Millrock Options Two Golden Triangle Projects To Sojourn Ventures, British Columbia, Canada

VANCOUVER, BRITISH COLUMBIA, June 14th, 2017 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces two separate option agreements whereby it has granted an option to Sojourn Ventures Inc., (TSX-V: SOJ) ("Sojourn"), which may purchase a 100% interest (subject to a royalty provision) in the Willoughby and Oweegee Dome projects in the Golden Triangle mining district northeast of the Town of Stewart, British Columbia, Canada.

Sojourn must make share issuances and incur exploration expenditures over three years in order to exercise the options and take ownership of the properties. The transaction and Sojourn’s plans are more extensively described in their press release here. After the first share issuance and the equity financing contemplated by Sojourn, Millrock will own approximately 15% of the issued and outstanding shares of the company.

Gregory A. Beischer, President & CEO of Millrock commented: “Historically Millrock has made exploration agreements primarily with major mining companies. However, we anticipate that shares of junior gold exploration companies will do well in the coming years. Millrock will become a major shareholder of Sojourn and as a result, our shareholders may realize the best value possible for these assets. Millrock will execute the initial exploration programs on the properties on behalf of Sojourn and in return will be entitled to a management fee. We look forward to advancing these exciting gold and copper projects."

Option Agreements
To exercise the option agreements on the two properties, Sojourn must issue the following common shares of Sojourn to Millrock and incur the following expenditures on the two properties:

At the completion of the share payments and work commitments, Sojourn will have earned a 100% interest in the properties subject to certain Net Smelter Return (NSR) royalties. Upon exercise of the option on the Oweegee Dome project, Millrock will vest with a 2% NSR royalty. On Willoughby, Millrock will vest with a 1.5% NSR royalty.

Attributes of the Willoughby high-grade gold – silver project have been described by Millrock in a press release found here. Exploration progress made by Millrock on the Oweegee Dome porphyry copper-gold project was described in this press release. Summary descriptions of all Millrock’s Golden Triangle district projects can be found at this link.

Investor Rights Agreement
Concurrently with entering into the Option Agreements, Sojourn and Millrock entered into an Investor Rights Agreement which entitles Millrock to participate in future Sojourn Placements to maintain its percentage interest in Sojourn provided Millrock holds at least 7.5% of Sojourn’s issued and outstanding common shares. The Investor Rights Agreement also entitles Millrock to nominate one director to Sojourn’s board of directors as long as it continues to hold at least a 7.5% interest in Sojourn. Millrock has also granted Sojourn a one-year right of first refusal over Millrock’s Todd Property, located near the Willoughby and Oweegee Properties.

The agreements are subject to the approval of the TSX Venture Exchange, approval of an individual from whom most of the Willoughby tenures were purchased previously by Millrock, and upon completion of the equity financing contemplated by Sojourn.

The technical information within this document has been 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.

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.

"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.

Millrock Acquires Option On La Navidad Gold Project, And Makes Joint Venture Agreement With Centerra Gold, Sonora State, Mexico

VANCOUVER, BRITISH COLUMBIA, June 13th, 2017 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces it has entered an option agreement to purchase the La Navidad gold project from a private Mexico firm, Western Mining S.A. de C.V (“Western”). The concessions under option are adjacent to surrounding concessions already held by Millrock. Together the district-scale land package covers more than 25,000 hectares in the Magdalena di Kino Mining area of Sonora State, Mexico. Simultaneously with the purchase agreement, Millrock has entered an option to joint venture agreement with Centerra Gold Inc. (“Centerra”). Centerra will fund initial exploration on the project. Work is scheduled to begin immediately.

Gregory A. Beischer, President & CEO commented: “There is at least one known, moderately-dipping, near-surface structure that is reported to host gold over significant intervals. Through drilling, we look forward to verifying the previously-reported historic results and expanding the limits of the reported mineralization. Pursuing this project has been made possible through our ongoing partnership with Centerra”.

Gold mineralization at La Navidad is hosted by low-angle faults related to the Magdalena Metamorphic Core Complex. The zone of faults has been traced over a 2.2 kilometer distance and ranges from 300 to 600 meters in apparent, surface width. Sub-parallel shears that trend northwest within an east-west striking structural zone host quartz and calcite veins and stockworks with siderite and hematite. The mineralized structures are enveloped by zones of silicification and hematitic, reddish-stained, altered sedimentary rocks.

Historic reports indicate that twenty-one shallow reverse circulation holes totaling 1,126 meters were drilled in 1996. According to the author of a 1999 report, thirteen of the holes intersected “significant” gold mineralization (Summary Report, La Navidad – Shelly Gold Project, F.M. Johnson, 1999). Table 1 below indicates a selection of the better historic drill results. Drilling done to date did not completely test the target. Millrock believes there is good potential to extend the mineralized zone and to find parallel zones at deeper levels.

Table 1. Selected drill intersections reported by Western Mining from 1996 program.

Table 1. Selected drill intersections reported by Western Mining from 1996 program.

Millrock cautions that these drill results are historic and have not been (and cannot be) verified by the qualified person that is responsible for the contents of this disclosure. The results reported in Table 1 are taken from the 1996 report written by F.M. Johnson. While it is known that the drill samples were assayed at a well-known, reliable, laboratory (Bondar – Clegg of – at the time – 130 Pemberton Avenue, North Vancouver, B.C. Canada V7P2R5), the Millrock qualified person has not seen the assay certificates. No drill sample chips, rejects, or pulps were retained by Western Mining from the 1996 drilling program and the qualified person has therefore not viewed or resampled any of the rock drill samples that were assayed. The qualified person has visited the project site, observed vein structures in rock outcrop and old workings and believes that the reported drill intersections are likely to be accurate. The holes were drilled vertically, and therefore the reported intersections are apparent thickness. True width is likely to be approximately 65% of the reported apparent width.

