VANCOUVER, BRITISH COLUMBIA, May 26, 2010 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or the "Company") announces that it has closed the private placement with Teck Resources Limited ("Teck"), details of which can be found in the Company’s news release dated May 4, 2010.
Millrock has issued 1,363,636 units at $0.44 per unit to Teck. Each unit is comprised of one common share and one share purchase warrant. Each share purchase warrant is exercisable at $0.53 per share until May 27, 2011 and thereafter at $0.62 per share until May 27, 2012.
All of the securities issued hereunder are subject to a four month hold period and may not be traded until September 27, 2010.
ABOUT MILLROCK RESOURCES INC.
Millrock is a TSX Venture Exchange listed company intent upon the discovery of large, high value mineral deposits, with a focus on Alaska gold deposits and Arizona copper-gold porphyries. The Company follows a project generator/joint venture business model that capitalizes on Millrock's knowledge and ability in two outstanding mining jurisdictions. This model shares risk by partnering with other companies that invest capital to move exploration projects toward development and production. Millrock currently has eight (8) active exploration projects in Alaska, and three (3) in Arizona. Six of the projects are the subject of joint venture agreements in which other companies are making exploration expenditures to earn an interest in Millrock’s projects. Drilling is planned on at least four (4) of the Company’s projects in 2010.
FOR FURTHER INFORMATION, PLEASE CONTACT
Gregory A. Beischer, President & CEO
Phone: (604) 638-3164
Toll Free: (877) 217-8978
Millrock Resources Inc.
750 World Trade Centre - 999 Canada Place
Vancouver, BC V6C 3E1
Canada
"NEITHER 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."