VANCOUVER, BRITISH COLUMBIA, June 1, 2010 - Millrock Resources Inc. (MRO - TSX:V) intends to complete a non-brokered private placement consisting of up to 4,300,000 units at a price of $0.35 per unit for gross proceeds of up to $1,500,000. Each unit shall consist of one common share of Millrock and one share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share at a price of $0.50 for a period of two years from the closing date. Finder’s fees may become payable in connection with this private placement.
Proceeds from the financing will be used for staking and acquisition of gold projects in Alaska, reconnaissance surveys and claim maintenance costs, marketing to potential partners and general corporate purposes. The financing is subject to approval from the TSX Venture Exchange.
ABOUT MILLROCK RESOURCES INC.
Millrock is a TSX Venture Exchange listed Company intent upon the discovery of large, high value mineral deposits, with a focus on Alaska gold deposits and Arizona copper-gold porphyries. The Company follows a project generator/joint venture business model that capitalizes on Millrock's knowledge and ability in two outstanding mining jurisdictions. This model shares risk by partnering with other companies that invest capital to move exploration projects toward development and production. Millrock currently has eight active exploration projects in Alaska, and three in Arizona. Six of the projects are the subject of joint venture agreements in which other companies are making exploration expenditures to earn an interest in Millrock’s projects. Drilling is planned on at least four of the Company’s projects in 2010.
FOR FURTHER INFORMATION, PLEASE CONTACT
Gregory A. Beischer, President & CEO
Phone: (604) 638-3164
Toll Free: (877) 217-8978
Millrock Resources Inc.
750 World Trade Centre - 999 Canada Place
Vancouver, BC V6C 3E1
Canada
"NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE."