Millrock Partner Felix Gold Begins Trading on the Australia Securities Exchange (ASX), Fairbanks Area Gold Projects, Alaska

VANCOUVER, BRITISH COLUMBIA, January 31, 2022 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) reports that Felix Gold has been accepted by the Australian Securities and Investments Commission and has commenced trading on the Australian Securities Exchange (“ASX”) under the trading symbol FXG. Millrock is being issued 9,957,157 Felix Gold shares that are subject to an escrow period of two years.

During the Initial Public Offering, Felix Gold raised in excess of AUD$10 million. Felix Gold will direct much of the capital raised to exploration of the mineral claims contributed by Millrock and/or staked or acquired by Felix Gold in the Fairbanks Mining District.

Millrock President and CEO Gregory Beischer commented: “This is great news for Millrock and its shareholders. Some excellent targets have been developed over the past year. With a strong treasury and a robust 2022 budget, Felix Gold will have a great chance to make new gold discoveries. Any exploration success should result in strong appreciation of the Felix Gold shares that Millrock holds, and this should be supportive of Millrock’s share price.”

As reported in a January 12, 2021 press release, Millrock assigned Felix all of its rights in the Fairbanks area Ester Dome and Treasure Creek properties, and the Liberty Bell project. Millrock had held these rights for several years under agreements with prospectors. The Fairbanks Mining District is located within the prolific Tintina Gold Province, which spans Alaska and Yukon. In return, Millrock has received share equity in Felix Gold, advance royalties, and production royalties.

Felix Gold indicates that it has secured a drill rig and plans an aggressive drilling campaign.

Figure 1. Plan View Map showing the location of the project within 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 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, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large 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, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn 

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, including drilling in 2022. 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 Partner Felix Gold Lodges Initial Public Offering Prospectus on the Australia Securities Exchange, Fairbanks Area Gold Projects, Alaska

VANCOUVER, BRITISH COLUMBIA, November 30, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to have received notice from Felix Gold that it has lodged a prospectus with the Australian Securities and Investments Commission. The filing initiates the process by which Felix Gold may become a publicly-traded company on the Australian Securities Exchange (“ASX”). If successful under the proposed schedule the company shares would begin trading in January 2022. Depending on the concurrent capital raise, Felix Gold would have between AUD$10 million and AUD$13 million in their treasury, with much of that funding to be directed to exploration of the mineral claims that have been contributed by Millrock and/or staked or acquired by Felix Gold in the Fairbanks Mining District. Upon successful IPO and capital raise, Millrock will be entitled to a payment of Felix Gold shares. It is anticipated that the ASX will impose a mandatory restriction on the disposal of these shares of up to two years. Readers are cautioned that the share payment will only be made if the IPO is successfully completed.

Millrock President and CEO Gregory Beischer commented: “This is great news for Millrock and its shareholders. Depending on the amount of money raised in the IPO, Millrock will receive Felix Gold shares with an initial value ranging between approximately US$1.7 million and US$1.9 million. Additionally, Millrock will be entitled to production royalties on all of the claims comprising the current extensive property position and on future claims that may be acquired within a large Area of Interest surrounding the Fairbanks Mining District. Millrock will be entitled to Advanced Minimum Royalty payments that begin January 2022. Some excellent targets have been developed over the past year, while Felix Gold was an unlisted company. With a strong treasury and a robust 2022 budget, Felix Gold will have a great chance to make new gold discoveries and expand the gold resource at the Grant Mine. Any exploration success should result in strong appreciation of the Felix Gold shares that Millrock will hold, and also should support Millrock’s share price.” 

As reported in a January 12, 2021 press release, Millrock assigned Felix all of its rights in the Fairbanks area Ester Dome and Treasure Creek properties. It had held these rights for several years under agreements with prospectors. The Fairbanks Mining District is located within the prolific Tintina Gold Province, which spans Alaska and Yukon.

 The Felix Gold prospectus indicates that (assuming the IPO and capital raise is successful) Millrock will be issued a minimum of 9,957,157 and a maximum of 11,442,384 Felix Gold shares at an IPO price of AUD$0.25 with an indicative initial value ranging between AUD$2,249,289 (CDN$2,047,389) and AUD$2,860,596 (CDN$2,603,491). The number of shares to be issued is dependent on the amount of capital raised. The shares will only be issued to Millrock if the IPO and capital raise is successfully completed. 

Since signing the initial agreements in January 2021, the Felix Gold team, working in collaboration with Millrock, significantly expanded the claim package, targeting areas that appeared to have high potential based on a systematic evaluation of public data and Millrock’s proprietary database. A large soil sampling effort was carried out in 2021. More than 3,000 soil samples were collected using power augers which allow for the collection of soil at the bedrock – overburden interface. Overlying overburden in the Fairbanks area often consists of very fine grained windblown sediments with or without permafrost making traditional soil geochemical surveys less effective. This work has served to identify strongly anomalous areas on the Treasure Creek project with three main prospects: NW Array, Scrafford, and Eastgate. The survey also identified strong anomalies at the Northeast Fairbanks portion of the project, which is proximal to Kinross’ Fort Knox gold mine, the satellite Gil deposit recently put into production by Kinross, and the Golden Summit / Cleary Hill deposit, which is being actively explored by Freegold Ventures Limited (TSXV: FVL) with strong success. 

Felix Gold has examined data from the former-producing Grant Mine upon which they have an option to purchase a 100% interest. As a result of the data analysis, Felix Gold has been able to calculate a gold resource that is compliant with the Australia Joint Ore Reserves Committee (“JORC”) standards that govern such calculations in Australia (source: INDEPENDENT GEOLOGIST’S REPORTS ON FELIX GOLD LIMITED’S MINERAL EXPLORATION PROJECTS IN ALASKA, Prepared by Independent Geologist Mr. Ian Taylor of Mining Associates Pty Ltd., October 15, 2021).

The independent geologist’s report is appended to the Felix Gold prospectus and reports the following:

• Inferred Mineral Resource estimate (JORC 2012) for Grant Mine of 5.8 million tonnes @ 1.95 grams per tonne gold for 364,000 ounces of contained gold including an underground resource of 136,000 ounces of gold grading 6.2 grams of gold per tonne.

• And also: Grant Mine Exploration Target (JORC 2012) of 5.6 million tonnes to 6.6 million tonnes at a grade of 1.9 grams per tonne gold to 2.1 grams per tonne gold for 338,000 to 545,000 ounces of gold (exclusive of the Mineral Resource).

Note: The NI43-101 standards are the standards to which Millrock must adhere as a TSX Venture Exchange issuer, and the Australia JORC standards are those to which Felix Gold must comply as an Australian issuer. The JORC standards are robust, similar and parallel to the NI43-101 standards. JORC (2012) is defined as an ‘acceptable foreign code’ under NI43-101 reporting standards and the definition and classification of Mineral Resources are essentially the same as the NI43-101 Canadian Institute of Mining Definition standards. The Millrock qualified person has not independently verified the drill hole data, drill core, and estimation methodology as reported by Felix.

Figure 1. Plan View Map showing the location of the project within the Tintina Gold Province.

Figure 2. Plan View Map of Felix Gold land holdings in relation to the City of Fairbanks, Kinross’ Fort Knox Mine and Gil satellite mine, and Freegold Ventures Golden Summit / Cleary Hill gold deposit.

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, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large 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, PolarX, Felix Gold and Tocvan.

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the successful completion of an IPO and capital raise by Felix Gold and the intention to mount further exploration including drilling in 2022. 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 Announces Option Agreement With Mine Discovery Fund For El Batamote Copper Project, Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA, November 8, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to announce it has signed a binding letter agreement (“Letter Agreement”) with Mine Discovery Fund Pty. Ltd. (“MDF”) concerning its El Batamote porphyry copper exploration project in Mexico. MDF is a private Australian company. In good faith, MDF has made an initial US$50,000 cash payment upon signing the Letter Agreement. A definitive agreement (“Definitive Agreement”) has been prepared will be signed immediately following the formation of a Mexico subsidiary company by MDF. MDF has placed Batamote into a wholly-owned subsidiary company called Latin America Copper Limited(“LatCopper”) along with other assets in Chile. MDF indicates it has commenced compliance documentation for a potential ASX or TSX listing in the first half of  2022.

Millrock President and CEO Gregory Beischer commented: “Batamote has excellent potential to discover a porphyry copper deposit. We know already that breccia-style and porphyry copper mineralization is present. We are particularly excited to drill-test beneath what appears to be a leach cap alteration zone at a prospect called El Choclo NW. The project is situated within a belt that has produced very large porphyry copper deposits being mined by others as evidenced by the Cananea and La Caridad mines”. 

Latin American Copper Director Joseph Webb commented: “With the addition of El Batamote, LatCopper has three exceptional cornerstone exploration assets with evidence of Tier 1 scale potential in the globally significant copper belts of Latin America. El Batamote is 25 kilometers northwest of Grupo Mexico’s La Caridad copper mine (5.98 billion tonnes at 0.34% copper equivalent) with an untested leach cap identified along strike from known mineralisation. This indicates potential for supergene mineralisation at Choclo. The Bata Sur definitive mineralised porphyry system intersected by historic drilling remains open along strike”.

