Millennial Makes Payment on Option of Pocitos West Project in the Pocitos Salar, Salta Province, Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 30, 2017) - Millennial Lithium Corp. (TSX VENTURE:ML)(FRANKFURT:A3N2)(OTCQB:MLNLF) ("Millennial" or the "Company") reports it has made the initial payments under its option (the "Option") to acquire a 100% interest in the Pocitos West Project ("Pocitos West") consisting of 15,857 hectares (39,183 acres) of prospective lithium brine exploitation concessions on the Pocitos Salar in Salta Province, Argentina. Pocitos West is adjacent to ground recently acquired by Pure Energy Minerals Ltd. and is strategically located in close proximately to known lithium resources including the Rincon Project located 32 kilometres (km) to the north and the Sal De Vida Project 90km to the south. The Option was first announced on February 2, 2017.

Pocitos West is located 160km from Salta, and approximately 40 km due west of Millennial's flagship Pastos Grandes Project where recent drilling has confirmed significant lithium brines from surface to depths of 400 metres. Pocitos West is directly accessible by Salta Provincial Highway 17 and close to other high quality regional and site infrastructure including local labour, rail and power generation.

Millennial and the Vendors of Pocitos West executed a definitive option agreement (the "Agreement") that defines the material terms and conditions of the Option. A non-refundable deposit of $100,000 (the "Deposit") has been paid to the Vendors as has the additional $150,000 (U.S.) (the "First Option Payment") which was due upon receipt of Exchange approval of the Option.

The Option may be exercised within three years by making a total of $4,500,000 (U.S.) in payments (including the Deposit and the First Option Payment) (the "Option Exercise Price"): (i) $250,000 (U.S) six months from the date of the Agreement; (ii) $500,000 (U.S.) twelve months from the date of the Agreement; (iii) $500,000 (U.S.) eighteen months from the date of the Agreement; (iv) $500,000 (U.S.) twenty-four months from the date of the Agreement; (v) $500,000 (U.S.) thirty months from the date of the Agreement; and (vi) $2,000,000 (U.S.) thirty-six months from the date of the Agreement.