rio-sonora

Millrock Provides Update on Los Chinos Gold Project and Rio Sonora Copper Project in Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA, March 31, 2015 - Millrock Resources Inc. (MRO - TSX-V) (“Millrock” or “the Company”) is pleased to provide an update on exploration activities at its Los Chinos gold project in Sonora, Mexico. Recent work has provided indications of a large gold-mineralized system. This new exploration discovery was made during regional reconnaissance for Herradura-type orogenic gold deposits.

The project site was initially targeted due to perceived geological similarities with the San Francisco gold mine located 35 km to the north of Los Chinos. Host rocks, structural setting, character of mineralization, and geochemical indicators at Los Chinos bear a strong resemblance to those at San Francisco.

Limited geologic mapping, rock and soil sampling have been completed by Millrock in the northern portion of the claim block, with encouraging results. In total, 199 rock samples and 158 soil samples have been collected and analyzed. Values in rock range from <detection limit to 8.6 gpt. Soil results ranged from less than detection to 249 ppb gold. Rock and soil sampling results along with mapping and prospecting have defined three mineralized areas with grade controlled by quartz veins and fault breccia zones; the Camino Zone, La Tinaja, and Albercas.

The Camino Zone contains numerous samples grading up to 8.6 gpt gold in quartz veins, stockwork and breccia zones. The sample grading 8.6 gpt is a grab sample composed of rock chips collected across a one meter interval. Mineralization at Camino has been traced for over 1,300 m on surface with gold values in a corridor up to 150 m wide. The Camino veins have a gold – tellurium – lead – bismuth signature. The mineralization at Camino occurs in an area of low topographic relief and consists largely of subcrop exposures, which are open under thin cover to the north and northeast. Preliminary prospecting to the south has indicated another 600 m of altered Proterozoic granite, with quartz vein samples assaying up to 0.17 gpt gold.

The historic La Tinaja workings were developed on quartz veins which assay 5.0 gpt gold over 1.0 m. Two select samples of iron oxide-bearing breccia within 400 m of this showing assayed 0.4 and 2.0 gpt gold. The La Tinaja veins are anomalous in gold – silver – lead – zinc and arsenic.

In the north-central portion of the claim block (Albercas Zone), red matrix breccias developed on the upper contact of Proterozoic basement rocks contain anomalous copper and gold mineralization. Rock sample values include a sample assaying 2.07 gpt gold.

The Los Chinos claims are located 104 km north of Hermosillo, Sonora, adjacent to Hwy 15, which connects the capital with Nogales and the US border. A network of ranch roads provide excellent access for exploration work.

Millrock plans to advance the project through additional prospecting, mapping, soil and rock sampling. Trenching may be done to expose mineralized bedrock under shallow cover. However, in keeping with its Project Generator business model, Millrock is seeking earn-in partners to share the risk of advancing this early-stage gold exploration project.

Millrock is also pleased to report completion of surveys at the Rio Sonora project and favourable results from the same. A program of surface soil and rock sampling was carried out in fall of 2014. Geological mapping was carried out and reprocessing and analysis of existing airborne ZTEM and magnetic surveys was done. It was found that almost the entire property is covered with Tertiary rock that does not contain porphyry mineralization. However, the Tertiary cover appears to be quite thin in the east. The soil geochemical surveys outlined four distinctly anomalous areas which coincided well with geophysical signatures indicative of porphyry deposits. The company that funded the work (see Millrock press release dated October 20, 2014) has elected not to exercise their exclusive right to enter an option to joint venture the project. Millrock is seeking new partners for the project.

Quality Assurance / Quality Control: All samples collected for the Los Chinos program were analyzed at A.L.S. Chemex de México, Bolevar Prof. Ignacio Salazar 688, 83127 Hermosillo, Sonora, Mexico. Millrock has relied upon the internal quality control and quality assurance protocols and procedures in place at this reputable laboratory. The controls included insertion of blanks and standard samples. Additionally, for this program, six select sample pulps were reanalyzed as a check on results.

