Millennial Lithium Corp.
TSX VENTURE : ML
OTCQB : MLNLF

Millennial Lithium Corp.

December 06, 2016 08:30 ET

Millennial Lithium Corp.: Drilling Results At Pastos Grandes

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 6, 2016) - Millennial Lithium Corp. (TSX VENTURE:ML)(OTCQB:MLNLF) ("Millennial" or the "Company") reports continued progress with its Phase I lithium brine drilling program at Pastos Grandes in Salta, Argentina. Currently, one HQ coring drill and one large diameter rotary drill are operating.

The first drill hole, PGMW-16-01 (MW - monitoring well) was completed to a depth of 192 metres and encountered three brine aquifers over a total 94.5 metres (m); from surface to 13m, 19.5m to 66m, and 157m to the bottom of the hole. The brine aquifers were sampled using a drive-point sampler at key formational changes. The densities of the samples range from 1.19 g/cm3 to 1.22 g/cm3, indicating the presence of brine throughout the section. Analytical results for this first set of samples are anticipated within two weeks.

A second hole, PGMW-16-01b, drilled near the location of PGMW-16-01, was successfully completed to the target depth of 352 metres and encountered brine aquifers throughout the hole. Depth-specific sampling was completed using a double packer system. Eight one metre interval samples were collected at the following depths: 92m, 116m, 146m, 167m, 197m, 224m, 248m, and 275m. The deepest sample was collected using a single packer and includes brine extracted from 275 metres and below. All but one of the sample intervals yielded very positive brine flow at greater than 0.5 litre/second.

As a result of positive flow rates obtained in the first well, the installation of a production scale pumping test well is proceeding as planned. To accomplish this, a second larger drill was mobilized to the site to begin drilling a test production well (PGPW-16-02) to a minimum of 350 metres. This hole is being drilled with a diameter of 15 inches for the first 120m and then reduced to a diameter of 12 inches. Upon completion, 10 inch-diameter perforated casing will be installed to 120m, with six inch slotted casing below that depth. The assembled well will then be fitted with pipe and pump to begin a 24 hour pumping test.

Iain Scarr, VP of Development and Exploration, states, "These results exceed our expectations in terms of brine availability and flow. Densities are only an indirect measure of brine lithium content, but based on past work in the area, we are very encouraged. We are excited to be able to advance this program to pumping trials and to reporting results as they are received."

Initial field testing of brine recovered from the aquifers justifies further work. Brine from the packer testing and pumping tests will be used for field trials to validate the calculations for precipitation sequencing and lithium recovery, which will be used for pond sizing and conceptual design.

Sampling is being conducted in accordance with CIM guidelines and an appropriate QA/QC program for ensuring accuracy and repeatability of the analytical results.

Proyecto Pastos Grandes, S.A., Millennial's Argentina subsidiary has engaged Alex Stewart Laboratories of Mendoza, Argentina as the primary analytical provider. The laboratory has extensive experience with lithium brine analyses and is certified under ISO 17025, and in Alex Stewart's case, specifically for determination of lithium and potassium in liquid brines by use of ICP-OES.

This news release has been reviewed by Iain Scarr, VP of Development and Exploration of the Company and a Qualified Person as that term is defined in National Instrument 43-101.

MILLENNIAL LITHIUM CORP.

Graham Harris, Chairman, 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.

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