Millrock has an option to purchase a 100% interest in La Navidad from Western. To complete the purchase, US$2,500,000 in option payments to Western may be made over a four-year period. An initial payment of US$125,000 has been made. Three further option payments of US$125,000 each may be made at annual intervals. A final option payment of US$2,000,000 could be made to complete the purchase of the mineral rights. During the option term, at least US$3.0 million must be spent on exploration on La Navidad in order to exercise the purchase option. The first year commitment is US$500,000. Millrock, with Centerra concurrence, may withdraw from the option agreement at any time.

Through its agreement with Millrock, Centerra has the option to earn an 80% interest in La Navidad by funding the all of the financial obligations in the underlying agreement between Millrock and Western. At vesting, a joint venture would be formed. Millrock may participate by contributing its pro-rata share of costs, or it can elect to be diluted to a 2.0% Net Smelter Return royalty.

The technical information within this document has been 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.

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 Resources Inc.
2300-1177 West Hastings Street
Vancouver, British Columbia
V6E 2K3

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.

"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."

Millrock Acquires Option On El Picacho Gold Project, In An Alliance Agreement With Centerra Gold, Sonora State, Mexico

VANCOUVER, BRITISH COLUMBIA, June 8th, 2017 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces it has entered an option agreement to purchase the El Picacho project. The project consists of district-scale concessions that cover approximately 6,300 hectares, located in Sonora State, Mexico, 18 kilometres southwest of the San Francisco Gold Mine which is operated by Alio Gold Inc. The target is an orogenic gold deposit of similar scope to that present at San Francisco. The project was identified to Centerra Gold Inc. (“Centerra”) by Millrock, and Centerra has agreed that El Picacho will become a “designated project” under the terms of the strategic alliance agreement (“Alliance”) in place between the companies. The Alliance was announced here in early 2017. Centerra has provisionally approved a US$460,000 exploration budget for 2017 for the El Picacho project.

LISTEN: Greg Beischer Discusses The El Picacho Acquisition and What It Means For Millrock Shareholders

Gregory A. Beischer, President & CEO commented: “One of the senior members of Millrock’s Mexico exploration team is highly familiar with the San Francisco Gold Mine. In comparison to San Francisco, he reports many similarities in the rocks and structures exposed on the El Picacho project. This is the first designated project to come out of our Alliance with Centerra and we look forward to working on this project with them”.

At El Picacho Jurassic rocks are juxtaposed in a thrust fault relationship with much older Precambrian age rocks. Structural relationships, alteration, and mineralization discovered to date all indicate favorable conditions for the formation of an orogenic gold deposit similar in geologic style to the prolific gold mines of the La Herradura district to the northwest, or to the nearby San Francisco Gold Mine. 

Millrock has an option to purchase a 100% interest in the mineral estate. To complete the purchase US$1,723,500 in option payments are due over a four-year period. An initial payment of US$21,375 has been made. Seven equal option payments of US$21,375 will be due at six-month intervals.  A final option payment of US$1,552,000 would be made to complete the purchase of the mineral rights. Millrock, with Centerra concurrence, may withdraw from the option agreement at any time.

Centerra Gold has the option to earn an 80% interest in El Picacho by making exploration and other expenditures of US$2.0 million. Millrock’s team will execute the exploration work and be entitled to a modest management fee. At vesting, a joint venture will be formed, Millrock may participate by contributing its pro-rata share of costs, or it can elect to dilute to a 1.0% Net Smelter Return royalty.

The underlying surface owner will be paid US$10,000 annually for the first four years of exploration. Millrock may extend the option for two additional years for US$20,000 per year and may purchase a surface tract at the price of US$1,000 per hectare.

The technical information within this document has been 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.

 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 Resources Inc.
2300-1177 West Hastings Street
Vancouver, British Columbia
V6E 2K3

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. 

"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."

Millrock Sells Stellar Copper Gold Project for Equity Stake in New Alaska Exploration and Development Company - Polaris Minerals

VANCOUVER, BRITISH COLUMBIA, May 24, 2017 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock" or “the Company”) announces that it has sold its Stellar copper-gold project to Vista Minerals Pty Ltd (“Vista”). The project is located in central, Alaska 15 km north of the Denali Highway and 150 km west of the town of Cantwell. Previously, Vista was earning an 80% joint venture interest in the project under an agreement previously announced here. This agreement is now terminated. The consideration paid to Millrock is 25,140,064 Vista shares which represents approximately 27.7% of the company. Vista and Millrock have also agreed to immediately enter into an agreement with Coventry Resources Limited (“Coventry”).  Coventry owns an option on the adjacent Caribou Dome project upon which Coventry has reported a high-grade copper resource that is described in this Coventry press release.

Under the second agreement, Vista shareholders, including Millrock, will exchange their Vista shares for Coventry shares. Coventry has indicated its intent to, in the same transaction, raise AUS$10.0 million in an equity financing, and then immediately consolidate its shares on a 1 for 5 basis. Following the transaction, the company will be renamed Polaris Minerals Limited (“Polaris”). Coventry must obtain shareholder approval for the transaction. Millrock must agree with the terms of the equity financing that Coventry will undertake, and can withdraw if the terms are not satisfactory.