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

ABOUT MILLROCK RESOURCES
Millrock Resources Inc. is a premier prospect generator to the mining industry. In the search for world-class metallic mineral deposits in mineral-rich Alaska, southwest USA, and Mexico, 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. Millrock currently has twenty active exploration projects, eight gold-copper and zinc properties in Alaska, a uranium project in New Mexico, and eleven gold, silver and copper projects in 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: First Quantum, Teck, Kinross, Vale, Inmet and Altius.

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

FOR FURTHER INFORMATION, PLEASE CONTACT
Gregory A. Beischer, President & CEO
Phone: (604) 638-3164
Toll Free: (877) 217-8978

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

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain of the information presented in this News Release may constitute "forward-looking statements" or "forward-looking information" within the meaning of Canadian securities legislation (together referred to as "forward-looking statements"). Specifically the Company mentions advancing exploration on Los Chinos and securing business partners for the Los Chinos and Rio Sonora projects. The forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including any delays in the receipt of consents or approvals. Although Millrock Resources has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this News Release and in any document referred to in this News Release. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and Millrock Resources undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

"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 Enters Letter of Intent on the Rio Sonora Project, Mexico

VANCOUVER, BRITISH COLUMBIA, October 20, 2014 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock") announces that it has entered into a letter of intent with a third party in respect of the Rio Sonora project in northern Sonora, Mexico, pursuant to which the third party will fund a $250,000 initial exploration program and may subsequently earn into a joint venture on the project. The program, which is already underway, will consist of regional geochemical sampling, geological mapping, prospecting, modelling of existing airborne magnetic and ZTEM surveys, and a report documenting activities, results and drill target recommendations. Gregory Beischer, President & CEO of Millrock, stated “We are pleased to be able to advance this project with a new partnership, our first since purchasing Pembrook Mexico Holdings Corp. - now known as Millrock Mexico Holdings Corp. - in June of this year”.

The target sought at the Rio Sonora project is a large-scale porphyry copper/molybdenum deposit.  The project is located near the town of Arizpe in northern Sonora State, Mexico mid-way between the long-producing Cananea and La Caridad copper mines.  Porphyry copper/molybdenum deposits in this area occur along a discrete linear trend that extends from Sacaton in Arizona through Silver Bell and the Pima district to Cananea and La Caridad in Mexico. Deposit clusters along this trend show a remarkably even spacing of 65 to 70 km, except between Cananea and La Caridad which are located approximately 120 km apart. Exploration at Rio Sonora is partially based on the concept that there may be a third buried copper/molybdenum porphyry deposit located halfway between Cananea and La Caridad.  Airborne magnetic and ZTEM anomalies indicate the possibility of a mineralized copper-bearing porphyry buried beneath cover on the property.  The initial exploration program will help discriminate these anomalies and develop targets for drill testing.

The technical information within this document has been reviewed and approved by Gregory A. Beischer, President & CEO of Millrock.  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.  In the search for world-class metallic mineral deposits in mineral-rich Alaska, southwest USA, and Mexico, 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.  Millrock currently has twenty-two active exploration projects, eight gold-copper and zinc properties in Alaska, a porphyry copper prospect in Arizona, a uranium project in New Mexico, and twelve gold, silver and copper projects in 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: First Quantum, Teck, Kinross, Vale, Inmet and Altius.

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

FOR FURTHER INFORMATION, PLEASE CONTACT
Gregory A. Beischer, President & CEO
Phone: (604) 638-3164
Toll Free: (877) 217-8978

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 Completes Purchase of Mexican Exploration Company

VANCOUVER, BRITISH COLUMBIA, June 9, 2014 - Millrock Resources Inc. (“Millrock”) announces today that it has closed the purchase of Pembrook Mexico Holdings Corp. (“PMXH”), first announced on May 23, 2014. The assets of PMXH include the shares of a wholly-owned Mexican subsidiary and its nine 100%-owned mineral properties, two mineral properties under option, an extensive geological database and various exploration equipment. The projects, primarily located in the State of Sonora, Mexico, have potential for gold, silver, copper, zinc and lead deposits. The technical information within this news release has been reviewed and approved by Gregory A. Beischer, President & CEO of Millrock. 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. In the search for world- class metallic mineral deposits, 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. Funding for 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: Teck, First Quantum, Kinross, Vale, Inmet and Altius.