Under the terms of the Definitive Agreement, LatCopper will have the option to purchase a 100% interest in the concessions that underlie the Batamote copper project. To earn the interest, LatCopper will have to make cash payments totalling US$1,000,000 over five years, execute US$6,000,000 dollars in exploration work, and pay Millrock US$250,000 in shares when LatCopper becomes a publicly listed company. In the event that LatCopper exercises the option to purchase the Batamote project, annual advanced minimum royalty (“AMR”) payments will be triggered. The first payment will be US$50,000 and the payment will increase by US$50,000 each year until a cap of US$500,000 is reached. Annual payments will then remain at the capped level until a mine reaches commercial production. At that point, a Net Smelter Return production royalty of 1.0% will be triggered. Any AMR payments made by LatCopper can be credited against production royalty payments.

About the El Batamote Project

 The project is located 100 kilometers south of the Sonora – Arizona border and 140 kilometers north of the mining hub of Hermosillo in northeastern Sonora State, Mexico. The project is fully accessible by road and covers nearly 4,000 hectares. Millrock previously purchased the concessions and historical exploration data from a subsidiary of Teck Resources Ltd., as announced by Millrock in a November 2015 press release. The project is situated within the Cananea-La Caridad Copper Porphyry belt (Figure 1). This district-scale structural trend is situated within the larger North American porphyry copper province containing over 20 copper-molybdenum deposits and mines in Arizona, New Mexico, and Sonora.

Figure 1. Project Location Map

El Batamote contains alteration and geochemistry characteristics of a Cu-Mo porphyry system.  Important historical work has been conducted on the property by large companies such as Phelps Dodge, BHP, Noranda, Peñoles, and Teck. Abundant information was generated by prior workings in the south and central part of the claim block and includes regional and semi-detail mapping, geochemistry, petrography, spectrometry, geophysics, and drilling with more than 10,000 meters of diamond core having been drilled. 

The exploration led to the discovery of several key prospects: Bata Sur, El Choclo NW, and El Choclo West (Figure 2). Review of the historic data has led Millrock geologists to make new exploration observations, conclusions, and recommendations. Preliminary plans include geophysical surveys at El Choclo NW, where a possible leach cap is situated adjacent to known porphyry mineralization. No drilling has been done beneath the alteration zone. At the Bata Sur prospect, breccia pipe style mineralization has been intersected by prior drilling. Drilling is recommended to test for higher grade and to test previously untested geochemical anomalies. Millrock has drilling permits in hand.

Figure 2. Prospect Location Map

The lithology and alteration at Batamote are similar to that found at the La Caridad and Cananea mines. The mining concession covers Late Cretaceous Laramide age intermediate composition volcanic sequences which are intruded by a large, multi-phase batholith with multiple, mineralized porphyry pulses along a northwest-trending structural corridor. Porphyry dikes cut the system and are followed by later, mid-Tertiary post-mineral tuffaceous rocks, all of which are cut by long-lived northeast-trending and north-south fault structures. Intermediate volcanic rocks are the main host to copper mineralization. These rocks contain strong hydrothermal alteration related to porphyry-type systems in a three-kilometer by six-kilometer area that on the west side, is truncated by north-west to north-south trending post-mineral faults. Quaternary gravels cover bedrock west of these faults, but porphyry mineralization may be concealed below as potentially indicated by geophysical surveys at Choclo W.

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, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large 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, Coeur  Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers Resolution, Riverside, PolarX, Felix Gold, Tocvan, and now Mine Discovery Fund.

About Mine Discovery Fund
Mine Discovery Fund (MDF) is a private investment vehicle backed by some of the industry’s leading technical advisors and professional mining investors. MDF focus is on Tier 1 orebody discovery in the jurisdictions that provide the highest probability of exploration success (in the most fertile Tier 1 Belts and in areas with clear pathways for development potential.

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

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 including drilling in 2021 and 2022, and the intention to enter a definitive agreement with Mine Discovery Fund. 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 Announces Definitive Assignment Agreement with Tocvan Ventures for El Picacho Gold Project, Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA, September 20, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to announce it has signed a definitive assignment agreement (“Assignment Agreement”) with Tocvan Ventures Corp. (CSE: “TOC”) (“Tocvan”) concerning the El Picacho gold project (“Project”) in the Caborca Orogenic Belt, Sonora State, Mexico. This agreement follows from a Letter of Commitment previously announced on June 8, 2021 and successful completion of a 60-day due diligence period by Tocvan.

Millrock has reinstated a previously held Option Agreement (“Option Agreement”) with concession owners Suarez Brothers and has now assigned the option rights and obligations to Tocvan. In return, Tocvan has paid back taxes owed by the Suarez Brothers on the mineral concessions and has granted to Millrock certain royalty rights in the Assignment Agreement. In the event that Tocvan exercises its option to purchase a 100% interest from the Suarez brothers, Millrock will vest with a 2% Net Smelter Returns (“NSR”) royalty. Tocvan may purchase back 1% of the royalty for US$1.0 million. The royalty contains a provision for an Annual Advance Minimum Royalty ("AMR") that will be triggered if Tocvan exercises the Option Agreement. The initial AMR payment to Millrock would be US$25,000. The amount of the AMR will double each year until commercial production occurs. Any AMR payments made can be deducted from NSR royalty payments.

Millrock President and CEO Gregory Beischer commented: “El Picacho has great exploration potential for large-tonnage, bulk minable gold deposits, and higher-grade, vein-hosted deposits. We had previously dropped our option on the Project, but it was readily reinstated. In turn, we are very pleased to assign our rights to Tocvan in exchange for royalty interests that may begin cash flowing in a relatively short time period. Further, in the event that Tocvan does not complete the underlying option with the concession owners, the option rights will be returned to Millrock. Each of these royalty agreements that Millrock makes is accretive to the overall value of the company. Millrock’s Hermosillo-based staff have extensive knowledge of the Project and have offered exploration services to Tocvan.”

The Project is located 140 kilometers north of Hermosillo in Sonora, Mexico and is fully accessible by road. Extensive surface exploration has been conducted historically, defining five gold targets on the Project. Millrock and Tocvan believe these targets will be ready for drill testing with surface confirmation via trenching. A permit is currently active to allow for trenching and drilling on the Project.

About El Picacho

Location and Infrastructure

• Total Area: 2,413.7 ha

• Road accessible, 140 km north-northwest of Hermosillo

• Excellent Road access

• Railroad on eastern edge of Project

• 18 km southwest of San Francisco Mine.

Historic Work Summary

• Five Orogenic Gold Targets defined (see Figure 2)

  • San Ramon

  • Tortuga

  • El Peurto,

  • La Cornea

  • El Jabali

• 2,650 rock samples collected

• Regional Scale mapping completed

• 3,548 soil samples collected, covering Project Area

• 70% of area covered by ground magnetic survey

• 17.8 line-km of IP surveys

• Limited drilling completed, widely spaced

• Fully permitted for drilling and trenching 

Terms of Option Agreement
Upon assignment of the Option Agreement held by Millrock to Tocvan, Tocvan must make cash payments of $1,989,600USD to the underlying concession owners (the Suarez brothers) over a five-year term to acquire 100% interest in the Project. In the event that Tocvan elects to withdraw from the Option Agreement, it must return the option rights to Millrock.

Figure 1. Location of El Picacho Project within the Caborca Orogenic Gold Belt

Figure 2. Plan View Map of Target Areas at El Picacho

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, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large 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, PolarX, Felix Gold, and Tocvan. 

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn 

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 including drilling in 2021, and the intention to enter a lease agreement with Fairbanks Exploration, Inc. 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 Enters Into Exploration Agreement Concerning Apex Gold Project, Southeast Alaska

Highlights

• Millrock has executed an agreement with Coeur Explorations, Inc., a wholly-owned subsidiary of Coeur Mining, Inc. concerning claims controlled by Millrock at the Apex gold project, located approximately 70 kilometers from Juneau in Southeast Alaska.

• Coeur Explorations may exercise an option to earn a 100% interest in the claims through staged payments and exploration expenditures.

• Upon earning 100% interest, a Net Smelter Returns royalty with an advanced minimum royalty provision and buyback option will be granted to Millrock.

• Initial exploration is underway; drill permits have been approved.

VANCOUVER, BRITISH COLUMBIA, August 12, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to announce that it has entered into an agreement with Coeur Explorations, Inc., a wholly-owned subsidiary of Coeur Mining, Inc. (“Coeur”), concerning the Apex gold project in Southeast Alaska. The project is located on Chichagoff Island, three kilometers north of the village of Pelican and 70 kilometers southwest of Juneau, Alaska.

 Millrock President & CEO Gregory Beischer commented: “We are pleased to enter into this agreement with Coeur Explorations and will work diligently with their exploration team to explore the claims. From historic documents, we know that high-grade gold ore was previously mined, but there has never been a single exploratory hole drilled. It seems likely that the known high-grade gold-bearing quartz veins will continue along strike and in the down-dip direction. The claims have been completely dormant since the 1980s. We’ll start with surface geochemical sampling and detailed structural mapping this year and look to drill in 2022.” 

The Apex project targets high-grade, mesothermal, gold-bearing quartz vein deposits. The claims cover the former-producing Apex and El Nido gold mines which operated intermittently from the 1920s through to the 1940s and reportedly produced approximately 34,000 ounces of gold by underground mining methods. Nearly 1,200 meters of workings on four levels were used to extract ore (United States Geological Survey Alaska Resource Data File). Ore was hand-cobbed and milled on site. Surface exploration was done by WGM Inc. in the 1980s, but no drilling was done and the property has been dormant since. Millrock secured an option on the core claim group in 2016 from Apex El Nido Gold Mines Inc. Subsequently, Millrock staked surrounding lands, compiled information, and secured drilling permits. At surface, above the caved portal to the Apex Mine, a swarm of quartz veins can be observed over a width of more than 200 meters. Within the swarm, four thicker veins were the subject of the historic mining efforts. Geological and geochemical features suggest the vein system has continuity along strike to the northeast beneath Cann Creek, toward the tidewater of Lisianski Inlet, two kilometers away. The gold-bearing vein system has never been drill tested along strike or below the historic workings.

