Millrock Provides Year-End Operations Update, 64North Gold Project, Alaska

VANCOUVER, BRITISH COLUMBIA, December 13, 2020 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”), along with partner Resolution Mineral Inc. (ASX: RML “Resolution”), has completed field exploration activities for the year at the 64North project. The project targets large-scale gold deposits in the Goodpaster District. The claims comprising the property are adjacent to the Pogo Mine, a multi-million-ounce gold mine operated by Northern Star Resources. 

Millrock President & CEO Gregory Beischer commented, “We are pleased to have been able to execute this exploration program despite the additional risks and challenges posed by COVID. A strong initial drill test of the West Pogo prospects was completed, and new drill targets were defined at other prospects on this district-scale gold project. We look forward to pending assay results and developing exploration plans for 2021.”

Highlights for 2020 include:

Corporate Matters:

• Resolution has timely expended in excess of US$5.0 million on project exploration and has indicated its intention to pay US$50,000 and issue 10 million Resolution shares to Millrock, thereby completing an initial 30% earn-in interest in the 64North Project. 

West Pogo Block:

• This block is located immediately west of Northern Star’s Pogo Mine, and the Goodpaster deposit that is now being delineated by Northern Star. CSAMT geophysical surveys carried out by Millrock in 2019 identified shallow-dipping conductive zones that potentially represented gold-bearing quartz veins and surrounding alteration zones.

• High resolution airborne magnetic and ZTEM geophysical survey data was collected and used to refine drill targets.

Figure 1. Millrock / Resolution claims shown in blue.

• Road access to the Aurora target area was completed to allow year-round operations.

• Nine core holes totaling 4,778 meters were drilled at the West Pogo block adjacent to the Pogo Mine property and on strike from Pogo’s Goodpaster deposit (Aurora, Reflection, and Echo targets).

• Drilling intersected a vein system; assays from mineralized zones intersected in the last two drill holes are expected in early January.

• 137 meters of road cut and trench sampling was completed at the AT prospect on the West Pogo block; complete results are expected in January and will be evaluated.

Figure 2. Aurora, Echo, Reflection and AT Prospects - West Pogo Block, 64North Project Alaska.

East Pogo Block:

• Previous exploration had identified high-grade gold-bearing quartz veins at the Boundary target.

• Airborne ZTEM, ground-based CSAMT surveys, mapping, prospecting, and geochemical sampling was completed at the Boundary target on the East Pogo block; a strong target for planned 2021 drilling was delineated.

• The claim block was extended eastward to cover interesting geophysical features.

Eagle Block:

• Prior exploration by others had identified intrusion-hosted disseminated gold mineralization; there is demonstrated potential for deposits of similar nature to the Fort Knox Mine located near Fairbanks, Alaska.

• High resolution airborne magnetic surveys were carried out and used to develop exploration plans.

• A 22-kilometer access trail was constructed leading south from the Pogo Mine road.

• Four trenches, each about 200 meters in length, were excavated to expose bedrock and continuous rock samples collected; assays are expected late January 2021. Drilling plans for 2021 will be contingent upon results. 

North Pogo Block:

• The north Pogo block is on the opposite side of the Goodpaster Batholith and may represent a mirror-image to the Pogo trend that has seen almost no prior exploration.

• Prospecting with stream sediment, rock, and soil sampling was carried out in the vicinity of an interesting airborne magnetic anomaly adjacent to a mapped low-angle fault; results have been received and are being evaluated.

Divide Block:

• Prior explorers had intersected high-grade gold with core drilling within a large multi-element soil anomaly rich in copper. The gold veins intersected are surrounded by copper-bearing rocks possibly indicative of a porphyry copper deposit.

• Stream sediment, soil, and rock sampling was done by Millrock to extend the anomalous zone eastward. The program results will be evaluated in January 2021.

Exploration at 64North is being done in a collaborative manner between technical teams from Millrock and earn-in funding partner Resolution. Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 was US$5.0 million which Resolution has met.

Upon issuance of 10 million Resolution shares and payment of US$50,000 Resolution will vest with an initial 30% ownership in the project. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019. 

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 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. and has a shareholding in Resolution Minerals Limited. 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 and, Altius as well as junior explorers Resolution, Riverside, and PolarX. 

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 may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to mount further exploration in 2021 and the completion of the initial earn-in stage by Resolution. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

Millrock Reports Update On Drilling, 64North Gold Project, Alaska and Stock Option Grant

VANCOUVER, BRITISH COLUMBIA, November 22, 2020 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) updates that drilling continues at the Aurora Target on the West Pogo block of the 64North Gold project.

Two holes are being drilled to provide further pierce points on the seven-meter thick quartz vein that was intersected on Hole 20AU07, as reported in a September 28, 2020 press release. Two holes totaling 1,100 meters are planned for the final phase of drilling in 2020. The first hole, which is being drilled from the same site as Hole 20AU07, is nearing the target depth. Drilling operations will cease by mid-December.

Figure 1. Aurora, Echo & Reflection Prospects - West Pogo Block, 64North Project Alaska, current drilling focus

Exploration at 64North is being done in a collaborative manner between technical teams from Millrock and earn-in funding partner Resolution Minerals Limited (ASX: RML, “Resolution”).

Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million and Resolution will vest with a 30% ownership upon expending this amount. Resolution is on track to earn its initial 30% interest. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019.

Stock Option Grant
The Millrock Board of Directors has approved, in accordance with the Company’s stock option plan, a grant of stock options to employees, officers, directors, and consultants of the company. The company has granted a total of 1,940,000 stock options that may be exercised at $0.105 for five years.

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 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. and has a shareholding in Resolution Minerals Limited. 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 and, Altius as well as junior explorers Resolution, Riverside, and PolarX.

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 may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to drill two further holes in 2020 at the Aurora Target. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

Millrock Reports Update On Drilling, 64North Gold Project, Alaska

VANCOUVER, BRITISH COLUMBIA, September 28, 2020 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) reports assay results from drilling from exploration drill holes 20EC05, 20RE06 and 20AU07 that have been recently completed at the Echo, Resolution, and Aurora targets on the West Pogo block of the 64North Gold project.
 
The locations of the holes drilled so far this year on the West Pogo Block are shown in Figure 1, along with the locations of the Echo, Reflection, and Aurora target areas. Also depicted are the locations of the Pogo Mine and the Goodpaster deposit situated on claims owned by Northern Star Resource Ltd (ASX: NST, “Northern Star”). Northern Star recently indicated that it intends to perform delineation drilling at Goodpaster with a $21 million budget in the coming year, and work is now underway.
 
Hole 20EC05 was drilled to test a strong, gently northwest dipping CSAMT conductor in a prospect area that is down-dip and approximately four kilometers from Northern Star’s Goodpaster deposit. On Millrock’s claims, it is referred to as the Echo prospect. Numerous fault zones with some pyrite and strong dolomite-sericite alteration were intersected from 224 meters to 293 meters downhole. No anomalous gold results were returned from these zones.
 
At the Reflection prospect, hole 20RE06 was drilled to test conductive rocks in an area where an intrusive rock body was interpreted from airborne magnetic data, two kilometers due east from Northern Star’s Goodpaster deposit. A fault zone with pyrite and arsenopyrite, locally with quartz breccia clasts, was intersected from 279.4 meters to 289.1 meters. Also, a zone of stockwork quartz mineralization was intersected over 0.6 meters starting at a depth of 324.9 meters. The mineralized zones did not contain any gold anomalies.
 
Drilled directly along strike from the Goodpaster deposit, hole 20AU07 intersected a zone of shallow-dipping quartz veining over a seven-meter interval, starting at 488 meters downhole. The zone of veining is hosted by paragneiss and is within a sericite – chlorite – dolomite altered zone measuring 22 meters thick from 476 meters to 498 meters. The alteration and veining contains pyrite, arsenopyrite, and pyrrhotite. The assay results show weakly anomalous gold values. Oriented drill core measurements indicate the vein dips gently at approximately 25 to 30 degrees to the west.
 
Millrock President & CEO Gregory Beischer commented: “We had high hopes for the seven-meter thick quartz vein interval intersected in hole 20AU07 and these results are disappointing. However, it is not unusual for gold concentration to change dramatically within a few tens of meters in vein-hosted systems such as these. Drilling the intersected vein in nearby locations could result in the gold discovery we seek.”

Figure 1. Aurora, Echo, and Reflection Prospects - West Pogo Block, 64North Project Alaska. These prospects are currently the focus.

Exploration at 64North is being done in a collaborative manner with technical teams from Millrock and earn-in funding partner Resolution Minerals Limited (ASX: RML, “Resolution”). Resolution has indicated a desire to drill two further holes from the same pad as hole 20AU07 at different azimuths. Plans are being made to execute this drilling in November, pending contractor availability. The holes will provide additional pierce points on the vein intersection made with hole 20AU07. The photographs in Figures 1, 2, and 3 show the quartz vein intersected with hole 20AU07.

