Millennial Potash launches definitive feasibility study at Banio Project in Gabon

Millennial Potash Chairman Farhad Abasov joined Steve Darling from Proactive to announce that the Company has formally initiated a Definitive Feasibility Study (DFS) for its flagship Banio Potash Project in Gabon, a major step in advancing the project toward development. To carry out the study, Millennial Potash has engaged a leading global potash-focused consulting firm with extensive experience in the West African Potash Basin to deliver an AACE Class 3 Definitive Feasibility Study. Abasov explained that the launch of the DFS follows the successful completion of the Company’s most recent Mineral Resource Estimate, which outlined a substantial resource base. The updated estimate defined Measured and Indicated Mineral Resources totaling 2.453 billion tonnes grading 16.6% potassium chloride (KCl), along with an additional Inferred Mineral Resource of 3.559 billion tonnes grading 15.6% KCl. Together with the commencement of the Environmental and Social Impact Assessment (ESIA), the DFS marks Millennial Potash’s transition from an exploration-focused company into the development phase of the Banio project. Importantly, the Company is fully funded to complete the DFS and all associated technical and trade-off studies. Millennial Potash is partnering with the U.S. International Development Finance Corporation (DFC), which has committed US$3 million to cover the costs of the feasibility study. Abasov noted that this support significantly de-risks the project at a critical stage and underscores the strategic importance of Banio as a long-life potash asset. Additional details regarding the Mineral Resource Estimate are available in the Company’s news releases dated November 17, 2025, and December 29, 2025. The DFS will assess the development of a solution mining operation, with a base-case production scenario of 800,000 tonnes per year of muriate of potash (MOP), while also evaluating the potential for significantly higher production rates. A wide range of technical studies are currently underway, including dissolution testing, hydrogeological investigations, salt creep testing, and evaluations of cold versus hot leaching methods. In parallel, the Company is examining port and logistics options, as well as conducting high-purity salt marketing studies to further optimize the project’s economic profile. The DFS will be conducted alongside the recently announced ESIA, with both studies expected to be completed in the second half of 2026. The results will be submitted to the government of Gabon as part of Millennial Potash’s application for a mining license. In the meantime, the Company plans to continue advancing the project through additional drilling and ongoing technical work as it moves Banio closer to production readiness. #proactiveinvestors #millennialpotahscorp #tsxv #mlp #otcqb #mlpnf #potash #CriticalMinerals #Potash #USGeologicalSurvey #FertilizerIndustry #USDFC #FoodSecurity #ResourceEstimates #MiningNews #GabonProjects #ProactiveInvestors