Millrock and Centerra GOLD Form Strategic Alliance to Target GOLD Projects IN Sonora, Mexico
MILLROCK RESOURCES INC. | Suite 2300 – 1177 West Hastings St. | Vancouver, BC V6E 2K3
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
NR: 17- 01
MILLROCK AND CENTERRA GOLD FORM STRATEGIC
ALLIANCE TO TARGET GOLD PROJECTS IN SONORA,
MEXICO
VANCOUVER, BRITISH COLUMBIA, January 5th, 2017 - Millrock Resources Inc. (TSX-V:
MRO) ("Millrock") announces it has entered a strategic alliance agreement (“Alliance”) with
Centerra Gold Inc. (“Centerra”). Under the Alliance Millrock will execute generative exploration
and evaluate prospective properties to develop gold exploration projects. Centerra will provide
funding of at least US$250,000 this year.
Millrock and Centerra may nominate projects developed under the Alliance that would become
subject to an option to joint venture agreement between the companies. Multiple projects may
result from Alliance work with a designated exploration budget for each project that will initially
be funded by Centerra.
Upon making exploration expenditures of US$2.0 million on a designated project, Centerra will
vest with an 80% joint venture interest and Millrock will retain a 20% interest. In the event that a
party is diluted to a 10% equity interest, such interest will automatically convert to a 1.0% net
smelter return royalty.
Millrock President & CEO Gregory A. Beischer commented: “Centerra has already taken on two
of our Sonora gold projects. We are pleased that Centerra has now shown confidence in our
Mexico exploration team by entering this strategic alliance.”
Millrock will operate exploration in Sonora from its operations base located in the City of
Hermosillo, Mexico - the mining and exploration hub of Sonora.
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 active in Alaska, British Columbia, the southwest USA and Sonora
State, Mexico. Funding for drilling at Millrock’s exploration projects primarily comes from its joint
venture partners. Business partners of Millrock have included some of the leading names in the
mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and Altius.
MILLROCK RESOURCES INC. | Suite 800 – 789 West Pender St. | Vancouver, BC V6C 1H2
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Millrock – Centerra Strategic Alliance
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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
Millrock Resources Inc.
2300-1177 West Hastings Street
Vancouver,
V6E 2K3
Some statements in this news release contain forward-looking information. These statements
address future events and conditions and, as such, involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or
achievements to be materially different from any future results, performance or achievements
expressed or implied by the statements. Such factors include without limitation the completion of
planned expenditures, the ability to complete exploration programs on schedule and the
success of exploration programs.
"NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE."