Mr. Farhad Abasov reports

MILLENNIAL CLOSES "BOUGHT DEAL" LIFE OFFERING OF $17,537,500 AND CONCURRENT NON-BROKERED PRIVATE PLACEMENT FOR TOTAL PROCEEDS OF $18,287,500

Millennial Potash Corp. has closed its previously announced bought deal private placement offering of 5.75 million units of the company at a price of $3.05 per LIFE (listed issuer financing exemption) unit for gross proceeds of $17,537,500, including the full exercise of the option granted to the syndicate of underwriters (as defined below) to purchase up to an additional 15 per cent of the LIFE units sold under the LIFE offering.

The LIFE offering was led by Cantor Fitzgerald Canada Corp., as lead underwriter and sole bookrunner, on its own behalf and on behalf of SCP Resource Finance LP.

The company is also pleased to announce that, concurrent with the closing of the LIFE offering, the company closed the previously announced non-brokered private placement offering of 245,901 additional units of the company at the offering price for additional gross proceeds of $750,000.

Each LIFE unit and non-LIFE unit consisted of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at an exercise price of $4 for a period of 36 months from the closing date.

The net proceeds from the sale of the units will be used by the company for the costs for a definitive feasibility study for its Banio potash project, as well as other uses, including for general working capital.

The LIFE units were issued pursuant to Part 5A of National Instrument 45-106, Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, to purchasers resident in Ontario and British Columbia, and in other qualifying jurisdictions outside of Canada on a private placement basis pursuant to relevant prospectus or registration exemptions in accordance with applicable laws.

The LIFE units issued to subscribers under the LIFE are not subject to a hold period pursuant to applicable Canadian securities laws. The non-LIFE units, together with the common shares and warrants comprising the non-LIFE units, are subject to a four-month resale restriction.

There is an offering document related to the offering of units that can be accessed under the company's issuer profile on SEDAR+ and on the company's website.

In consideration for their services, the company paid the underwriters a cash commission equal to $1,052,250 and issued to the underwriters non-transferable compensation options entitling the underwriters to purchase up to 230,000 common shares at a price per common share equal to the offering price until Jan. 29, 2029. The common shares underlying the compensation options are subject to a four-month resale restriction.

The LIFE offering remains subject to the final approval of the TSX Venture Exchange.

Farhad Abasov, Millennial's chairman, said: "We are very pleased to complete this bought deal LIFE offering with Cantor Fitzgerald and SCP Resource Finance. This financing was supported by leading global asset management firms, which demonstrates confidence in Millennial's progress to date and our development plans going forward. With three major ongoing technical programs: a definitive feasibility study, ESIA and planned stage 3 drilling, we believe we will significantly derisk the Banio potash project in the coming months."

We seek Safe Harbor.