Millrock Partner Felix GOLD Lodges Initial Public Offering Prospectus ON the Australia Securities Exchange, Fairbanks Area GOLD Projects, Alaska
MILLROCK RESOURCES INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
NR: 21-18
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.
MILLROCK RESOURCES INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Millrock Partner Felix Gold Lodges Initial
Public Offering Prospectus
Page 2
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
MILLROCK RESOURCES INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Millrock Partner Felix Gold Lodges Initial
Public Offering Prospectus
Page 3
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.
MILLROCK RESOURCES INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Millrock Partner Felix Gold Lodges Initial
Public Offering Prospectus
Page 4
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.
MILLROCK RESOURCES INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Millrock Partner Felix Gold Lodges Initial
Public Offering Prospectus
Page 5
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.