Under the terms of the planned transaction, Millrock will have:

  • Shares: Millrock will be issued 128,269,838 pre-consolidation Coventry shares that will convert to 25,653,968 Polaris post-consolidation shares after the name change. If AUS$10 million is raised in the planned equity financing Millrock will own 9.03% of the post-transaction issued and outstanding shares of Polaris.
  • Milestone Payments: If Polaris, at any time prior to the end of 2032, establishes an Indicated Mineral Resource (using the Australasian Joint Ore Reserves Committee Code - “JORC Code” - definition) of one million ounces of gold within the Stellar property area of interest, it will pay Millrock US$1,000,000, and in the same period, if Polaris establishes a JORC Code Indicated Mineral Resource of one million tonnes of contained copper or copper equivalent within the Stellar property, Polaris will pay Millrock US$2,000,000.
  • Royalty: A 1% Net Smelter Returns royalty on all metals which will vest upon closing of the transaction.
  • Advance Royalty: Polaris will pay advance royalty payments to Millrock in accordance with the following schedule:
    • US$20,000      March 31, 2019
    • US$25,000      March 31, 2020
    • US$30,000      March 31, 2021
    • US$35,000      March 31, 2022
    • US$40,000      March 31, 2023
    • US$45,000      March 31, 2024
    • US$50,000      March 31, 2025
    • US$55,000      March 31, 2026
    • US$60,000      March 31, 2027, and each year thereafter until commercial production occurs. Polaris may recoup advance royalty payments from production royalty payments.
  • Operator & Fees: Millrock will be the exploration operator and will be entitled to a management fee calculated as 10% of expenditures.

A further description of the transaction, the combined property position and the financing can be found in the press release made by Coventry here.

Millrock and Coventry have planned a major exploration program for summer 2017, in which the Zackly high-grade copper-gold skarn will be re-drilled in an attempt to confirm the historic resource, and to test for extensions of the known deposit. Induced polarization surveys done by Vista, and soil geochemical surveys conducted previously by Millrock, indicate potential for these extensions to exist. Information on the Zackly skarn can be found on the project description on Millrock’s website here.

In the event that the agreement between Vista and Coventry does not proceed, then Millrock and Vista will enter an agreement whereby Millrock will own a 19.9% interest in Vista and be entitled to the same milestone and royalty payments described above. Vista would be required to spend a total of US$4.0 million on the Stellar project claims.

The technical information within this document has been 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. 

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 Resources Inc.
2300-1177 West Hastings Street
Vancouver, British Columbia
V6E 2K3

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.

"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."

Millrock and Centerra Gold Form Strategic Alliance To Target Gold Projects in Sonora, Mexico

Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces it has entered a strategic alliance agreement (“Alliance”) with Centerra Gold Inc. (“Centerra”). Under the Alliance Millrock will execute generative exploration and evaluate prospective properties to develop gold exploration projects. Centerra will provide funding of at least US$250,000 this year.

Millrock Announces Drilling Results at Los Chinos Gold Project, Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA, December 9, 2016 – Millrock Resources Inc. (TSX-V: MRO) (“Millrock”) announces that it has completed an initial drilling program at its Los Chinos gold project in Sonora State, Mexico. The project is the subject of a previously-announced option to joint venture agreement with Centerra Gold Inc. (“Centerra”). Under the option agreement, Centerra can earn a 70% interest by funding US$5.0 million in exploration expenditures over a five year period. Millrock manages the exploration work in close consultation with Centerra.

The drilling program consisted of ten holes totaling 1,990 meters. Three target areas were tested; the El Camino zone, La Tinaja prospect, and Pitalla zone. Anomalous surface geochemical values detected at surface with induced polarization anomalies were targeted. The induced polarization anomalies were explained by fault structures with oxidized sulfide minerals. Weakly anomalous gold assay results were encountered in two of the drill holes, but no significantly mineralized intervals were drilled.

The best intersections were from hole 16-04 which returned 4.0 meters grading 0.69 grams per tonne gold and hole 16-09 which returned 6.3 meters grading 0.185 grams per tonne gold.

Millrock and Centerra are evaluating options for further exploration of the Los Chinos property. 

Located just 100 kilometers north of Millrock’s office in the city of Hermosillo, Mexico, the Los Chinos property is immediately adjacent to Highway 15. The Los Chinos property is located approximately 50 kilometers south of the San Francisco gold mine which is operated by Timmins Gold Corp. The Los Chinos property is in a very similar geological setting as the San Francisco mine and is prospective for mesothermal, orogenic gold deposits. Three zones of mineralization have so far been delineated by Millrock; El Camino, La Tinaja and Pitalla zone. This link leads to a description of the project with maps.

The technical information within this document has been 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.