Figure 2. Hole (20AU07) Quartz vein with fuchsite and sulphides - arsenopyrite, pyrite, pyrrhotite.

Figure 3. Hole #7 (20AU07), 485.65m to 489.85m, quartz and sulphide veins cross-cutting the paragneiss host rock.

Figure 4. Hole #7 (20AU07), 488.69m to 488.93m, quartz vein with fuchsite, arsenopyrite, pyrite and pyrrhotite.

Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million and Resolution will vest with a 30% ownership upon expending this amount. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019. 
 
Quality Control and Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Drill core was cut on-site at camp located near the drill hole and selective samples of mineralized zones collected. Drill core samples were kept in a secure location at all times. For the results presented here, the representative half-core samples underwent sample preparation at the Bureau Veritas laboratory in Fairbanks, Alaska, (preparation method code PRP70-250) using 70% to <2 mm Crush and Pulverize 85% to <75 um. Appropriate high, medium, and low gold and base metal standards were used by Millrock on a 1:20 basis (5%). Blanks were inserted on a 1:50 basis (2%). The Bureau Veritas laboratory introduces  QAQC samples and completes duplicate check assays on a routine basis. Following preparation in Fairbanks the samples were subsequently analysed at the Bureau Veritas laboratory in Reno, Nevada.  Gold was analysed by Fire Assay (code FA430/AA) with an AAS finish using a 30-gram nominal sample weight. No multi-element analysis was completed on the samples. Inspection of QAQC information indicates that all sample results are within tolerance.
 
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 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. and has a shareholding in Resolution Minerals Limited. 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, and Altius as well as junior explorers Resolution, Riverside, and PolarX.
 
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 may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to drill two further holes from the 20AU007 pad, or to conduct drilling operation year round. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

Millrock Reports Operations Update At 64North Gold Project, Alaska

Highlights:

• The planned program of 2,300 meters is nearing completion.

• Assay results from the first two holes have been received; results indicate anomalous gold and pathfinder values; further drilling is required.

• Geophysical surveys and field exploration at the Boundary Prospect, East Pogo Block are in progress and showing interesting targets.

VANCOUVER, BRITISH COLUMBIA, September 10, 2020 - Millrock Resources Inc.        (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on drilling and other exploration at its 64North Gold project. Exploration work is being funded and managed by Resolution Minerals (“Resolution” ASX: RML) in a collaborative arrangement with Millrock as the project operator. The 64North Gold Project is a very large tract of claims in Alaska’s emerging Goodpaster Gold District. Drilling has been ongoing since early June and continues at present.

The current drilling program is focused on the Aurora, Echo, and Reflection targets, all of which are adjacent to and generally west of the Pogo Mine property, which is owned and operated by Northern Star Resources Ltd. (“Northern Star”). Northern Star has previously reported a gold resource of 5.95 million ounces of gold in a series of veins grading 9.6 grams per tonne gold (Source: Northern Star website). More than four million ounces of gold has already been mined at Pogo and Northern Star has recently announced a new gold discovery called the Goodpaster deposit a short distance away from the mutual claim boundary. Millrock cautions that mineralization on the nearby Northern Star property is not necessarily indicative of gold mineralization hosted on the Company’s property. Presently, Millrock and Resolution are testing the Aurora Target southwest of the Goodpaster deposit held by Northern Star. Northern Star has recently indicated they will devote $21 million to perform delineation drilling at Goodpaster.

Holes 20AU001 and 20AU002 have been previously reported. Holes 20AU003 and 20AU004 are reported in this press release. Holes 20AU005 and 20AU006 have been recently completed and hole 20AU007 is in progress. Hole locations are shown in Figure 1.

Figure 01. Aurora, Echo & Reflection Prospects - West Pogo Block, 64North Project Alaska, current drilling focus.

Assay Results Hole ID’s 20AU03 and 20AU04

Assays from Aurora drill holes 20AU003 and holes 20AU004 indicate minor gold mineralization as detailed below. The alteration observed in the drill core matched the CSAMT and ZTEM geophysics anomalies. The Company is encouraged by the strong alteration, presence of gold, para-gneiss host rocks, and presence of sulfides indicating the strong fertility of the system.

Intervals Hole 20AU003

• 0.86m @ 0.35 g/t Au from 19m depth

• 0.86m @ 0.44 g/t Au from 423m depth

Intervals Hole 20AU004

• 0.78m @ 0.41 g/t Au from 522m depth

• 1.19m @ 0.76 g/t Au from 762m depth

Boundary Prospect

A ZTEM / MAG airborne geophysical survey and a ground-based CSAMT survey were recently completed. Conductive zones were identified in areas where geochemical anomalies and gold-anomalous intersections had been identified by prior explorers. A field team of geologists is presently conducting sampling and mapping operations. 

Figure 02. Quartz and sulphide veins at 1,060m Hole ID 20AU04 - typical of this hole.

Earn-In Agreement Terms

Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million. The partners are developing plans for further drilling and other exploration to be carried out in fall of 2020. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019. 

Quality Control and Quality Assurance
Millrock adheres to stringent Quality Assurance–Quality Control (“QA/QC”) standards. Drill core samples are kept in a secure location at all times. For this program two laboratories were used; some samples were sent to ALS Chemex prep laboratory in Fairbanks, Alaska USA, and others were sent to Bureau Veritas also in Fairbanks, Alaska. Representative half-core samples underwent sample preparation in Fairbanks. Prepared samples sent to ALS Chemex were subsequently analyzed at ALS Chemex laboratories in Whitehorse, Yukon, Canada. Gold was analyzed by Fire Assay (specifically ALS code Au-AA25 – Au) by fire assay and AAS using a gram nominal sample weight). Prepared samples sent to Bureau Veritas were sent to the Bureau Veritas laboratory in Reno, Nevada (BV code FA430/AA). The following QA/QC protocols were been adopted for this program: 1) Duplicates created as coarse crush duplicates on every 50th sample (2% insertion) in the sample preparation process at the laboratory, and 2) Blank material inserted at a rate of 2 blanks per 100 samples (2% insertion) and 3) Standards–Certified Reference Material (CRM’s) every 20th sample (5% insertion) plus additional random insertions at the supervising geologist’s discretion. All results from duplicates, blanks, and standards were reviewed and found to be accurate and within acceptable tolerances

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 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. and has a shareholding in Resolution Minerals Limited. 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, and Altius, as well as junior explorers Resolution, Riverside, and PolarX.

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 the planned drilling program will successfully be carried out. 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 mobilize the drill rig and camp and complete the drilling work and other customary risks of the resource industry.

Millrock Appoints New Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA, September 3, 2020 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) reports that it has engaged Dave Cross as the new Chief Financial Officer (“CFO”) of the Company.

Mr. Cross is a Chartered Professional Accountant (“CPA”), Certified General Accountant, and is a co-founder of Cross Davis & Company, a CPA firm that has focused on providing accounting and management services to publicly listed companies since 2010. In total, Mr. Cross has over 23 years of accounting experience, starting in 1997 with a Vancouver-based CPA firm. Mr. Cross has extensive knowledge and experience in the mining and mineral exploration sector. In terms of education, Mr. Cross holds a British Columbia Institute of Technology diploma in Financial Management. He presently serves as CFO for other TSX Venture Exchange companies including International Tower Hill Mines, New Range Gold, and Wealth Minerals.

Outgoing CFO Keith Granberry is leaving Millrock to pursue another opportunity in Alaska. He has committed to assist with a smooth transition as the new CFO takes on the responsibilities of the position. Millrock is grateful for the accomplishments Mr. Granberry has made over the past decade and wishes him good fortune with his next career. 

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator for 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. and has a shareholding in Resolution Minerals Limited. 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, and Altius as well as junior explorers Resolution, Riverside, and PolarX.

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). 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 Reports TSX-V Approval To Acquire Gold Exploration Projects in Fairbanks District, Alaska

VANCOUVER, BRITISH COLUMBIA, August 24, 2020 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) reports that the TSX Venture Exchange has approved two arm’s length property transactions in Alaska, announced on July 29, 2020.

Millrock has secured the mineral rights to the Treasure Creek property through an Exclusive Rights Agreement (“ERA”). Millrock may, at any time up to September 30, 2021, enter an Option to Purchase Agreement with predetermined business terms. The ERA obligates Millrock to perform adequate assessment work of approximately USD$15,000 and to pay Alaska claim rental fees in 2020 of approximately USD$25,000. Under the terms of the ERA, Millrock has issued 500,000 common shares at a deemed price of CAD$0.20625 per share to the underlying owners of the Treasure Creek Partnership. The shares are subject to a hold period and may not be traded until December 25, 2020.

