Millrock Closes Tranche 2 of Private Placement

Not for distribution to United States newswire services or for dissemination in the United States.

VANCOUVER, BRITISH COLUMBIA, December 14, 2018 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or “the Company") reports the non-brokered private placement announced on December 7, 2018 was oversubscribed and the Company raised a total of $1,044,500. A total of 3,445,000 units at a price of $0.10 per unit have been issued in Tranche 2 for gross proceeds of $344,500. Each unit consists of one common share of Millrock and one share purchase warrant (the “Unit Warrants”). Each Unit Warrant entitles the holder to purchase one additional common share at an escalating exercise price over a period of three years from the closing date as follows:

  • During the first year from the closing date the Unit Warrants are exercisable at $0.14 per share;

  • Thereafter, during the second year from the closing date, $0.17 per share; and

  • Thereafter during the third year from the closing date, $0.20 per share.

Finder’s fees of $600 and 6,000 Finder’s Warrants are payable to Sprott Private Wealth LP., in connection with this portion of the financing. 

The common shares issued under this financing and any common shares issued pursuant to exercise of Unit Warrants or Finder’s Warrants are subject to a hold period and may not be traded until April 15, 2019.

This financing is subject to receipt of TSX Venture Exchange acceptance.

Proceeds from the financing will be used for project generation and general corporate purposes. The financing is subject to final approval from the TSX Venture Exchange.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Announces Private Placement Financing and Closes Tranche 1

VANCOUVER, BRITISH COLUMBIA, December 7, 2018 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or “the Company") announces that it plans to raise gross proceeds of up to $1,000,000 through a non-brokered private placement of up to 10,000,000 units (the “Units”) priced at $0.10 per Unit. Each Unit will consist of one common share and one share purchase warrant (the “Unit Warrants”). Each Unit Warrant will entitle the holder to purchase one additional common share at an escalating exercise price over a period of three years from the closing date as follows:

  • During the first year from the closing date the Unit Warrants will be exercisable at $0.14 per share;

  • Thereafter, during the second year from the closing date, $0.17 per share; and

  • Thereafter during the third year from the closing date, $0.20 per share.

 Finder’s fees of 6% cash and 6% finder’s warrants (Finder’s Warrants”) may be paid in connection with this financing. The Finder’s Warrants have the same terms as the Unit Warrants.

The Company reports it has closed a portion of the non-brokered private placement. A total of 7,000,000 units at a price of $0.10 per unit have been issued for gross proceeds of $700,000. Each unit consists of one common share of Millrock and one share purchase warrant (the “Unit Warrants”).  Each Unit Warrant entitles the holder to purchase one additional common share at an escalating exercise price over a period of three years from the closing date as follows:

  • During the first year from the closing date the Unit Warrants are exercisable at $0.14 per share;

  • Thereafter, during the second year from the closing date, $0.17 per share; and

  • Thereafter during the third year from the closing date, $0.20 per share.

 Finder’s fees of $38,400 and 384,000 Finder’s Warrants are payable to Red Plug Capital Corp. in connection with this portion of the financing. 

The common shares issued under this financing and any common shares issued pursuant to exercise of Unit Warrants or Finder’s Warrants are subject to a hold period and may not be traded until April 8, 2019.

This financing is subject to receipt of TSX Venture Exchange acceptance.

Proceeds from the financing will be used for project generation and general corporate purposes. The financing is subject to final approval from the TSX Venture Exchange.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Announces New Drilling Program at La Navidad Gold Project, Results From El Picacho Gold Project, Sonora State, Mexico, and General Corporate Update

VANCOUVER, BRITISH COLUMBIA, November 21, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report that another drilling program is underway at the La Navidad gold project in Sonora State, Mexico. The program will focus on the northwestern portion of the project. Four holes are planned at the El Tigre prospect, where gold has been detected by soil sampling in the vicinity of historic mine workings. Northwest trending high angle structures appear to control mineralization. Three holes are planned to test the El Chupadero prospect where alteration (decalcification and jasperoid replacement of limestone) points to the possibility of an intrusion-related gold deposit. In total, seven holes totaling 1,500 meters are planned. The exploration work is being funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”).

At El Picacho, a drilling program consisting of 2007.8 meters in eleven holes was recently completed. Only narrow gold-bearing intersections were detected. The table below indicates core sample assay results exceeding 0.1 gram of gold per tonne.

 
Screen Shot 2018-11-20 at 5.40.01 PM.png
 

Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. For the El Picacho and La Navidad drill programs drill core and rock samples are kept in a secure location at all times. Rock samples are assayed at the Bureau Veritas laboratory in Hermosillo, Mexico. Preparation and analysis methods are described in further detail here. The sample preparation method code being utilized for the current rock sampling program was PRP70-250. Analysis methods used include FA430 (30 gr/Fire Assay/ICP) and AQ-200 (Aqua Regia – ICP/MS). For every 20 rock samples a blank sample known to contain less than 3 parts per billion gold or a standard sample (Certified Reference Materials) of known gold concentration, or a duplicate sample was also analyzed. The Qualified Person is of the opinion that the results reported in this press release are reliable.

PolarX Shares
Millrock recently sold 9,203,968 shares for A$497,014. While Millrock continues to be a strong believer in the Alaska Range Project, from an overall corporate standpoint it made sense to realize some profit, while still retaining significant upside exposure for shareholders. Millrock continues to hold 10,000,000 shares of PolarX and is entitled to a production royalty, an advanced minimum royalty, and certain milestone payments.

