Millennial Precious Metals Corp. announced that on December 30, 2022, the Company submitted an Exploration Plan of Operations (EPO) to the Bureau of Land Management (BLM) for its Wildcat project located in Nevada, USA. Millennial is also provided a summary of the Company's exploration and de-risking activities completed in 2022 and a preview of key catalysts in 2023.

The proposed EPO project boundary of 12,432 acres will allow for 400 acres of surface disturbance, which is a is a significant upgrade from the 5 acres the company were limited to during Phase 1 drilling. Once approved by the BLM, the EPO at Wildcat will unlock value for shareholders, allowing for an expanded Phase 2 drill program aimed at the high-priority targets identified in 2022. In the meantime, Millennial is focused on completing metallurgical testing and engineering studies for the updated mineral resource and PEA for Wildcat and Mountain View expected to be released in H1 2023." Wildcat Exploration Plan of Operations: Environmental baseline resource studies were conducted throughout the 2022 field season in advance of submitting the EPO, including a field inventory of biological and cultural resources within the 12,432-acre EPO project boundary.

The environmental baseline studies will serve as the foundation for continued advancement of Wildcat through the exploration and pre-development phases and will also be used as the basis for an Environmental Assessment ("EA") as required by the National Environmental Policy Act ("NEPA"). As a federal agency, the BLM is responsible for preparing an EA in accordance with NEPA to identify any significant environmental impacts of the proposed EPO. Millennial has engaged a third-party consultant to assist with the preparation of the EA and is committed to working closely with the BLM to ensure that the process is completed in a timely manner.

The proposed EPO covers 12,432 acres within Millennial's 17,612-acre land package at Wildcat. Phase 1 drilling at Wildcat was confined to 5 acres of total surface disturbance under the current Notice of Operations, whereas the proposed EPO includes up to 400 acres of disturbance over several stages, beginning with 85 acres of disturbance in the first stage. The EPO will allow for expanded exploration drilling of new mineralized targets and resource infill drilling to further define the current mineral resource area.

In preparation for the Mine Plan of Operations ("MPO"), the EPO also allows for water well drilling for hydrogeologic characterization and geotechnical test pits/trenches to characterize geotechnical conditions in the prospective mineral processing area. 2022 Exploration and De-Risking Activities: -- Phase 1 d drilling at Wildcat (12 holes, totaling 1,250m) and Mountain View (27 holes, totaling 7,200m). Significant results include: -- Mountain View: 185.5m of 1.48 g/t oxide Au, 128.3m of 1.73 g/t oxide Au, and 232.5m of 0.91 g/t oxide Au (refer to May 2022 press release).

-- Wildcat: 39.2m of 1.26 g/t oxide Au, 41.4m of 0.93 g/t oxide Au, and 120.2m of 0.39 g/t oxide Au (refer to October and November 2022 press releases). -- 2,500kg of material used for metallurgical testing, including 20 column tests, 160 bottle rolls, and 6,000 cyanide assays at various size fractions. -- 10 drill holes logged by geotechnical engineers; 75 samples selected for compression and shear testing as well as >1,000 point-load tests followed by 3D model simulations for pit wall design.

-- 8,500m of infill drilling (PQ-NQ) for mineral resource conversion with the majority of drilling executed at 50m x 50m spacing; 6,000m of historical core relogged with detailed QA/QC for validation of historical drill data. -- Surface sampling and mapping program at Wildcat identified several new mineralized targets located outside the proposed pit, increasing the mineralized footprint from 1.5km x 1.5km to 3.0km x 2.0km; high-priority drill targets were identified for Phase 2 drilling. Substantially increased land position at Wildcat (+87%) and Mountain View (+23%) bringing the total Nevada land package to 37,041 acres across all seven projects.

Completion of engineering studies for site infrastructure layout and design, as well as capital and operating cost estimates for the upcoming Preliminary Economic Assessment ("PEA") and future Pre-Feasibility Study (PFS). Significant advancements toward securing water rights from both public and private owners for Wildcat and Mountain View. As part of the Wildcat EPO and future MPO, 13,000 acres were surveyed for baseline environmental resource studies including a ground-based inventory of cultural, wildlife, and plant resources.

In addition, samples were collected for environmental geochemical characterization (static and humidity cell tests), a conceptual hydrogeological model was developed, and one water supply well was drilled. Exploration activities at non-core assets include: (1) 2,000 samples collected during a soil sampling program at Cerro Colorado, (2) detailed mapping at Ocelot with development of an exploration model, and (3) development of a property wide 3D geological model at Red Canyon. 2023ey C Catalysts: -Metallurgrgical results from Mountain View and Wildcat (first half of 2023) Submit EPO O for Mountain View (first half of 2023).).

-- Updated mineral resource estimate and PEA for Wildcat and Mountain View (first half of 2023). Engineering and environmental activities (geotechnical, condemnation drilling, permeability, metallurgical, hydrogeology, and geochemical) required for PFS and MPO at Wildcat (second half of 2023). Phase 2 drilling of high-priority targets at Wildcat (second half of 2023).

Surface sampling and mapping at Red Canyon and Cerro Colorado (second half of 2023). Wdcat PrProject Overview: Wildcat is located within the rrell mining district in Nevada, 56km north ofof the town of Lovelock within Pershing County. The property can be accessed by year-round roads from Lovelock via State Route 399 and Seven Troughs Road.

The 17,612-acre land package consists of 916 unpatented claims and 4 patented claims. The claims are located on publicly- owned lands administered by the BLM. The mineralization at Wildcat consists of a gold-dominated, low sulphidation, epithermal vein system with oxidized, disseminated sulphide mineralization hosted in volcanic and intrusive rocks. The Inferred mineral resource estimate at Wildcat contains 776,000 ounces of Au (oxide) (60.8 million tonnes at 0.40 g/t Au; effective date of November 18, 2020).