The TSX Venture Exchange has also approved the issuance of 500,000 common shares to Capstone Mining Corp. in return for relinquishment and elimination of a royalty on the Hab, Sharp, Ster, Par, Cen, and PC claim blocks that Millrock purchased from Kiska Metals in 2016. The royalty had been granted to Capstone by a Kiska Metals predecessor company. The shares are subject to a hold period and may not be traded until December 7, 2020

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. and has a shareholding in Resolution Minerals Limited. 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, and Altius as well as junior explorers Resolution, Riverside and PolarX.

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 plan to advance the projects with some surface exploration in the near term and look to bring in a partner as drill targets are firmed up. 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 execute the planned surface exploration work and other customary risks of the resource industry, as well as Millrock’s ability to attract an exploration partner on commercial terms considered acceptable to Millrock’s management.

Millrock Corporate Update

VANCOUVER, BRITISH COLUMBIA, August 17, 2020 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) reports that drilling at the Echo Target on the West Pogo block of the 64North gold project in Alaska has now begun. A heliportable drill rig is being used to test a strong CSAMT geophysical survey conductor in the down-dip direction from the nearby Goodpaster gold deposit located on the neighbouring claims held by Northern Star Resources Limited (”Northern Star”). In their August 13, 2020 press release Northern Star has indicated their intention to do definition drilling necessary to calculate an initial resource estimate for their Goodpaster deposit with A$21 million being allocated for the work. 

At the Echo Target, the planned depth of hole 20EC005 is 300 meters. Next to be drilled is the Reflection Target. A hole at this location is designed to pierce a CSAMT conductive zone located just above the interpreted location of the same magnetic intrusive rock that hosts the Goodpaster deposit, along a west-northwest trending fault which passes very close to both the Goodpaster deposit and the Pogo Mine. The locations of the completed, progressing and planned holes are shown in Figure 1. Work on the project is being funded by Resolution Minerals Limited (ASX: RML).

Figure 01. Location map showing Northern Star’s Pogo gold mine and their Goodpaster gold deposit in relation to Millrock’s claim block (blue shading), and target areas and drill holes on Millrock’s claims.

Millrock also reports that Keith Granberry, Chief Financial Officer (“CFO”) has indicated his intention to resign from Millrock to pursue another opportunity in Alaska. A search for a replacement CFO is underway. Mr. Granberry has expressed his commitment to a smooth transition over the coming weeks. Millrock wishes Mr. Granberry well. Starting as Controller, but then moving to the CFO position rapidly, he has been employed by Millrock for close to a decade.

Millrock President and CEO Gregory Beischer commented: “Keith has been an integral part of the Millrock team and has helped the company grow through the years. We will miss his support and wish him great success in his new career.”

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 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. and has a shareholding in Resolution Minerals Limited. 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 and Altius as well as junior explorers Resolution, Riverside and PolarX.

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 plan to drill at the Echo Target and other planned drill holes, and a smooth transition of a replacement CFO. 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 execute the planned surface exploration work and other customary risks of the resource industry, as well as Millrock’s ability to attract an exploration partner on commercial terms considered acceptable to Millrock’s management.

Millrock Acquires Gold Exploration Projects In Fairbanks District and Reports Royalty Agreement, Alaska

Highlights

• Millrock has secured the exclusive right to enter option agreements on two different gold projects in the Fairbanks gold mining district, in the Tintina Gold Province, Alaska; the Treasure Creek project and the Ester Dome project.

• Treasure Creek is situated 30 kilometers west of the Fort Knox Gold Mine, which is operated by Kinross Gold Corporation (“Kinross”), and is underlain by similar geology. Gold mineralization is known from historic trenching and shallow drilling.

• Ester Dome is located on the western margin of the City of Fairbanks, and 60 kilometers southwest of Fort Knox. Gold mineralization is known from surface sampling and diamond drilling.

• Numerous placer gold deposits have been mined in valleys draining both the Treasure Creek and Ester Dome project areas, and several placer mining operations operated by other companies presently persist.

• Millrock will issue 500,000 Millrock shares to Capstone Mining Corp. as consideration for the relinquishment of a royalty that had applied to certain claim blocks comprising portions of Millrock’s 64North Gold Project, reducing the royalty burden on the property.

VANCOUVER, BRITISH COLUMBIA, July 29, 2020 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) reports that it has secured exclusive rights to two gold exploration projects in the Fairbanks gold mining district in Alaska. These Fairbanks Gold District claim blocks add to Millrock’s existing project portfolio in the Tintina Gold Province, the most prominent of which is the 64North gold project in the Goodpaster District.

Millrock President & CEO commented: “We are pleased to secure these mineral lands near Fairbanks. There is known gold mineralization on both claim blocks and the geology is similar to that present at the nearby Fort Knox gold mine operated by Kinross. The abundance of placer gold mined at surface underscores the potential we see to discover a large intrusion-related gold deposit of similar scale to Fort Knox. High-grade vein deposits are also a possibility. A recent drill intersection by Freegold Ventures Limited at the nearby Golden Summit project has reinvigorated interest in this great gold mining camp. We will advance the two new projects with some surface exploration in the near term and look to bring in a partner as drill targets are firmed up.” 

Millrock has secured the mineral rights to the Treasure Creek property through an Exclusive Rights Agreement (“ERA”). Under the ERA, Millrock may, at any time up to September 30, 2021, enter an Option to Purchase Agreement with predetermined business terms. The ERA obligates Millrock to perform adequate assessment work and to pay claim rentals in 2020. Consideration payable to the owners of the property (the Treasure Creek Partnership “TCP”) is 500,000 Millrock shares. The agreement is subject to approval of the TSX Venture Exchange.

Figure 1. Location map showing the Fairbanks and Goodpaster Districts with major deposits and mines shown.

The Fairbanks District has produced in excess of 8 million ounces of placer gold and more than 8 million ounces of lode gold production as reported by the Alaska Division of Geological and Geophysical (“DGGS”) surveys. As also documented by DGGS, more than 148,000 ounces of placer gold is reported to have been extracted from valleys that drain the Treasure Creek claim block. Figure 2 shows the location of the Treasure Creek and Ester Dome claim blocks in relation to the Fort Knox gold mine, the past-producing True North Mine, other major prospects, and the City of Fairbanks. Both projects are fully road accessible. The claims cover in excess of 14,000 hectares. The Treasure Creek claims cover the east-trending Scrafford Shear, which hosts numerous gold occurrences.

Figure 02. Location map showing the Treasure Creek claim block and surrounding Area of Interest (“AOI”), and the location of the Ester Dome claim block. (TCP = Treasure Creek Partnership. TAPS = TransAlaksa Pipeline.)

The Ester Dome project has been the subject of a similar Exclusive Rights Agreement that was executed by Millrock in 2016. Under that agreement, Millrock has kept the Ester Dome claims in good standing in return for the exclusive right to enter an option to purchase agreement with predetermined business terms. The Sheep Creek and Ester Creek placer gold deposits are located in valleys draining from the uplands of the Ester Dome property which is located on the western side of the City of Fairbanks. The former producing Grant Mine and Ryan Lode are located on adjacent properties held by other parties. The exclusive right granted under the agreement is valid until October of 2021.

Capstone Royalty

Millrock has, subject to TSX Venture Exchange approval, agreed to issue 500,000 Millrock shares to Capstone in return for relinquishment and elimination of a royalty on the Sharp, Ster, Par, Cen and PC claim blocks that Millrock purchased from Kiska Metals in 2016. The royalty had been granted to Capstone by a Kiska Metals predecessor company.

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 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. and has a shareholding in Resolution Minerals Limited. 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 and Altius as well as junior explorers Resolution, Riverside and PolarX.

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 plan to advance the projects with some surface exploration in the near term and look to bring in a partner as drill targets are firmed up. 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 execute the planned surface exploration work and other customary risks of the resource industry, as well as Millrock’s ability to attract an exploration partner on commercial terms considered acceptable to Millrock’s management.

Millrock Reports Operations Update: Aurora Target Drilling and Geophysical Surveys, West Pogo Block, 64North Gold Project, Alaska

Highlights:

• The planned program of 2,300 meters in three holes is well underway.

• Hole 20AU003 has been completed and tested gently northwest-dipping structures detected by CSAMT geophysical surveys in a low magnetic area.

• Hole 20AU004 is in progress and is being drilled to 950 meters to test a CSAMT conductor in the vicinity of the Half-Ounce Gulch gold prospect.

• Assay results from the current program are anticipated in late August/early September.

• An airborne magnetic ZTEM – MAG survey has been completed over the Aurora and Echo Targets, as well as the neighbouring Goodpaster gold deposit.

• Detailed airborne magnetic surveys are being flown in a collaborative effort with the State of Alaska Division of Geological and Geophysical Surveys.