Liberty Bell Project
A wholly – owned subsidiary of Kinross Gold Corporation has provided notice to Millrock that it will terminate its option on the Liberty Bell project. The termination will be effective December 8, 2018. Millrock intends to seek another partner to test by drilling the numerous targets that have been developed by Kinross and Millrock over the past two years. Millrock thanks Kinross for the investment it has made and its technical contributions to the project.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc. 

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Reports Drilling Program Under Way At El Picacho Gold Project, Sonora State, Mexico

VANCOUVER, BRITISH COLUMBIA, October 5, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report that drilling is in progress at the El Picacho gold project in Sonora State, Mexico. A series of ten holes totaling 2,000 meters has been approved and is being funded by Centerra Gold Inc. (“Centerra”) under an option to joint venture agreement. The program has been designed to test geological targets identified through soil and rock sampling, geophysical surveys, and trenching. The drill holes will test the Placeres prospect, one of several prospect areas identified by the joint technical teams over the past year. The project targets orogenic gold deposits, similar in nature to the nearby San Francisco gold mine, which is operated by Alio Gold Inc. The El Picacho project, located in Sonora State, Mexico, is located approximately 80 km north of the City of Hermosillo, and is accessible by paved highway and gravel roads.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc. 

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Partner Reports Drill Intersections

VANCOUVER, BRITISH COLUMBIA, October 1st, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") announces that PolarX Mining Inc. (“PolarX”) (ASX: PXX) has reported additional assay results for 2018 from drilling at the Zackly copper-gold deposit within its Alaska Range Project.

The following two drill intersections are from hole ZX-18020 and ZX-18024:

Screen Shot 2018-09-30 at 12.27.31 PM.png

Both holes were drilled on the same section 850 meters east of the Zackly copper-gold-silver skarn deposit. ZX-18024 was drilled to undercut hole ZX-18020 by approximately 40 meters. The mineralization begins just below surface and appears to be gently dipping at around 20 degrees. If the interpretation is correct the drilled intersections are close to true width. The mineralization is hosted in skarn displaying relict bedding and occurs in quartz-sericite veining and is open along strike and down dip. Further details with a map and cross section can be found in the September 25, 2018 announcement made by PolarX, which is available on their website. 

The next two drill intersections are from hole ZX-18023 and ZX-18025:

  These intersections include an uncut assay grading 27.3% Cu over a narrow interval of 0.3 meters between 56.7 meters and 57.0 meters.

These intersections include an uncut assay grading 27.3% Cu over a narrow interval of 0.3 meters between 56.7 meters and 57.0 meters.

Both holes were drilled on the same section, 350 meters east of the Zackly copper-gold-silver skarn deposit. ZX-18025 was drilled too intersect approximately 40 meters beneath the mineralization intersected in hole ZX-18023, which confirmed the intersection of historic hole Z86. The intersections indicate steeply dipping, high-grade copper-gold mineralization like that observed in the Zackly deposit. The mineralization is of the magnetite skarn variety with copper sulfides occurring as disseminated and vein-hosted chalcopyrite and bornite. Given the near-vertical orientation of the mineralized zone, the true width is interpreted to be about 65% to 70% of the drill interval indicated in the table above. Further details with a map and cross section can be found in the September 20, 2018 announcement made by PolarX, which is available on their website.

Exploration at the Alaska Range Project is being done by Millrock on behalf of PolarX. Millrock presently owns 6.44% of the issued and outstanding PolarX shares and is entitled to certain milestone and royalty payments on portions of the project. 

Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (QA/QC) standards. Drill core samples are kept in a secure location at all times. Representative half core samples were collected and assayed at ALS Chemex laboratories in Vancouver, Canada and Reno, Nevada, USA, after being prepared at the preparatory laboratory in Fairbanks, Alaska, USA. Gold was analyzed by Fire Assay (specifically ALS code Au-AA25 - Au by fire assay and AAS using a 30 gram nominal sample weight). Other elements (33 in total including copper) were analyzed using ALS method code ME-ICP61 which involves a four-acid digest and an ICP-MS finish. Over range (Cu >= 1%) was analyzed using ALS method code ME-OG62 which involves a four-acid digest and an ICP-AES or AAS finish. The following QA/QC protocols have been adopted for this program: 1) Blank samples and Standards – Certified Reference Material (CRM’s) account for approximately 10% of core samples submitted to the laboratory, 2) QA/QC samples are spaced no more than ten samples apart, 3) geologists instruct the lab to run clean rock through equipment immediately following samples containing visible native gold and / or copper, and 4) the laboratory prepares coarse crush and fine pulverized duplicate samples and analyzes the duplicates. All results from blanks, standards and duplicates were reviewed and found to be accurate within acceptable tolerances for results obtained to date. The Qualified Person is of the opinion that the results reported in this press release are reliable.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101. 

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Ltd. and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Early Warning News Release

FOR IMMEDIATE RELEASE

VANCOUVER, BRITISH COLUMBIA, September 14, 2018 – Millrock Resources Inc. (“Millrock” or the “Company”) announces that it acquired ownership of and control over 7,823,417 common shares (each, a “Sojourn Share”) in the capital of Sojourn Exploration Inc. (“Sojourn”) of Suite 2300 – 1177 West Hastings Street, Vancouver, British Columbia, V6E 2K3.  Sojourn issued 7,823,417 Sojourn Shares to the Company in consideration for the sale by the Company to Sojourn of the Company’s Todd Creek, Willoughby and Oweegee Dome projects (the “Projects”) pursuant to the terms of a mineral property purchase agreement dated August 8, 2018 between the Company and Sojourn. Each of the Sojourn Shares was issued by Sojourn to Millrock at a deemed price of $0.10 for an aggregate deemed price of $782,341.70. Millrock currently owns a total of 9,623,417 shares in the capital of Sojourn, representing 16.12% of the total issued and outstanding common shares in the capital of Sojourn, based on 59,692,212 outstanding common shares. The Company acquired the securities of Sojourn as partial consideration for the sale of the Projects. Depending on market conditions and other factors, the Company may from time to time acquire and/or dispose of securities of Sojourn or continue to hold its current position.

