Millennial Precious Metals Corp. Provides Corporate Update

Appointment of Mr. Raphael Dutaut as Vice President, Exploration

Mr. Dutaut is a geologist with a Ph.D. in mining geology. Raphael has nearly 15 years of experience across 5 continents working in brownfields exploration, mine development, mine geology, and resource estimation. Raphael is a Qualified Person (QP) and a member of the Ordre des Géologues du Québec. Between 2013-2019 Raphael held several key roles with IAMGOLD Corporation at both the corporate and asset level including Manager, Resources and Mining Geology and Chief Geologist at the Rosebel Gold Mine in Suriname. Most recently Raphael held senior technical roles with the Nickel Mining Company (SMSP-NMC, New Caledonia) and Geovariances. In addition to a Ph.D. from Polytechnique Montréal (Québec), Raphael holds an International Masters of Economic Geology from University of Orléans (France) and an undergraduate degree in geology from the Université de Toulouse (France).

Mr. Dutaut replaces Miguel Heredia in the role of Vice President, Exploration, who has stepped down from the role for personal reasons. The Millennial team is grateful for Miguel's contributions to the Company and wishes him well in his future endeavours.

Jason Kosec, President, CEO & Director of Millennial commented, "we are very happy to welcome Raphael to Millennial as our new Vice President, Exploration. Raphael brings extensive experience across exploration, mine development, and resource estimation. He also brings industry-leading experience in the areas of corporate social responsibility, risk management, and team development. These skill sets will be invaluable to us as we look to advance our portfolio of high-quality assets in Nevada and Arizona."

Millennial Grants Options and RSUs

The Company also announces that it has granted, in accordance with the Company's stock option plan, an aggregate of 3,305,000 options to purchase common shares of the Company to certain directors, officers, employees and consultants. All of the options granted are exercisable at a price of C$0.66 for a period of five years. The Company also granted 775,000 restricted share units ("RSUs") to officers of the Company. The RSUs are payable in common shares of the Company and vest in three equal installments over three years following the date of grant.

ABOUT MILLENNIAL PRECIOUS METALS CORP.

Millennial Precious Metals (TSXV: MPM) (OTCQB: MLPMF) is a Nevada-based exploration and 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 Au; 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 Au; 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.

QUALIFIED PERSON

Leonardo De Souza, P. Geo., is the Qualified Person for the scientific and technical information contained in this press release and is an independent Qualified Person within the meaning of National Instrument 43-101.

CAUTION REGARDING FORWARD LOOKING STATEMENTS

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the business development objectives and plans of Millennial.

Forward-looking information contained in this news release are based on certain factors and assumptions. While Millennial considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental risks and risks relating to health pandemics and the outbreak of communicable diseases, such as the current outbreak of the novel coronavirus, COVID-19.

Further, these forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration, (3) a decreased demand for precious metals, (4) any number of events or causes which may delay exploration and development of the property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, (7) inability to obtain all necessary permitting and financing, and (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and Millennial does not assume an obligation to update these forward looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.

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.

SOURCE Millennial Precious Metals Corp.



Contact
Jason Kosec, President, CEO & Director, jason.kosec@millennialpm.com, Dir.: 250-552-7424; Jason Banducci, Vice President, Corporate Development, jason.banducci@millennialpm.com, Dir.: 647-537-8295; Corporate Website: https://millennialpreciousmetals.com/