• Plans are being made to test the Echo target, which is located in the down-dip direction from the adjacent Pogo Mine and Goodpaster prospect on the adjacent property owned by Northern Star Resources Limited.

VANCOUVER, BRITISH COLUMBIA, July 10, 2020 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on drilling and other exploration at its 64North Gold project. Exploration work is being funded and managed by Resolution Minerals (“Resolution” ASX: RML) in a collaborative arrangement with Millrock as the project operator. The 64North Gold Project is a very large tract of claims in Alaska’s emerging Goodpaster Gold District. Drilling has been ongoing since early June and continues at present. The drilling program is focused on the Aurora Target, with approximate hole locations shown in Figure 1.

The target being drilled at Aurora is adjacent and immediately west of the Pogo Mine property, which is owned and operated by Northern Star Resources Ltd. (“Northern Star”). Northern Star has previously reported a gold resource of 5.95 million ounces of gold in a series of veins grading 9.6 grams per tonne gold (Source: Northern Star website). More than four million ounces of gold has already been mined at Pogo, and Northern Star has recently announced a new gold discovery called the Goodpaster deposit a short distance away from the mutual claim boundary. Millrock cautions that mineralization on the nearby Northern Star property is not necessarily indicative of gold mineralization hosted on the Company’s property. Presently, hole 20AU004 is testing a CSAMT conductive zone on-trend and below the Half-Ounce Gulch prospect (“HOG” on Figure 1). High-grade gold grab samples have been reported from prior workers at this site, and two historic drill holes intersected high-angle veins beneath the prospect. The earlier workers did not have the benefit of the CSAMT data shown in Figure 2, and those earlier holes (MR12-01 and MR12-02) were not drilled deep enough to intersect the shallow-dipping conductive zone that Millrock postulates to represent low-angle fault structures with quartz veining, sulfides, and gold mineralization. The hole is presently at 900 meters depth below surface. 

Millrock President & CEO commented: “Hole 20AU004 is an exciting hole to drill. We believe the gold mineralization at surface is a good indicator for gold below surface in flat-lying structures. We are drilling through the target zone now. The ZTEM survey, if successful in detecting the conductive zones initially indicated by the CSAMT ground-based method, could result in great efficiencies in future exploration of other prospects across our expansive, district-scale land holdings.”

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Figure 01. Airborne magnetic base map with CSAMT conductors and progressing airborne ZTEM / Magnetic Survey Areas with historic, planned, and recently completed drill hole locations.

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Figure 02. CSAMT cross-section results for Line 3 with historic holes MR12-01 and MR12-02 projected to plane of section. Reddish areas represent increased conductivity, which indicates increased rock alteration by mineralizing fluids and sulfide minerals that may be accompanied by gold mineralization.

The Aurora target is a two-kilometer by five-kilometer zone of low-magnetic rocks adjacent to a late diorite intrusion. The setting is very similar to that observed at the nearby Pogo Mine. Millrock postulates that the late diorite body intruded along a westerly extension of the Liese Creek fault, which is known to have played a key role in the genesis of the Pogo gold deposits. Highly anomalous gold-bismuth-arsenic in soil is documented. High-angle gold-bearing quartz veins have been intersected by prior drilling. However, the few holes drilled by earlier workers did not go deep enough to intersect the low-angle, regional shear zone that is known to host gold at Pogo and the Goodpaster Deposit. Millrock believes this structure exists at the Aurora target.

Numerous zones of mafic rocks, fault zones, and quartz veins intercepted in drill hole 20AU001 fit with the exploration model. The low-angle, regional shear preferentially ruptured the mafic lithological layers. The Aurora Target is located in this regional shear and the current drill hole program will test the shear for gold mineralization in a variety of places. The regional shear at Aurora was detected by CSAMT and ELF ground-based geophysical surveys in 2019. The ZTEM airborne survey that was completed on July 8 and 9, 2020, has been executed in the same area (see dark blue outline on Figure 1), along with detailed airborne magnetic surveys. If the airborne methods are able to detect the regional shear effectively, the method may be applied elsewhere on the project in a very cost-effective manner.

Millrock has developed a comprehensive COVID-19 safety plan with clear protocols that will help keep the operating team safe. The plan has been submitted to the relevant agencies and approved by the State of Alaska. So far, the exploration team has remained in good health. 

Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019.

Quality Control and Quality Assurance
Millrock adheres to stringent Quality Assurance–Quality Control (“QA/QC”) standards. Drill core samples are kept in a secure location at all times. For this program, representative half-core samples will undergo sample preparation at ALS Chemex prep laboratory in Fairbanks, Alaska USA. Samples will be subsequently analyzed at ALS Chemex laboratories in Vancouver, Canada. Gold will be analyzed by Fire Assay (specifically ALS code Au-AA25 - Au by fire assay and AAS using a 30 gram nominal sample weight). Other elements (48 in total) will be analyzed using ALS method code ME-MS61 which involves a four-acid "near total" digestion and an ICP-MS + ICP-AES finish. The following QA/QC protocols have been adopted for this program: 1) Duplicates will be created as coarse crush duplicates on every 50th sample (2% insertion) in the sample preparation process at the laboratory, and 2) Blank material is to be inserted at a rate of 2 blanks per 100 samples (2% insertion) and 3) Standards–Certified Reference Material (CRM’s) every 20th sample (5% insertion) plus additional random insertions at the supervising geologist’s discretion. All results from duplicates, blan ks, and standards will be reviewed and if found to be accurate and within acceptable tolerances the results will be published.

 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. Historic drill results for hole MR-01 and MR-02were verified by Millrock personnel working under the supervision of Mr. Beischer. Drill core was resampled and re-assayed and similar results were obtained by the company responsible for the historic work, Alix Resources.

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. and has a shareholding in Resolution Minerals Limited. 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 and, Altius as well as junior explorers Resolution, Riverside and PolarX.

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 the planned drilling program will successfully be carried out. 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 mobilize the drill rig and camp and complete the drilling work and other customary risks of the resource industry.

Millrock Reports Resumption of Drilling And Geophysical Surveys, Aurora Target, West Pogo Block, 64North Gold Project, Alaska

Highlights

• The drilling program suspended in March 2020 due to COVID-19 concerns has been resumed.

• The planned program of 2,300 meters will continue through June and July with results to be released upon completion.

• Hole 20AU003 has been collared and is in progress to test gently northwest-dipping structures detected by CSAMT geophysical surveys in a low magnetic area.

• An airborne magnetic ZTEM – MAG survey is to be conducted over the Aurora and Echo Targets and the neighbouring Goodpaster gold deposit.

• Detailed airborne magnetic surveys will be flown in a collaborative effort with the State of Alaska Division of Geological and Geophysical Surveys.

VANCOUVER, BRITISH COLUMBIA, June 15, 2020 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on drilling at its 64North Gold project. Exploration work is being funded and managed by Resolution Minerals (“Resolution” ASX: RML) in a collaborative arrangement with Millrock as the project operator. The 64North Gold Project is a very large tract of claims in Alaska’s emerging Goodpaster Gold District. Drilling has resumed at the Aurora Target, continuing the program started in March, 2020. The approximate hole locations are shown in Figure 1.
 
The target being drilled at the Aurora Target is adjacent and immediately west of the Pogo Mine property, which is owned and operated by Northern Star Resources Ltd. (“Northern Star”). Northern Star has previously reported a gold resource of 5.95 million ounces of gold in a series of veins grading 9.6 grams per tonne gold (Source: Northern Star website). More than four million ounces of gold has already been mined at Pogo and Northern Star has recently announced a new gold discovery called the Goodpaster deposit a short distance away from the mutual claim boundary. Millrock cautions that mineralization on the nearby Northern Star property is not necessarily indicative of gold mineralization hosted on the Company’s property.
 
Millrock President & CEO commented: “We are pleased to be drilling again to further test the Aurora Target, which lies immediately southwest of the Goodpaster gold deposit discovered by our neighbours, Northern Star Resources. We will continue the systematic exploration of the favorable geophysical and structural/stratigraphic targets that comprise the Aurora Target area. Also, the planned airborne ZTEM and magnetic survey will be a great test. If successful in replicating results obtained by ground-based methods, this airborne method will result in significant cost savings to test other areas of the project.”

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Figure 01. Location map showing the Pogo Mine gold veins and Goodpaster gold deposit vein outlines projected to surface (orange polygons with black outlines) on Northern Star’s property. Red dots indicate the approximate location of holes being drilled in the initial program by Millrock and the blue dots indicate location of completed or progressing holes.

