2019

Millrock Closes Tranche 1 of Private Placement

VANCOUVER, BRITISH COLUMBIA, July 29, 2019 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or “the Company") reports a portion of the non-brokered private placement announced on July 10, 2019 has closed.  A total of 13,357,331 units at a price of $0.075 per unit have been issued in Tranche 1 for gross proceeds of $1,001,799.83.  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 as follows:

  • Until December 14, 2019, the Unit Warrants will be exercisable at $0.14 per share;

  • Thereafter, until December 14, 2020, the Unit Warrants will be exercisable at $0.17 per share; and

  • Thereafter, until December 14, 2021, the Unit Warrants will be exercisable at $0.20 per share.

Millrock President & CEO Gregory Beischer commented: “We were pleased that multiple existing Millrock shareholders in Canada were able to take advantage of the Existing Shareholder Exemption. This exemption allows smaller, existing shareholders to take advantage of the potential earnings benefits that private placements can provide. Often participation in private placements is limited to institutional or wealthy investors. We intend to use a portion of the proceeds to advance exploration at our West Pogo gold project in Alaska. A specialized geophysical survey called CSAMT will be part of the work. The method has reportedly worked very well at discovering gold ore bodies on the adjacent Pogo Gold Mine property that is operated by Northern Star Resources Ltd. Additionally, Millrock intends to generate more high-quality gold projects in Alaska. We feel now is the time to act on the various targets that we’ve been waiting to acquire.”

Finder’s fees have been paid as follows in connection with this portion of the financing:  $24,675 and 329,000 Finder’s Warrants to Redplug Inc.; $3,150 and 42,000 Finder’s Warrants to Haywood Securities Inc.; $682.50 and 9,100 Finder’s Warrants to Sightline Wealth Management LP; $1,575 and 21,000 Finder’s Warrants to Mackie Research Capital Corporation; $525 and 7,000 Finder’s Warrants to Sprott Capital Partners LP.

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 November 30, 2019.

The net proceeds from the Offering will be used to advance exploration and secure drilling permits at the West Pogo project (as to 30% of the net proceeds raised), for generation of new projects and funding partners (as to 40% of the net proceeds raised) and for general corporate purposes (as to 30% of the net proceeds raised).. 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 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, EMX Royalty, Altius, and Riverside. Millrock is a major shareholder of junior explorer ArcWest Exploration, and holds a portfolio of exploration-stage project royalties in Mexico, British Columbia and Alaska.

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 acceptance and completion of the Offering.

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES OF THE COMPANY IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH ANY SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. THE SECURITIES TO BE OFFERED UNDER THE OFFERING HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE 1933 ACT OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS (AS THAT TERM IS DEFINED IN REGULATION S UNDER THE 1933 ACT) EXCEPT IN TRANSACTIONS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND APPLICABLE STATE SECURITIES LAWS.

Millrock Announces Private Placement Financing And Strategic Advisor

VANCOUVER, BRITISH COLUMBIA, July 10, 2019 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or the “Company") announces that it plans to raise gross proceeds of between $1,000,000 and $1,500,000 through a non-brokered private placement (the "Offering") of between 13,333,333 units (the “Units”) and 20,000,000 Units at a price of $0.075 per Unit. 

It is the intention of the Company to provide an opportunity to existing, eligible Millrock shareholders to participate in the Offering. Non-accredited investors will be welcome to participate in the Offering through use of the existing shareholder exemption provided in BC Instrument 45-534 and similar exemptions in other jurisdictions of Canada.  

Each Unit will consist of one common share of the Company and one share purchase warrant (the “Unit Warrants”). Each Unit Warrant will entitle the holder to purchase one additional common share of the Company at an escalating exercise price as follows:

  • Until December 14, 2019, the Unit Warrants will be exercisable at $0.14 per share;

  • Thereafter, until December 14, 2020, the Unit Warrants will be exercisable at $0.17 per share; and

  • Thereafter, until December 14, 2021, the Unit Warrants will be exercisable at $0.20 per share.

 The minimum investment is $5,000. The net proceeds from the Offering will be used to advance exploration and secure drilling permits at the West Pogo project (as to 30% of the net proceeds raised), for generation of new projects and funding partners (as to 40% of the net proceeds raised) and for general corporate purposes (as to 30% of the net proceeds raised).