Once filed, a copy of the early warning report filed pursuant to National Instrument 62-103 can be downloaded from Sojourn’s SEDAR profile (www.sedar.com).

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, Kinross, First Quantum, Teck, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Millrock Announces Cancelation of Agreement on Lithium Brine Project, New Mexico, USA

VANCOUVER, BRITISH COLUMBIA, September 14th, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") announces that the purchase and sale agreement concerning the company’s Lordsburg lithium project has been canceled. The transaction was described in the Company’s prior press release dated June 21, 2018. The agreement with Nevada-registered Xinda International Corp (OTC: XNDA, “Xinda”) required that Xinda make a cash payment to Millrock and maintain the claims in good standing. Xinda was unable to raise needed financing and the agreement was therefore canceled. Millrock has retained the claims.

The Lordsburg lithium brine project is located in southern New Mexico and consists of 54 federal mining claims covering 1,080 acres surrounded by a large Area of Interest (“AOI”), which measures in excess of 2,200 square miles. The objective of the exploration project is to discover large volumes of lithium-bearing brine from which lithium metal can be economically extracted. The project covers a large, closed, sedimentary basin that is of adequate catchment area for the accumulation and recharge of lithium-bearing brines. The basin is surrounded by young, lithium-bearing volcanic rocks from which lithium may have been leached over time and migrated to depositional sites within the basin as brine. The claims are situated over a central playa or salar, and cover the deepest portions of the sedimentary basin, where brine would be most likely to accumulate. As evidenced by local, active hot springs, there is a high regional heat flow to drive fluid movement. Structures, interpreted from geophysical surveys, provide fluid pathways and potentially form boundaries that create brine pool traps. The arid climate of southern New Mexico allows for brine formation, and geological age relationships demonstrate that sufficient accumulation time was available in this long-lived basin to develop sustainable brines. This is an early-stage conceptual target. No prior exploration is known to have occurred for lithium at this location. 

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101. 

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Mining Limited, Sojourn Exploration Inc., and Xinda International Corp.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

 

Millrock Completes Transaction With Sojourn Exploration Concerning Three Projects In The Golden Triangle District, British Columbia

VANCOUVER, BRITISH COLUMBIA, September 14, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report that the TSX Venture Exchange has given final acceptance of the previously announced transaction with Sojourn Exploration Inc. (“Sojourn”, TSX-V: SOJ) concerning Millrock’s exploration projects in the Golden Triangle District of British Columbia: Oweegee Dome, Willoughby and Todd Creek.

Under the purchase agreement, existing option agreements with Sojourn on Millrock’s Oweegee Dome and Willoughby projects have been terminated. Through a private placement transaction Sojourn has raised $2.8 million. Millrock now owns 9,623,417 Sojourn shares, representing a 16.1% interest in the company. The shares will be held for a minimum of twelve months under a voluntary pooling agreement. Millrock will retain a royalty on the properties and receive reimbursement of $250,000 from Sojourn for exploration costs incurred in 2017.

As part of the transaction, Sojourn also purchased four other British Columbia projects from a private company, Seven Devils Exploration Ltd. (“SDE”), for shares. As announced by Sojourn, the SDE team will take over executive and technical management of Sojourn.

Millrock President & CEO Gregory Beischer commented: “Sojourn will have a new management team that has outstanding depth in British Columbia metallogeny. We anticipate the newly constituted company will have great success following the Project Generator business model and make great discoveries that will, in turn, benefit Millrock shareholders.”    

The SDE properties give Sojourn, and therefore Millrock, exposure to three of British Columbia’s most productive belts for porphyry copper-gold exploration: the Toodoggone District (Oxide Peak project), the northern Quesnel Trough (Eagle project), and the Late Cretaceous Bulkley intrusions of the Skeena Arch (Rip project), as well as a newly discovered Miocene porphyry belt in Northern Vancouver Island (Teeta Creek project). Along with the Golden Triangle projects that Millrock has contributed, Sojourn will have a strong property portfolio with which to begin its Project Generator mineral exploration business.

Gregory A. Beischer, President, CEO and a director of Millrock Resources, is also a director of Sojourn.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101. 

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, Kinross, First Quantum, Teck, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO 

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements.

Millrock Partner Reports Drill Results

VANCOUVER, BRITISH COLUMBIA, August 16, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") announces that PolarX Mining Inc. (“PolarX”) (ASX: PXX) has reported the first assay results for 2018 from drilling at the Zackly copper-gold deposit within its Alaska Range Project.

Results from hole ZX-18020 are presented below:

  * These intersections include an uncut assay grading 27.3% Cu over a narrow interval of 0.3 meters between 56.7 meters and 57.0 meters The drill intersection reported is apparent thickness. Due to the structural complexity in this area, in which several conjugate faults have been inferred, the true thicknesses of the mineralization cannot be ascertained until further drilling has been undertaken.

* These intersections include an uncut assay grading 27.3% Cu over a narrow interval of 0.3 meters between 56.7 meters and 57.0 meters The drill intersection reported is apparent thickness. Due to the structural complexity in this area, in which several conjugate faults have been inferred, the true thicknesses of the mineralization cannot be ascertained until further drilling has been undertaken.

