Millennial Precious Metals Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Millennial Precious Metals (TSX-V:MPM | OTCQB:MLPMF) is an exploration and development company focused on unlocking quality ounces through the responsible expansion of its eight gold and silver projects located in Nevada and Arizona, USA. The Company plans to accelerate the development of its two flagship projects located in Nevada: Wildcat and Mountain View.

The Wildcat inferred mineral resource estimate contains 776,000 ounces of oxide Au (60.8 million tonnes at 0.40 g/t Au; effective date of November 18, 2020) and the Mountain View inferred mineral resource estimate contains 427,000 ounces of oxide Au (23.2 million tonnes at 0.57 g/t Au; effective date of November 15, 2020). Located ~65km apart, the assets will be de-risked and developed in tandem. Millennial expects to release a combined updated mineral resource and PEA for Wildcat & Mountain View in H1 2023.

Millennial Precious Metals is led by an experienced management team and board of directors with a proven record of success in financing and developing high-quality mining projects. The Company is well positioned to create value for all stakeholders by applying a systematic strategy to advance and de-risk all eight projects over the next few years.

KEY ASSETS

(1) Wildcat Project, Nevada, USA

Project Summary

Objectives & Key Observations

• Phase 1 drilling objectives:
• Geotechnical and metallurgical data
• Resource conversion and resource expansion
• 12 holes, totaling ~1,250m
• Drill highlights:

• Observations:
• Mapping identified 2.3km x 1.2km mineralized footprint; hydrothermal vents detected throughout the property
• Grades observed confirm historical data
• No overburden coverage = extremely low strip ratio
• Excellent indication of a larger feeder zone within granodiorite basement
• Good rock competency = favourable pit slope angles
• Oxidation profile persists deeper than previously modeled

(2) Mountain View Project, Nevada, USA

Project Summary

Objectives & Key Observations

• Phase 1 drilling objectives:
• Geotechnical and metallurgical data
• Resource conversion and resource expansion
• 27 holes, totaling ~7,200m
• Drill highlights:

• Key Observations:
• Grades observed confirm historical data
• Potential discovery of the feeder zone – never been done
• Overburden composed of sand and gravel = low cost pre strip
• Deep oxidation profile
• Minor post mineral faulting = positive impact on leach kinetics

(3) Red Canyon Project, Nevada, USA

Project Summary

Objectives & Key Observations

• Phase 1 Objectives:
• Confirm historical drill intercepts within primary targets and test step out targets
• Define grade, continuity, and geometry within the Heavenly Zone target
• 12 holes, totaling ~2,300m
• Drill highlights:

• HVN-2021-002RD ranked in the top 1% of gold drill results in 2021
• HVN-2021-001RD, 003 and 005 ranked in the top 10% of gold drill results in 2021

• Key Observations:
• Mineralization at the Heavenly Zone consists of stratabound Au hosted in calcareous siltstone of the lower plate units
• Mineralization is dipping moderately to the southeast and is consistent with the Company’s working geological model
• Mineralization in the Heavenly Zone is open to the south and southeast
• Phase 2 drill program expected to be initiated in 2023

Management

Management and Directors

Jason Kosec, President, CEO & Director

Mr. Kosec has nearly ten years of experience in all facets of mineral exploration, mine development, investor relations and finance. He was Vice President of Corporate Development of Barkerville Gold Mines. He is currently Vice President of Strategic Development at Sable Resources.

Andres Tinajero, Chief Financial Officer

Mr. Tinajero is a Chartered Professional Accountant with over 26 years of international finance experience. Mr. Tinajero has previously served as Vice-President, CFO and Corporate Controller for large, multi-national companies including United Nations, State Bank, Lafarge, Trelawney Mining, and Osisko Royalties. Mr. Tinajero serves as Director for Sable Resources and JHI Energy.

Jason Banducci, Vice President, Corporate Development

Mr. Banducci is a finance professional with nearly a decade of experience. He was Vice President, Investment Banking of Stifel Financial. He worked in the mining investment banking group at GMP Securities prior to it being acquired by Stifel.