FOR FURTHER INFORMATION, PLEASE CONTACT
Gregory A. Beischer, President & CEO
Phone: (604) 638-3164
Toll Free: (877) 217-8978

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 Enters Into An Agreement To Acquire A Mexican Exploration Company

VANCOUVER, BRITISH COLUMBIA, MAY 23, 2014 - Millrock Resources Inc. (“Millrock” or “the Company”) announced today that it has entered a binding letter agreement to purchase Pembrook Mexico Holdings Corp. (“PMXH”) and all of its assets, which include the shares of a wholly-owned Mexican subsidiary and its nine 100%-owned mineral properties, two mineral properties under option, an extensive geological database and various exploration equipment.  The projects, primarily located in the State of Sonora, Mexico, have potential for large-scale copper-gold porphyry deposits, high-sulphidation epithermal gold deposits, high-grade vein gold deposits, and skarn and replacement-style silver-zinc-lead deposits. Gregory A. Beischer, Millrock President & CEO stated: “We are very pleased to be making this purchase and thereby acquiring eleven high-potential projects at low cost.  Several of the projects should be of immediate interest to funding partners.  Most importantly, the geological database and technical team associated with the acquired company gives Millrock the knowledge and operational ability to effectively compete in this jurisdiction.  We will be well-positioned to take advantage of many new project generation opportunities that are being created by Mexico’s mining law reform.  We plan to move aggressively to acquire more projects in Mexico but will still remain highly active in Alaska and the southwest US.  This has been a great opportunity to increase the scope and breadth of Millrock in a mining-friendly jurisdiction.”

Philip St. George, Millrock’s Chief Exploration Officer stated: “The Rio Sonora and Las Cuarentas Oeste projects have some great indications of buried porphyries.  There could be another deposit similar in scope to the long-producing Cananea copper mine on our new claims.  The potential for high-grade gold deposits at the Los Chinos and Ramard projects is also excellent.”

PMXH is a British Columbia incorporated holding company that was owned by Pembrook Mining Corp. (“Pembrook”).  The mineral properties are held in a Mexico-registered subsidiary that is beneficially wholly-owned by PMXH.  Millrock and Pembrook will work diligently to complete a definitive agreement by the Closing Date, which will be no later than June 10, 2014.  The transaction is subject to approval by the TSX Venture Exchange (“TSX-V”) and due diligence.  The terms of the transaction include cash payments, Millrock share payments and a royalty:

Cash payments:

  • $250,000 on the Closing Date.
  • $250,000 on or before the first anniversary of the Closing Date, payable in cash or Millrock shares or a combination thereof at Pembrook’s sole discretion, subject to TSX-V approval.

Share payments:

  • Initial Share Payment:  Millrock will issue 7,297,297 of its shares to Pembrook on the Closing Date.  This will result in Pembrook owning 7.76% of Millrock issued and outstanding share capital as of today’s date (“Pembrook Ownership”).
  • Additional Share Payment: One year from the Closing Date, Millrock will issue to Pembrook that number of shares that will ensure that the Pembrook Ownership established today has not been diminished.  However, the requirement for Millrock to make the additional share payment will be voided if Pembrook sells any of the shares issued under the Initial Share Payment during the year following the Closing Date.
  • Shares issued will be subject to a hold period of four months.

Royalty:

  • A royalty of 1.5% on gold and silver and 1.0% on other metals applies to production from any Mexico property held by PMXH (and not already subject to an underlying royalty) as of the Closing Date of the purchase but no others.

Following is a brief synopsis of the main PMXH project assets.  Further descriptions and a location map can be found on Millrock’s website at this link:

Rio Sonora Project, Sonora, northern Mexico, Cu-Au, 100%

This is a large land position situated between Cananea and La Caridad mines.  The target is a buried copper porphyry beneath conglomerate valley fill.  Copper occurrences and alteration in surrounding rocks provide support for geophysical targets beneath the conglomerate.

