Could you provide us with an overview of Millennial Precious Metals (TSX.V:MPM) and the company’s portfolio in Nevada?

Millennial Precious Metals is a company that focuses on exploration and development, with a specific focus on developing near-surface, heap leachable gold and silver ounces in Nevada and Arizona, two of the world’s top mining jurisdictions. The company has a diversified portfolio of assets, including the flagship projects, Mountain View and Wildcat, which are in the development stage and have a combined 1.2 million ounces of oxide gold. Millennial also has a compelling drillbit story on the Battle Mountain Eureka Trend called Red Canyon, where the first phase of drilling was completed in 2021. Millennial also has four grassroots development stage assets that provide the company with a solid organic growth pipeline. In August 2021, Millennial acquired an option on a high-grade silver asset located in Arizona called Cerro Colorado.

How has the market responded to Millennial since the company went public in H1 of 2021?

The gold equity market was slightly stronger when Millennial went public in May 2021. Since then, the company has initiated an aggressive drill program, significantly de-risked its key assets, and presented a key value proposition to its shareholders that it has the highest effective grade (gold grade divided by strip ratio) open-pit oxide development gold project in Nevada. Millennial currently trades at approximately US$35/oz Au compared to its peer group in Nevada, which trade closer to US$50/oz Au.

Could you discuss some of the ongoing exploration campaigns at Millennial, and what the results have shown so far?

In 2021-2022, Millennial plans to carry out a phased 15,000-20,000 m drill program across its three key assets, Mountain View, Wildcat, and Red Canyon. The company began its exploration campaign by drilling approximately 2,300m at Red Canyon, a Carlin-style, sediment-hosted gold project that presents some of the most significant intercepts in Nevada. Currently, the company is drilling over 7,000 m at Mountain View, and the first drill holes have returned 20 m at 2.3 g/t oxide Au and 128 m of 1.73 g/t oxide Au and 275 m of ~0.5 g/t oxide Au. The evidence collected from the ongoing drill program indicates that the core holes are yielding significantly higher grades than what was predicted in the block model, which is a potential game changer for the project. At Wildcat, the company plans to drill over 4,000 m beginning in Q1 2022. Wildcat is a large low sulphidation epithermal system for which the company is developing a geologic model to better understand its size and depth.

With the current metal prices, how do you see the appetite for exploration in Nevada?

Companies in Nevada tend to focus on the main trends, such as Battle Mountain-Eureka or the Carlin, and most exploration models are based on drilling through the upper plate, which typically presents alternation signatures with the hopes of intersecting a mineralized lower plate. This is not a financially feasible model for juniors. Millennial sees an opportunity in exploring off the main trends into the basins within the epithermal belts, which is where new discoveries will likely occur in the upcoming years.

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