Millennial Precious Metals Corp. (TSX-V: MPM) is pleased to announce laboratory results for its Phase 1 drill campaign at the Red Canyon project located in Nevada.  Red Canyon is a Carlin-style, sediment-hosted gold project in the heart of the Battle Mountain-Eureka mineral trend, located 50 km northwest of the town of Eureka and 37 km southeast of the 20M-ounce Cortez Hills Mine complex.  The property consists of 6,500 acres (2,600 hectares) containing several target zones. In early May, Millennial commenced Phase 1 of a 12 drill hole program designed to tighten the geological controls and three-dimensional geometry of gold mineralization at the Heavenly target zone.

Key Points:

• Phase 1 drill holes are designed to test the extents of oxidized mineralization in the central zone of the Heavenly target, while tightening the geological model.
• Gold assay results from holes -003, -004, -005, -007, and -009 report oxidized mineralization throughout a zone consistent with that of previously reported holes (-001RD and -002RD).
• Mineralization in these holes is consistent with the working geologic model: stratabound Au hosted in calcareous siltstone dipping moderately to the southeast.
• Mineralization on the project is open to the south and southeast (down dip)

Composite highlights of holes -003, -004, -005, -007, and -009 include:

• Drillhole HVN-2021-003 returned high-grade intercepts of 3.05 g/t over 11 meters, including 10.32 g/t over 3 meters, with local high grades of 20.5 g/t over 1 meter.
• Drillhole HVN-2021-004 returned a wide intercept of 1.13 g/t over 15 meters.
• Drillhole HVN-2021-005 returned a wide intercept of 2.8 g/t over 30 meters, including a high-grade zone of 5.05g/t over 18 meters, and local zones of 11.5 g/t over 1 meter.
• Drillhole HVN-2021-009 returned a wide intercept of 0.48 g/t over 35.5 meters, including a zone of 0.63 g/t over 26 meters.

“These results reinforce our expectations of consistency Carline style – oxidized mineralization across several drill holes in the Heavenly target zone,” stated Jason Kosec, President and CEO of Millennial. Jason also added, “on 2002 our Phase 2 drilling will test down dip and along strike continuity of the close to surface oxidized mineralization and will expand the program to other target areas of interest of the Red Canyon Project.”

Red Canyon

The first phase of this drill program includes 2,200m in 12 planned drill holes at the Heavenly target zone. The Heavenly zone is one of several primary targets across 6 square km of outcropping alteration in Devonian-age sedimentary rocks. The Heavenly target consists of oxidized Carlin-style mineralization. Gold mineralization occurs within a calcareous siltstone and mineralized fault zones.

These first holes confirmed the mineralization style, established main ore controls, grade continuity and geometry and increase the confidence in the geologic model at the Heavenly target zone. Compiled with historical data, the drill program will continue to expand the footprint for oxidized mineralization in the Heavenly target zone to the west and east, encompassing an area approximately 200 x 800 meters in size and is open to the south and southeast (down dip).

Millennial has an option to purchase a 100% interest in the Red Canyon property pursuant to a lease and option to purchase agreement with Red Canyon Corporation. For additional information relating to the Red Canyon property, please refer to Millennial’s Listing Application which is available on SEDAR (www.sedar.com) under Millennial’s profile.

In addition to the above results, Millennial is reporting a notable intercept in hole HVN-2021-007. This drillhole returned an intercept of 0.13 g/t over 25.7 meters, with intervals as high as 0.51 g/t.

ABOUT MILLENNIAL PRECIOUS METALS LTD.

Millennial Precious Metals is a Nevada-based development company focused on unlocking quality ounces through the responsible expansion of its seven gold projects. The Company plans to accelerate the development of its two flagship projects, Wildcat and Mountain View. The Wildcat Inferred Mineral Resource estimate contains 776,000 ounces of Au oxide (60.8 million tonnes at 0.40 g/t gold; effective date of November 18, 2020) and the Mountain View Inferred Mineral Resource estimate contains 427,000 ounces of Au oxide (23.2 million tonnes at 0.57 g/t gold; effective date of November 15, 2020). Each of the technical report titled “NI 43-101 Technical Report Resource Estimate for the Wildcat Project, Pershing County, Nevada, United States”, dated November 20, 2020 with an effective date of November 18, 2020 prepared by William J. Lewis, B.Sc., P.Geo., Rodrigo Calles-Montijo, MSc., CPG, and Leonardo de Souza, MAusIMM (CP) and the technical report titled “NI 43-101 Technical Report for the Mountain View Project, Washoe Country, Nevada, USA”, dated November 25, 2020 with an effective date of November 15, 2020, prepared by William J. Lewis, B.Sc., P.Geo., Rodrigo Calles-Montijo, MSc., CPG, and Leonardo de Souza, MAusIMM (CP) is available on Millennial’s issuer profile on SEDAR at www.sedar.com.

Millennial Precious Metals is led by an experienced management team and board of directors with a proven track record of success in financing and developing mining assets. The Company is well positioned to create value for all stakeholders by applying a systematic strategy to develop all seven gold projects over the next few years.

Figure 1. Red Canyon: Drill traces from Phase 1 drill program at the Heavenly target zone and location of section A-A’ included in this press release. Red dashed lines represent Au zones of >0.1g defined from historical rotary drilling. Mineralization is hosted in calcareous siltstone of the lower plate units of the Roberts Mountains Formation dipping to the southeast. (CNW Group/Millennial Precious Metals Corp.)

Figure 2: A-A’ – SW-NE longitudinal section through the Heavenly target zone. Red dashed lines represent Au zones of 0.1g/t defined from historical rotary drilling. (CNW Group/Millennial Precious Metals Corp.)

Figure 3. Red Canyon Regional Map (CNW Group/Millennial Precious Metals Corp.)