Aurora Target Overview

The Aurora Target is a two-kilometer by five-kilometer long zone of low-magnetic rocks adjacent to a late diorite intrusion. The setting is very similar to that observed at the nearby Pogo Mine. Millrock postulates that the late diorite body intruded along a westerly extension of the Liese Creek fault, which is known to have played a key role in the genesis of the Pogo gold deposits. Highly anomalous gold-bismuth-arsenic in soil is documented. High-angle gold-bearing quartz veins have been intersected by prior drilling, however, the few holes drilled by earlier workers did not go deep enough to intersect the low-angle, regional shear zone that is known to host gold at Pogo and the Goodpaster Deposit. Millrock believes this structure exists at the Aurora Target.

Results of Drill Hole 20AU001

Numerous zones of mafic rocks, fault zones, and quartz veins intercepted in drill hole 20AU001 fit with the exploration model. The low-angle, regional shear preferentially ruptured the mafic lithological layers. The Aurora Target is located in this regional shear and the current drill hole program will test the shear for gold mineralization in a variety of places. The regional shear at Aurora was detected by CSAMT and ELF ground-based geophysical surveys in 2019.

ZTEM Airborne Survey

A ZTEM airborne survey will soon be executed in the same area, along with detailed airborne magnetic surveys. If the airborne methods are able to detect the regional shear effectively, the method may be applied elsewhere on the project in a very cost-effective manner.
 
Millrock has developed a comprehensive COVID-19 safety plan with clear protocols that will help keep the operating team safe. The plan has been submitted to the relevant agencies and approved by the State of Alaska.
 
Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019.

 
Quality Control and Quality Assurance
Millrock adheres to stringent Quality Assurance–Quality Control (“QA/QC”) standards. Drill core samples are kept in a secure location at all times. For this program representative, half-core samples will undergo sample preparation at ALS Chemex prep laboratory in Fairbanks, Alaska USA. Samples will be subsequently analyzed at ALS Chemex laboratories in Vancouver, Canada. Gold will be analyzed by Fire Assay (specifically ALS code Au-AA25 - Au by fire assay and AAS using a 30-gram nominal sample weight). Other elements (48 in total) will be analyzed using ALS method code ME-MS61 which involves a four-acid "near-total" digestion and an ICP-MS + ICP-AES finish. The following QA/QC protocols have been adopted for this program: 1) Duplicates will be created as coarse crush duplicates on every 50th sample (2% insertion) in the sample preparation process at the laboratory, and 2) Blank material is to be inserted at a rate of 2 blanks per 100 samples (2% insertion) and 3) Standards–Certified Reference Material (CRM’s) every 20th sample (5% insertion) plus additional random insertions at the supervising geologist’s discretion. All results from duplicates, blanks, and standards will be reviewed and if found to be accurate and within acceptable tolerances, the results will be published.
 
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 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. and has a shareholding in Resolution Minerals Limited. 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 and, Altius as well as junior explorers Resolution, Riverside and PolarX.
 
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 the planned drilling program will successfully be carried out. 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 mobilize the drill rig and camp and complete the drilling work and other customary risks of the resource industry.

Millrock Provides Update On Drilling, Aurora Target, West Pogo Block, 64North Gold Project, Alaska

Highlights:

• Assay results from the lower portion of hole 20AU001 and the upper part of hole 20AU002 (which was suspended in progress above the target depth) have been received.

• Multiple zones of gold mineralization in fault zones have been intersected in both holes.

• The gold mineralization is associated with sulfide-bearing (pyrite, arsenopyrite, pyrrhotite and bismuthinite) quartz veins and vein breccia enveloped by extensive, strong, wallrock alteration.

• To date, drilling at Millrock’s Aurora Target has intersected a mineralizing system similar in nature to that on the neighboring Pogo Mine property (operated by Northern Star Resources Limited).  

• The drilling program, which was suspended in mid-March 2020 due to concerns over the COVID-19 virus, is scheduled to resume in late May 2020.

• Millrock, its contractors, and its funding partner have developed a set of protocols and guidelines for safe operations in the prevailing pandemic.

• An overall US$5 million exploration program is planned for 2020. Regional targets are being advanced to create a pipeline of drill-ready targets.

VANCOUVER, BRITISH COLUMBIA, May 14, 2020 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on drilling at its 64North Gold project. Exploration work is being funded and managed by Resolution Minerals (“Resolution” ASX: RML) in a collaborative arrangement with Millrock as the project operator. The 64North Gold Project is a very large tract of claims in Alaska’s emerging Goodpaster Gold District.

The target being drilled at the Aurora Target is adjacent and immediately west of the Pogo Mine property, which is owned and operated by Northern Star Resources Ltd. (“Northern Star”). Northern Star has previously reported a gold resource of 5.95 million ounces of gold in a series of veins grading 9.6 grams per tonne gold (Source: Northern Star website). More than four million ounces of gold has already been mined at Pogo and Northern Star has recently announced a new gold discovery called the Goodpaster deposit a short distance away from the mutual claim boundary. Millrock cautions that mineralization on the nearby Northern Star property is not necessarily indicative of gold mineralization hosted on the Company’s property.

Millrock President & CEO commented: “The core drilled in the first two holes of the program demonstrated a Pogo-like system with an abundance of alteration and sulfide mineralization indicating a robust hydrothermal environment. There are eleven gold-anomalous intersections in the first hole and three in the second hole. The style of mineralization and alteration intersected appears to be similar in character to Northern Star’s Goodpaster gold deposit located immediately to the northwest of our Aurora Target. We will continue the systematic exploration of the favorable geophysical and structural/stratigraphic targets that comprise the Aurora Target area.”

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Figure 01. Location map showing the Pogo Mine gold veins and Goodpaster gold deposit vein outlines projected to surface (white polygons) on Northern Star’s property. Red dots indicate approximate location of holes being drilled in the initial program by Millrock. The base map layer presented is airborne magnetic data.

Hole 20AU001 was collared at an azimuth of 145 degrees and a dip angle of -80 degrees. It was drilled to a depth of 462.4 meters to test a gently-dipping conductive zone detected by a CSAMT geophysical survey. The conductor was explained by multiple fault zones with strong sericite-dolomite alteration. Multiple zones of quartz veining and quartz breccia were intersected. Gold is strongly anomalous and correlates well with pathfinder elements arsenic, bismuth, and tellurium. The mineralization zone is similar in appearance to that reported from the Goodpaster deposit by Northern Star. Anomalous gold intersections are shown in Table 1 which includes assays previously reported from the upper portion of the hole. The correlation between the pathfinder elements and gold can be observed on the strip log presented below as Figure 2.

Hole 20AU002 was suspended in progress due to COVID-19 safety concerns above target level at 194.5 meters. The planned depth was 600 meters. The hole was targeting a conductive zone near the interpreted position of faults thought to be mineralizing pathways. The hole predominantly intersected quartz-biotite-feldspar-gneiss (paragneiss). Though above target level, several quartz veins with anomalous gold values were intersected. Table 1 shows anomalous gold intersections obtained in Hole 20AU002 in the portion of the hole drilled before the program was suspended.

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The table above documents intervals exceeding 0.3 grams per tonne gold. It is not known with certainty whether these intersections represent true width. Further information from other drill holes is needed. Intervals were calculated using a 0.3 gram per tonne gold cutoff with a maximum 0.4 meter internal dilution.

The following strip log illustrates the geology, alteration, gold intercepts and pathfinder element distribution in hole 20AU001:

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Figure 02: 20AU001 Strip Log with Assays

The Aurora target is a two-kilometer by five-kilometer-long zone of low-magnetic rocks adjacent to a late diorite intrusion. The setting is very similar to that observed at the Pogo Mine. Millrock postulates that the late diorite body intruded along a westerly extension of the Liese Creek fault, which is known to have played a key role in the genesis of the Pogo gold deposits. Highly anomalous gold-bismuth-arsenic in soil is documented. High-angle gold-bearing quartz veins have been intersected by prior drilling, however, the few holes drilled by earlier workers did not go deep enough to intersect the low-angle, regional shear zone that is known to host gold at Pogo and the Goodpaster Deposit. Millrock believes this structure exists at the Aurora target. Numerous zones of mafic rocks, fault zones and quartz veins intercepted in drill hole 20AU001 fit with the exploration model. The low-angle, regional shear preferentially ruptured the mafic lithological layers. The Aurora Target is located in this regional shear.

Further drilling is set to begin in late May 2020. Millrock, along with its funding partner and drilling contractor, have developed a comprehensive COVID-19 safety plan with clear protocols that will help keep the team safe.

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Figure 03. Location map showing location of the Pogo Mine gold vein outlines (orange polygons) and Goodpaster (GP) gold deposit on Northern Star’s property. Red dots indicate approximate location of holes to be drilled in Millrock’s current program. Blue dots represent holes that have been completed or are in progress.

Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash, and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made December 16, 2019.

