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Millennial Expands Lithium Brine Horizon at Pastos Grandes

ID: 1542616
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(PresseBox) - Millennial Lithium Corp. (ML: TSX.V) (A3N2:GR: Frankfurt) (MLNLF: OTCQB) (?Millennial? or the ?Company?)

Millennial is also pleased to announce that it has engaged Credit Suisse to act as a lead financial advisor to assist the Company with respect to potential future project financing alternatives and ongoing strategic discussions.

Millennial CEO, Farhad Abasov, commented:"We are very encouraged to see that drilling on the REMSA license at Pastos Grandes salar continues to encounter lithium-rich brine, significantly extending the area of known lithium-rich brine further west toward the edge of the salar. The Company is embarking on a process of securing construction financing which is planned to be concluded in 2019.?

Exploration holes PGMW18-16 and PGMW18-17 were drilled to depths of 641 metres (m), and 605m respectively and both wells terminated in brine-bearing sand.

Exploration well PGMW18-16, drilled to a final depth of 641m close to the southern margin of the basin, was sampled using a double packer system which is designed to isolate sample intervals.8-12 and the significant halite section in this well suggests it may occupy the depocenter of the basin.

Well PGMW18-17 is located approximately 1500m southwest of PGMW18-12 and was drilled to a depth of 605m.

Exploration drilling is ongoing with a rig currently at PGMW18-18, located approximately 2000m south of PGMW18-15 in the southwest corner of the REMSA license.zed to site to expedite additional pumping tests. Pilot evaporation ponds, approximately 3.25 ha in size, have now been filled with brine to provide concentrated Li plant-grade feed for the Company?s pilot plant. The Company has posted a recent time-lapse video of the construction of the pilot ponds and the reader is encouraged to visit the Company?s website, www.millenniallithium.com, and view the ongoing progress at its Pastos Grandes Project.



Sampling was conducted in accordance with CIM guidelines for brine resource evaluation, with an appropriate QA/QC program in place for ensuring accuracy and precision of the analytical results.

The primary analytical laboratory for the data used in this program is the SGS Laboratory in Buenos Aires, Argentina.

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(at)millenniallithium.com.

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.s 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 (including export duties or tariffs) in Argentina or other jurisdictions 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.



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Date: 10/15/2018 - 17:04
Language: English
News-ID 1542616
Character count: 3820
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Firma: Swiss Resource Capital AG
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Stadt: Herisau
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