Figure 1. Apex Gold Project Location Map

Under the agreement, Millrock will assign its rights under the existing option agreement with Apex El Nido Gold Mines to Coeur Explorations. Coeur Explorations will be responsible for making cash payments and funding exploration expenditures to keep the option agreement with Apex El Nido Gold Mines in good standing. Millrock will execute exploration under a services agreement on behalf of Coeur. Coeur Explorations may determine not to proceed to exercise the option at any time, but if it makes all the payments and expenditures, it will vest with a 100% interest in the underlying claims. Upon exercising the option to purchase the Apex El Nido Gold Mine claims, Millrock will also transfer the claims it owns outright to Coeur Explorations, and the entire project will become subject to a net smelter returns (“NSR”) royalty in favour of Millrock. The royalty payable is a 2.5% NSR with an advanced minimum royalty (“AMR”) provision. Coeur Explorations may reduce the NSR to 1.0% by paying Millrock US$3.0 million. The initial AMR payment will be US$50,000 and will increase by US$50,000 annually until production occurs.  AMR payments are deductible from NSR payments. The property will revert to Millrock in the event that Coeur elects to discontinue AMR payments.

Typical of Southeast Alaska, the terrain is steep and challenging, as pictured in Figure 2. The former producing Apex and El Nido mine entries are at tree level, approximately 360 meters above sea level. A soil sampling crew has been mobilized to the project and is presently working out of accommodations in Pelican, using boat access. The goal of the program is to trace the mineralized structure and refine vein locations in anticipation of a 2022 drilling program.

Figure 2. Apex Gold Project Terrain

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, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large 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: Coeur Explorations, EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers Resolution, Riverside, PolarX, and Felix Gold.

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

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 including drilling in 2022. 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 Provides Exploration Update For Alaska Gold Projects

Highlights

Resolution Minerals Partnership – 64North Gold Project.

• Resolution Minerals reported that it had received assay results from a recently completed, shallow, reverse circulation drilling program conducted at prospects within the East Pogo block of the 64North Gold Project near Pogo Mine.

• No significant gold intersections were realized, but Resolution Minerals reports strong gold pathfinder element signatures in a target area measuring 1,600 meters by 2000 meters.

• Resolution states that pathfinder results from drill hole 21EP008 indicate potential for gold at depth and that a follow-up deeper drilling program is warranted.

Felix Gold Partnership

• Major soil sampling program continues: 2,000 samples collected to date.

• Drill plans are being formulated.

VANCOUVER, BRITISH COLUMBIA, August 5, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on its exploration activities at its Goodpaster and Fairbanks gold district projects (Figure 1). 

Figure 1. Millrock gold project locations within the Tintina Gold Province, Alaska.

Goodpaster District Projects

Millrock owns a 70% interest in a very large claim block surrounding the Pogo Mine in Alaska. Pogo is a high-grade gold mine operated by Northern Star Resources Ltd. The 64North claims, which are subdivided into eight different blocks, are the subject of an option agreement with Resolution Minerals Ltd (ASX: RML, “Resolution”). Recently, a 30% interest was earned by Resolution by virtue of exploration expenditures plus cash and share payments made to Millrock in the first year of the project.

64North Gold Project – East Pogo block: Millrock partner Resolution has recently completed a drilling program at gold prospects located on the East Pogo block (Figure 2). A reverse circulation drill was used to test shallow, gently-dipping conductive zones detected in 2020 by ZTEM and CSAMT geophysical surveys. A total of 1,663 meters was drilled over 12 holes. Gently-dipping altered, graphitic zones with quartz and sulfides were reported in several holes. Assay results indicate only anomalous gold values. However, gold pathfinder elements detected indicate possible proximity to a gold-bearing vein system. At the nearby Pogo Mine, rocks close to the gold-bearing veins are enriched in the pathfinder elements bismuth, tellurium, sulfur, and arsenic. From the recent drilling at East Pogo, Resolution has identified a target area measuring 1,600 meters by 2,000 meters for follow-up, with a CSAMT conductive zone beneath. Drill hole 21EP008 intersected sericite and biotite alteration including minor quartz veining with strongly elevated geochemical pathfinder elements. The hole had a trend of increasing gold and alteration intensity over the last 50 meters drilled with sericite alteration present in the last few meters. This signifies potential for gold mineralization at greater depth, perhaps at the level of the CSAMT conductor. The hole unfortunately had to be terminated prior to reaching target depth. Resolution indicates it is considering drilling deeper with a core rig to test the CSAMT target below the geochemical anomaly detected through the shallow reverse circulation drilling program (Figure 3).

Figure 2. Reverse circulation drill rig in operation on the East Pogo block, 64North Gold Project,

Figure 3. CSAMT Line 2 Cross Section on the East Pogo block, 64North Gold Project, Goodpaster District, Alaska.

Fairbanks Gold District Projects

Millrock is in a strategic alliance agreement with Felix Gold Ltd. (“Felix Gold”), a private Australian company that intends to become a public company listed on the Australia Stock Exchange (“ASX”). Millrock is assigning its existing mineral rights in return for Felix Gold shares and royalty interests. Felix Gold is funding exploration work and paying the costs of acquiring claims by staking and by agreements with claim holders. All new properties within the strategic alliance Area of Interest become subject to royalties in favor of Millrock (Figure 4).

Figure 4. Blue shading indicates Millrock / Felix Gold mineral land holdings in the Fairbanks Gold District, Alaska.

A major soil sampling program is well underway. To date, 2,000 soil samples have been collected across the claim holdings. The planned work will be completed at the end of August. Samples are being collected using a small auger Figure 5). The goal is to get uniform, modern soil sample coverage across the claims. Once the soil data is merged with all historic data which has been compiled in a database, drill targeting will be done.

Figure 5. Soil sampling team in action, Fairbanks Gold District, Alaska.

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, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large 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, PolarX, and Felix Gold.

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

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 including drilling in 2021. 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 Provides Exploration Update For Alaska Gold Projects

Highlights

Felix Gold Partnership

• Significant expansion to royalty interests in Fairbanks Gold District.

• Grant Mine (a portion of the Ester Dome Project) gold resource evaluation in progress.

• Permits received for drilling at Ester Dome project, Fairbanks Gold District, Alaska.

• Major soil geochemical surveys underway at Treasure Creek project.

Resolution Minerals Partnership

• Drilling program recently completed at 64North Gold Project near Pogo Mine, Goodpaster District. Quartz veins reported.

VANCOUVER, BRITISH COLUMBIA, June 7, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on its exploration activities at its Fairbanks and Goodpaster gold district projects in Alaska.

Figure 1. Millrock gold project locations within the Tintina Gold Province, Alaska.

Fairbanks Gold District Projects

Millrock is in a strategic alliance agreement with Felix Gold Ltd., (“Felix Gold”), a private Australian company that intends to become a public company listed on the Australia Stock Exchange (“ASX”). Millrock is assigning its existing mineral rights in return for Felix Gold shares and royalty interests. Felix Gold is funding exploration work and paying the costs of acquiring claims by staking and by agreements with claim holders. All new properties within the strategic alliance Area of Interest become subject to royalties in favor of Millrock.

Recently, agreements concerning two large claim blocks held by third parties have been executed. The properties are 1) the GST claim block held by Fairbanks Exploration, Inc. (“FEI”), and the Bank Project Vault and Treasury claim blocks owned by DG Resources. The agreements significantly expand the area upon which Millrock will be entitled to royalty interests as shown in Figure 2.

Figure 2. Blue shading indicates Millrock / Felix Gold mineral land holdings in the Fairbanks Gold District, Alaska.

GST Claim Block: A formal lease agreement was entered into with Fairbanks Exploration, Inc. concerning the GST claim block. This follows on a previously announced letter of intent to enter the lease. Pursuant to the strategic alliance between Millrock and Felix Gold, the lease will be assigned to Felix Gold. Millrock will vest with a 1.0% net smelter return royalty in the event a mine is put into production. Located approximately 40 kilometers northeast of Fairbanks, the property hosts a number of interesting gold occurrences. The property appears to cover the eastern strike extent of geological structures that Millrock and Felix Gold believe control gold mineralization on the neighbouring Golden Summit project held by Freegold Ventures Ltd. (“Freegold”). Recently, Freegold has announced outstanding drill intersections on their property. Surface exploration is planned for 2021 so drill targets can be developed for testing in 2022.

Treasury and Vault Claim Blocks (Bank Project): An Option to Purchase agreement was executed between Felix Gold and DG Resources. Millrock will vest with a 1.0% net smelter return royalty in the event a mine is put into production on these claims. As with the GST claim block, the property hosts a number of interesting gold occurrences and neighbours Freegold’s Golden Summit project. Soil sampling and prospecting is planned for 2021 with the goal of developing drill targets for 2022 testing.

Millrock President and CEO Gregory Beischer commented: “The exploration season is in full swing in Alaska. Our funding partners are mounting very significant campaigns that could result in new gold discoveries in the emerging Fairbanks and Goodpaster gold districts. We are pleased with the addition of new royalty rights to our growing portfolio.”

