Millrock Announces Staking of Lithium Brine Project and Sale of Claims, New Mexico, USA
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: 18-11
MILLROCK ANNOUNCES STAKING OF LITHIUM BRINE
PROJECT AND SALE OF CLAIMS, NEW MEXICO, USA
VANCOUVER, BRITISH COLUMBIA, June 21, 2018 - Millrock Resources Inc. (TSX-V: MRO,
OTCQX: MLRKF) ("Millrock") is pleased to report that it has entered into a Purchase and Sale
Agreement with Nevada-registered Xinda International Corp (“Xinda”), whereby Xinda will
acquire a 100% interest (subject to a 3% gross final sales royalty provision) in federal mining
rights comprising the Lordsburg lithium project (“the Assets”) in the State of New Mexico, USA.
Millrock acquired the claims by staking over the past several months. In consideration for
acquisition of the Assets, Xinda has agreed to pay Millrock cash consideration of $50,000 and
will issue that number of shares that will equal 19.9% of the issued and outstanding Xinda stock.
Also, under a milestone payment agreement Xinda has agreed to a future share payment in the
event that Xinda makes exploration expenditures of US$5.0 million on the claims or in a
surrounding Area of Interest (“AOI”). Upon reaching that milestone, Xinda will issue to Millrock
that number of shares of that will result in Millrock being restored to owning 19.9% of the issued
and outstanding shares of Xinda at that time, provided that Millrock has not sold any of its initial
stake in the company. Xinda has also assumed the obligations to make certain payments in
accordance with a Finder agreement with a third party that brought the conceptual target to the
attention of Millrock. Xinda trades on the over-the-counter markets under the symbol XNDA.
The Lordsburg lithium brine project is located in southern New Mexico and consists of 54
federal mining claims covering 1080 acres surrounded by a large Area of Interest (“AOI”) which
measures in excess of 2,200 square miles. The objective of the exploration project is to discover
large volumes of lithium-bearing brine from which lithium metal can be economically extracted.
The project covers a large, closed, sedimentary basin that is of adequate catchment area for the
accumulation and recharge of lithium-bearing brines. The basin is surrounded by young, lithium-
bearing volcanic rocks from which lithium may have been leached over time, and migrated to
depositional sites within the basin as brine.
The claims are situated over a central playa or salar, and cover the deepest portions of the
sedimentary basin, where brine would be most likely to accumulate. As evidenced by local,
active hot springs, there is a high regional heat flow to drive fluid movement. Structures,
interpreted from geophysical surveys, provide fluid pathways and potentially form boundaries
that create brine pool traps. The arid climate of southern New Mexico allows for brine formation,
and geological age relationships demonstrate that sufficient accumulation time was available in
this long-lived basin to develop sustainable brines. This is an early-stage conceptual target. No
MILLROCK RESOURCES INC. | Suite 2300 – 1177 West Hastings St. | Vancouver, BC V6E 2K3
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Millrock Reports New Lithium Project and
Purchase and Sale Agreement
Page 2
prior exploration is known to have occurred for lithium at this location.
Xinda has indicated it intends to follow the exploration plan below:
1. Acquire satellite imagery and perform linear analysis for structures;
2. Surface rock mapping and sampling;
3. Water well sampling;
4. Permitting for geophysical surveys and well drilling;
5. Detailed ground gravity geophysical survey;
6. Controlled-Source audio-frequency magnetotellurics geophysical survey;
7. Data integration and basin modeling; and
8. Well drilling.
Xinda has stated it intends to raise capital for the first seven exploration steps, and upon
completion, do a secondary financing for drilling.
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 active in Alaska, British Columbia, the southwest USA and Sonora
State, Mexico. 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: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and
Riverside. Millrock is a major shareholder of junior explorers PolarX Mining Limited, Sojourn
Exploration Inc., and Xinda International Corp.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
MILLROCK RESOURCES INC. | Suite 2300 – 1177 West Hastings St. | Vancouver, BC V6E 2K3
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Millrock Reports New Lithium Project and
Purchase and Sale Agreement
Page 3
FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)
Some statements in this news release contain forward-looking information. These statements
address future events and conditions and, as such, involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or
achievements to be materially different from any future results, performance or achievements
expressed or implied by the statements. Such factors include without limitation the completion of
planned expenditures, the ability to complete exploration programs on schedule and the
success of exploration programs.