Quality Control and Quality Assurance
Millrock adheres to stringent Quality Assurance–Quality Control (“QA/QC”) standards. Drill core samples are kept in a secure location at all times. For this program representative half-core samples underwent sample preparation at ALS Chemex prep laboratory in Fairbanks, Alaska USA. Samples were subsequently analyzed at ALS Chemex laboratories in Vancouver, Canada. Gold was analyzed by Fire Assay (specifically ALS code Au-AA25 - Au by fire assay and AAS using a 30 gram nominal sample weight). Other elements (48 in total) were analyzed using ALS method code ME-MS61 which involves a four-acid "near total" digestion and an ICP-MS + ICP-AES finish. The following QA/QC protocols have been adopted for this program: 1) Duplicates were created as coarse crush duplicates on every 50th sample (2% insertion) in the sample preparation process at the laboratory, and 2) Blank material was inserted at a rate of 2 blanks per 100 samples (2% insertion) and 3) Standards–Certified Reference Material (CRM’s) every 20th sample (5% insertion) plus additional random insertions at supervising geologist’s discretion. All results from duplicates, blanks, and standards were reviewed and found to be accurate within acceptable tolerances for results obtained to date.

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 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 and, Altius as well as junior explorers Resolution, Riverside and PolarX.

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 the planned drilling program will successfully be carried out. 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 mobilize the drill rig and camp and complete the drilling work and other customary risks of the resource industry.

Millrock and Resolution Announce Initial Drill Results From Hole 20AU001 and Planned Drilling Resumption, Aurora Target, West Pogo Block, 64North Gold Project, Alaska

Highlights:

• Assay results from the upper two thirds of Hole 20AU001 intersected multiple zones of gold mineralization associated with elevated arsenic and bismuth concentrations in a robust hydrothermal system.

• The upper portion of hole 20AU002 contained zones of quartz - sulfide mineralized rock. This hole was suspended in progress at 194 meters depth (planned depth 600 meters) due to travel restriction concerns of the drill contractor relating to COVID-19 virus.

• The remainder of hole 20AU001 and 20AU002 have been logged, sampled and sent to the laboratory; assays are pending.

• A drilling program continuation is planned for late May 2020.

• The drilling plan includes completion of hole 20AU002, and four or five additional drill holes totaling approximately 2,400 meters with strict COVID-19 related safety protocols in place.

• An overall US$5 million exploration program is planned for 2020. Regional targets are to be advanced to create a pipeline of drill-ready targets.

VANCOUVER, BRITISH COLUMBIA, April 27, 2020 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on drilling at its 64North Gold project. Exploration work is being funded and managed by Resolution Minerals (“Resolution” ASX: RML) in a collaborative arrangement with Millrock as the project operator. The 64North Gold Project is a very large tract of claims in Alaska’s emerging Goodpaster Gold District.

The target being drilled at the Aurora prospect is adjacent and immediately west of the Pogo Mine property, which is owned and operated by Northern Star Resources Ltd. (ASX: NST) (“Northern Star”). Northern Star has previously reported a gold resource of 5.95 million ounces of gold in a series of veins grading 9.6 grams per tonne gold (Source: Northern Star website). More than four million ounces of gold has already been mined at Pogo, and Northern Star has announced a new gold discovery called the Goodpaster deposit a short distance away from the mutual claim boundary. Millrock cautions that mineralization on the nearby Northern Star property is not necessarily indicative of gold mineralization hosted on the Company’s property.

Millrock President & CEO commented: “The core we drilled in the first hole of the program demonstrated a Pogo-like system with an abundance of alteration and sulfide mineralization indicating a robust hydrothermal system. Gold values are not strong, but the mineralization we have intersected appears to be similar in character to Northern Star’s Goodpaster gold deposit. located immediately to the northwest of our Aurora prospect. The resumption of drilling will continue the systematic exploration of the favorable geophysical and structural/stratigraphic targets that comprise the Aurora prospect area.”

Figure 01. Location map showing the Pogo Mine gold veins and Goodpaster gold deposit vein outlines projected to surface (white polygons) on Northern Star’s property. Red dots indicate approximate location of holes being drilled in the initial program by Millrock. The base map layer presented is airborne magnetic data.

Hole 20AU001 was collared at an azimuth of 145 degrees and a dip angle of -80 degrees. It was drilled to a depth of 462.4 meters. An interval from 119 to 137 meters of hole 20AU001 intersected multiple thin quartz sulfide veins containing elevated gold, arsenic, bismuth and tellurium enveloped by strong dolomite sericite alteration. This zone is similar to the mineralization reported from the Goodpaster deposit by Northern Star.

At 137 meters alteration transitioned to sericite dominant and then weakened at 181 meters. Dolomite-sericite alteration increased at 200 meters and continued to 246 meters with a quartz breccia arsenopyrite zone at 242 meters. From 260 meters to 312 meters the alteration is silica dominant, and at 276 meters to 278 meters there is zone with abundant fine grained arsenopyrite. Each of the zones is elevated strongly in arsenic, moderately in bismuth with weak but anomalous gold values. The lower part of the hole, which is yet to be assayed, also contain quartz veins with arsenopyrite. 

The following table documents intervals exceeding 0.3 grams per tonne gold. It is not known with certainty whether these intersections represent true width. Further information from other drill holes is needed.

Intervals were calculated using a 0.3 gram per tonne gold cutoff with a maximum 0.4 meter internal dilution.

The following strip log illustrates the geology, alteration, gold intercepts and pathfinder element distribution.

Figure 01: 20AU001 Striplog with Assays

The Aurora target is a two by five-kilometer-long zone of low-magnetic rocks adjacent to a late diorite intrusion. The setting is very similar to that observed at the Pogo Mine. Millrock postulates that the late diorite body intruded along a westerly extension of the Liese Creek fault, which is known to have played a key role in the genesis of the Pogo gold deposits. Highly anomalous gold-bismuth-arsenic in soil is documented. High-angle gold-bearing quartz veins have been intersected by prior drilling, however, the few holes drilled by earlier workers did not go deep enough to intersect the low-angle, regional shear zone that is known to host gold at Pogo and the Goodpaster Deposit. Millrock believes this structure exists at the Aurora target. Numerous zones of mafic rocks intercepted in drill hole 20AU001 fit with the exploration model. The low-angle, regional shear preferentially ruptured the mafic lithological layers. The Aurora target is located in this regional shear.

From a recent CSAMT survey, the depth to the shear zone is 150 meters on the east and 450 meters depth on the west end of the Aurora target. Hole 20AU001 has confirmed that the CSAMT conductive zone represents a series of shallow-dipping fault zones with quartz, quartz breccia, and sulfide minerals.

Figure 03. Location map showing location of the Pogo Mine gold vein outlines (orange polygons), Central Lodes (CL) gold deposit, and Goodpaster (GP) gold deposit on Northern Star’s property. Red dots indicate approximate location of holes to be drilled in the current program. Blue dots represent holes that have been completed or are in progress.

Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made December 16, 2019. 

Quality Control and Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Drill core samples are kept in a secure location at all times. For this program representative half-core samples underwent sample preparation at ALS Chemex prep laboratory in Fairbanks, Alaska USA. Samples were subsequently analyzed at ALS Chemex laboratories in Vancouver, Canada. Gold was analyzed by Fire Assay (specifically ALS code Au-AA25 - Au by fire assay and AAS using a 30 gram nominal sample weight). Other elements (48 in total) were analyzed using ALS method code ME-MS61 which involves a four-acid "near total" digestion and an ICP-MS + ICP-AES finish. The following QA/QC protocols have been adopted for this program: 1) Duplicates were created as coarse crush duplicates on every 50th sample (2% insertion) in the sample preparation process at the laboratory, and 2) Blank material was inserted at a rate of 2 blanks per 100 samples (2% insertion) and 3) Standards – Certified Reference Material (CRM’s) every 20th sample (5% insertion) plus additional random insertions at supervising geologist’s discretion. All results from duplicates, blanks, and standards were reviewed and found to be accurate within acceptable tolerances for results obtained to date.

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 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 and, Altius as well as junior explorers Resolution, Riverside and PolarX.

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 drilling will successfully be carried out in the first quarter of 2020. 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 mobilize the drill rig and camp and complete the drilling work and customary risks of the resource industry.

Millrock and Resolution Announce Temporary Suspension of Drill Campaign On Aurora Target, West Pogo Block, 64North Gold Project, Alaska

Highlights:

• As a precaution against the risk of COVID-19, and in the best interest of the safety of staff, Millrock and Resolution have temporarily suspended drilling operations at 64North.

• Hole 20AU-001 was completed to a depth of 462.4 meters. Several zones of quartz veining with sulfide mineralization and strong to intense sericite – dolomite wall rock alteration were intersected.

• Hole 20AU-002 was suspended in progress at 194.5 meters, short of the planned 600-meter depth. The drilling contractor elected to remove personnel and equipment to avoid travel restrictions. This hole also intersected quartz veining, alteration and sulfide mineralization.

