes

September 21, 2016

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 21, 2016) - Millennial Lithium Corp. (TSX VENTURE:ML), ("Millennial" or the "Company") is pleased to announce the filing on SEDAR of its NI 43-101 compliant Technical Report related to its Pastos Grandes Properties in Salta, Argentina (the "Technical Report").

The Technical Report is titled "Technical Report on the Pastos Grandes Project, Salta Province, Argentina, Prepared for Millennial Lithium Corp." and dated September 14, 2016.

The Technical Report references the Pastos Grandes Project which is strategically located within the Argentine portion of the "Lithium Triangle", which is host to some of the world's largest lithium resources. The Project is approximately 1200 hectares in size and ideally situated in the center of the Pastos Grandes Salar in Salta, Argentina.

Previous work identified in the report indicates the Pastos Grandes Salar exhibits significant lithium and potassium brines. The report presents information on historical exploration results including surface geochemical sampling, Magnetolluric (MT) surveying, CSAMT, vertical electrical sounding (VES) geophysical surveying and 4 pumping wells testing and measuring brine flows in aquifers in the salar.

This news release has been reviewed by Brent Butler, director, qualified person as that term is defined in National Instrument 43-101.

MILLENNIAL LITHIUM CORP.

Graham Harris

Chairman

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 news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 an applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "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, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. 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 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 affections such statements and information other than as required by applicable laws, rules and regulations.

CONTACT INFORMATION

Millennial Lithium Corp.
Investor Relations
(604) 662-8184
info@millenniallithium.com

www.millenniallithium.com

Millennial Lithium Closes Purchase of Pastos Grandes Lithium Project in Argentina and Closes Concurrent Financing for Proceeds of $4,875,000

September 16, 2016 

VANCOUVER, BRITISH COLUMBIA--(Sept. 16, 2016) - Millennial Lithium Corp. (TSX VENTURE:ML), ("Millennial" or the "Company") wishes to announce that it has closed (the "Closing") its acquisition of the Pastos Grandes Lithium Project (the "Project") in Argentina and has also closed its concurrent private placement financing (the "Financing"). The acquisition constituted a Fundamental Acquisition under the policies of the Exchange and was first announced in a news release on July 19, 2016.

Closing of the Acquisition of the Pastos Grandes Lithium Project:

Millennial has received Exchange approval for, and closed, its acquisition of the Project.

The Company entered into a definitive agreement (the "Definitive Agreement") with Jorge Enrique Moreno and Alba Silvia Salas (the "Vendors") dated September 16, 2016 to acquire a 100% interest in and to the Project. The Definitive Agreement replaced an earlier agreement (the "Initial Agreement") disclosed in the July 19, 2016 news release.

Under the terms of the Definitive Agreement, Millennial will complete its purchase of a 100% interest in the Project in consideration of the following payments and share issuances to the Vendor:

1. Paying to the Vendors a $200,000 (US) deposit (the "Deposit") on execution of the Initial Agreement (completed);

1. Paying to the Vendors $500,000 (US) (the "First Installment") on closing (completed) and issuing 500,000 common shares (the "First Share Installment") to the Vendors (completed);

1. Paying, on April 6, 2017, $500,000 (US) (the "Second Installment") to the Vendors and issuing to the Vendors $500,000 (US) (the "Second Share Installment") worth of the Company's common shares;

1. Making exploration expenditures of $1,600,000 (US) (the "Required Exploration Expenditures") on or before September 16, 2017; and

1. Paying to the Vendors $1,000,000 (US) (the "Final Payment") on or before October 6, 2017.

1. Upon payment of the Deposit above, $10,000 (US)payable to the Finder (paid);

1. Upon payment of the First Instalment, $25,000 (US) payable to the Finder (paid) and issuance to the Finder of 25,000 shares (the "Closing Finder's Shares") of the Company (issued);

1. Upon payment of the Second Instalment, $25,000 (US) payable to the Finder and issuance to the Finder of 25,000 shares of the Company; and

1. Upon payment of the Final Payment, $50,000 (US) payable to the Finder.

The initial shares issued to the Vendors under (i) above are subject to a hold period expiring on January 17, 2017. The shares issued to the Vendors in (iii) above will be subject to an Exchange hold period expiring four months from their date of issuance.

A finder's fee (the "Finder's Fee") on the Project of 5% of all cash payments paid and shares issued to the Vendors is payable, to Synergy Resource Capital Pty Ltd. (the "Finder"), as those cash payments are paid and as those shares are issued. Accordingly, the Finder's Fee is payable as follows:

All shares issued to the Finder, including the Closing Finder's Shares are subject to an Exchange hold period expiring four months from their date of issuance. The hold period on the Closing Finder's Shares expires on January 17, 2017.

The Project is subject to a royalty (the "Royalty") equal to 1.5% of the gross annual sales of lithium from the Project net of value added taxes and other taxes applicable to the sale of lithium. The Royalty comes into effect on October 6, 2019. At any time until October 6, 2019, the Company can terminate the right of the Vendors to the Royalty in consideration of a payment in the amount of $3,000,000 (US) to the Vendors.