Existing Shareholder Exemption
In addition to any other exemptions available, participation in the Offering is also open to existing shareholders of Millrock who, as of the close of business on July 9, 2019 ("Record Date"), hold common shares of Millrock (and who continue to hold common shares of Millrock at the time of closing), pursuant to the prospectus exemption set out in B.C. Instrument 45-534 and in similar instruments in other jurisdictions of Canada. This exemption is not available to a shareholder who is a U.S. Person (as defined in Regulation S promulgated under the United States Securities Act of 1933, as amended).

Pursuant to a strategic investment agreement previously announced with EMX Royalty Corp., (“EMX”) EMX has the right to participate in the Offering to maintain their current ownership percentage of Millrock shares. 

Any existing shareholder or other interested investor who wishes to participate in the Offering is asked to please contact Janice Davies, Corporate Secretary of the Company by email at: janice@jdconsulting.ca  to receive subscription documentation and instructions. The Offering will remain open to existing shareholders until July 16, 2019.

Finder’s fees of 7% cash and 7% finder’s warrants (“Finder’s Warrants”) may be paid in connection with the Offering. The Finder’s Warrants have the same terms as the Unit Warrants except that they will be non-transferable.

The Offering is subject to receipt of TSX Venture Exchange acceptance.

Millrock also reports that it has engaged Mr. Doug Flegg of Cairn Merchant Partners of Toronto, Canada as a Strategic Advisor to assist Millrock in finding partners for its Alaska projects. Prior to joining Cairn Merchant Partners, Doug was Managing Director of Global Mining Sales for BMO Capital Markets. Doug also worked as a Portfolio Manager and Co-head of Canadian Equities at UBS Global Asset Management where he was responsible for their mining investments. Doug started his career as an Exploration Geologist in Northern Ontario and Newfoundland. He graduated from the Queen's School of Business with an MBA, he has a BSc. (Honours Geology) degree from Queen's University. See also: (http://cairnmp.com/doug-flegg).

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 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, EMX Royalty Altius, and Riverside. Millrock is a major shareholder of junior explorer ArcWest Exploration, and holds a portfolio of exploration-stage project royalties in Mexico, British Columbia and Alaska. 

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 acceptance and completion of the Offering.

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES OF THE COMPANY IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH ANY SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. THE SECURITIES TO BE OFFERED UNDER THE OFFERING HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE 1933 ACT OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS (AS THAT TERM IS DEFINED IN REGULATION S UNDER THE 1933 ACT) EXCEPT IN TRANSACTIONS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND APPLICABLE STATE SECURITIES LAWS.

Millrock To Sell Mexico Assets

Key Highlights:

  • Millrock has agreed to sell five projects, a geological database, and exploration equipment to Riverside Resources Inc.

  • Consideration paid consists of cash, Riverside shares, and grant of royalties.


VANCOUVER, BRITISH COLUMBIA, June 26, 2019
- Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock" or the “Company”) reports that it has entered into an agreement to sell the La Union, Los Cuarentas, El Pima, El Valle, and Llano del Nogal claim blocks to Riverside Resources Inc. (“Riverside”). Millrock will also transfer the option it holds on the Santa Rosalia concession which forms part of the Los Cuarentas project. Millrock has also agreed to sell a copy of its exploration database, and various exploration equipment and vehicles to Riverside.

Consideration payable to Millrock is $35,000 cash and 150,000 Riverside common shares. Additionally, Riverside will grant a 0.5% net smelter returns (“NSR”) royalty on the  El Pima and El Valle claims, and in the event that Riverside exercises the option on Santa Rosalia, it will grant a 0.5% NSR royalty on that claim.

Millrock and Riverside anticipate completing transfer of the properties and completing the agreement by August 31, 2019. The agreement is subject to approval by the TSX Venture Exchange. The Riverside shares issued to Millrock will have a four-month hold period commencing from the date of their issuance.

Millrock President & CEO Gregory Beischer commented: “We are pleased to have sold these projects to Riverside. We are bringing greater focus back to Alaska, and Riverside should be able to make good use of the database we have transferred to them. Ultimately we feel confident that Riverside will be able to find funding partners for the projects. If exploration on those projects is successful, Millrock shareholders will benefit from the portfolio of retained royalty interests.”  

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 recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada and Sonora State, Mexico and is a significant shareholder of junior explorer ArcWest Exploration Inc. 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: EMX Royalty, 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 (within the meaning of Canadian securities legislation) including, without limitation, management’s expectation of completing the sale of certain assets in Mexico to Riverside and future exploration of the claims sold. 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 customary risks of the resource industry.

Millrock Stakes Additional Claims In The Goodpaster Gold District, Alaska

Key Highlights:

  • Millrock stakes an additional 143 claims covering 9,235 hectares in the Goodpaster Mining District within the Tintina Gold Province in Alaska; the Goodpaster Project now encompasses 1,176 claims covering 66,050 hectares (66 square kilometers).