Treasure Creek Project: A major soil sampling program is underway. Approximately 2,000 soil samples are being collected to further delineate drill targets at the NW Array, Big Birch, Old Dog, and Pipeline prospects. Drilling is being considered for later in 2021.

Ester Dome Project, Grant Mine: As previously announced, Millrock acquired an option to purchase a 100% interest in the Grant Mine – a former-producing gold mine located on Ester Dome. Felix Gold has elected, in accordance with the agreement concerning the Ester Dome project, that Millrock assign its option rights to Felix Gold. In return, Millrock will be entitled to a 1.5% net smelter return royalty with an advanced minimum royalty payment stream that initiates upon exercise of the option to purchase the mine from the underlying owner. All historic data has been imported into a database and is being evaluated using 3D visualization software. The Felix Gold portion of the joint exploration team is evaluating the historic, previously-reported Indicated + Inferred resource estimate of 340,800 ounces of gold to determine what, if anything, needs to be done to bring the estimate of gold resources up to date and compliant with the Australian Joint Ore Resources Commission (“JORC”) standards for resource calculations. The most recent resource estimate of the Grant Mine indicated 340,800 Indicated + Inferred gold ounces, as per the SEDAR-filed document called Bundtzen T.K., 2008, Ester Dome Mineral Resource Estimation and Eagle Creek Exploration Results, Fairbanks Mining District, Alaska, July 31st, 2008, 117 pages. Millrock is treating this as a historic resource estimate.

Goodpaster District Projects

Millrock owns a 70% interest in a very large claim block surrounding the Pogo Mine in Alaska. Pogo is a high-grade gold mine operated by Northern Star Resources Ltd. The 64North claims, which are subdivided into eight different blocks, are the subject of an option agreement with Resolution Minerals Ltd. (ASX: RML, “Resolution”). A 30% interest was recently earned by Resolution by virtue of exploration expenditures plus cash and share payments made to Millrock in the project’s first year.

64North Gold Project – East Pogo Block: Millrock partner Resolution has very recently completed a drilling program at gold prospects located on the East Pogo block. A reverse circulation drill was used to test shallow, gently-dipping conductive zones detected in 2020 by ZTEM and CSAMT geophysical surveys. A total of 1,663 meters was drilled in 12 holes. Gently-dipping altered, graphitic zones with quartz and sulfides were reported. Assay results for gold are expected in August 2021. Resolution further reported in a recent press release that results of drilling at the Sunrise prospect are being evaluated with further drilling being considered here.

Figure 3. Reverse circulation drill rig in operation on the East Pogo block, 64North Gold Project, Goodpaster District, Alaska.

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, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large 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, PolarX, and Felix Gold.

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

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 including drilling in 2021. 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 Announces Agreement with Tocvan Ventures for El Picacho Project, Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA, June 8, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to announce it has signed a Letter of Commitment with Tocvan Ventures Corp. (CSE: “TOC”) (“Tocvan”) in relation to the El Picacho gold project in the Caborca Orogenic Belt, Sonora State, Mexico. Under the Letter of Commitment, Millrock will reinstate a previously held Option Agreement (“Option Agreement”) with concession owners Suarez Brothers, and assign the option rights and obligations to Tocvan. In return, Tocvan will pay back taxes owing on the mineral concessions and grant Millrock certain royalty rights in an assignment agreement (“Assignment Agreement”).

The Project is located 140 kilometers north of Hermosillo in Sonora, Mexico and is fully accessible by road. Extensive surface exploration has been conducted historically defining five gold targets on the project. Millrock and Tocvan believe these targets will be ready for drill testing with surface confirmation via trenching. A permit is currently active to allow for trenching and drilling on the Project.  Prior to signing the definitive Assignment Agreement between Millrock and Tocvan, the transaction is subject to an additional 60-day due diligence period effective June 7, 2021.

About El Picacho

Location and Infrastructure

• Total Area: 2,413.7 ha

• Road accessible, 140 km north-northwest of Hermosillo

• Excellent Road access. Railroad on eastern edge of Project

• 18 km southwest of San Francisco Mine.

Historic Work Summary

• Five Orogenic Gold Targets Defined: San Ramon, Tortuga, El Peurto, La Cornea, and El Jabali (see Figure 2)

• 2,650 rock samples collected

• Regional Scale mapping completed

• 3,548 soil samples collected, covering Project Area

• 70% of area covered by ground magnetic survey

• 17.8 line-km of IP surveys

• Limited drilling completed, widely spaced

• Fully permitted for drilling and trenching

Millrock President and CEO Gregory Beischer commented: “El Picacho has great exploration potential for large-tonnage, bulk minable gold deposits, and higher-grade, vein-hosted deposits. We had previously dropped our option on the project, but it was readily reinstated. In turn, we are very pleased to assign our rights to Tocvan in exchange for royalty interests that may begin cash flowing in a relatively short time period. Further, in the event that Tocvan does not complete the underlying option with the concession owners, the option rights will be returned to Millrock.”

Terms of Option Agreement

Upon assignment of the Option Agreement held by Millrock to Tocvan, Tocvan must make cash payments of $1,989,600 USD to the underlying concession owners (the Suarez brothers) over a five-year term to acquire 100% interest in the project. In the event that Tocvan elects to withdraw from the Option Agreement, it must return the option rights to Millrock. 

Terms of Assignment Agreement

In the event that Tocvan exercises its option to purchase a 100% interest from the Suarez brothers, Millrock will vest with a 2% NSR royalty. Tocvan may purchase back 1% for US$1.0 million. The royalty contains a provision for an Annual Advance Minimum Royalty (“AMR”). The initial AMR payment to Millrock would be US$25,000. The amount of the AMR will double each year until commercial production occurs. Any AMR payments made can be deducted from NDR royalty payments.

Figure 1. Location of El Picacho Project within the Caborca Orogenic Gold Belt

Figure 2. Plan View Map of Target Areas at El Picacho.

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and 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, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large 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, PolarX, and Felix Gold. 

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

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 including drilling in 2021 and the intention to enter a lease agreement with Fairbanks Exploration, Inc. 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 Partner Resolution Minerals Reports Drilling Results at Sunrise Prospect, 64North Gold Project, Alaska

VANCOUVER, BRITISH COLUMBIA, May 18, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to announce that partner Resolution Minerals Ltd. (ASX: RML) has reported that thick intervals of intrusion-hosted gold mineralization have been intersected at the Sunrise prospect, 64North gold project. The intervals were intersected in a recent rotary air blast (RAB) drill program that was carried out at the project.

In total, Resolution drilled 27 holes along a fence 1,400 meters in length. The style of mineralization is similar to that observed at the Fort Knox gold mine operated by Kinross near Fairbanks, Alaska. Drilling detected gold over a 280-meter-wide corridor which is open at depth and to the north and south. The host granite intrusion is interpreted to extend more than one kilometer to the south of the recently completed RAB drilling. The gold mineralization is contained within a large gold-in-soil anomaly. The Sunrise prospect is located approximately four kilometers southwest of the Pogo Mine, which is operated by Northern Star Resources Limited.

Drill result highlights include:
Hole 21SU007
36.6 meters at 0.33 g/t gold from surface, including:

• 1.5 meters at 1.42 g/t gold from 1.5 meters depth, and

• 1.5 meters at 2.60 g/t gold from 9.1 meters depth.

Hole 21SU009
74.7 meters at 0.26 g/t gold from surface over the entire length of the hole, including:

• 1.5 meters at 1.77 g/t gold from 12.2 meters depth, and

• 1.5 meters at 1.02 g/t gold from 48.4 meters.

Of the 27 holes drilled, nine holes intersected gold mineralization grading above a cut-off grade of 0.1 g/t gold over significant intervals. The drill results indicate a mineralized corridor 280 meters in length. There is a strong association of bismuth and arsenic with gold-mineralized rock. This is the same metal association observed at Kinross’ Fort Knox gold mine. A complete listing of results is shown in Table 1A.

Resolution also reports that other potential Fort Knox style intrusive targets have been recognized near the Pogo Mine road, proximal to the Sunrise Prospect. The company plans to make a ground appraisal of the Sunrise Prospect and surrounding prospects in late May. Further drilling and geophysics are under consideration.

Resolution is also planning a 2,000 meter reverse circulation helicopter-supported drilling program on the East Pogo Prospect. The drilling is scheduled to commence in early June. High-grade gold mineralization identified last year during surface work is to be targeted.

Table 1A:
Summary of drill intervals from March-April 2021 drilling at the Sunrise prospect.

Table 1B: Drill collar locations for Sunrise prospect drilling.

Notes for Tables 1A and 1B:

1. An accurate dip and strike and the controls on mineralisation are yet to be determined and the true width of the intercepts is not yet known.

2. Coordinates are in NAD83, Zone 6.

3. Elevation and Hole Depth are in metres.

4. Azimuth is in Degrees Grid North.

5. Dip is in degrees.

6. Abbreviations: g/t (grams per tonne), ppm (parts per million), ppb (parts per billion), NSI (no significant intercept)

7. All drilling is 3 and 5/8“ diameter RAB chip drilling, all of hole is sampled.

8. Significant results are shown for intercepts >0.1g/t Au with no more than 3.048m (10 feet) of internal dilution.

QUALIFIED PERSON:
The drill results provided in this disclosure were compiled by Mr. Duncan Chessell, Managing Director of RML. Mr. Chessell is a member of the Australasian Institute of Mining and Metallurgy and is a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

Millrock’s Qualified Person (as defined in NI43-101) Gregory A. Beischer, President, CEO and a director of Millrock Resources has reviewed the information provided by Mr. Chessell including assay results, composite interval calculations and the quality assurance / quality control measures taken by RML. The technical information presented within this press release has been reviewed and approved by Mr. Beischer.