Millrock adheres to stringent Quality Control – Quality Assurance standards. Drill core was delivered from the drill hole location by Millrock personnel to Millrock’s secure facility in Hermosillo, Mexico. In this drilling program 1141 core samples were collected by splitting the core in half with an electric rock saw. Half of the core was retained as a geological record in Millrock’s facility. Regular samples were collected over two meter intervals except when a lithologic contact or fault zone was encountered. No samples were smaller than one meter wide. For every 20 core samples, a blank sample known to contain no gold and a standard sample of known gold concentration were also analyzed. Three different standards were utilized including MEG-Au 11.15 (3.4 ppm Au), MEG-Au 12.11 (1.5 ppm Au) MEG-Au 13.01 (0.31 ppm Au). Additionally, a duplicate sample was collected every 30 samples by quartering the core.  Two quarter samples from the same depth were then sent to the lab with different sample numbers.  All results from blanks, standards and duplicates were reviewed and found to be accurate within acceptable tolerances. Core samples were placed in plastic sample bags and inventoried before delivery to Bureau Veritas lab in Hermosillo, Mexico for analysis. Sample were kept in a secure location prior to delivery to the laboratory. Analysis methods used include FA430 (30 gr/Fire Assay/AAS) and AQ-200 (Aqua Regia – ICP/MS). As a further precaution 117 samples were selected for re-analysis using FA-450 (50 gr/Fire Assay/AAS) and 37 samples were selected for re-analyses using FS631-1kg (Screen Metallics). Results have not yet been received for the 37 samples submitted for screen metallics. All samples were stored in Millrock’s core shed in a secure area until deliver to the laboratory could be made.

ABOUT MILLROCK RESOURCES:
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 primarily comes from 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 and Altius.

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Phone: (604) 638-3164
Toll-Free: (877) 217-8978
mhenderson@millrockresources.com

Millrock Resources Inc.
2300 – 1177 West Hastings St.
Vancouver, BC V6E 2K3
Canada

FORWARD LOOKING STATEMENTS:
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.

“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.”

Millrock Assembles Land Position in Goodpaster Mining District, Near Pogo Mine, Alaska

VANCOUVER, BRITISH COLUMBIA, October 5, 2016 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces that, through a series of purchase and option agreements and claim staking, it has assembled a large land position covering high-potential gold targets in the Goodpaster Mining District, near the Pogo gold mine, in central Alaska. The Pogo Gold Mine is operated by Sumitomo Metal Mining Company. The mine produces in excess of 300,000 ounces of gold annually from high-grade quartz vein deposits. Millrock now holds six discrete claim blocks in the district covering an area of 15,847 hectares. The claims cover soil geochemical anomalies, many of which are untested. On several properties there are intersections obtained through drilling by prior operators that are strongly anomalous in gold and deserving of follow-up exploration.

Gregory A. Beischer, Millrock’s President and CEO commented: “Exploration near an existing mine has often proven fruitful for gold explorers. So far, only one hard rock lode mine has been discovered in the Goodpaster Mining District, and it is a very good one. We believe that one day there will be multiple lode gold producers in the area. By virtue of these recent property acquisitions, Millrock now has what we think to be the best-potential land in the mining district. The claims are positioned based upon the results of millions of dollars of regional and local exploration done by the various vendors”.

The claim groups acquired, the vendors, and the agreement terms are summarized as follows:

1. From Kiska Metals Corporation (“Kiska” TSX.V KSK)

A 100% interest of six individual claim blocks totaling 2,315 hectares (Eagle, ER, Beverley – Cal - Surf, SE Surf, Scot and Boundary), subject to certain continuing obligations to a subsidiary of Kiska, Capstone Mining Corp, and Anglogold Ashanti (U.S.A.) Exploration, Inc., (“AGAUSA”),:

  • Cash: US$32,000;
  • Milestone payment: Kiska will be paid $1 for every gold equivalent ounce included in or added to the Measured, Indicated and Inferred resource categories by the time a Decision to Mine is made;
  • Royalty: 1% Net Smelter Returns Royalty, half of which may be purchased for US$2.0 million;
  • Advance Minimum Royalty (“AMR”) payments in the amount of $50,000 per year beginning on the 3rd anniversary of the Agreement. One AMR payment can be postponed for a period of 3 years after the initial payment;
  • On the ER and Eagle claim blocks to AGAUSA, a 3% Net Smelter Return Royalty that may be reduced to 1.5% by paying US$1.0 million;
  • On the Surf claim block, a payment to Capstone Mining Corp. of CAD$50,000, or, at Millrock’s choice, an issuance of 50,000 share of Millrock stock, if and when a total of CAD$988,410 has been spent exploring the property. If a positive feasibility study is tabled concerning any portion of the claim blocks, an additional 100,000 Millrock shares will be paid.

2. From Aurora Exploration

An option to purchase a 100% interest in the West Pogo (“WP”) Aurora claims covering 1,716 hectares:

  • Exploration Expenditures: US$500,000 by the year 2021;
  • Cash: US$240,000 by the year 2020 according to a set payment schedule;
  • Milestone payment: Aurora will be paid US$1 for every gold equivalent ounce included in or added to the Measured, Indicated and Inferred resource categories by the time a Decision to Mine is made;
  • Royalty: 4% Net Smelter Return royalty with the ability to eliminate the royalty by paying US$2.0 million.

3. From Beau and Zeynip Hansen

An option to purchase a 100% interest in the WP Hansen claims covering 259 hectares:

  • Terms identical to the WP Aurora terms.

4. From Corvus Gold Inc.

As announced previously here, a purchase of a 100% interest in the WP Raven claims covering 1,279 hectares for:

  • Cash: US$20,000;
  • Royalty: 3% Net Smelter Returns royalty that may be reduced to 1% by paying US$7.0 million.

In addition to the claims acquired by purchase and option agreements, Millrock has staked approximately 10,278 hectares of contiguous claims. A claim location map can be viewed here.