The drill intersection includes a 0.3 meter down-hole thickness from 56.7 meters which assayed 27.3% copper, 2.5 grams per tonne (“g/t”) gold and 82.5 g/t silver. The gold and copper mineralization in ZX-18020 occurs in garnet-bearing skarn alteration located above a fault. Visible copper mineralization occurs in veins, fractures, and interstitial to grains, as native copper flecks and silicified chalcocite with variation in intensity throughout each mineralized zone. Gold is also present throughout this zone, although no visible gold was observed in this hole. Further information, maps and cross sections are available of the PolarX website.

Exploration at the Alaska Range Project is being done by Millrock on behalf of PolarX. Millrock presently owns 6.44% of the issued and outstanding PolarX shares and is entitled to certain milestone and royalty payments on portions of the project. 

Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (QA/QC) standards. Drill core samples are kept in a secure location at all times. Representative half core samples were collected and assayed at ALS Chemex laboratories in Vancouver, Canada and Reno, Nevada, USA, after being prepared at the preparatory laboratory in Fairbanks, Alaska, USA. Gold was analyzed by Fire Assay (specifically ALS code Au-AA25 - Au by fire assay and AAS using a 30 gram nominal sample weight). Other elements (33 in total including copper) were analyzed using ALS method code ME-ICP61 which involves a four-acid digest and an ICP-MS finish. Over range (Cu >= 1%) was analyzed using ALS method code ME-OG62 which involves a four-acid digest and an ICP-AES or AAS finish. The following QA/QC protocols have been adopted for this program: 1) Blank samples and Standards – Certified Reference Material (CRM’s) account for approximately 10% of core samples submitted to the laboratory, 2) QA/QC samples are spaced no more than ten samples apart, 3) geologists instruct the lab to run clean rock through equipment immediately following samples containing visible native gold and / or copper, and 4) the laboratory prepares coarse crush and fine pulverized duplicate samples and analyzes the duplicates. All results from blanks, standards and duplicates were reviewed and found to be accurate within acceptable tolerances for results obtained to date. The Qualified Person is of the opinion that the results reported in this press release are reliable.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Ltd. and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Sells Three Exploration Projects In The Golden Triangle District, British Columbia

VANCOUVER, BRITISH COLUMBIA, August 9, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report that it has executed a definitive agreement for a transaction in which its three exploration projects in the Golden Triangle District of British Columbia - Oweegee Dome, Willoughby and Todd Creek - have been sold to Sojourn Exploration Inc. (“Sojourn”, TSX-V: SOJ). The agreement to sell the properties was previously announced here when Millrock entered into a Letter of Intent to complete the transaction in February of this year.

The existing option agreements with Sojourn concerning Millrock’s Oweegee Dome and Willoughby projects have been terminated. Sojourn has announced a financing of $2.5 million, concurrent with the closing of the transaction. Millrock presently owns 1,800,000 Sojourn common shares and will be issued 7,823,417 additional common shares of Sojourn for a total of 9,623,417 Sojourn common shares. The shares will be held for 12 months under a voluntary pooling agreement. Upon closing of the financing, if $2.5 million is raised, Millrock will be a 19.9% owner of Sojourn (inclusive of the Sojourn shares issued to SDE for the acquisition mentioned below). Millrock will retain a royalty on the properties and receive reimbursement of $250,000 from Sojourn for exploration costs incurred in 2017.

As part of the transaction, Sojourn also purchased four other British Columbia projects from a private company Seven Devils Exploration Ltd. (“SDE”) for shares. The SDE team will take over executive and technical management of Sojourn.

Millrock President & CEO Gregory Beischer commented: “Sojourn will have a new management team that has outstanding depth in British Columbia metallogeny. We anticipate the newly constituted company will have great success following the Project Generator business model and make great discoveries that will, in turn, benefit Millrock shareholders.”    

The SDE properties give Sojourn (and therefore Millrock) exposure to three of British Columbia’s most productive belts for porphyry copper-gold exploration, the Toodoggone District (Oxide Peak project), the northern Quesnel Trough (Eagle project), and the Late Cretaceous Bulkley intrusions of the Skeena Arch (Rip project), as well as a newly discovered Miocene porphyry belt in Northern Vancouver Island (Teeta Creek project). Along with the Golden Triangle projects that Millrock has contributed, Sojourn will have a strong property portfolio with which to begin its Project Generator mineral exploration business.

The agreement will require the approval of the TSX Venture Exchange, and consent of some underlying claim owners. Gregory A. Beischer, President, CEO and a director of Millrock Resources, is also a director of Sojourn.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free) 

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include, without limitation, the receipt of TSX Venture Exchange approval to the agreements described in this news release and the satisfaction or waiver of the conditions set out in those agreements including Sojourn’s completion of a private placement to raise at least $2.5 million.

Millrock Reports Drill Results From La Navidad Gold Project, Sonora State, Mexico and Corporate Developments

VANCOUVER, BRITISH COLUMBIA, August 9, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report that the second phase of core drilling on the La Navidad gold project has been completed. The program was designed to test geological targets identified through soil and rock sampling, geophysical surveys and trenching. The drill holes targeted the Crossover and Cobre prospects. The Navidad project, located in Sonora State, Mexico, 100 km north of the City of Hermosillo, targets orogenic gold deposits and is being funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”). In total, 2,969 meters in 14 holes were drilled. Additionally, Hole NV-010 initially drilled in the first drilling campaign was deepened. The table following on the next page indicates significant and anomalous drill intersections for gold in grams per metric tonne (“g/t”). Highlights of the program with two different cutoff grades are shown on the table immediately below:

NR18-14 - Phase 2  Navidad Drill Results - 01.png

Millrock President & CEO Gregory Beischer commented: “Some strong results were obtained in this program from the Crossover and Cobre prospects with anomalous gold over significant core intervals. More drilling will be necessary to determine whether there is continuity between the discrete zones of mineralization intersected.”