QUALITY CONTROL AND QUALITY ASSURANCE (QAQC):
Drilling, sampling, sample handling, and assay methods and assay quality monitoring utilized by RML for this program are described in detail in their May 17, 2021 press release. In the opinion of Millrock’s Qualified Person, the QA/QC methods, which included insertion of 9% Certified Reference Materials was appropriate. Standards and blanks were also inserted. No abnormalities were reported by RML upon review of the QA/QC data.

ABOUT MILLROCK RESOURCES:
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 owns a large 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, PolarX, and Felix Gold.

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

FOR FURTHER INFORMATION PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn
mhenderson@millrockresources.com

FORWARD LOOKING STATEMENTS:
Some statements in this news release contain forward-looking information, including without limitation, statements such as the intention to do surface exploration work including reverse circulation drilling in May and June of 2021. 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.

"NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE."

Millrock Provides Exploration Update on 64North Gold Project, Alaska

Highlights:

• Millrock partner Resolution Minerals has completed a rotary air blast drilling program at the Sunrise prospect, West Pogo block, 64North gold project, Alaska.

• Drilling targeted intrusion-hosted disseminated gold mineralization exposed in a road cut located approximately four kilometers southwest of the Pogo Mine operated by Northern Star Resource Ltd. Results from drilling are expected in May.

• Resolution indicates it intends to do drilling on the East Pogo block of 64North in summer 2021 using a heliportable reverse-circulation drill rig.

Figure 1: Rotary Air Blast drill rig in action at the Sunrise prospect, West pogo block, 64North gold project, Alaska.

VANCOUVER, BRITISH COLUMBIA, April 20, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) notes that Resolution Minerals Inc. (ASX: RML) (“Resolution) has completed a drilling program at the jointly owned 64North gold project, Alaska. The program completion was announced by Resolution in an April 15, 2021 press release. A total of 27 holes were completed in a fence measuring 1,400 meters. The holes were drilled from the drill trail leading from the Pogo Mine road to the Aurora prospect located to the west of the Pogo Mine. Holes ranged between 45 and 75 meters in depth. The drill holes were designed to test beneath anomalous surface rock samples collected along the road cut in 2020. The sampling work had indicated highly anomalous gold values over 137 meters. The Sunrise prospect is located approximately 4.5 kilometers southwest of the Pogo Mine.

Resolution has also indicated its intention to start another drilling program in early summer 2021 on the East Pogo block utilizing a heliportable reverse circulation drill rig. The program will  target geophysical / geochemical anomalies and surface gold occurrences.

The 64North Project surrounds the Pogo Gold Mine owned by Northern Star Resource Ltd. (ASX: NST), and is located approximately 120 kilometers from Fairbanks, Alaska in the Tintina Gold Province. The two main styles of mineralisation being targeted in this region are the high-grade Pogo style and the large-scale, but low-grade Fort Knox style deposits. These styles are typical for the Tintina Gold Province, which hosts over 100 million ounces of gold endowment. Resolution has earned a 30% interest in the 64North gold project, and is on track to increase its ownership to 42% by virtue of the recently completed and upcoming drill programs. Millrock receives cash and Resolution share payments in accordance with the option agreement made between Millrock and Resolution in late 2019.

Figure 2: Location Map – Goodpaster Mining District and 64North Gold Project Location within the Tintina Gold Province, Alaska.

Figure 3: Location Map – 64North Claim Block (blue) in relation to Northern Star’s Pogo Mine property (green).

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 owns a large 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, PolarX, and Felix Gold. 

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

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 including drilling in 2021. 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 Acquires Property Interests and Provides Exploration Update on Fairbanks, Alaska Gold Projects

Highlights

• Millrock has signed an option to purchase a 100% interest in the former producing Grant Mine near Fairbanks, Alaska. The Grant Mine is a high-grade vein deposit with expansion potential. Indicated and Inferred Resources have been estimated at 340,800 ounces of gold. Strategic partner Felix Gold may elect to assume the option in exchange for a royalty interest in favour of Millrock.

• Millrock signed a letter of intent to enter a lease agreement with option to purchase a 100% interest concerning the GST claim blocks with Fairbanks Exploration, Inc. The claims cover favourable geological structures adjacent to Freegold’s Golden Summit project northeast of Fairbanks, near Kinross’ Fort Knox gold mine. Felix Gold may be assigned the lease and purchase option in exchange for a royalty interest.

• Partner Felix Gold has appointed David Larimer as Vice-President of Exploration. Mr Larimer will head a joint Felix Gold – Millrock exploration team. Mr. Larimer was formerly Chief Geologist at the Pogo Mine, Principal Geologist for Teck Resources Ltd., and is a University of Alaska, Fairbanks alumnus.

• Millrock and Felix Gold have amended the Strategic Alliance agreement between the two companies announced on January 12, 2021. The amendment provides a framework for share payments to Millrock in the event that Felix Gold does not become a publicly traded company in the next 18 months.

• Landholdings in the Fairbanks Gold District now cover approximately 24,000 hectares of high potential ground covering numerous prospects.

• Exploration plans for the 2021 field season are being finalized. Drilling is being planned with an initial focus on extensions of the Grant Mine and the Northwest Array prospect on the Treasure Creek project.

VANCOUVER, BRITISH COLUMBIA, April 13, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is providing an update on its partner-funded activities in the Fairbanks Mining District, Alaska with partner Felix Gold (a private Australian company).

Figure 1: Tintina Gold Province in yellow shading. Millrock projects subject to agreement with Felix Gold are shown in red text.

Grant Mine Option To Purchase Agreement

Millrock has entered an option to purchase agreement concerning the Grant Mine with owner Roger Burggraf. Consideration is US$2.0 million to be paid over a six-year period. The new property will form part of the larger Ester Dome exploration project, which is subject to an agreement between Millrock and partner Felix Gold. Felix has paid the costs to secure the Grant Mine claims and can, at any time in the next twelve months, elect to assume the option agreement rights. In the event that Felix Gold assumes the option rights and proceeds to make the purchase of the Grant Mine, Millrock will vest with a 1.5% Net Smelter Return royalty on gold production with an advanced minimum royalty provision. The Grant Mine is a former-producing gold mine reported to have produced approximately 25,000 ounces of gold. Production reports and estimates of unmined gold resources have been made by a third-party independent geologist in a Ni43-101 report (Bundtzen T.K., 2008, Ester Dome Mineral Resource Estimation and Eagle Creek Exploration Results, Fairbanks Mining District, Alaska, July 31st, 2008, 117 pages).

 Table 17.1 of the aforementioned report is presented below and shows combined Indicated and Inferred resources of 340,800 ounces of gold.

Table 17.1: Bundtzen 2008 NI43-101 report prepared for Silverado Gold Mines Ltd.

Figure 2: Photo of the decommissioned Grant Mine headframe (left) and core storage warehouse at Grant Mine (right). Drill core from Grant Mine, other parts of the Ester Dome project, and the Treasure Creek project have all been preserved here.

Plans are being made to do an initial round of drilling in Summer 2021. The longitudinal section presented in Figure 3 illustrates the historic mine workings and drill intersections obtained in the 1990s by operators American Copper & Nickel (“ACNC”) and Silverado Gold Mines.

No exploration work has been carried out since the 1990s. Millrock has not independently verified the drill intersections indicated on Figure 3.

Figure 3: Longitudinal section illustrating drill intersections from ACNC and Silverado exploration drilling in the 1990s. Millrock has not independently verified the historic drill intersections reported on this figure which is taken from Bundtzen 2008.

Figure 4: Claims owned and controlled by Millrock that have been assigned to Felix Gold in exchange for equity and royalty interests are shown in blue. Note the location of Kinross’ Fort Knox mine and Freegold’s Golden Summit project.

Fairbanks District Exploration Team

Felix Gold and Millrock are building an outstanding exploration team that is mandated to aggressively explore the Fairbanks Mining District and make new gold deposit discoveries. Felix Gold has appointed David Larimer to Vice-President of Exploration. Mr. Larimer will lead a team of Millrock geologists and technical staff, as well as coordinate amongst local and global experts to maximize the chances of discovery success. Prior to joining Felix Gold, Mr. Larimer was Principal Geologist in charge of exploration for Teck’s Red Dog zinc mine in northwestern Alaska, and Chief Geologist for the Pogo Mine during the time it was owned by Sumitomo Metal Mining. Mr. Larimer is a graduate of the University of Alaska Fairbanks and  is very knowledgeable on gold deposit genesis and exploration in the Tintina Gold Province.

Millrock President & CEO Gregory Beischer commented: “We have known of Dave Larimer for many years and watched his career progress. Previously, Dave was very helpful in developing Millrock’s understanding of gold mineralization in the Goodpaster Mining District, south of Fairbanks. We think that Dave Larimer will be able to build an outstanding team of exploration geologists composed of Millrock staff, local Fairbanks experts, Felix Gold personnel, and global experts. As major shareholders of Felix Gold, our company will be very supportive and help unravel the geological puzzle presented for gold mineralization in the Fairbanks District.”

