VANCOUVER, BRITISH COLUMBIA, August 11, 2010 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or the "Company") announces a private placement of C$1,000,000 to purchase 2,500,000 units at a price of $0.40 per unit. Each unit consists of one common share of Millrock and one share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.55 for a period of two years from the closing date. Finder's fees of 7% cash and 7% finder's warrants may be paid on a portion of the financing. The financing is subject to TSX-V approval.
The proceeds from this financing with a small group of long term strategic investors will be used to generate new exploration projects and provide funds for general corporate purposes.
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.
ON BEHALF OF THE BOARD "Gregory Beischer” Gregory Beischer, President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT: Gregory A. Beischer (604) 638-3164 Millrock Resources Inc. 750 World Trade Centre 999 Canada Place Vancouver, BC V6C 3E1
"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.”