Las Cuarentas Oeste Project, Sonora, Mexico, Cu (Au), 100%

This property is situated on a very large, intense, zoned alteration system typical of porphyry copper deposits. Very little work has been done by prior workers because no actual intrusive porphyry rock is exposed at surface and base metal occurrences are limited.  A buried porphyry copper-molybdenum deposit is possible.

Las Cuarentas Este Project, Sonora, Mexico, Au-Ag, 100%

The property is situated on a continuation of the mineralized structure associated with the adjoining Mercedes gold-silver mine that is operated by Yamana Gold Inc.  There is potential for high-grade epithermal gold deposits on this property.

Violeta Project, northern Sonora – Au veins/breccias, 100%

This is a fractional claim block in the core of a known mineralized system in northern Sonora.  The surrounding claims are owned by another company that has expressed interest in purchasing this key land block.

Los Chinos Project, Sonora near Hermosillo, orogenic Au, 100%

This project targets Herradura-type gold deposits.  It is located along a juxtaposed contact of high grade Proterozoic metamorphic rocks against relatively un-metamorphosed but deformed metasedimentary rocks of Jura-Cretaceous age.  Several known gold showings suggest a favourable exploration environment. Preliminary exploration has defined some interesting gold values, including a newly discovered zone of oxidized pegmatite and quartz veining in the Proterozoic rocks.

Ramard Project, Sonora, epithermal / vein Au, 80 km north of Hermosillo, 100%

The claims cover a historic, polymetallic stream sediment anomaly as well as a known epithermal stockwork vein showing. Two areas of high grade gold in vein float with magnetite stockworks are present.  Additionally, a large skarn system was recently discovered.  The skarn contained anomalous silver, lead and zinc.

Villa Hidalgo, Sonora, vein Au, 100%:

This claim is on the southern extension of the Sacoton-Cananea-Caridad porphyry trend and was acquired on the basis of favourable geology and colour anomalies. Reconnaissance exploration has led to the discovery of auriferous stockwork zones near some historic mine workings.  Further mapping and prospecting are warranted.

La Union Project, Sonora, Au-Ag, 100%

This project is situated in the Herradura district of northwest Sonora.  Mapping has identified an area with high-grade silver-gold (and lead-zinc) veins.

Los Chivos Project, Central Baja California, orogenic gold, 100%

Reconnaissance exploration has defined some high grade vein mineralization in the district and there may be potential for larger Herradura-style orogenic gold deposits.

Guadalcazar Project, San Luis Potosí, central Mexico, Au-Ag, 100% Option from Servicio Geologico Mexico

At this project a skarn zone with strong silver is known.  Pembrook, from a 2013 drilling program, has reported high grade silver over significant drill intervals including 22 m @ 148 gpt Ag.

Caotan Project, Chiapas, southern Mexico, Au, 100% Option from Riverside

Early stage exploration has defined several drainages covering ten km of strike that yield transported float of high sulphidation gold mineralization consisting of vuggy silica, silicification and iron oxides with strong gold-silver.  Community relations work will be necessary to gain access.

The technical information within this document has been reviewed and approved by Gregory A. Beischer, President & CEO of Millrock.  Mr. Beischer is a Qualified Person as defined in NI 43-101.  The Qualified Person has personally inspected the Rio Sonora, Las Cuarentas, Ramard, Los Chinos and Guadalcazar properties and drill cores from the Las Cuarentas and Guadalcazar properties but has not verified assay results or grade calculations.

ABOUT MILLROCK RESOURCES INC.
Millrock Resources Inc. is a premier project generator to the mining industry.  In the search for world-class metallic mineral deposits, 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.  Funding for Millrock’s exploration projects primarily comes from its joint venture partners.  Business partners of Millrock include some of the leading names in the mining industry: Teck, First Quantum and Altius.

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

FOR FURTHER INFORMATION, PLEASE CONTACT
Gregory A. Beischer, President & CEO
Phone: (604) 638-3164
Toll Free: (877) 217-8978

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."