• All core drilled is at Millrock’s core logging facility in Fairbanks, Alaska and is being logged and sampled, with strict protocols in place for employee protection from COVID-19 infection.

• Assay laboratory operations are presently continuing with strict COVID-19 protocols. Assuming that operations continue, assay results can be expected about four weeks from now.

• Drilling operations will resume as soon as it is safe to do so.

• Data compilation and analysis work continue to assess regional prospectivity. Together, the Millrock and Resolution teams are delineating and prioritizing a pipeline of drill-ready prospects across the large 660 square kilometer land package.

• All other Millrock technical and administrative staff are working effectively and productively from home. The Company is very actively generating new gold and copper exploration targets through review of public and proprietary geological, geochemical, and geophysical data sets.

VANCOUVER, BRITISH COLUMBIA, March 30, 2020 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”), together with its partner Resolution Minerals Ltd., (“Resolution” ASX: RML), has suspended the drilling operation at the Aurora Target of the West Pogo Block at the 64North Project. The move has been made in response to the risk associated with the COVID-19 virus. While the drill crew was completely isolated, and thus in a very safe location for COVID-19 risk, it was the preference of the drilling contractor to stop drilling and allow its personnel to return to their homes and families in the Lower 48 United States before conditions or travel restrictions would prevent their return home from being possible. The drill crew has demobilized. As of 5:00pm on Saturday, March 28, 2020, Alaska’s Governor has issued a “Shelter in Place Order” that restricts travel.

Millrock President & CEO commented: “While it’s disappointing to have to curtail the drilling program, the safety of our people is always paramount. We are very pleased that the first drill hole of the program intersected significant quartz veining with pyrite and arsenopyrite with trace amounts of bismuthinite. These sulfide minerals are often associated with gold in the area and we will await the assay results with great anticipation!”

Hole 20AU-001 was drilled at an azimuth of 145 degrees and a dip of -80 degrees to a depth of 462.4 meters. The entire upper portion of the hole, from first bedrock at 40 meters to approximately 320 meters was mineralized with quartz veins and veinlets with pyrite and arsenopyrite and locally bismuthinite. Alteration is rated as moderate to intense, is pervasive throughout the upper 320 meters of the hole, and consists of silicification and sericite – dolomite alteration. The following highlight mineralized intercept was described by Millrock’s geologist as follows: “from 230.7 meters to 258.9 the core is predominantly composed of strongly altered (silica – sericite – dolomite) gneiss with abundant quartz veinlets with some larger veins and brecciated zones with abundant pyrite and arsenopyrite and with one instance of bismuthinite noted.”

Figure 1. Zone of quartz veining with pyrite and arsenopyrite mineralization.

The core drilled was HQ diameter using triple tubes and an oriented core system. Core angles generally indicate that the veins intersected are shallow dipping. However, veins in high-angle structures are also present. There is not enough information yet available to determine whether the drill core intercepts represent true width.

Figure 2. Brecciated vein with abundant arsenopyrite.

Hole 20AU-002 was drilled at an azimuth of 145 degrees and a dip of -80 degrees. Planned depth was 600 meters. Drilling was suspended by the contractor at 194.4 meters. Initial review of the core indicated abundant quartz veins and veinlets with pyrite and arsenopyrite. The core is now at Millrock’s core logging facility in Fairbanks and will be logged in detail in the coming week. Once conditions allow, the hole will be re-entered and deepened to the planned depth.

Core logging and sampling of the drill core continues. Assay laboratory operations are also continuing. As long as the logging, sampling, and assaying work can continue, it is anticipated that results would be received about four weeks from now.

While drilling operations are suspended, Millrock and Resolution will continue to systematically evaluate regional data sets to select target areas for follow-up exploration. Numerous targets are emerging across the large 660 square kilometer land package. The team is planning the next logical exploration steps for each prospect and is prioritizing the targets. A continuous pipeline of targets, each with a plan to move them to drill readiness is being formed.

Millrock’s technical and administrative teams are continuing to productively work from their homes. The Company continues to generate gold and copper exploration targets throughout Alaska and plans to make new property acquisitions.

Figure 3. Location map showing the Pogo Mine gold veins and Goodpaster gold deposit vein outlines projected to surface (white polygons) on Northern Star’s property. Red dots indicate approximate location of holes being drilled in the initial program by Millrock. The base map layer presented is airborne magnetic data.

Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made December 16, 2019.

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 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 and, Altius as well as junior explorers Resolution, Riverside and PolarX.

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 drilling will resume in the near future. 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 safely remobilize a drill rig and camp and complete the drilling work while the ongoing COVID-19 virus pandemic risks continue, and customary risks of the resource industry.

Millrock and Resolution To Begin Drilling On Aurora Target, West Pogo Block, 64North Gold Project, Alaska

Highlights:

• Camp and drill rig are presently being mobilized to the Aurora target, immediately to the west of the Pogo Mine, Alaska.

• The first drill phase is planned to begin in early March 2020 with a planned initial program of 2,000 meters in four holes.

• The drill holes will test area of low magnetic intensity and will pierce conductive zones thought to represent a regional, low-angle, northwest-dipping shear zone.

• The target shear zone is interpreted to be the same shear zone that hosts the gold deposits being mined by Northern Star Resources Limited (“Northern Star”) at the Pogo Mine.

• The shear zone to be drilled by Millrock is directly along strike from the new Goodpaster gold deposit that was recently reported by Northern Star.

• An overall US$5 million exploration program is planned for 2020; planning for summer 2020 exploration programs is underway.
  

VANCOUVER, BRITISH COLUMBIA, March 2, 2020 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on upcoming drilling at 64North.

Millrock President & CEO commented: “The proximity to a high-grade mine, and proximity to a new high-grade gold deposit discovery made by our neighbours just on the other side of our mutual claim boundary, along with strong geological, geochemical and geophysical anomalies, make the Aurora target highly compelling.”

64North Gold Project, Goodpaster Mining District, Alaska.

Initial drilling at the Aurora target on the West Pogo Block of the 64North Gold Project is scheduled to begin in early March 2020. The camp and drill rig are presently being mobilized to the Aurora target, located to the immediate west of the Pogo Gold Mine operated by Northern Star. Earn-in partner, Resolution Minerals Ltd., (“Resolution” ASX: RML) is funding the work.

Millrock and Resolution technical teams have collaborated to analyze data and choose the first targets. The initial drilling phase will consist of four holes totaling 2,000 meters and will test the Aurora target. The target area is located within sight and approximately 2.5 to 3.5 kilometers west of Northern Star’s Pogo Mine. Northern Star reports an endowment of approximately 10 million ounces of gold at Pogo. More recently Northern Star has reported discovery of the Goodpaster gold deposit northwest of the mine, even closer to the mutual Millrock – Northern Star claim boundary and the Aurora target. Millrock cautions that mineralization on the nearby Northern Star property is not necessarily indicative of gold mineralization hosted on the Company’s property.

The Aurora target is a 1.5 by 4.0 kilometer long zone of low-magnetic rocks adjacent to a late diorite intrusion. The setting is very similar to that observed at the Pogo Mine. Millrock postulates that the late diorite body intruded along a westerly extension of the Liese Creek fault which is known to have played a key role in the genesis of the Pogo gold deposits. Highly anomalous gold-bismuth-arsenic in soil is documented. High-angle gold-bearing quartz veins have been intersected by prior drilling, however, the few holes drilled by earlier workers did not go deep enough to intersect the low-angle, regional shear zone that is known to host gold at Pogo and the Goodpaster Deposit. Millrock believes this structure exists at the Aurora target. From a recent CSAMT survey, the depth to the shear zone is 150 meters on the east and 450 meters depth on the west end of the Aurora target.

Drilling will begin at the east end of the target and is scheduled to be complete by early April. A second contingent drilling phase in the vicinity of the Half-Ounce-Gulch prospect is tentatively scheduled for May 2020.

The various attributes of the target and the approximate drill hole locations are shown on the following compilation map.

Figure 1. Location map showing the location of the Pogo Mine gold vein outlines (orange polygons), Central Lodes (CL) gold deposit, and Goodpaster (GP) gold deposit on Northern Star’s property. Red dots indicate the approximate location of holes to be drilled in the initial program.

Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019. 

Stock Option Grant

The Millrock Board of Directors has approved, in accordance with the Company’s stock option plan, a grant of stock options to employees, officers, directors, and advisors of the company. The company has granted a total of 2,430,000 stock options that may be exercised at $0.135 for five years.

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 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 and, Altius as well as junior explorers Resolution, Riverside and PolarX.

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 drilling will successfully be carried out in the first quarter of 2020. 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 mobilize the drill rig and camp and complete the drilling work and customary risks of the resource industry.

