Millennial nears full ownership of Gabon potash project, DFS targeted for year-end

TSX-V-listed Millennial Potash Corporation has completed a milestone payment to the vendors of the Banio potash project, in Gabon, which earned Millennial an additional 10% interest in Equatorial Potash, taking its total ownership to 80%.

In turn, Equatorial Potash fully owns the Banio project through its Gabon subsidiary Mayumba Potasse.

The milestone payment was triggered by the filing of an updated mineral resource estimate in December 2025, which announced measured resources of 648-million tonnes grading 15.7% potassium chloride.

Millennial has a direct path to acquiring the final 20% of Equatorial Potash by completing a definitive feasibility study (DFS) on the project and making certain cash and share payments to the vendors.

The company anticipates completion of the DFS, as well as that of environmental- and social-impact assessment studies, by the end of the year.

Millennial says it remains well funded to complete all the planned work programmes for the DFS and other studies, which will support its application for a mining licence by early 2027.