Millennial Potash Corp. has formally kicked off a Definitive Feasibility Study (DFS) for its Banio Potash Project in Gabon, engaging ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH to deliver an AACE Class 3 evaluation. The study is fully funded through a US International Development Finance Corporation commitment of US $3 million, ensuring coverage of all feasibility study costs and associated trade-off analyses. This engagement marks Millennial’s transition from exploration to development, paving the way for a forthcoming mining license application with the government of Gabon.

Recent Mineral Resource Estimates underpinning the DFS revealed Measured and Indicated resources of 2,453 billion tonnes grading 16.6% KCl, alongside Inferred resources of 3,559 billion tonnes at 15.6% KCl. These figures were disclosed in news releases dated December 29, 2025 and November 17, 2025, providing a solid anchor for the project’s long-term production potential. Project chair Farhad Abasov emphasized that the substantial resource base justifies both the base-case scenario and the larger, optional production rates to be evaluated in the DFS.

Parallel to the DFS, Millennial has launched an Environmental and Social Impact Assessment (ESIA), with both studies slated for completion in the second half of 2026. The engineering scope includes solution‐mining design targeting 800,000 tonnes per year of muriate of potash (MOP) as a base case, with assessments of higher throughput scenarios. Ongoing technical workstreams cover dissolution and hydrogeological tests, creep analysis, leaching temperature comparisons, port logistics options, and high‐purity salt marketing studies. Results will inform Millennial’s mining license submission and guide further drilling campaigns to optimize project economics.