Fairbanks District Land Holdings and Agreement Structure

Felix Gold, the private Australian company with which Millrock has made a strategic alliance with, has decided to defer a go-public decision while waiting for the gold market to further strengthen. A further capital raise as a private company is planned by Felix Gold to fund 2021 summer exploration. The amendment assures that Millrock will receive the agreed 10% share of the private company Felix Gold in the event that it does not go public. Royalty provisions of the original agreement remain unchanged. The original agreement between Millrock and Felix Gold was documented in a January 12, 2020 Millrock press release.

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 owns a large 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, PolarX, and Felix Gold.

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

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 including drilling in 2021, and the intention to enter a lease agreement with Fairbanks Exploration, Inc. 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 Announces Closing of Bought Deal And Concurrent Non-Brokered Private Placements

Not for distribution to United States newswire services or for dissemination in the United States.

VANCOUVER, BRITISH COLUMBIA, March 8, 2021 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or the “Company") reports that the upsized bought deal (underwritten by REDPLUG Inc.) and concurrent non-brokered private placements reported in the Company’s news releases of February 23 and March 2, 2021 (together, the “Financings”) have closed.

Gross proceeds totaling $3,146,434.80 were raised by the Company’s issuance of 37,016,880 units (“Units”) at a price of $0.085 per Unit (the “Offering Price”), including 4,311,000 Units issued pursuant to REDPLUG Inc.’s exercise of the over-allotment option. Each Unit consists of one common share of the Company and one common share purchase warrant (the “Unit Warrants”). Each Unit Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.1275 per share for two years from the date of issuance.

Millrock President & CEO Gregory Beischer commented:  “We were very pleased to have received such strong support from our existing shareholder base in this financing and we welcome new shareholders. The funds we have raised will be put to good use for generation of new projects. While gold will still be a focus commodity, we are looking to expand our portfolio with greater emphasis on copper, nickel, and a variety of other critical and strategic metals. Generative efforts in the past 18 months have led to some excellent funding partnerships with earn-in companies. The coming year will see a lot of drilling on Millrock controlled projects. We will be hoping to make the transformative discovery that will result in the share price appreciation we all want to see.”

Officers and directors of Millrock subscribed for a total of 1,300,880 Units in the financing. These subscriptions constitute “related party” transactions within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. However, these subscriptions are exempt from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the securities issued to the participating officers and directors, nor the fair market value of the consideration paid, exceeds 25% of Millrock’s market capitalization.

REDPLUG Inc. was paid a cash commission of $148,971.85 and was issued non-transferable broker warrants for the purchase, at the Offering Price, of 2,184,880 Units (the “Broker Warrants”).  Each Broker Warrant is exercisable for two years from the date of issuance. Finder’s fees consisting of cash and non-transferable finder warrants (the “Finder Warrants”) were paid to the following: Canaccord Genuity Corp. $5,176.50 and 32,900 Finder Warrants; Haywood Securities Inc. $27,072.50 and 84,000 Finder Warrants; Echelon Wealth Partners $4,760; GloRes Securities Inc. $5,598.95; Sightline Wealth Management $3,391.50 and Sprott Capital Partners LP $680. Finder Warrants have the same terms as the Unit Warrants.

The securities issued in connection with the Financings are subject to a hold period expiring on July 9, 2021. The Financings remain subject to final TSX Venture Exchange acceptance.

About REDPLUG Inc.
REDPLUG Inc. is a registered exempt market dealer specializing in private placements in the junior resource sector, with a primary focus on silver, gold, platinum, and palladium. REDPLUG’s accredited investor clients are building positions in well-managed, insider-owned, resource companies including: prospect generators, advanced explorers, resource developers, and near-term producers. Visit REDPLUG.com or call 1-844-RED-PLUG.

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 of 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, PolarX, and Felix Gold.

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable states securities requirements or pursuant to exemptions therefrom. This news release shall not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction.

Millrock Announces Upsizing of Bought Deal and Concurrent Non-Brokered Private Placement Financings

 Not for distribution to United States newswire services or for dissemination in the United States.

VANCOUVER, BRITISH COLUMBIA, March 2, 2021 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or the “Company") reports that, due to overwhelming demand from its existing shareholder base, the bought deal and concurrent non-brokered private placements announced on February 23, 2021 have been upsized. The bought deal private placement being undertaken by REDPLUG Inc. (“REDPLUG”) as underwriter will now consist of 23,000,000 units of the Company (“Units”) at a price of $0.085 per Unit (the “Offering Price”) for aggregate gross proceeds of $1,955,000 (the “Bought Deal”).

REDPLUG’s option to purchase for resale additional Units at the Offering Price, exercisable in whole or in part any time up to 48 hours prior to the closing date of the Bought Deal, has been increased from up to 4,500,000 Units to up to 5,750,000 Units for aggregate gross proceeds to the Company of $488,750 in the event REDPLUG exercises this option in full (the “Over-Allotment Option”).

The concurrent non-brokered private placement financing will now consist of 9,600,000 Units at the Offering Price for aggregate gross proceeds of $816,000 (the “Concurrent Non-Brokered Placement”).

Each Unit will consist of one common share of the Company and one common share purchase warrant (the “Unit Warrants”). Each Unit Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.1275 per share for two years from the date of issuance.

The gross proceeds from the Bought Deal and (if fully subscribed) the Concurrent Non-Brokered Placement in the aggregate amount of $2,771,000 will be used to advance exploration on the Company’s current projects in the following approximate amounts: $500,000 for exploration on current projects, $950,000 on generation of new projects, $150,000 for marketing of projects to funding partners, with the remainder for general corporate purposes.

The Bought Deal and the Concurrent Non-Brokered Placement remain subject to TSX Venture Exchange approval. Millrock also clarifies that the record date in connection with the existing shareholder exemption provided for in British Columbia Instrument 45-534 and similar exemptions in other jurisdictions of Canada (the “Existing Shareholder Exemption”), is February 22, 2021 (the “Record Date”); to be eligible to subscribe under the Existing Shareholder Exemption, the subscriber must have been a shareholder of the Company at the close of business on the Record Date and continue to be one on the closing date of the Concurrent Non-Brokered Placement.

About REDPLUG Inc.
REDPLUG Inc. is a registered exempt market dealer specializing in private placements in the junior resource sector, with a primary focus on silver, gold, platinum, and palladium. REDPLUG’s accredited investor clients are building positions in well-managed, insider-owned, resource companies including prospect generators, advanced explorers, resource developers, and near-term producers. Visit REDPLUG.com or call 1-844-RED-PLUG. 

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 of 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, PolarX, and Felix Gold.

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

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn 

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of Offered Securities in any state in which such offer, solicitation or sale would be unlawful. The Offered Securities have not been registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the intention to undertake the Bought Deal and the Concurrent Non-Brokered Placement and the intended use of proceeds. 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 Bought Deal and Concurrent Non-Brokered Placement.

Millrock Announces Bought Deal and Concurrent Non-Brokered Private Placements

VANCOUVER, BRITISH COLUMBIA, February 23, 2021 - Millrock Resources Inc. (TSX-V: MRO) ("Millrock" or the “Company") announces that it has entered into an underwriting agreement with Redplug Inc. (“REDPLUG”) pursuant to which REDPLUG has agreed to purchase, on a bought deal private placement basis, 18,000,000 units of the Company (“Units”) at a price of $0.085 per Unit (the “Offering Price”) for aggregate gross proceeds of $1,530,000 (the “Bought Deal”), of which REDPLUG has deposited $1,275,000 in trust with Millrock.  

REDPLUG has also been granted an option, exercisable in whole or in part any time up to 48 hours prior to the closing date of the Bought Deal, to purchase for resale up to an additional 4,500,000 Units at the Offering Price, for aggregate gross proceeds to the Company of $382,500 in the event REDPLUG exercises this option in full.

The Company also intends to undertake, concurrently with the Bought Deal, a non-brokered private placement of up to 6,000,000 Units for additional aggregate gross proceeds of $510,000 on the same terms as the Bought Deal (the “Concurrent Non-Brokered Placement”). There is no minimum offering size for the Concurrent Non-Brokered Placement but the minimum subscription amount is 60,000 Units ($5,100).

Each Unit will consist of one common share of the Company and one common share purchase warrant (the “Unit Warrants”). Each Unit Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.1275 per share for two years from the date of issuance.

It is the intention of the Company to provide an opportunity to existing, eligible Millrock shareholders to participate in the Concurrent Non-Brokered Placement. Non-accredited investors will be welcome to participate through use of the existing shareholder exemption provided in British Columbia Instrument 45-534 and similar exemptions in other jurisdictions of Canada to the extent available (the “Existing Shareholder Exemption”). 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 (the “U.S. Securities Act”)). This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Units or underlying securities (collectively, the “Offered Securities”) in any state in which such offer, solicitation or sale would be unlawful. The Offered Securities have not been registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

The gross proceeds from the Bought Deal and (if fully subscribed) the Concurrent Non-Brokered Placement in the aggregate amount of $2,040,000 will be used to advance exploration on the Company’s current projects (as to approximately $250,000), for generation of new projects (as to approximately $650,000), marketing of projects to funding partners (as to approximately $150,000) and the remainder for general corporate purposes.

If the Concurrent Non-Brokered Placement is oversubscribed and not increased (which would require the approval of the Company, REDPLUG and the TSX Venture Exchange), Units will first be allocated to EMX Royalty Corp. (which holds the right to maintain their current ownership percentage of Millrock shares) and thereafter pro rata among all subscribers in the Concurrent Non-Brokered Placement based upon the subscription amounts set out in their subscription agreements.