Raphael Dutaut, Vice President, Exploration

Mr. Dutaut is a geologist with a PhD in mining geology. He has nearly 15 years of experience across 5 continents working in brownfields exploration, mine development, mine geology, and resource estimation. He is a Qualified Person (QP) and a member of the Ordre des Géologues du Québec. Most recently, he held senior technical roles with the Nickel Mining Company and Geovariances.

Ruben Padilla, Chief Geologist & Director

Dr. Padilla has over 35 years of experience in the mineral exploration industry globally. He is the founder and Chief Geologist for Talisker Exploration Services and is currently the President, CEO and Director of Sable Resources. He also serves on the board of directors of Minera Alamos.

Terry Harbort, Director

Michael G. Leskovec, Director

Sara Heston, Director

Eric Tremblay, Technical Advisor

News Update

On May 04, 2023, Effective at the close of business, Friday, May 5, 2023, the common shares of Millennial Precious Metals Corp. will be delisted from the TSX Venture Exchange at the request of the company.

On May 04, 2023, The TSX Venture Exchange has accepted for filing documentation pertaining to an arm's-length arrangement agreement dated Feb. 26, 2023, between Integra Resources Corp. and Millennial Precious Metals Corp. On May 4, 2023, pursuant to the terms of the Arrangement Agreement and a court-approved plan of arrangement (the "Plan of Arrangement") under Division 5 of Part 9 of the Business Corporations Act (British Columbia), Integra completed the acquisition of all of the issued and outstanding common shares of Millennial (the "Arrangement").

Under the Arrangement, former Millennial shareholders received 0.23 of an Integra common share (each, an "Integra Share") for each one Millennial share (each, a "Millennial Share") held.

Millennial shareholders approved the Arrangement on April 26, 2023 at a special meeting of shareholders. The Supreme Court of British Columbia approved the Plan of Arrangement on May 1, 2023 and the Arrangement closed on May 4, 2023.

On April 27, 2023, At the special meeting of shareholders of Millennial Precious Metals Corp. held yesterday, shareholders overwhelmingly approved the proposed arrangement with Integra Resources Corp. under the provisions of the Business Corporations Act (British Columbia).

On April 20, 2023, Millennial Precious Metals Corp. is reminding its shareholders to vote ahead of the coming special meeting of the shareholders of Millennial to be held on April 26, 2023, at 4 p.m. Toronto time. The board of directors of Millennial unanimously recommends that Millennial shareholders vote FOR the plan of arrangement (the "Arrangement") involving the acquisition of all of the issued and outstanding common shares in the capital of Millennial by Integra Resources Corp. ("Integra").

On April 14, 2023, Both Institutional Shareholder Services (ISS) and Glass Lewis & Co. have recommended that Millennial Precious Metals Corp. shareholders vote in favour of the arrangement resolution with Integra Resources Corp.

As an independent proxy advisory firm, ISS has approximately 3,400 clients, including many of the world's leading institutional investors, who rely on ISS's objective and impartial analysis to make important voting decisions.

ISS's analysis stated: "The transaction makes strategic sense as the combination will provide shareholders with the opportunity to continue to hold their investment in the assets of the company, and participate as shareholders of the purchaser in a larger and more diversified company." ISS recommends that Millennial shareholders vote for the arrangement resolution.

On March 16, 2023, Further to the joint news release of Integra Resources Corp. and Millennial Precious Metals Corp. dated Feb. 27, 2023, announcing Integra's intention to combine with Millennial, the company has completed its bought deal private placement of 35 million subscription receipts at a price of 70 cents per subscription receipt for gross proceeds of $24.5-million, and a concurrent non-brokered private placement with Wheaton Precious Metals Corp. of 15 million subscription receipts at the offering price for gross proceeds of $10.5-million. The offering was conducted by Raymond James Ltd., BMO Capital Markets and Cormark Securities Inc.

