Millennial Precious Metals Corp. to provide final assay results from the recently completed resource conversion and exploration drill program at its Wildcat project located in Nevada, USA. The Phase 1 drill program at Wildcat consisted of 12 holes, totaling 1,250m.

The program was designed for mineral resource conversion, to gather material for geotechnical and metallurgical analysis, and to test gold mineralization below the oxidation profile. Phase 1 drilling will support the updated mineral resource estimate and PEA expected to be released following the completion of metallurgical column testing and various mining studies. Highlights: Drillhole WCCD-0005 returned intercepts of 0.36 g/t oxide Au over 17.7m and 0.55 g/t oxide Au over 68.6m, directly below the 2020 NI 43-101 pit shell.

Drillholes WCCD-0008, WCCD-0009, and WCCD-0011 returned intercepts of 0.36 g/t oxide Au over 51.8m, 0.40 g/t oxide Au over 30.5m, and 0.29 g/t oxide Au over 69.5m, respectively. Drillhole WCCD-0012 returned intercepts of 0.34 g/t oxide Au over 30.5m and 0.41 g/t Au over 54.9m (oxide and mixed), 150m outside the 2020 NI 43-101 pit shell. WCCD-0005 was drilled to gather material for metallurgical studies and to test the highly brecciated oxide material in the eastern part of the 2020 NI 43-101 pit shell.

WCCD-0005 intercepted 70m of mineralization outside the current oxide pit with the oxidation profile visible 30m deeper than previously modeled. WCCD-0012 is located 250m east of WCCD-0005 and was designed as a step-out hole to test the oxide continuity and geotechnical characteristics of the area. WCCD-0012 extends the oxide mineralization by 150m to the east of the pit.

WCCD-0008 was drilled for metallurgical testing in the center of the north pit, at the highest elevation point at Wildcat. WCCD-0009 and WCCD-0011 were drilled to gather geotechnical data to test the expected north-east high wall. WCCD-0009 and WCCD-0011 demonstrated excellent grade continuity towards the edge of the oxide pit, which is expected to limit dilution in a future mining scenario.

Excluding the high-grade intercept, the residual grade of WCCD-0008 is 0.24 g/t oxide Au over 32.0m, which is above the cut-off grade of 0.15 g/t Au. Assay results were also received from a deeper intercept of previously reported drillhole WCCD-0004, which were delayed for additional geotechnical analysis. In addition to the reported intercept of 0.93 g/t oxide Au over 41.4m (see news release from August 16, 2022), WCCD-0004 also intercepted 0.74 g/t Au over 38.1m in fresh material.

All reported drillholes from the Phase 1 program intersected the rhyolitic tuff breccia, which represents the bulk of the mineralization at Wildcat Main Hill. Overall, Phase 1 drilling at Wildcat demonstrated strong grade continuity, no overburden coverage (extremely low strip ratio), and excellent rock competency for favourable pit slope angles, all of which are attractive characteristics for a potential heap leach operation. WCCD-0012 was the final drillhole of the Phase 1 program at Wildcat that was intended to intersect mineralization, therefore no additional assay results from the program will be reported.

Major achievements of the Phase 1 drill program at Wildcat: Material collection for metallurgical and geotechnical analysis; Enhanced understanding of local geology and primary mineralization controls; Successful infill drilling to support mineral resource conversion; Successful step-out drilling to support mineral resource growth; Oxidation profile visible is deeper than previously modeled; and New exploration targets identified for near-term resource growth. In addition to the Phase 1 drill program at Wildcat, Millennial also recently completed a regional mapping and sampling program which was highly successful in identifying several new mineralized vent systems (primary control of mineralization) and significantly expanding the mineralized footprint at Wildcat to 3.0km x 2.0km (previously estimated at 1.5km x 1.5km at the Main Hill). Millennial expects to drill test the new targets once the Exploration Plan of Operations (PoO) has been received from the Bureau of Land Management.

Drill core at the Wildcat project is drilled in NQ to PQ size ranges (47.6mm to 85mm). Drill core samples are minimum 50cm and maximum 200cm long along the core axis. All core is sampled, at the exception of the overburden.

All of Millennial's drilling samples and field samples were prepared and analyzed at American Assay Laboratories ("AAL") in Sparks, Nevada.  Sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2mm, sample splitting using a riffle splitter, and pulverizing a 250g split to at least 85% passing 75 microns. Thirty-gram aliquots of the pulps material were analyzed at AAL for gold by fire-assay fusion with an ICP finish. When requested by MPM geologists, silver and 49 major, minor, and trace elements were determined by ICP and ICP-MS following an aqua-regia digestion of 0.5-gram aliquots.

Samples that assayed greater than 5.0 g/t Au were re-analyzed by fire-assay fusion of 30-gram aliquots with a gravimetric finish. Commercial CRMs and blanks material were inserted as pulps at a frequency of approximately every 20th sample. Approximately 5% of the samples were randomly selected for coarse duplicate re-assays.