The Goodpaster Mining District is an area subject to a Collaboration Agreement that Millrock signed with a major mining company (“the Major”) in 2015. Funding for much of the work Millrock has done in the district has come from the Major. Per the terms of the agreement, Millrock will offer the Major the opportunity to assign individual projects to Designated Project status subject to an option agreement with pre-determined business terms.

The various claim blocks that now comprise the West Pogo project (ER, WP Aurora, WP Hansen, WP Raven and claims staked by Millrock) have been the subject of a recent exploration program conducted by Millrock with funding from the Major totaling approximately $US250,000. Work consisted of re-logging and sampling of existing drill core, infill soil sampling and geological mapping. Millrock anticipates reporting on the results of this work in the near future.

The technical information within this document has been 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 primarily comes from 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 and Altius.

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

FOR FURTHER INFORMATION, PLEASE CONTACT
Melanee Henderson, Investor Relations
Phone: (604) 638-3164
Toll Free: (877) 217-8978
mhenderson@millrockresources.com

Millrock Resources Inc.
2300 – 1177 West Hastings St.
Vancouver, BC V6E 2K3
Canada

FORWARD LOOKING STATEMENTS
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.

"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."

Millrock Announces Geophysical Survey at Oweegee Dome Project, Stewart Golden Triangle District, BC

VANCOUVER, BRITISH COLUMBIA, September 26, 2016 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces that a ZTEM airborne geophysical survey is underway at its Oweegee Dome project, located in the Golden Triangle district northeast of the town of Stewart, British Columbia.

Listen: Greg Beischer's insight on the news release.

The ZTEM™ or (Z-Axis Tipper Electromagnetic system) is an innovative airborne electromagnetic system which uses the natural or passive fields of the earth as the source of transmitted energy. The system is capable of deep penetration and identification of conductive zones at depth. Case studies have shown that structural features and pyrite halo mineralization around significant porphyry ore bodies is possible. The geophysical survey system was developed by Geotech Ltd. of Aurora, Ontario. Geotech is conducting the survey with their aircraft and instrumentation, and will be merging these geophysical results with other types of surveys that have previously been conducted on the property by prior operators.

Gregory A. Beischer, Millrock’s President commented: “This survey will complement the existing geophysical information that we acquired along with the property when we purchased it. We now have all project information in a database and will use all data at hand to develop drill targets for testing in 2017.”

The geologic strata underlying the Oweegee Dome property appears to have been the focus of a large, hydrothermal mineralizing system. Several genetically related metallic mineral deposit target types are represented. Gold – copper porphyry, volcanogenic massive sulfide, and stratabound silver – zinc – lead – copper deposit indicators are all observed at various locations on the property. Favourably situated on rocks of the Jurassic-aged Lower Hazelton Group, the Oweegee Dome is an anticlinal structure exhibiting orthogonal structural fabric that seems to be common in proximity to other deposits in the Golden Triangle district. Rocks of the older, Triassic, Stuhini Formation are exposed in the core of the anticline. The Hazelton – Stuhini contact is known to be a very productive stratigraphic level for mineral deposits in the Golden Triangle. The same rocks host Seabridge’s KSM copper-gold porphyry deposit and Pretivm’s Brucejack epithermal gold deposit, which are on an adjacent claim blocks, approximately 25 kilometers to the west. Millrock’s property completely covers a little-explored inlier of the favourable rocks within the Bowser Basin. It is a district-scale land package comprising 312 square kilometers that includes the differentiated Delta Intrusion which is known to contain very anomalous copper and gold values in soil, rock and drill core samples. Millrock is a 100% owner of the mineral rights. The project is located 90 kilometers northeast of the town of Stewart, British Columbia. Highway 37 and the new Northwest Transmission Line pass through the western portion of the property.

The technical information within this document has been 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.

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

FOR FURTHER INFORMATION, PLEASE CONTACT
Melanee Henderson, Investor Relations
Phone: (604) 638-3164
Toll Free: (877) 217-8978
mhenderson@millrockresources.com

Millrock Resources Inc.
2300 – 1177 West Hastings St.
Vancouver, BC V6E 2K3
Canada

FORWARD LOOKING STATEMENTS
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.

"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."

Millrock Announces Progress at Stellar Gold – Copper Project, Alaska

VANCOUVER, BRITISH COLUMBIA, September 22nd, 2016 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces that induced polarization (“IP”) geophysical surveys are presently being conducted on its Stellar gold – copper project located near the Denali Highway in central Alaska. The work is being done by Vista Minerals (Alaska) Inc., a wholly-owned subsidiary of Vista Minerals Pty Ltd, a private Australian company (“Vista”). Vista and Millrock formed an option to joint venture agreement on the project in late 2015, as described in an earlier press release here. Millrock presently owns a 100% interest in the claims, subject to Vista’s right to earn up to an 80% interest by expending US$4 million on exploration and paying US$300,000 to Millrock over a four-year period. A production royalty would be payable to Altius Minerals Corporation. Vista is the exploration operator and reports that it is presently conducting IP surveys at the Jupiter copper occurrence and on the west flank of the high-grade Zackly gold – copper skarn deposit. Earlier this year Vista significantly expanded the original Millrock claim block by staking of claims, all of which are now subject to the option to joint venture agreement. The property now covers an area of 7,187 hectares.

Millrock President & CEO Gregory A. Beischer commented, “We are pleased to see this project advancing. The Zackly gold – copper prospect presents an excellent opportunity for Vista to establish a modern gold resource and expand upon it. The porphyry and intrusion-related gold targets, none of which have ever been drilled, are virgin country, ripe for a new discovery."