  • North Pogo claims cover favourable structures and stratigraphy on the north side of the Goodpaster Batholith, similar to those at the Pogo Gold Mine, on the south side of the batholith.

  • Divide claim block covers gold occurrences and geochemically anomalous zones along the Black Mountain structural corridor.

  • Funding for staking provided by EMX Royalty Corporation; Millrock to grant royalties to EMX.

Figure 1: Soil & Stream Sediments in the Goodpaster District

Figure 1: Soil & Stream Sediments in the Goodpaster District

VANCOUVER, BRITISH COLUMBIA, May 22, 2019 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock" or the “Company”) reports that it has staked two more blocks of claims in the Goodpaster Mining District in Alaska. These claims are in addition to a very large block of claims staked by the company, as announced here on April 24, 2019. Millrock’s claim holdings in the Goodpaster Mining District, home of the Pogo Gold Mine operated by Northern Star Resources (“Northern Star” ASX:NST), now includes 1,176 claims covering 66,050 hectares in three discrete tracts. The new blocks are named North Pogo and Divide.

Christopher Van Treeck, Millrock’s Senior Project Geologist commented, “It is surprising that there has been so little exploration conducted over what we now call the North Pogo project. If Goodpaster Batholith related plutons can produce the gold deposit currently being mined at Pogo on the batholith’s south side, there is equal potential to form gold deposits on the north side. We see great structural preparation of the rocks at North Pogo. The Alaska Division of Geological and Geophysical Surveys has mapped low-angle faults within the Millrock claim block and the Pogo Gold Mine is hosted in a similar, regional, low-angle structure.”

At the Divide block, 67 claims were staked to cover gold occurrences and pathfinder element soil and stream sediment anomalies. This data was obtained by Millrock when it purchased claims and information from Corvus Gold in 2015, as announced here. The Divide claim block is adjacent to the Tibbs property being explored by Tectonic Metals, a private Vancouver-based junior company. The team at Tectonic Metals have had success at the Coffee Project in a similar belt of rocks in nearby Yukon. The claims are also close to Newmont’s Healy claim block, which is currently under option to, and being explored by, Kenorland Minerals, a private Vancouver-based junior company that has Yukon ties.

Millrock President & CEO Gregory Beischer commented: “It is good to see that the successful Yukon explorers are now recognizing there is great potential on the Alaska side of the Tintina Gold Province, and the Goodpaster Mining District in particular. We welcome the competition. With increased exploration activity gold deposit discoveries are more likely, and this will benefit all of Alaska, as well as Millrock shareholders.  

The claims were staked with funding provided to Millrock from EMX Royalty Corporation (TSX-V: EMX, NYSE – American: EMX) (“EMX”) pursuant to a strategic investment. Millrock will grant certain royalty rights to EMX on the recently staked claims which are in addition to the royalties being granted to EMX on other recently staked claims and some of the pre-existing Millrock claims as described in Millrock’s press release dated April 24, 2019.

Cautionary Statement
The Company cautions that the mineralization at the Pogo mine is not necessarily indicative of the mineralization that may be identified on the property, and there is no certainty that significant mineralization similar to that found at the Pogo mine will be identified on the property. 

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: EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorer ArcWest Exploration Inc. and holds a portfolio of exploration project royalty interests.

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 (within the meaning of Canadian securities legislation) including, without limitation, management’s expectation of exploring on the claims staked in the Goodpaster Mining District and that other valuable, high-grade gold discoveries like the Pogo Gold Mine should be present.  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, Millrock’s ability to raise funds needed to perform additional exploration on the claims staked and customary risks of the resource industry.

Millrock Announces Private Placement Closed

VANCOUVER, BRITISH COLUMBIA, April 25, 2019 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock" or the “Company”) reports it has closed the private placement with EMX Royalty Corporation announced on April 24, 2019.  A total of 7,142,857 units at a price of $0.14 per unit have been issued for gross proceeds of $1,000,000.  Each unit consisted of one common share of Millrock (a “Unit Share”) and one share purchase warrant (a “Warrant”). 

Each Warrant entitles the holder to purchase one additional common share of Millrock until December 14, 2021 at an escalating exercise price ($0.14 until December 14, 2019; $0.17 from December 15, 2019 until December 14, 2020; and $0.20 from December 15, 2020 until December 14, 2021). The Warrants also contain an accelerated exercise provision. If Millrock’s shares have traded at or above $0.20 per share for 20 consecutive trading days, Millrock may give notice that the Warrants will expire if not exercised within 30 days of receipt of such notice by EMX.