On February 27, 2023, Integra Resources Corp. and Millennial Precious Metals Corp. have entered into an arm's-length definitive agreement dated Feb. 26, 2023, for an at-market merger, pursuant to which Integra and Millennial have agreed to combine their respective companies by way of a court-approved plan of arrangement.

Under the terms of the transaction, Millennial shareholders will receive 0.23 of a common share of Integra for each Millennial common share held. Existing shareholders of Integra and Millennial will own approximately 65 per cent and 35 per cent, respectively, of the outstanding Integra shares on the closing of the transaction.

The combination of Integra and Millennial will create one of the largest precious metals development and exploration companies in the Great basin, with the goal of becoming a mid-tier heap leach gold-silver producer and generating significant value for shareholders. The combined company will feature a diversified portfolio of assets, including Integra's past-producing gold-silver DeLamar project in southwest Idaho and Millennial's oxide-focused Wildcat and Mountain View projects in western Nevada. The combined company will boast one of the largest gold-silver endowments in the Great basin not controlled by a major mining company. In addition to the development pipeline, meaningful exploration potential exists in the BlackSheep, War Eagle and non-oxide targets at DeLamar, and the Dune, Eden, Marr, Ocelot, Cerro Colorado and Red Canyon projects from Millennial.

On January 24, 2023, Millennial Precious Metals Corp. announced that on January 23, 2023, the Company submitted an Exploration Plan of Operations ("EPO") to the Bureau of Land Management ("BLM") for its Mountain View project located in Nevada, USA.

Jason Kosec, President, CEO & Director of Millennial commented, "We are thrilled to announce the submission of the EPO for Mountain View. The proposed EPO project boundary of 3,428 acres will allow for up to 400 acres of surface disturbance, which is a significant upgrade from the 5-acre limit under the current Notice of Operations. This exciting news follows last week's announcement of outstanding initial metallurgical results from Mountain View, with oxide bottle roll gold recoveries up to ~95%. Phase 1 drilling at Mountain View, completed in May 2022, confirmed the high-grade breccia discovery and opened the deposit for future expansion to the northwest. Limited historical exploration drilling has been completed at Mountain View due to alluvium cover, therefore we expect the next phase of drilling under the EPO to not only significantly increase the size of the known mineralization, but also to materially enhance our geologic understanding of the deposit."

On January 19, 2023, Millennial Precious Metals Corp. announced that the positive metallurgical results from ongoing studies designed to determine the processing characteristics of the Mountain View project located in Nevada, USA. Material for the bottle roll tests was collected during the Phase 1 drill program at Mountain View, consisting of 27 holes totaling ~7,200m. Bottle roll recoveries from various crush sizes sampled (1.7mm and 75µm) returned excellent results, indicating that the material will support heap leach processing.

Highlights: Bottle roll tests for Mountain View returned average gold recoveries of ~89% within the oxide material, with several samples returning gold recoveries of up to ~95%.

On January 05, 2023, Millennial Precious Metals Corp. submitted an exploration plan of operations (EPO) on Dec. 30, 2022, to the Bureau of Land Management (BLM) for its Wildcat project located in Nevada, United States. Millennial is also pleased to provide a summary of the company's exploration and derisking activities completed in 2022 and a preview of key catalysts in 2023.

Jason Kosec, president, chief executive officer and director of Millennial, commented: "We are extremely excited to announce the submission of the EPO for Wildcat, our flagship project in Nevada. 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 five acres we 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."

On December 19, 2022. Millennial Precious Metals Corp. has granted restricted share units (RSUs) to certain officers and directors of the company, in accordance with the company's RSU plan. An aggregate of 511,542 RSUs were granted, which are payable in common shares of the company and vest 45 days from the date of the grant.

On November 29, 2022, Millennial Precious Metals Corp. has provided 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 (refer to Table 1 for detailed interval results).
• 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 (described in the November 2020 NI 43-101 Technical Report for the Wildcat Project available on SEDAR);
• 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. Over all, 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;
• New exploration targets identified for near-term resource growth.