A variety of mineralization styles are present on the property. The lands are considered prospective for high-grade gold-copper skarn deposits, porphyry copper-gold deposits, or other types of copper deposits and intrusion-related gold deposits. Previously, through a comprehensive program of soil and rock sampling and airborne magnetic, electromagnetic and radiometric surveys, Millrock identified a number of target areas, each of which is briefly summarized below:

Zackly gold – copper skarn deposit: At Zackly, a historical “reserve” of 185,724 ounces of gold and 61.6 million pounds of copper contained in a deposit of 1,407,000 tons (1,128,500 tonnes) grading 0.132 ounces per ton (6.03 grams per tonne) gold and 2.19% copper has been reported by prior explorers (From Resource Associates of Alaska, 1987, 1987 Final Report: Exploration Results from Zackly Gold-Copper Skarn Prospect Alaska Range, Alaska Volume I, 141 p.).

NOTE: A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and Millrock is not treating this historic estimate as current mineral resources or reserves. The Zackly resource estimate study by Resource Associates of Alaska utilized a modified polygonal method based on data from core drill holes, reverse circulation drill holes and surface trenches. Calculations were determined using a drill hole radius of influence of 200 feet and a 0.05 opt Au cutoff. This historic estimate constitutes the most recent reserve/resource study known to Millrock. The historical resource estimate is for historical purposes only. The historical resource estimates were prepared prior to the implementation of NI 43-101 and use terminology different from and current reporting standards, including the terms “indicated and inferred reserves” which incorrectly implies economic viability. The historical estimate is suspect based on poor recovery of the diamond core drilling and also the rotary drilling between 1981 and 1987 resulting in significant core loss within areas of mineralization, together with selective sampling, wide drill spacing between sections and the lack of a quality assurance / quality control assay protocol (Eden, K. A., 2011, Stellar Property, Valdez Creek Mining District, South-Central Alaska: NI 43-101 Technical Report, January 8, 2013, 113 p.). Dr. Eden, a qualified person as defined in NI 43-101, has done sufficient work to determine that it is not possible to use the historical estimates as current mineral resources or mineral reserves and Millrock is therefore not treating the historical estimates as current mineral resources or mineral reserves. He has determined that it will be necessary to re-drill the holes to upgrade or verify the historical estimate as current mineral resources, as described in Dr. Eden’s technical report which was filed on SEDAR (www. Sedar.com) on January 8, 2013.

Mars prospect: Located approximately 10 kilometers west of Zackly, this prospect consists of altered diorite intruding volcanic rocks with extensive gossan exposures that locally contain copper mineralization. Soil sample lines across altered zones consistently returned anomalous values, including 950 meters, averaging 763 ppm copper, and 1.2 kilometers averaging 462 ppm copper. Rock grab samples of altered bedrock and float were collected previously by Millrock from the prospect. Seven of those samples assayed over 1% copper with values up to 7.4% copper and up to 1.78 ppm gold. Vista indicates it plans to use IP to test for sulfide minerals along a fault structure that appears to extend from Zackly to the Mars prospect.

Jupiter prospect: At this prospect, Millrock previously identified a multi-element geochemical anomaly, which measures 1.7 kilometers by 2.3 kilometers, and is underlain by a corresponding magnetic high. The anomaly consists of 33 soil samples with copper results ranging between 246 ppm to 3850 ppm. They have an average copper value of 832 ppm. Gold values in these soil samples average 92 ppb and range from 5 ppb to 178 ppb. In addition to high copper and gold, the soils contain anomalous silver and cobalt. A grab sample of rock collected by Millrock in an area northwest of the main Jupiter prospect in 2013 returned an exceptionally high value of 23 percent copper, but no follow up work has yet been done. Vista plans to inspect the site of this sample during the current geophysical phase.

Gemini prospect: The Gemini target area is a newly discovered anomaly generated in the recent exploration program. It is a strong copper-in-soil anomaly centered on a chlorite (+skarn +potassic) alteration zone in andesite and basalt. The anomaly is defined by 12 samples over an area measuring 1.8 kilometers by 3.0 kilometers. Copper values range from 356 ppm to 1130 ppm and average 568 ppm copper. The core copper anomaly is accompanied by strongly anomalous lead, gold, and molybdenum, and is surrounded in a zoned halo of zinc, iron and manganese.

Moonwalk prospect: This is an intrusion-related gold prospect located in the north part of the property. The geology, alteration and mineralization is well exposed on the steep north side of a ridge. Moderately dipping sedimentary rocks are intruded by a granodiorite sill. Quartz veins are mapped over a broad zone of east-trending veining which appears to cut both intrusive and sedimentary rock. The vein zone projects over a kilometer in strike at surface. Rock and soil samples from Millrock’s work returned results consistently anomalous in gold, antimony, arsenic, bismuth and zinc. A total of nineteen soil samples, covering an area approximately 500 meters by 700 meters over the altered and veined granodiorite averaged 1.15 grams per tonne gold. Rock samples of mineralized vein material returned assays as high as 30.4 grams per tonne gold.

The technical information within this document has been 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.

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

FOR FURTHER INFORMATION, PLEASE CONTACT
Melanee Henderson, Investor Relations
Phone: (604) 638-3164
Toll Free: (877) 217-8978
mhenderson@millrockresources.com

Millrock Resources Inc.
2300 – 1177 West Hastings St.
Vancouver, BC V6E 2K3
Canada

FORWARD LOOKING STATEMENTS
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.