The common shares issued under the Private Placement and any common shares issued pursuant to exercise of Warrants are subject to a hold period and may not be traded until August 26, 2019. The Private Placement includes a further restriction on resale on half of the Unit Shares until the first anniversary of the investment, and an anti-dilution clause entitling EMX to subscribe for additional shares in any future financings to maintain its existing percentage ownership of Millrock. 

A portion of the proceeds from the Private Placement will be used for land acquisition and exploration in the Goodpaster Mining District, Alaska, and another portion will be used for general corporate purposes.

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: EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorer ArcWest Exploration Inc. and holds a portfolio of exploration project royalty interests.

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 (within the meaning of Canadian securities legislation) including, without limitation, management’s expectation that it will acquire further mineral rights and advance exploration in the Goodpaster Mining District and that it is expected that further gold deposits will be discovered in the Goodpaster Mining District. 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, Millrock’s ability to raise funds needed to perform additional exploration, the results of further exploration and development of the Goodpaster Mining District projects and customary risks of the resource industry.

Millrock Announces Strategic Investment By EMX Royalty Corporation – Goodpaster Gold District, Alaska

Millrock Resources Inc. reports that EMX Royalty Corporation has agreed to make a $1,000,000 equity investment in Millrock through a private placement financing. The subscription price represents a significant premium to Millrock’s current market price. In return for the premium financing, Millrock has agreed to grant certain royalty interests to EMX.

Millrock Announces Drilling Results From La Navidad Gold Project, Sonora State, Mexico And Corporate Developments

VANCOUVER, BRITISH COLUMBIA, January 29, 2019 - Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) ("Millrock" or the “Company”) reports that results from a drilling program completed at the La Navidad gold project in Sonora State, Mexico have been received. The program focused on the northwestern portion of the project. Four holes were drilled at El Tigre prospect, where gold had been detected by soil sampling in the vicinity of historic mine workings. The drill holes tested induced polarization geophysical anomalies and northwest-trending high-angle structures that appear to control mineralization observed at surface. Four further holes tested El Chupadero prospect where alteration (decalcification and jasperoid replacement of limestone) pointed to the possibility of an intrusion-related gold deposit. In total, eight holes totaling 1,844 meters were drilled in the program. The exploration work was funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”).

The drilling results were generally disappointing. Only a few weakly anomalous gold values were returned. The alteration and mineralization observed at surface appear to weaken in the subsurface. It does not appear that further exploration work on these prospects is warranted.

Millrock has received notification from Centerra that it is terminating the option to joint venture agreements on both La Navidad and El Picacho gold projects.

Millrock President & CEO Gregory Beischer stated “Millrock thanks Centerra for the investment they made in advancing these projects. While Centerra has elected to leave, we strongly believe the projects have excellent technical merit. We think they will be attractive to mid-tier or smaller mining companies. Our intention is to seek out new funding partners, but at the same time we will have to balance the cost to hold to La Navidad and El Picacho concessions in the face of Millrock’s currently limited cash position.” 

Corporate Developments: PolarX Shares and Cash Position
Millrock recently sold 10 million PolarX shares for A$475,000. While Millrock continues to be a strong believer in the Alaska Range Project, given Millrock’s relatively weak cash position it made sense to sell the shares. Millrock continues to be entitled to a production royalty, an advanced minimum royalty, and certain milestone payments.

Gregory Beischer, Millrock President and CEO stated, “Equity markets continue to be very tight. Millrock has to be extremely careful with its remaining funds. Management is cutting costs in all ways possible while the technical team works diligently to secure new funding partners. It is management’s view that securing new partnerships will be the best way for the Company to reduce overhead costs. The Company has an excellent portfolio of gold and copper projects but there is a cost to hold un-partnered projects until new partners are secured. Given the continued weakness of Millrock’s cash position (approximately C$790,000, as of today’s date, net of near-term accounts receivable and payable), the Company is considering all possible alternatives to move forward, including divestiture of Mexico projects and other assets.”

Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. For the La Navidad drill program drill core samples were kept in a secure location at all times. Rock samples were 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 received from the laboratory for the samples in collected in this drill program 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, 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 explorer 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 (within the meaning of Canadian securities legislation) including, without limitation, the statement that is management’s view that securing new partnerships will be the best way for the Company to reduce overhead costs. 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 ability of Millrock to negotiate agreements with third parties to fund exploration programs on terms beneficial to the Company.