On November 16, 2022, Millennial Precious Metals Corp. provided the results from a recently completed regional mapping and sampling program at its Wildcat project located in Nevada, USA. The program consisted of detailed mapping and surface sampling across the entire 17,612-acre land package and was designed to identify new areas of mineralization in proximity to the existing resource pit (located at the Main Hill) and planned infrastructure. The program was highly successful in identifying several new mineralized vent systems 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) . Highlights:

• Two significant new targets have been identified outside the primary resource area at the Main Hill :
• Crossroads Target: mineralized footprint is estimated at ~1,300m x 600m; characterized by disseminated mineralization within silicified tuff breccia (identical to the Main Hill).
• Located ~1.5km northwest of the Main Hill; 64% of the ~70 samples returned grades >0.10 g/t oxide Au with values up to 2.44 g/t oxide Au.
• Snow Squall Target: mineralized footprint is estimated at ~1,500m x 1,000m; characterized by disseminated and structurally controlled mineralization within an altered andesite.
• Located ~4.5km south of the Main Hill; mineralization is controlled along the major structures; samples were broadly collected throughout all rock types with 13% of ~350 samples returning grades >0.10 g/t oxide Au with values up to 28.9 g/t oxide Au.
• Three additional targets were identified surrounding the Main Hill resource area, extending the mineralized footprint by ~1,000m x 1,000m:
• Breccia Pipe Target: expected to be a phreatomagmatic breccia feeder of the tuff breccia that hosts gold mineralization at the Main Hill and Crossroads Target.
• Located ~1km north of the Main Hill; gold mineralization in hydrothermal breccias is preferentially hosted by permeable zones along the contact of the pipe and within more permeable breccia phases. The primary feeder is believed to be concealed by the post-mineral basalts .
• North Target: located directly north of the proposed Wildcat pit; characterized by silicified disseminated mineralization within a tuff breccia (analogous to the Main Hill). Surface mapping has identified multiple hydrothermal vents within this area.
• Rhyolite Ridge Target: located directly east of the proposed Wildcat pit and presents an opportunity to expand the size of the pit. Soil anomalies detected grades up to 0.23 g/t oxide Au and rock chip samples returned grades up to 7.70 g/t oxide Au, indicating the presence of mineralization.
• Millennial expects to drill test the new targets in 2023/2024 once the Exploration Plan of Operations (PoO) has been received from the Bureau of Land Management (BLM)
• 2022 drilling at Wildcat was completed under a Notice of Operation (NoO), allowing for 5-acres of surface disturbance (17,612-acre total land package).

On November 14, 2022, Millennial Precious Metals Corp. announced that it has received notice from a group of new and existing institutional and high-net-worth investors of their recent acquisition of Millennial common shares. The shares were purchased by way of a 13,471,000 share block trade from a former shareholder who no longer controls any common shares of the Company.

Jason Kosec, President, CEO & Director of Millennial stated, "The significant acquisition of Millennial shares by new and existing shareholders is a strong vote of confidence for the Company. We would like to welcome the new shareholders to the Millennial story. With a robust shareholder roster, strong balance sheet, and catalyst rich 2023, we believe Millennial is well positioned for success."

October 4, 2022 - Millennial Intersects 0.87 g/t Oxide Au Over 42.7m, ~50m Outside the Proposed Pit at Wildcat Project

August 16, 2022 - Millennial Intersects 1.26 g/t Oxide Au Over 39.2m and 0.93 g/t Oxide Au Over 41.4m at Wildcat Project

June 16, 2022 - Millennial Announces Closing of C$16.1M Bought Deal Public Offering

May 12, 2022 - Millennial Intersects 1.48 g/t Au Over 185.5m, Including 3.99 g/t Au Over 36.9m, ~100m Outside the Proposed Pit at Mountain View

April 6, 2022 - Millennial Significantly Increases Land Position at Wildcat and Mountain View Projects

March 8, 2022 - Millennial Intersects 0.46 g/t Au Over 189.0m, Including 1.35 g/t Oxide Au Over 33.5m at Mountain View Project

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