REDPLUG will be paid an 8% cash commission and will be issued broker warrants for the purchase, at the Offering Price, of such number of Units as is equal to 8% of the aggregate number of Units sold under the Bought Deal and Over-Allotment Option. Finder’s fees of 7% cash and 7% finder’s warrants (the “Finder’s Warrants”) may be paid in connection with the Concurrent Non-Brokered Placement. The Finder’s Warrants have the same terms as the Unit Warrants except that they will be non-transferable.

The Bought Deal and the Concurrent Non-Brokered Placement are subject to TSX Venture Exchange approval. All securities issued will be subject to a four-month hold period. The Bought Deal and the Concurrent Non-Brokered Placement are expected to close on March 8, 2022.

Existing Shareholder Exemption
To be eligible to subscribe under the Existing Shareholder Exemption, the subscriber must: a) have been a shareholder of the Company at the close of business on February 23, 2021 and continue to hold common shares of the Company until the closing date of the Concurrent Non-Brokered Placement, b) be purchasing the Units as principal for their own account and not for any other party, and c) not have subscribed for more than $15,000 of securities of the Company, including the current subscription, in the past 12 months unless they have first received advice from a registered investment dealer regarding the suitability of the investment.

Any existing shareholder or other interested investor who wishes to participate in the Concurrent Non-Brokered Placement should contact Janice Davies, Corporate Secretary of the Company, by email at: janice@jdconsulting.ca  to receive subscription documentation and instructions. The deadline for existing shareholders to send their subscription agreement and funds to the Company is 4 p.m. PST on March 1, 2021.

About REDPLUG Inc.
REDPLUG Inc. is a registered exempt market dealer specializing in private placements in the junior resource sector, with a primary focus on silver, gold, platinum, and palladium. REDPLUG’s accredited investor clients are building positions in well-managed, insider-owned, resource companies including: prospect generators, advanced explorers, resource developers, and near-term producers. Visit REDPLUG.com or call 1-844-RED-PLUG. 

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 of 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, PolarX, and Felix Gold. 

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)

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of Offered Securities in any state in which such offer, solicitation or sale would be unlawful. The Offered Securities have not been registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the intention to undertake the Bought Deal and the Concurrent Non-Brokered Placement and the intended use of proceeds. 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 Bought Deal and Concurrent Non-Brokered Placement.

Millrock and Partner Felix Gold Expand Fairbanks Gold District Claim Footprint And Complete Airborne Geophysical Surveys At Treasure Creek Project, Alaska

Highlights

• 208 State of Alaska mining claims have been staked to cover areas prospective for gold mineralization.

• Land holdings in the Fairbanks Gold District now cover approximately 20,200 hectares.

• Plans are being made to begin rotary drilling at the Treasure Creek project to test for extensions of gold discoveries made by prior workers.

• An airborne magnetic survey was completed over the Treasure Creek project. Gold-bearing structures are traced.

VANCOUVER, BRITISH COLUMBIA, February 10, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) announces that it has expanded the size of the Treasure Creek and Ester Dome gold projects and has staked numerous other claim blocks throughout the Fairbanks Gold District. The claims are subject to purchase agreements with soon-to-be-listed Felix Gold Ltd. Felix Gold is currently a private Australian company that is expected to gain a listing on the Australian Securities Exchange (“ASX”) in the coming months. Millrock has assigned its rights to Felix Gold in return for a large equity stake in the company once it is listed on the ASX, as announced in Millrock’s January 12th, 2021 press release.

Felix Gold Managing Director Joseph Webb commented, “We are honored to be working with the Millrock team. They have assembled a great land package and bring an extensive understanding of Alaska gold districts and local operational expertise. Felix Gold, through the Mines Discovery Fund backers, brings an outstanding technical team with global experience and significant commercial strength. The Fairbanks Gold District is underexplored and has real potential for multiple new gold deposit discoveries. Millrock is positioned at the center of what we envision as the next wave of major gold discoveries in the Fairbanks Gold District, which features Kinross’s Fort Knox gold mine and significant alluvial gold production”.

Under the terms of the agreement, in addition to the equity stake in Felix Gold, Millrock will be entitled to cash payments in the form of Advanced Minimum Royalty (“AMR”) payments that can later be deducted from Net Smelter Return (“NSR”) production royalties, if a mine is developed. Any claims released from the agreement by Felix Gold will be returned to Millrock.

Felix Gold and Millrock are building an outstanding team of practical exploration geoscientists with local and global expertise. The teams will work in a collaborative manner to assess the entire Fairbanks area. The group intends to aggressively explore the Fairbanks area and make new gold discoveries. The claims are in close proximity to Kinross’ Fort Knox gold mine which has produced more than 8 million ounces of gold and has substantial resources for future production (source: Kinross Gold Corporation website). The Treasure Creek project and other recently staked claims are also in close proximity to the Golden Summit project, which is operated by Freegold Ventures Limited (TSX-V: FVL “Freegold”). Freegold announced excellent drill results in 2020 that resulted in substantial share price appreciation.

Figure 1: Project Location Map. The projects are situated close to the mining and transportation hub of the City of Fairbanks in the Fairbanks Northstar Borough.

Figure 2: Fairbanks Gold District Claim Map. Claims staked by Millrock and now controlled by Felix Gold are shown in blue. The claims cover in excess of 20,200 hectares of mineral rights that contain numerous gold prospects.

Exploration in the Fairbanks Gold District is already underway. With funding from Felix Gold, an airborne magnetic survey was completed in December on the Treasure Creek project. Results have been received and are being reviewed into the historic proprietary and public geological database that has been assembled. Strong drill targets are emerging and plans are being made to begin drilling at the earliest opportunity. An initial test with rotary drilling followed by deeper reverse circulation drilling is envisioned.

Figure 3: Airborne magnetic map from recently completed survey. The magnetic map indicates areas of intrusive rocks and structures that assist in tracing gold mineralization. Historic prospect locations are shown.

Millrock President & CEO Gregory Beischer commented, “We are building a great exploration team that will be dedicated to responsibly and effectively exploring the Fairbanks District for gold deposits. While there is a lot of advance work to do, such as the recently completed airborne geophysical survey, discoveries are made with the drill bit. We look forward to getting started on our drilling programs as soon as possible, and Treasure Creek is a great place to start. The prospects we will drill are literally within sight of the great Fort Knox gold mine and we have great indications of gold beneath the Treasure Creek claims.”

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. Mr. Beischer has reviewed drill core and assay results from the historic drilling and is satisfied that the results reported are accurate. 

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. as well as 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, PolarX, and Felix Gold.

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 including drilling in 2021. 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 Amendment To 64North Gold Project Option Agreement With Resolution Minerals, Alaska

Highlights

• The amendment provides Millrock with additional equity exposure in Resolution Minerals in return for a reduction in earn-in exploration expenditure requirements.

• The amendment will allow Resolution Minerals to raise funds for continued drilling at the 64North gold project.

• Resolution Minerals indicates it plans to drill at the Sunrise and East Pogo prospects in 2021.

VANCOUVER, BRITISH COLUMBIA, February 9, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) announces that it has agreed to an amendment to the existing option agreement concerning the 64North gold project that was signed and announced in 2019 with Resolution Minerals Ltd. (ASX: RML, “Resolution”). Resolution has recently earned a 30% interest in the project and can elect to increase its ownership to 42% this year through cash and share payments, as well as through additional exploration expenditures.

Under the original agreement, Resolution would be required to spend US$5.0 million on exploration in 2021. To ultimately earn up to a 60% interest in the coming years, Resolution would have been required to spend a total of US$20 million. Under the terms of the amended agreement, the total spend required to earn 60% is now US$12 million. In return for this reduction, Millrock will be entitled to receive an increase of 12 million RML shares over the course of the option agreement and will receive an immediate payment of 15 million RML shares that otherwise would not have been made until February 2022.

Millrock President & CEO Gregory Beischer commented: “The amendment is advantageous to Millrock because it provides the company with a larger shareholding in Resolution in advance of the coming exploration season. Upon exploration drilling success in 2021, a greater number of shares in hand now could mean greater financial returns for Millrock. Additionally, the reduced work requirement will afford Resolution a better chance of raising the needed capital for a planned 2021 drilling campaign at two excellent prospects: Sunrise and Boundary.”

The table below summarizes the amended agreement terms. Changes are shown in strikethrough and red text.

*The required 2021 spend is inclusive of an approximate US$1 million carry-forward from 2020 exploration. All dollar amounts are United States dollars. The dollar values indicated are inclusive of a 8% management fee that Resolution may attribute to the spend.

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. as well as 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, PolarX, and Felix Gold.

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 of Resolution Minerals to mount further exploration drilling in 2021. 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 Receives Cash and Share Payments; Resolution Minerals Earns 30% Interest In Millrock’s 64North Gold Project, Alaska

VANCOUVER, BRITISH COLUMBIA, January 27, 2021 - Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the "Company") announced today that Resolution Minerals Ltd ("Resolution” or “RML”) has completed the requirements to earn an initial 30% interest in the 64North Gold Project located in the Goodpaster Mining District of interior Alaska.

Resolution has exceeded the Year 1 exploration expenditure requirement of US$5.0 million, has paid Millrock US$50,000, and issued a further share payment of 10 million RML shares to Millrock. Resolution can earn up to a 60% interest in the project. The terms of the December 2019 agreement can be viewed at this link: Definitive Exploration Agreement.