"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."

Millrock and Centerra Gold Commence Drilling at Los Chinos Gold Project, Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA, September 6, 2016 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces that it has initiated a drilling program at its Los Chinos gold project in Sonora State, Mexico. The project is the subject of a previously-announced option to joint venture agreement with Centerra Gold Inc. (“Centerra”). Under the option agreement, Centerra can earn a 70% interest by funding US$5.0 million in exploration expenditures over a five year period. Millrock manages the exploration work in close consultation with Centerra.

The drilling program is planned to consist of at least ten holes totaling approximately 2,000 meters. The first target to be tested will be the El Camino zone. At this prospect anomalous gold, lead and arsenic are detected over an area measuring 700 meters long and up to 500 meters wide. Other pathfinder elements present within the anomaly include zinc and silver. From a recently-completed induced polarization survey, resistivity lows bounding resistive blocks seem to correlate with anomalous soil results. Mineralized quartz veins exposed at surface appear to have formed along shear zones developed along syn-metamorphic, low-angle reverse faults. Specular hematite is commonly present near veins and pale green sericite-chlorite characterizes the altered wall rocks of the shear zones. Extensional structural conditions are indicated. Mapping has demonstrated that the typical characteristics of orogenic-type gold deposits area present on the Los Chinos project.

Located just 100 kilometers north of Millrock’s office in the city of Hermosillo, Mexico, the Los Chinos property is immediately adjacent to Highway 15. The Los Chinos property is located approximately 50 kilometers south of the San Francisco gold mine, which is operated by Timmins Gold Corp. The Los Chinos property is in a very similar geological setting as the San Francisco mine and is prospective for mesothermal, orogenic gold deposits. Three zones of mineralization have so far been delineated by Millrock; El Camino, La Tinaja and Albercas. This link leads to a description of the project with maps.

The technical information within this document has been 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.

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

FOR FURTHER INFORMATION, PLEASE CONTACT
Melanee Henderson, Investor Relations
Phone: (604) 638-3164
Toll Free: (877) 217-8978
mhenderson@millrockresources.com

Millrock Resources Inc.
800 – 789 West Pender Street
Vancouver, BC V6C 1H2
Canada

FORWARD LOOKING STATEMENTS
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.

"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."

Millrock Purchases Exploration Operations Facility, Stewart Golden Triangle District, BC, Canada

VANCOUVER, BRITISH COLUMBIA, August 30, 2016 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces it has purchased a 100% interest in an exploration operations facility in the town of Stewart, British Columbia from J. Calder Resources Inc. and Geofine Exploration Consultants. The facility, which consists of a house / office, a large storage garage, and core cutting facility, is situated on eight real estate lots. The facility sits on a large gravel pad and the lot is securely fenced for safe storage of drill core and equipment. An array of exploration equipment was also included in the purchase.

Millrock President & CEO, Gregory A. Beischer, stated: “This facility will make an excellent base of operations for continued exploration of Millrock’s existing projects in the Golden Triangle, and for those we generate in the future”.

Under the terms of the agreement of purchase and sale, Millrock will pay a total of CAD$300,000 over two years and issue 50,000 Millrock shares. The payment shares will be subject to a hold period of four months from the date of issuance.

The purchase and sale agreement is subject to approval by the TSX Venture Exchange.

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

FOR FURTHER INFORMATION, PLEASE CONTACT
Melanee Henderson, Investor Relations
Phone: (604) 638-3164
Toll Free: (877) 217-8978
mhenderson@millrockresources.com

Millrock Resources Inc.
800 – 789 West Pender Street
Vancouver, BC V6C 1H2
Canada

FORWARD LOOKING STATEMENTS
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.

"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."

Millrock Purchases Willoughby Gold Prospect, Stewart Golden Triangle District, British Columbia, Canada

VANCOUVER, BRITISH COLUMBIA, June 10, 2016 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces it has purchased the Willoughby high-grade gold prospect from John Bernard Kreft of Whitehorse, Yukon, Canada. The 995 hectare claim block is located three kilometers east of the Red Mountain development project operated by IDM Mining Ltd. (TSX-V: IDM) and eight kilometers south of Millrock’s Poly property and the LNT property, which Millrock has an option to purchase from Teuton Resources Corp. (TSX-V: TUO) along the Del Norte trend. Highway 37A lies fourteen kilometers to the north. The town of Stewart, British Columbia lies 27 kilometers to the west.

Map of The Golden Triangle, with acquired Willoughby Prospect in purple.

Map of The Golden Triangle, with acquired Willoughby Prospect in purple.

High grade gold-silver drill intercepts have been reported by prior explorers. Historical intersections that have been reported include:

Hole #
From (m)
To (m)
Core Length (m)
Gold (g/t)
Silver (g/t)
NZ89-061
22.0
42.5
20.5
25.0
184.2
95-532
64.5
77.5
13.0
13.3
59.2
95-532 including
72.5
75.5
3.0
31.1
124.5
95-362
88.4
91.3
2.9
398.0
199.4
95-512
47.8
53.7
5.9
16.2
50.2
94-263
75.6
81.6
6.0
17.1
664.3
94-153
66.0
77.7
11.7
39.8
102.4

 

Note: The Qualified Person (“QP”) has not inspected the drill cores. No check assays have been performed.The QP does not have inadequate information to determine whether the reported intersections represent true widths. The results presented are historical in nature and cannot necessarily be relied upon as accurate. The drill hole information was sourced from the following assessment reports, which are in the public domain.

