any of a series of posts set up to mark distance by miles, as along a highway, or an individual post showing the distance to or from a place.
a notable point or significant event in the progress or development of something; milestone.

1760–70, Americanism; mile + post1 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
milepost (ˈmaɪlˌpəʊst)
1.  horse racing a marking post on a racecourse a mile before the finishing line
2.  chiefly (US), (Canadian) Also called (esp Brit): milestone a signpost that shows the distance in miles to or from a place

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
As such, it is a milepost of significant psychological import on the arduous journey from winter to spring.
It provides a milepost commentary you can follow as you ride.
Bronze sculptures, crowded milepost signs, fountains and crazy weather gauges
  present unique backgrounds for photo opportunities.
The milepost markers along undivided highways were collected twice, once in
  each direction where possible.
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