Note: The mineralized intervals reported in the two table in this disclosure are down-hole, measured thickness. Based on initial interpretations it appears the mineralized zones intersected dip shallowly to the north at 15 degrees. However, there is not enough geologic control at this point to verify the interpretation and therefore to make an accurate estimate of true width with confidence. In particular, it is noted that hole NV-021 may have been drilled sub-parallel down the dip of several gold-mineralized structures. For the composited values reported, a 0.1 gram per tonne gold cut-off was used, and a maximum allowable internal dilution thickness of 3.0 meters was used. See note below concerning quality control – quality assurance.

 
NR18-14 - Phase 2  Navidad Drill Results - 02.png
 

Since forming an option to purchase agreement with the underlying mineral right owner of La Navidad in June 2017, and a simultaneous option to joint venture agreement with Centerra, Centerra and Millrock have collaborated to execute a comprehensive exploration program. Initial surface exploration results were reported in this press release and results of the first drilling program was reported in this press release by Millrock. Centerra is funding the exploration work to earn an interest in the project.

Corporate Developments
Darryl Cardey has tendered his resignation as a Director of Millrock for personal reasons. The Company thanks Mr. Cardey for eleven years of service and guidance since the inception of Millrock in 2007.

Millrock has sold 6,450,000 shares of PolarX Mining Ltd at AUD$0.105 for gross proceeds of AUD$677,350.

Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Drill core is kept in a secure location at all times. Core samples are assayed at the Bureau Veritas laboratory in Hermosillo, Mexico. Preparation and analysis methods are described in further detail here. The sample preparation method code being utilized for the current rock sampling program was PRP70-250. Analysis methods used include FA430 (30 gr/Fire Assay/ICP) and AQ-200 (Aqua Regia – ICP/MS). For every 20 rock samples, a blank sample known to contain less than 3 parts per billion gold or a standard sample (Certified Reference Materials) of known gold concentration, or a duplicate sample was also analyzed. The Qualified Person is of the opinion that the results reported in this press release are reliable. 

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Provides Update of Exploration Activity

VANCOUVER, BRITISH COLUMBIA, July 18, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to provide the following exploration update. Active partner-funded projects and projects that are under evaluation by potential partners are reviewed below. Anticipated partner-funded exploration for 2018 is valued at approximately US$5 million. The approved exploration budgets include approximately 10,000 meters of drilling at three different projects.

Gregory Beischer, Millrock President & CEO commented: “We have plenty of potential catalysts to improve the Millrock share price through the discovery of valuable resources. Millrock continues to be a prolific generator of new projects that attract funding of major and junior companies alike.”

 

EXPLORATION UPDATE: MID-POINT 2018

ALASKA

Alaska Range Project (copper-gold-silver skarn, copper-gold porphyry). In 2017, Millrock sold its Stellar Project to ASX listed PolarX Mining Ltd. (ASX: PXX) (“PolarX”). PolarX owned adjacent lands, and combined, the two blocks of claims form what is now called the Alaska Range Project. The claims protect over 35 kilometers of copper anomalism with skarn, porphyry-style and volcanogenic mineralization indicated. PolarX has recently raised ~AUD $2.4 million and authorized a budget of US$2.5 million for further drilling. As recently announced here, 23 holes are planned in the current program. Millrock continues as the exploration operator. The drilling program is well underway. Millrock owns 9.76% of the issued and outstanding shares of PolarX, which at recent market prices has a value of approximately AUD$2.2 million. Millrock also holds a royalty on portions of the property and is entitled to certain milestone payments.

Liberty Bell Project (gold). This gold project is under option to joint venture with Kinross, whereby Kinross can earn a 70% interest. Millrock is the exploration operator and is entitled to management fees, advanced minimum royalty payments, and a net smelter royalty. A program consisting of an induced polarization geophysical survey and geological mapping is planned for August-September. Drilling is anticipated in 2019. 

Goodpaster Project (intrusion related vein gold). Millrock owns (or has an option on) seven individual claim blocks in this district of Alaska near and adjacent to the Pogo Mine – a successful gold mine operated by Sumitomo. The Company has developed a compelling target at the West Pogo portion of this project. Sumitomo has recently announced a gold discovery to the east of the Millrock – Sumitomo claim boundary. Two major gold companies and a junior are considering a partnership on the Millrock claims.

 

SONORA, MEXICO

La Navidad (gold). This project targets large-tonnage gold deposits. Centerra Gold is the funding partner and can earn up to an 80% interest. Centerra has funded a comprehensive, systematic geological-geophysical-geochemical exploration program that has been ongoing since 2017. Three main target areas have been delineated. A 2,900-meter drilling program has recently been completed to test the Cobre and Crossover targets. Complete results are anticipated in early August.

El Picacho (gold). The target at this project is an orogenic gold deposit similar to the San Francisco mine, which is approximately 15 kilometers to the east in a very similar geological setting. Centerra Gold is also funding this project and can earn 80% interest. This has been a very active project in the first half of 2018. Drill targets are emerging from the exploration work. Centerra has authorized a drilling program to begin later in the summer.

Guadalcazar (silver-lead, zinc skarn). This project hosts a high-grade silver-zinc-lead skarn deposit with good drill intersections and historic mine workings. There is potential to expand upon the known deposit. Millrock has received an offer to form an option to purchase agreement.