Resolution has indicated that it intends to continue sole-funding exploration on the project to increase its ownership interest and will operate exploration in 2021. Based on work completed in 2020, drilling is being planned at the Sunrise and Boundary prospects this year.

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. as well as 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, PolarX, and Felix Gold.

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 including drilling in 2021. 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 Assay Results From Drilling and Surface Rock Sampling At West Pogo And Eagle Blocks, 64North Project, Alaska

Highlights

• Broad, low-grade intrusion-hosted gold mineralization was sampled at the Sunrise prospect, West Pogo block. Continuous rock sampling in a road cut leading to the adjacent Aurora prospect area returned:

  • 93.0 meters @ 0.29 grams per tonne (“g/t”) gold including

  • 27.0 meters @ 0.53 g/t gold with a maximum 1.0 meter interval @ 1.89 g/t gold.

• Partner Resolution minerals indicates its plans to test the new Sunrise prospect with a Rotary Air Blast (“RAB”) drill in March 2021.

• Drilling of two holes at the Aurora prospect in November / December 2020 did not result in any significant gold intercepts.

• Trenching and rock sampling completed at the Eagle prospect in late 2020 returned zones of low grade gold mineralization:

  • 12.0 meters @ 0.20 g/t gold including 3.0 meters @ 0.56 g/t gold in Trench ID: 20E1004; and

  • 26.0 meters @ 0.10 g/t Au in Trench ID: 20E1002

VANCOUVER, BRITISH COLUMBIA, January 18, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) announces assay results from road cut sampling at the Sunrise prospect, drilling at the Aurora prospect of the West Pogo block, and trenching at the E1 prospect, Eagle block, at the 64North Gold Project, Alaska. 64North is a large project situated near Northern Star’s Pogo Mine. Resolution Minerals (ASX: RML, “Resolution”) is earning an interest in the project by funding exploration.

Figure 1: Millrock claims shown in blue. The large, 660 square kilometer property is subdivided into “blocks”. Prospects pertinent to this press release are indicated in red.

Aurora Prospect, West Pogo Block

The final two diamond drill holes (20AU08 and 20AU09) of the 2020 drilling program intersected multiple quartz veins following up on the 7.0 meter-thick quartz vein in hole 20AU07 previously reported. No significant assays were encountered on these last three holes for 2020, despite the technical success. A comprehensive review of the structural data and assays results from the 2020 West Pogo drilling program is underway to determine the next steps for the Aurora, Echo, and Reflection Prospects.

 E1 Prospect, Eagle Block

Four trenches totaling 716 meters in length were excavated across the highest priority structures at this prospect. The trenches intersected numerous zones of gold mineralization consistent with intrusion-related-intrusion-hosted style gold mineralization. Trenching and rock sampling completed at the Eagle prospect in late 2020 returned zones of low-grade gold mineralization:

• 12.0 meters @ 0.20 g/t Au including 3.0 meters @ 0.56 g/t gold in Trench ID: 20E1004; and

• 26.0 meters @ 0.10 g/t Au in Trench ID: 20E1002

The trenches are located within a large gold geochemical anomaly that measures 10 square kilometers. Resolution indicates it plans to do further work to develop drill targets in 2021 at this prospect.

Sunrise Prospect, West Pogo Block

A previously constructed drill road that runs from the Pogo Mine road to Millrock’s Aurora prospect crosses the Sunrise prospect. Bedrock was exposed over significant lengths in road cuts when the road was constructed. Continuous rock sampling along the road cut has identified a broad zone of low-grade intrusion-hosted gold mineralization. The results are:

• 93.0 meters @ 0.29 grams per tonne (“g/t”) gold including 27.0 meters @ 0.53 g/t gold with a maximum 1.0 meter interval @ 1.89 g/t gold. 

The Sunrise prospect lies just to the south of the Aurora prospect and is approximately four kilometers from Northern Star’s Pogo Mine. The prospect is underlain by a quartz-felspar-biotite granite intrusion crosscut by sheeted quartz veins that contain gold. This style of mineralization is a distinguishing feature of intrusion hosted gold systems. The granite body is overburden-covered, except for a few small outcroppings. A large zone measuring 400 meters by 1,100 meters of anomalous soil sample results overlies the inferred position of the granite body.

Resolution indicates that it is planning a 3,000-meter RAB drilling program with approximately 25 holes to be drilled. The drilling will be done along the existing drill trail leading from the Pogo Mine road to the Aurora prospect. Resolution reports it intends to commence drilling in March 2021. 

Quality Control and Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Drill core was transported to Millrock’s operation base in Fairbanks, Alaska where it was logged, cut and sampled. Drill core and samples were kept in a secure location at all times. For the results presented here, the representative half-core samples and rock 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. as well as 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, PolarX, and Felix Gold.

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 including RAB drilling in 2021. 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 Forms Strategic Alliance with Felix Gold and Vends Three Projects, Fairbanks Gold District, Alaska

VANCOUVER, BRITISH COLUMBIA, January 12, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) announces that it has sold its Treasure Creek, Ester Dome, and Liberty Bell projects (“Projects”) to Alaska-domiciled subsidiary companies of Felix Gold Ltd. (Australia) (“Felix Gold”) for a future share payment, US$210,000 in cash, and retained royalties. Felix Gold will have the right to secure 100% ownership in the projects in accordance with the underlying option agreements.

Felix Gold is planning to undertake an initial public offering (“IPO”) and listing on the Australian Securities Exchange (“ASX”) in 2021. Upon successful listing and ASX approval, Millrock will vest with a circa 10% share ownership of Felix Gold (dependent on the final capital raising amount).

Each of the three projects is subject to a production royalty in favour of Millrock:

• Treasure Creek 2.0% Net Smelter Returns (“NSR”);

• Ester Dome 1.5% NSR; and

• Liberty Bell 2.0% NSR.

Each of the royalties has an initial Advanced Minimum (“AMR”) payment of US$50,000 per year that is triggered when certain milestones are met. The AMR payments increase by US$50,000 each year. AMR payments made to Millrock are deductible from future production royalty payments.

Additionally, two company’s technical teams will work together under a Strategic Alliance agreement to generate further projects in the Fairbanks Gold District. Felix Gold will contribute a minimum of US$250,000 annually for this work and future property acquisitions. Mineral rights acquired under strategic alliance efforts will be subject to a 1.0% NSR production royalty in favour of Millrock. Felix Gold will be engaging Millrock through a Services Agreement to provide staff, infrastructure, and equipment.

Millrock President & CEO Gregory Beischer commented, “We are very pleased with this development. Millrock envisions a systematic, concerted, and sustained exploration effort in the Fairbanks Gold District with numerous drilling programs in the years to come. The Fairbanks Gold District offers promising chances for new gold deposit discovery success and rewards for our shareholders. The new company, Felix Gold, of which Millrock will become a significant shareholder, is named after Felix Pedroni, the prospector credited with the initial discovery of gold in Fairbanks in 1902. We look forward to our collaboration with Felix Gold and making new gold discoveries in this resurging, under-explored gold camp.”

The Fairbanks Gold District is located in the prolific Tintina Gold Province (Figure 1), which spans Alaska and Yukon. Millions of ounces of alluvial gold has been produced since gold was first discovered near the turn of the prior century. The most prominent lode gold deposit so far discovered in this area is the Fort Knox Mine operated by Kinross Gold Corp. Fort Knox has so far produced in excess of eight million ounces of gold and has substantial resources for future production (source: Kinross Gold Corporation website)

Figure 1. Tintina Gold Province. Major gold deposits are shown as gold-filled circles.
Millrock / Felix Gold projects shown as yellow stars.

Millrock’s Fairbanks Gold District claim holdings, some of which were acquired by staking and others under option from other companies, are shown on the following map (Figure 2). All claims and option rights are being conveyed or assigned to Felix Gold under the new agreement, subject to approval by certain underlying owners.

Figure 2. Millrock / Felix Gold claims of the Fairbanks Gold District are shown in blue. Major producing or past-producing mines are indicated by crossed picks (yellow = lode deposit, pink = placer deposit). Paved highways (black/white dashes), major gravel roads (red dashes), Alaska pipeline (dark grey line), and major faults (fine black lines) are also shown. Gold production numbers are sourced from the Alaska Division of Geological and Geophysical Surveys (“DGGS”).

The Treasure Creek project is located approximately 20 kilometers west of the Fort Knox Mine. Geological conditions at Treasure Creek are similar to those at Fort Knox, and there are numerous prospects with interesting drill intersections reported by prior workers. Felix Gold and Millrock are laying plans to begin drilling at the project in spring 2021. 

The Ester Dome Project

The Ester Dome project is located on the western bounds of the City of Fairbanks. Alluvial gold has been produced on the flanks of Ester Dome (a prominent topographic high) for over a century and continues to this day. DGGS reports that at least three million ounces of gold have been produced. Numerous lode prospects have been discovered on Ester Dome, including on claims that are held directly by or under option by Millrock. These claims are being transferred to Felix Gold. 

The Liberty Bell Project

The Liberty Bell project is located approximately 115 kilometers southwest of Fairbanks. Intrusion-related gold deposits are targeted. Extensive soil anomalies are present in areas of shallow overburden. Thick gravels obscure bedrock in other areas that have interesting geophysical signatures. Rotary air-blast drilling is planned to test beneath the gravel blanket in summer 2021. 

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. as well as 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, PolarX, and now Felix Gold. 

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. 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 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.