Millrock Closes Non-Brokered Private Placement Financing

VANCOUVER, BRITISH COLUMBIA, February 13, 2020 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or “the Company") reports the non-brokered private placement announced on January 31, 2020, has been completed and was over-subscribed.  A total of 12,575,333 units (the “Units”) at a price of $0.12 per Unit have been issued for gross proceeds raised of $1,509,039.96.  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, 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.

 Finder’s fees have been paid as follows in connection with financing:  $18,900 and 157,500 Finder’s Warrants to RedPlug Inc.; $8,610 and 71,750 Finder’s Warrants to Haywood Securities Inc.; $17,724 and 147,700 Finder’s Warrants to Canaccord Genuity Corp; $1,680 and 14,000 Finder’s Warrants to Sprott Capital Partners LP. The Finder’s Warrants have the same terms as the Unit Warrants except that they are non-transferable.

The common shares forming part of the Units, the Unit Warrants 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 June 15, 2020.

The net proceeds from the Offering will be used to advance exploration on the Company’s current projects ($300,000), for generation of new projects ($400,000), marketing of projects to funding partners ($150,000) and the remainder for general corporate purposes. The financing is subject to final approval from the TSX Venture Exchange.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is 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, Riverside, PolarX and Resolution Minerals.

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. 

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 Increase In Non-Brokered Private Placement Financing

VANCOUVER, BRITISH COLUMBIA, February 10, 2020 - Millrock Resources Inc. (TSXV: MRO) (“Millrock” or the “Company”) reports it has increased the non-brokered private placement announced on January 31, 2020. The financing will now consist of up to 12,500,000 units (the “Units”) at a price of $0.12 per Unit, for gross proceeds of up to $1,500,000. 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, 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 proceeds from the Offering will be used to advance exploration on the Company’s current projects ($300,000), for generation of new projects ($400,000), marketing of projects to funding partners ($150,000) and the remainder for general corporate purposes.

The financing is subject to approval of 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 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, Riverside, PolarX and Resolution Minerals.

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 Provides Corporate Update Drilling To Begin At West Pogo, Alaska

Highlights:

• Millrock has been advised that its partner Resolution Minerals has raised sufficient capital to fund a planned drilling program on the Aurora Target, immediately to the west of the Pogo Mine, Alaska.

• The first drill phase is planned to begin in early March 2020 with a planned initial program of 2,000 meters in four or five holes. An overall US$5 million exploration program is planned for 2020.

• Millrock has been granted a royalty on Northway Minerals’ Napoleon property in Alaska, in return for an exclusive copy of proprietary exploration information owned by Millrock.

• First Quantum Minerals has elected not to proceed further with its exclusive right to enter an option agreement on the Dragonslayer prospect, a portion of the district-scale Chisna copper-gold porphyry project, Alaska.

• Millrock will raise C$1 million as announced last week. Proceeds will primarily be used to acquire more gold projects in Alaska’s Tintina Gold Province.

VANCOUVER, BRITISH COLUMBIA, February 4, 2020 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on recent activity and plans.

Millrock President & CEO commented: “Millrock has made some strong advancements through 2019. We believe that 2020 will be a watershed year for the Company, and we are particularly excited to begin exploration work in earnest at the 64North Gold Project. We will begin with a drill program at the compelling Aurora Target located immediately west of the Pogo Gold Mine in Alaska”.

64North Gold Project
Goodpaster Mining District, Alaska.

Initial drilling at the Aurora target on the West Pogo Block of the 64North Gold Project is scheduled to begin in early March 2020. Earn-in partner Resolution Minerals Ltd., (“Resolution” ASX: RML) reported yesterday in a press release that it had successfully raised A$4.5 million to fund the planned work. The initial program will consist of four or five holes totaling 2,000 meters and will test the Aurora target. The target area is located within sight and approximately 2.5 to 3.5 kilometers west of Northern Star’s Pogo Mine. Northern Star reports an endowment of approximately 10 million ounces of gold at Pogo. (3.8 million ounces mined at 13.8 grams per ton gold (“gpt Au”), 1.5 million ounces reserves at 7.5 gpt Au included in a resource of 5.95 million ounces at 9.5 gpt Au, as reported by the ASX listed company in an August 1, 2019 press release. The reserves and resources reported on are not on Millrock’s ground and Millrock has not independently verified the numbers reported by Northern Star).

More recently, Northern Star has reported the discovery of the Goodpaster gold deposit northwest of the mine, even closer to the mutual Millrock – Northern Star claim boundary and the Aurora target. The Aurora target is a 1.5 by 4.0 kilometer long zone of low-magnetic rocks adjacent to a late diorite intrusion. The setting is very similar to that observed at the Pogo Mine.

Millrock postulates that the late diorite intruded along a westerly extension of the Liese Creek fault, which is known to have played a key role in the genesis of the Pogo gold deposits. Highly anomalous gold-bismuth-arsenic in soil is documented. High-angle gold-bearing quartz veins have been intersected by prior drilling, however, the few holes drilled by earlier workers did not go deep enough to intersect the low-angle shear zone that is known to host gold at Pogo and the Goodpaster deposit. Millrock believes this structure exists at the Aurora target. From a recent CSAMT survey it appears likely that a favourable shear zone is present below surface. Drilling will begin at the east end of the target. The various attributes of the target are shown on the following compilation map.  

Figure 1. Airborne magnetic map showing location of the Pogo Mine gold veins, Goodpaster (GP) gold deposit on Northern Star’s property. Note that the gold deposits occur in areas of low magnetic susceptibility (bluish shading) near magnetic diorite intrusions (red-magenta shading). Also note the presence of CSAMT geophysical survey conductors (red ellipses) within the magnetic low areas on Millrock’s claims in the Aurora Target Area and the Echo Target Area. Red lines are faults that can host gold mineralization.

64North Project Partnership Summary

Resolution can earn up to a 60% interest in the 64North Gold Project through exploration expenditures of US$20 million, payment of US$200,000 cash and issuance of 38 million Resolution shares. The minimum commitment for 2020 is US$5.0 million. Other details of the agreement between Millrock and Resolution are documented in Millrock’s announcement made on December 16, 2019.

Napoleon Gold Royalty
Fortymile Mining District, Alaska

Millrock has signed an agreement with Northway Resources (TSX-V: NTW “Northway”) concerning its Napoleon gold exploration property in eastern Alaska. Millrock previously held claims in this area and owns geological and geochemical information concerning the project. Millrock has sold an exclusive copy of the information to Northway. In return, Northway has granted a 0.5% Net Smelter Returns royalty to Millrock on the Napoleon claims, and any claims Northway may acquire in a prescribed area of interest surrounding Northway’s current claim block. 

Dragonslayer Copper-Gold Prospect
Chisna Project, Alaska

In an announcement made by Millrock on September 23, 2019, First Quantum Minerals Ltd. was granted an exclusive right to enter an option to joint venture agreement concerning the Dragonslayer copper-gold prospect, a key area of Millrock’s larger Chisna project. A program of stream sediment and soil sampling was carried out in September 2019. Sampling conditions proved difficult, with low gradient streams and thick overburden with extensive organic cover. Despite the poor sampling conditions, anomalous values of copper and pathfinder elements were returned. The work did not clearly demonstrate that a porphyry copper deposit is present; the results are inconclusive. Further exploration work is warranted. However, First Quantum elected not to exercise its exclusive right. Millrock will seek out other funding partners.

Private Placement Equity Financing
and Project Generation

Millrock has announced that it will raise $1.0 million in a non-brokered private placement financing. Existing Millrock shareholders are being given priority. Proceeds of the financing are to be used primarily to acquire early-stage gold projects in the Alaska portion of the Tintina Gold Province.

Figure 2. Goodpaster Gold District Location in the Tintina Gold Province.

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 Certified Professional Geologist (American Institute of Prefessional Geologists CPG#10505, BSc. (Honours) Laurentian University, 1987) and a Mining Engineering Technologist (Hailerybury School of Mines, 1981) and 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 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 and, Altius as well as junior explorers Resolution, Riverside and PolarX.

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 form an exploration agreement after the due diligence period, receive funding from N27, enter a Shared Use Agreement, complete installation of a drill trail and water well during 2019, and to begin a drilling program in the first quarter of 2020. 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 Financing

VANCOUVER, BRITISH COLUMBIA, January 31, 2020 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or the “Company") announces that it plans to raise gross proceeds of  $1,000,000 through a non-brokered private placement (the "Offering") of 8,333,333 units (the “Units”) at a price of $0.12 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 British Columbia 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, 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 gross proceeds from the Offering will be used to advance exploration on the Company’s current projects ($200,000), for generation of new projects ($300,000), marketing of projects to funding partners ($100,000) and the remainder for general corporate purposes.

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 January 29, 2020 (the "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 February 7, 2020.

Finder’s fees of 7% cash and 7% finder’s warrants (the “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.

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, Riverside, PolarX and Resolution Minerals.

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

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.