Batamote (copper porphyry). This project targets a porphyry in the Cananea – Caridad trend. There are some good geological signs of a porphyry copper deposit from prior, historic work. A major copper company is currently evaluating the project. 

Los Cuarentas (low sulfidation epithermal gold-silver). Millrock has acquired an option to purchase a key internal claim block called Santa Rosalia. Drill targets have been developed and drilling permits are in place. Numerous potential partner companies are evaluating this project.

 

NEW MEXICO

Lordsburgh (lithium brine). Millrock recently staked claims over a playa in southeastern New Mexico. The claims cover the deepest part of a sedimentary basin that has the potential for the accumulation and entrapment of lithium bearing brines. Millrock has sold the claims to Xinda International Corp. (“Xinda”) (OTC: XNDA). Consideration was US$50,000 (payable upon initial financing) plus 19.9% of the issued and outstanding Xinda shares. In the event that US$5 million is spent on the claims or the surrounding area of interest by Xinda, Millrock will be issued the number of Xinda shares needed to restore 19.9% ownership at that time (assuming that Millrock has not sold any of the initial share payment). Millrock will also be entitled to a 3% Gross Sales Royalty in the event of lithium production. The project was brought to Millrock by a geologist that was entitled to a finder’s fee. The finder agreement has been assumed by Xinda. 

Antelope Pass (Carlin-style or intrusion-related gold). Over the past several months Millrock has staked claims covering an extensive hydrothermal alteration zone intermittently exposed over at least 10 kilometers. Geological features at Antelope Pass have similarities to the highly productive Carlin Trend of Nevada. Potential partner companies are evaluating this project.

Red Basin (roll-front uranium). For several years Millrock has held an option agreement on claims covering a roll-front style uranium deposit discovered in the 1970s by Gulf Minerals. Recently, Millrock converted the option agreement to a finder’s agreement and took possession of the claims. Finder’s fees will be paid to the finder in the event that Millrock secures a funding partner for the project.

 

BRITISH COLUMBIA

Todd Creek, Oweegeee Dome, Willoughby (gold and base metals). Millrock acquired three projects in the Golden Triangle District in late 2015. Two of these projects have been optioned to Sojourn Exploration Inc. (“Sojourn”) (TSX-V: SOJ). A proposed transaction would have Millrock sell all three projects to Sojourn, and a new technical and management team would take over, bringing in four of their own projects. A Letter of Intent has been signed. If the deal is completed, Millrock will own 19.9% of a new top-flight BC project generator and will hold royalties on its three properties.

 

Qualified Person

The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.

Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Mining Limited, Sojourn Exploration Inc., and Xinda International Corp.

 

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO 

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Announces Agreement Change at Red Basin Uranium Project, New Mexico, USA

VANCOUVER, BRITISH COLUMBIA, July 12, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report that it has reconfigured an option agreement and consolidated a land position at the Red Basin uranium project located in the state of New Mexico.

Previously, in an agreement announced in 2014, Millrock made an option agreement to acquire certain claims thought to cover uranium deposits, and staked claims covering areas with exploration potential. Recently, Millrock made an alternate agreement with the owner of the optioned claims. The option agreement was cancelled, and in its place a finder’s agreement was executed. Under the new agreement the finder will be paid a percentage of exploration expenditures in the event that a third party funds exploration programs on the claims or in a surrounding area of interest. The finder would be paid 2.5% of exploration expenditures with an annual US$25,000 minimum, and the finder’s fee would be capped at US$250,000. The previously optioned claims are being transferred to Millrock ownership and going forward the only holding cost will be the annual federal claim rental payments.

Millrock President & CEO Gregory Beischer commented: “We acquired these claims as a target of opportunity in 2014, thinking at the time that a surge in uranium prices was imminent. That has not proven to be the case, but we have retained the project, knowing one day prices will improve and that this uranium exploration project will be attractive to uranium explorers. The reconfiguration of this agreement allows us to retain the claims at a very low cost.”

The claims are thought to be underlain by at least three uranium deposits that may be conducive for In-situ Recovery (ISR) mining.  Millrock has unconfirmed reports that the deposits were discovered and drilled by Gulf Minerals in the 1970s. The project is located in Catron County, New Mexico, west of the town of Sorroco and 18 km north of the village of Datil, which is situated on Highway 60.

Roll-front type uranium mineralization is known in the Red Basin – Pietown District within which the property is situated. Minor historic past production has been reported from small mines off the claim block dating back to the 1950s. The uranium mineralization in the basin occurs primarily at the lower contact of the Baca Formation sandstone in association with redox boundaries and organic material. The favourable lower Baca Formation traverses the new Millrock property. Millrock has documented the location of approximately 239 drill hole monuments that are situated on the present Red Basin claim group.  Most of the holes were drilled by Gulf Minerals in the 1970s. Based on the approximate 30m drilling pattern in three particular areas and from discussion with geologists familiar with the area, it is thought that uranium deposits underlie these densely drilled areas. Millrock Chief Exploration Officer Philip St. George has observed drill logs from the historic drill holes, but Millrock does not presently have access to them.

The property now consists of 103 claims in which Millrock holds a 100% interest with no underlying royalty. The federal mining claims on the lands are administered by the US Forest Service. Millrock has secured exploration drilling permits.

Millrock sees potential to quickly define a uranium resource and expand upon it. If uranium deposits are present, they potentially could be mined by low-cost ISR mining methods. However, Millrock cautions readers that there is no certainty the proposed exploration will lead to the discovery of a uranium deposit or that if discovered, a deposit could be profitably extracted.

Millrock is currently seeking a joint venture partner. Additional information on the Red Basin project, as well as all of Millrock’s available properties is available on the Millrock Resources website.