The Project is strategically located within the Argentine portion of the "Lithium Triangle", which is host to some of the world's largest lithium resources. The Project is approximately 1200 hectares in size and ideally situated in the center of the Pastos Grandes Salar in Salta, Argentina. The region exhibits significant lithium and potassium brines and historically the Project has been tested by surface geochemical sampling, Magnetolluric (MT) surveying, CSAMT, vertical electrical sounding (VES) geophysical surveying and by 4 pumping wells testing and measuring brine flows in aquifers with significant lithium and potassium assays. Millennial is planning to continue with exploration and development of the Project and expects to report on such exploration plans in the coming weeks.

Closing of the Concurrent Financing:

The Company has closed its private placement Financing of 7,500,000 units at $0.65 per unit for proceeds of $4,875,000. Each unit is comprised of one common share and one-half of one share purchase warrant (a "Unit"). Each whole share purchase warrant (a "Warrant") is exercisable for a period of two years from closing at an exercise price of $1.00.

The Units, and any common shares of the Company issued upon exercise of the Warrants, are subject to a four month hold period expiring on January 17, 2017.

Commissions of up to 6%, payable in cash or units at the finder's option, have been paid in connection with a portion of the Financing. This resulted in the payment of $106,938.20 in cash and the issuance of 164,137 Units.

All Units issued to the finders, and any common shares of the Company issued upon exercise of the Warrants in their units, are subject to a four month hold period expiring on January 17, 2017.

Proceeds of the Financing are to be used to meet the Company's obligations under the Definitive Agreement including funding Required Exploration Expenditures on the Project.

This news release has been reviewed by Brent Butler, director, qualified person as that term is defined in National Instrument 43-101.

MILLENNIAL LITHIUM CORP.

Graham Harris, Chairman

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 news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 an applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "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, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. 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 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 affections such statements and information other than as required by applicable laws, rules and regulations.

CONTACT INFORMATION

Millennial Lithium Corp.
Investor Relations
(604) 662-8184
info@millenniallithium.com

www.millenniallithium.com

Millennial Forms Technical Advisory Board

September 12, 2016 

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2016) - Millennial Lithium Corp. (TSX VENTURE:ML), ("Millennial" or the "Company") has established a highly skilled and experienced Technical Advisory Board for its lithium development activities which includes the Pastos Grandes lithium project in Salta province, Argentina.

Millennial welcomes Vijay Mehta and Ben Binninger to advance technical development and cost optimization at Pastos Grandes. As advisors to Millennial's technical board they will be called on to provide insights based on their deep knowledge of lithium brine processing and extensive global expertise in mineral and chemical processing. Both individuals have prior working experience with this part of South America. In addition they will be offering guidance and direction with respect to future exploration of the Pastos Grandes and other lithium projects under consideration.

We are pleased to have the benefits of these members on the technical advisory board with their wealth of technical knowledge that will augment the decision making of Millennial's existing experienced board members.

Biographies of Technical Advisory Board Members

Vijay Mehta

Dr. Mehta (PhD) comes to Millennial Lithium with an extensive forty-five years of experience in the field of Ore and Brine based technology. The technology, which is used for the recovery of Lithium, Potash, Magnesium and Boron, produces cost effective commercial scale high purity chemical products.

Dr. Mehta has been previously responsible for coordination and communications with lithium producers around the world, wherehe compared processing technologies and production costs as well as created a competitive analysis for the lithium capacity and demand. With a perspicacity for chemistry and the manufacturing process of lithium and magnesium chemicals, Dr. Mehta continues to demonstrate his extraordinary capabilities to advance the technology for this industry.

G. A. Ben Binninger

G. A. Ben Binninger is a chief executive with extensive experience leading and creating technically sophisticated processes and service companies ranging from small business to globally industry leaders including Rio Tinto, Hercules and Arco. With skills in mergers & acquisitions, turnarounds and public offerings, Mr. Binninger brings an unusual combination of global management, strategic positioning, technical acumen and financial expertise to Millennial. His hands on operating and processing experience in chemicals, materials and mining provide a depth of knowledge to The Company.

Most recently Ben was a director and served as Chief Executive Officer for ASX listed Potash Minerals. He is a principal in IMEx Minerals, LLC and K2O Resources, LLC and was a Principal in AMT II Corporation, a private investment management company focusing on advanced materials and aerospace. Mr. Binninger has a Master's in business administration from the Harvard Business School (HBS) as well as a Bachelor of chemical engineering degree from Manhattan College. He has taught international business management at UCLA and studied at Stanford University and INSEAD in France.

The Company would also like to correct a statement included in the August 24, 2016 release. The statement should have read, "Millennial made application to the Provincial mining authority of Salta, for an additional 4,236 hectares of mineral claims adjacent to the 1,219 hectare Pastos Grandes project." This is the correct wording originally contained in the August 15, 2016 release.

MILLENNIAL LITHIUM CORP.

Graham Harris, Chairman, Director

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 news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

CONTACT INFORMATION

Millennial Lithium Corp.

Investor Relations

(604) 662-8184

info@millenniallithium.com

www.millenniallithium.com