1 Assessment Report #19,474, 1989 Drill Report, Andreas H. Vogt, Bond Gold Canada Inc.
2 Assessment Report # 23,674, 1995 Drill Report, David A Visagie, P.Geo., Camnor Resources Ltd.
3  Assessment Report # 24,169, 1994 Drill Report, David A Visagie, P.Geo., Camnor Resources Ltd.

Millrock has purchased a 100% interest in the project for the sum of $40,000 and 300,000 Millrock shares. All currency referenced herein are Canadian dollars. Millrock will also make other payments in the event the following milestones are met:

  • In the event that 2,500 meters of drilling is completed, $40,000 or 200,000 Millrock shares at the option of the vendor; and
  • If a Preliminary Economic Assessment (“PEA”) is completed, Millrock will pay 50 cents per ounce of gold contained on the property in an Inferred Resource (Canadian Institute of Mining definition) to a maximum of $2 million; and
  • If a Decision to Mine is made, Millrock will pay $1.00 per ounce of gold contained on Reserves and Resources in all categories delineated at the time, less any amount paid at the time of the PEA, to a maximum of $5 million.

Mine production, if it occurs, will be subject to a 3% Net Smelter Returns royalty. The royalty may be purchased in its entirety for the sum of $3 million at any time prior to the commencement of commercial production.

The purchase and sale agreement is subject to approval by the TSX Venture Exchange.

Gregory A. Beischer, Millrock President stated: “The prospect is in steep mountainous terrain on the eastern edge of the Cambria Icefield. The terrain will present challenges, but also opportunities. Glaciers have been rapidly receding over the years since the last exploration drilling work was done in 1995. Much more may now be visible and accessible. The gold grades intersected by previous explorers are quite high. We look forward to following up on the discoveries made previously.”

Eleven different zones of mineralization have been identified on the property. The host rocks are Jurassic in age and are geologically assigned to the lower portions of the Hazelton Group. The high grade gold zones are associated with vein structures and sulfide minerals.

For an overview of all of Millrock’s Golden Triangle projects, click here.

The technical information within this document has been 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 primarily comes from 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 and Altius.

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

FOR FURTHER INFORMATION, PLEASE CONTACT
Melanee Henderson, Investor Relations
Phone: (604) 638-3164
Toll Free: (877) 217-8978
mhenderson@millrockresources.com

Millrock Resources Inc.
800 – 789 West Pender Street
Vancouver, BC V6C 1H2
Canada

FORWARD LOOKING STATEMENTS
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.

"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."

Millrock and Centerra Gold Commence Exploration at Los Chinos and Los Cuarentas Gold Projects, Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA, June 1, 2016 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces that surface exploration is underway at the Los Chinos and Los Cuarentas gold projects in Sonora State, Mexico. The projects are the subject of a previously-announced option to joint venture agreement with Centerra Gold Inc. (“Centerra”). Under the option agreement, Centerra can earn a 70% interest by completing US$5.0 million in exploration expenditures over a five-year period at Los Chinos, and US$2.0 million at Los Cuarentas.

Los Chinos: At Los Chinos, a comprehensive program of geological mapping, soil sampling and rock sampling with concurrent magnetic and gradient induced polarization (“IP”) geophysical surveys is being conducted. Early soil sample results show that the El Camino zone is of greater extent than initially indicated by prior work. Anomalous gold, lead and arsenic are detected over an area measuring 700 meters long and up to 500 meters wide. From the IP survey, resistivity highs seem to correlate with anomalous soil results. Mineralized quartz veins exposed at surface appear to have formed along shear zones developed along syn-metamorphic reverse faults. Specular hematite is commonly present near veins and pale green sericite-chlorite characterizes the altered wall rocks of the shear zones. Extensional structural conditions are indicated. Mapping has demonstrated that the typical characteristics of orogenic-type gold deposits area present on the Los Chinos project. Excavation of a number of trenches at El Camino is planned. Applications for permits to carry out trenching and drilling have been submitted and approvals are expected imminently. 

Located just 100 kilometers north of Millrock’s office in the city of Hermosillo, Mexico, the Los Chinos property is immediately adjacent to Highway 15. The Los Chinos property is located approximately 50 kilometers south of the San Francisco gold mine which is operated by Timmins Gold Corp. The Los Chinos property is in a very similar geological setting as the San Francisco mine and is prospective for mesothermal, orogenic gold deposits. Three zones of mineralization have so far been delineated by Millrock; El Camino, La Tinaja and Albercas. This link leads to a description of the project with maps.

Los Cuarentas: Millrock’s Los Cuarentas property lies 160 kilometers northeast of Hermosillo and is accessed by a series of gravel roads leading from Highway 89. The Mercedes Mine, a gold mine owned and operated by Yamana Gold Inc., is situated on claims immediately adjacent to the southwest. A stream sediment sampling program has been initiated. The main focus of current exploration will be at an area showing alteration typical of the upper levels of an epithermal mineralizing system. This link leads to a description of the project with maps.

The technical information within this document has been 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 primarily comes from 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 and Altius.

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

FOR FURTHER INFORMATION, PLEASE CONTACT
Melanee Henderson, Investor Relations
Phone: (604) 638-3164
Toll Free: (877) 217-8978
mhenderson@millrockresources.com

Millrock Resources Inc.
800 – 789 West Pender Street
Vancouver, BC V6C 1H2
Canada

FORWARD LOOKING STATEMENTS
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.

"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."