The technical information within this document has been reviewed and approved by Gregory A. Beischer, President & CEO of Millrock Resources Inc. Mr. Beischer is a qualified person (QP) as defined in NI 43-101. The QP has inspected the property and observed drill hole monuments but has not verified drill hole logs. 

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD 

“Gregory Beischer”

 Gregory Beischer, President & CEO

 FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free) 

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Announces Staking of Lithium Brine Project and Sale of Claims, New Mexico, USA

VANCOUVER, BRITISH COLUMBIA, June 21, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report that it has entered into a Purchase and Sale Agreement with Nevada-registered Xinda International Corp (“Xinda”), whereby Xinda will acquire a 100% interest (subject to a 3% gross final sales royalty provision) in federal mining rights comprising the Lordsburg lithium project (“the Assets”) in the State of New Mexico, USA.

Millrock acquired the claims by staking over the past several months. In consideration for acquisition of the Assets, Xinda has agreed to pay Millrock cash consideration of $50,000 and will issue that number of shares that will equal 19.9% of the issued and outstanding Xinda stock. Also, under a milestone payment agreement Xinda has agreed to a future share payment in the event that Xinda makes exploration expenditures of US$5.0 million on the claims or in a surrounding Area of Interest (“AOI”). Upon reaching that milestone, Xinda will issue to Millrock that number of shares of that will result in Millrock being restored to owning 19.9% of the issued and outstanding shares of Xinda at that time, provided that Millrock has not sold any of its initial stake in the company. Xinda has also assumed the obligations to make certain payments in accordance with a Finder agreement with a third party that brought the conceptual target to the attention of Millrock. Xinda trades on the over-the-counter markets under the symbol XNDA.

The Lordsburg lithium brine project is located in southern New Mexico and consists of 54 federal mining claims covering 1080 acres surrounded by a large Area of Interest (“AOI”) which measures in excess of 2,200 square miles. The objective of the exploration project is to discover large volumes of lithium-bearing brine from which lithium metal can be economically extracted. The project covers a large, closed, sedimentary basin that is of adequate catchment area for the accumulation and recharge of lithium-bearing brines. The basin is surrounded by young, lithium-bearing volcanic rocks from which lithium may have been leached over time, and migrated to depositional sites within the basin as brine.

The claims are situated over a central playa or salar, and cover the deepest portions of the sedimentary basin, where brine would be most likely to accumulate. As evidenced by local, active hot springs, there is a high regional heat flow to drive fluid movement. Structures, interpreted from geophysical surveys, provide fluid pathways and potentially form boundaries that create brine pool traps. The arid climate of southern New Mexico allows for brine formation, and geological age relationships demonstrate that sufficient accumulation time was available in this long-lived basin to develop sustainable brines. This is an early-stage conceptual target. No prior exploration is known to have occurred for lithium at this location.

Xinda has indicated it intends to follow the exploration plan below:

  1. Acquire satellite imagery and perform linear analysis for structures;
  2. Surface rock mapping and sampling;
  3. Water well sampling;
  4. Permitting for geophysical surveys and well drilling;
  5. Detailed ground gravity geophysical survey;
  6. Controlled-Source audio-frequency magnetotellurics geophysical survey;
  7. Data integration and basin modeling; and
  8. Well drilling.

Xinda has stated it intends to raise capital for the first seven exploration steps, and upon completion, do a secondary financing for drilling.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Mining Limited, Sojourn Exploration Inc., and Xinda International Corp.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Provides Update of Exploration Activity

VANCOUVER, BRITISH COLUMBIA, June 20, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") reports that drilling is underway at the Alaska Range Project. Millrock is the exploration operator and work is being funded by PolarX Mining Ltd. (“PolarX”) (ASX: PXX). Millrock owns 9.76% of PolarX shares and is entitled to milestone payments and royalty payments on portions of the project.

Additional details about the drilling program and photographs appear in a PolarX press release that can be found at this link.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Mining Limited and Sojourn Exploration.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

 

Millrock Announces Additional Trench Results; Centerra Gold Authorizes Drilling Program Extension at La Navidad Gold Project, Sonora State, Mexico

VANCOUVER, BRITISH COLUMBIA, June 19, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report the current drilling program underway at the La Navidad gold project has been extended. The project, located in Sonora State, Mexico, 100 km north of the City of Hermosillo, targets orogenic, bulk mineable, run-of-mine, oxidized deposits that could be processed by heap leaching.

Exploration work is being funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”). Originally, the core drilling program was to consist of 1,650 meters in seven holes with further drilling contingent upon results. After a recent review, Centerra has authorized a drilling program extension. The complete program will now consist of approximately 2,900 meters in 17 holes. Drilling is presently progressing on the tenth hole. The full program is likely to be completed by the end of June, based on the rate of production realized in the first part of the program.

The current drilling program is targeting the large, strong, gold-in-soil anomalies previously identified at the Cobre and Crossover prospects in 2017. Recent trenching has confirmed bedrock gold mineralization at surface in these prospect areas. Initial trench results were reported here.

Following is a table of results of rock chip-channel samples from all 19 trenches excavated and sampled. A gold cutoff of 0.1 grams per tonnne gold was used to calculate the composite intervals using a maximum of 3.0 meters of internal dilution. Geological relationships are not clear enough to accurately estimate true width of the anomalous zones reported. Trenches NAVTR-10, NAVTR-11, NAVTR-17 and NAVTR-18 did not contain significant anomalous results.

