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Millennial Lithium Announces Submission of Its Environmental Impact Assessment (EIA) for Construction and Operation of the Pastos Grandes Project

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Vancouver, British Columbia–(Newsfile Corp. – June 5, 2019) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQX: MLNLF) (“Millennial” or the “Company”) is pleased to report the submission to the Environmental and Mining Authority in Salta Province, Argentina the Environmental Impact Assessment for Construction and Operations for its Pastos Grandes Project (the “EIA”). The objectives of the EIA are to identify, prevent, minimize, correct and mitigate any potential impacts to the environment or the social framework at the Pastos Grandes Project.

The EIA presented to the Salta Environmental and Mining Authority was prepared by Ausenco-Vector (Ausenco). Ausenco has extensive experience in the preparation of EIAs for the mining industry in compliance with Argentine Federal and Provincial regulations. All development work on the company’s Pastos Grandes Project will be completed in accordance with Argentine National Law No. 24.585 (Environmental Protection for Mining Activity). The EIA is based on the potential production scenario of brine extraction via pumping wells, solar pond evaporation and production of up to 25,000 tonnes per year of lithium carbonate from a centralized processing facility. The Company is expecting to complete a feasibility study in July of 2019 which examines in detail the economics of possible production from the Pastos Grandes Project.

Millennial obtained its initial environmental approvals (DIAs, or Declaraciones de Impacto Ambiental) for exploration activities at its initial licenses in 2016, and for its expansion area licenses in the Pastos Grandes Project in 2018. These DIAs permitted comprehensive exploration programs including ground geophysical studies, core and rotary drilling, pumping well tests and camp construction, as well as pilot pond and pilot plant construction.

In October, 2018 the Company completed and presented its Environmental Baseline Studies, undertaken by Ausenco, to the Environmental and Mining Authority of Salta. Studies completed include the documentation of flora, fauna, climate, air quality, archeological sites, hydrogeology, soil usage, a socio-demographic survey and ecosystem characterization and where applicable seasonal variations in those fields.

Millennial’s President and CEO, Farhad Abasov, commented: “We are very pleased to have completed the submission of the EIA to the Environmental and Mining Authority in Salta. We are also pleased with the comprehensive work done by Ausenco in all aspects of the study including project construction. Millennial remains committed to sound and compliant mining practices, high environmental standards and the highest level of active community consultation, involvement and participation in the project. This submission continues our permitting process. With continued proactive engagement with the provincial mining agencies we anticipate approval by the end of 2019.”

The Ausenco EIA report concludes that, considering environmental and socioeconomic factors, the impact of the project is overall positive. The consulting company highlighted only a small number of observations, all of which are positively mitigated:

• Visual impact and removal of soils for the evaporation ponds: the portion of the ponds that are located outside of the salar surface are on elevated terraces with poor to no soil development. The ponds and all project surface infrastructure avoid stream channels and wetlands, incurring minimal to no impact on flora and fauna.

• Water resources: fresh water extraction for the full process stream, not accounting for fresh water recycling represents only 1.5 – 4.0 percent of the most conservative scenario for recharge, as calculated in a water balance study, part of the brine flow model, by hydrogeological consultants Montgomery & Associates. The overall impact on water levels, including the brine of the resource area itself, has been modeled by Montgomery using ModFlow hydrodynamic numerical modeling software. The brine level draw-down due to pumping as predicted by the model will be monitored through the life of the pumping operations.

• Socio-economic impact: the report concludes that the Pastos Grandes Project’s impact on the local communities is overall positive, with improved infrastructure and related services, employment, and opportunities for economic activity.

This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of the Company and a Qualified Person as that term is defined in National Instrument 43-101.

To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.

MILLENNIAL LITHIUM CORP.

“Farhad Abasov”

President and CEO, Director

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45332