Red Canyon Gold Project Phase 1 Drill Campaign

TORONTO - Millennial Precious Metals Corp. reported the inaugural laboratory results for its Phase 1 drill campaign at the Red Canyon project located in Nevada.  Red Canyon is a Carlin-style, sediment-hosted gold project in the heart of the Battle Mountain-Eureka mineral trend, located 50 km northwest of the town of Eureka.  The property consists of 6,500 acres (2,600 hectares) containing several target zones. In early May, Millennial commenced Phase one of a 12-drill hole program designed to tighten the geological controls and three-dimensional geometry of gold mineralization at the Heavenly target zone. The results presented herein are from the first two drill holes completed in this phase of drilling.

Key Points: Phase 1 drill holes are designed to test the extents of oxidized mineralization in the central zone of the Heavenly target, while validating gold values and lithology; Gold assay results from holes -001RD and -002RD report oxidized mineralization throughout the full extent of the two drill holes; Information provided by these first two holes indicates the gold mineralization is stratabound hosted in calcareous siltstone dipping moderately to the southeast; and Mineralization is open to the south and southeast.

Composite highlights of holes -001RD and -002RD include: Drillhole HVN-2021-001RD returned a wide high-grade intercept of 2.6 g/t over 22 meters, including 3.0 g/t over 19 meters, with local grades as high as 7.72 g/t over 1 meter; and Drillhole HVN-2021-002RD returned high-grade intercepts of 4.54 g/t over 54 meters, including 9.18 g/t over 22 meters, with local high grades of 19.16 g/t over 5 meters.

"We are very excited to have this initial data from our drill program at Red Canyon and we expect similar results from the remaining ten holes over the coming weeks. Exploration is very active in Nevada, we are fortunate to have received these optimistic results in such a timely manner," said, Jason Kosec, President and CEO. "The mineralization potential at the Heavenly zone is very promising. This program will test the boundaries of mineralization and expand our current understanding of the geology at Red Canyon as a whole."

The first phase of this drill program at Red Canyon includes 2,200m in 12 planned drill holes at the Heavenly target zone. The Heavenly zone is one of several primary targets across 6 square km of outcropping alteration in Devonian-age sedimentary rocks. The Heavenly target consists of oxidized Carlin-style mineralization (jasperoid- and clay-altered sedimentary rocks). Gold mineralization occurs within a calcareous siltstone and mineralized fault zones up to 200 meters wide over a strike length of at least 600 meters.

These first holes establish grade continuity and geometry and increase the confidence in the geologic model at the Heavenly the target. Compiled with historical data, the drill program will continue to expand the footprint for oxidized mineralization in the Heavenly target area to the west and east, encompassing an area approximately 200 x 800 meters in size. Mineralization intercepted in hole -002RD represents 85-90% true width of the gold zone hosted in the calcareous siltstone.