NR18-09 Navidad 2018 Extended Drilling - Tabel Trench Results.png

Since forming an option to purchase agreement with the underlying mineral right owner of La Navidad in June 2017, and a simultaneous option to joint venture agreement with Centerra, the companies have collaborated to execute a comprehensive exploration program. Centerra is funding the exploration work to earn a majority interest in the project.

Quality Control – Quality Assurance

Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Drill core and rock samples are kept in a secure location at all times. Rock samples are assayed at the Bureau Veritas laboratory in Hermosillo, Mexico. Preparation and analysis methods are described in further detail here. The sample preparation method code being utilized for the current rock sampling program was PRP70-250. Analysis methods used include FA430 (30 gr/Fire Assay/ICP) and AQ-200 (Aqua Regia – ICP/MS). For every 20 rock samples, a blank sample known to contain less than 3 parts per billion gold or a standard sample (Certified Reference Materials) of known gold concentration, or a duplicate sample was also analyzed. The Qualified Person is of the opinion that the results reported in this press release are reliable.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free) 

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Partner PolarX Announces Drill Program On The Zackly Copper-Gold Deposit, Alaska Range Project, Alaska

VANCOUVER, BRITISH COLUMBIA, May 31st, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report that its partner PolarX Limited (ASX: PXX) (“PolarX”) has issued a press release announcing that the next phase of drilling will commence soon at the Zackly copper-gold deposit at its Alaska Range Project. The full press release issued by PolarX can be viewed by clicking on this link. The program is designed to expand upon the Inferred Resource that was calculated by PolarX using the standards of the Australian Joint Ore Resources Commission (JORC) announced by PolarX earlier this year.

Millrock presently owns 9.76% of the issued and outstanding shares of PolarX and is entitled to certain milestone and royalty payments on portions of the project.            

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD

“Gregory Beischer” 

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Begins Second Round of Drilling at La Navidad Gold Project, Sonora State, Mexico

VANCOUVER, BRITISH COLUMBIA, May 16, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report that a second round of drilling is beginning at the La Navidad gold project. The project, located in Sonora State, Mexico, 100 km north of the City of Hermosillo, targets orogenic, bulk mineable, run-of-mine, oxidized deposits that could be processed by heap leaching. Exploration work is being funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”). The core drilling program will consist initially of 1,650 meters in seven holes, ranging from 150 to 250 meters in depth. These holes will target the large, strong, gold-in-soil anomalies previously identified at the Cobre and Crossover prospects. Recent trenching has confirmed bedrock gold mineralization at surface in these prospect areas. Additionally, at least one hole from the initial program completed in late 2017 will be deepened to test for further mineralization at the Anchor prospect. Results of that program were reported in a prior press release here. Contingent upon results of the upcoming drilling phase, the drilling program may be extended.

Millrock crews have been actively exploring the Cobre and Crossover prospects since early February. Detailed geological mapping with rock sampling (341 samples) was completed. It was found that the strongest soil anomalies occur in folded, faulted, Jurassic metasedimentary rocks in close proximity to diorite and monzonite dikes which follow pre-existing fault structures. Also, three lines of in-fill induced polarization geophysical surveys totaling 5.4 kilometers are in progress. The induced polarization survey has identified low-angle structures and stratigraphy conducive for orogenic gold deposition. An extensive program of surface trenching (1,398 meters in 16 trenches) and rock chip sampling (661 samples) has been completed. Results from the first eight trenches are reported below. A 0.1 parts per million gold cutoff was used to calculate the composite intervals. Geological relationships are not clear enough to accurately estimate true width of the anomalous zones reported.

NR18-07 Navidad 2018 Drilling - Results.png

Since forming an option to purchase agreement with the underlying mineral right owner of La Navidad in June 2017, as well as a simultaneous option to joint venture agreement with Centerra, the companies have collaborated to execute a comprehensive exploration program. Centerra is funding the exploration work to earn a majority interest in the project. 

Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Drill core and rock samples are kept in a secure location at all times. Rock samples are assayed at the Bureau Veritas laboratory in Hermosillo, Mexico. Preparation and analysis methods are described in further detail here. The sample preparation method code being utilized for the current rock sampling program was PRP70-250. Analysis methods used include FA430 (30 gr/Fire Assay/ICP) and AQ-200 (Aqua Regia – ICP/MS). For every 20 rock samples a blank sample known to contain less than 3 parts per billion gold or a standard sample (Certified Reference Materials) of known gold concentration, or a duplicate sample was also analyzed. The Qualified Person is of the opinion that the results reported in this press release are reliable.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc. 

ON BEHALF OF THE BOARD

“Gregory Beischer”

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Announces Stock Option Grants

VANCOUVER, BRITISH COLUMBIA, March 26, 2018 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces it has granted a total of 1,295,000 stock options under the Company’s stock option plan to directors, officers, employees, and consultants. The options are exercisable at $0.23 per share for a period of five years.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Limited. and Sojourn Exploration Inc. 

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free) 

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

Millrock Partner PolarX Reports Maiden Resource for the Zackly Copper-Gold Deposit, Alaska Range Project, Alaska

VANCOUVER, BRITISH COLUMBIA, March 19, 2018 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock") is pleased to report that its partner PolarX Limited (ASX: PXX) (“PolarX”) has issued a press release announcing an Inferred Resource for the Zackly copper-gold deposit at its Alaska Range Project. The full press release issued by PolarX can be viewed by clicking this link. The Inferred Resource was calculated by PolarX using the standards of the Australian Joint Ore Resources Commission (JORC).

Millrock presently owns 10.74% of the issued and outstanding shares of PolarX and is entitled to certain milestone and royalty payments on portions of the project.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorers PolarX Ltd. and Sojourn Exploration Inc.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve 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 statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.