Millbank Announces Proposed New Strategic Focus and Name Change

Vancouver, August 8, 2024 - Millbank Mining Corp. (TSXV: MILL) (the "Company" or "Millbank") announces that it intends to shift its focus from the exploration and development of precious metals properties to the exploration and development of opportunities in the clean energy space, specifically natural hydrogen. In conjunction with the proposed new strategic direction, the Company proposes to change its name to "Primary Hydrogen Corp." (the "Name Change"). In connection with the Name Change, the Company also intends to change its stock symbol from "MILL" to a symbol reflective of the proposed new name. The Name Change remains subject to the approval of the TSX Venture Exchange. Assuming all required approvals are obtained, the Company will provide a further news release announcing the effective date for the Name Change, the Company's new stock symbol and the new CUSIP for the Company's common shares.

"In the current energy paradigm, we see hydrogen as a potentially significant disruptor to the energy market and driver of clean energy moving forward. While the industry is at its infancy at present, the potential for low cost, clean hydrogen to displace conventional fuel sources represents a large potential reduction in carbon emissions and as such, our team is conducting an exhaustive evaluation of opportunities within the space," commented Benjamin Asuncion, CEO of Millbank Mining.

The Company cautions that it does not currently hold an interest in any natural hydrogen projects and there is no certainty that the Company will be successful in ultimately acquiring a natural hydrogen project and, if such a project is acquired, the outcome of any exploration and development activities on any such project.

About Millbank Mining Corp.: Millbank Mining Corp. is a mineral exploration company currently focused on its wholly owned and royalty free Arthur Lake property in British Columbia.

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.

When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this press release include, amongst others, the Company's intention to identify and locate opportunities in the natural hydrogen space, the ability of hydrogen to replace conventional fuel sources and the proposed Name Change. Such statements and information reflect the current view of the Company. Such statements and information reflect the current view of the Company. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including, but not limited to: the risk that the Company will not be successful in identifying and acquiring a natural hydrogen project; inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties; the risk that the TSX Venture Exchange will not approve the Name Change; stock market volatility and capital market fluctuations; general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219307