Millrock Provides Exploration Update ON Fairbanks GOLD District 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: 22-17
MILLROCK PROVIDES EXPLORATION UPDATE ON
FAIRBANKS GOLD DISTRICT PROJECTS, ALASKA
Highlights:
Treasure Creek project NW Array prospect drill results: Hole 22TCRC078: 89.9 meters grading
0.97 grams per tonne gold from 45.7 meters, including 41.1 meters grading 1.72 grams per
tonne gold from 59.4 meters. The mineralized area now measures 400 meters by 750 meters
and is open in four directions.
Treasure Creek project Eastgate–Scrafford prospect drill results: Hole 22TCRC036: 7.6 meters
grading 6.48 grams per tonne gold from 50.3 meters, including 1.5 meters grading 31.4
grams per tonne gold from 50.3 meters.
Results pending: Assays from a further 90 holes drilled on various project areas on the
Fairbanks Gold District properties are still pending from the assay laboratory.
VANCOUVER, BRITISH COLUMBIA, November 21, 2022 – Millrock Resources Inc. (TSX-V:
MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) is pleased to provide an update on
Fairbanks Gold District exploration being carried out by Felix Gold Limited (ASX: FXG, “Felix
Gold” or “Felix”). Millrock owns 9,957,157 shares of Felix Gold and holds royalties ranging from
1.0% to 2.0% Net Smelter Returns (“NSR”) on all claims currently held by Felix in the Fairbanks
District. The claims cover close to 400 square kilometers of prospective lands.
Felix Gold has recently reported the following significant near-surface gold intercepts from
drilling done on the NW Array prospect on the Treasure Creek gold project.
NW Array prospect gold intercepts include:
• Hole 22TCRC071: 38.12 meters (m) grading 1.1 grams (g) / tonne (t) gold (Au) from
1.5 m downhole, including 7.6 m grading 4.13 g/t Au from 6.1 m downhole
• Hole 22TCRC073: 41.1m grading 0.37 g/t Au from 1.5 m downhole, including 6.1 m
grading 1.15 g/t Au from 21.3 m downhole
• Hole 22TCRC075: 9.1 m grading 0.44 g/t Au from 1.5 m downhole and 35.1 m grading
1.8 g/t Au from 16.8 m downhole, including 1.5 m grading 27.2 g/t Au from 35.1 m
downhole
• Hole 22TCRC076: 18.3 m grading 1.02 g/t Au from 42.7 m downhole and 1.5 m
grading 7.42 g/t Au from 45.7 m downhole
• Hole 22TCRC078: 30.5 m grading 0.40 g/t Au from 1.5 m and 89.9 m grading 0.97 g/t
Au from 45.7 m, including 41.1 m @ 1.72 g/t Au from 59.4 m
MILLROCK RESOURCES INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Millrock Reports Exploration Progress
Fairbanks Gold District, Alaska
Page 2
• Hole 22TCRC083: 38.1 m grading 0.75 g/t Au from 51.8m, including 24.4m grading 1.08
g/t Au from 51.8 m
Felix Gold indicates that the drilling results show bulk tonnage gold mineralization distributed
over an area measuring 400 m by 750 m at the NW Array Southern Zone. The mineralization is
open to depth and to the north, south, and east, as per the Felix Gold press releases dated
October 5, 2022, and October 18, 2022. The Treasure Creek prospect is road accessible. The
claim block is traversed by a power line, which leads approximately 20 kilometers southeast to
the Fort Knox Gold Mine, operated by a subsidiary of Kinross Gold Corporation.
Felix Gold has also reported the following significant, near-surface gold intercepts from drilling
done on the Eastgate – Scrafford prospect on the Treasure Creek gold project over the past
month. The following are highlights from 13 reverse circulation holes drilled in the Eastgate
Central Zone. The results expand near-surface, high-grade gold mineralization over an
approximate one-kilometer strike length. (Felix Gold press release dated September 28, 2022,
and November 1, 2022).
Eastgate – Scrafford prospect gold intercepts include:
• Hole 22TCRC113: 6.1 m grading 3.74 g/t Au from 13.7m downhole, including 1.5 m
grading 8.73 g/t Au from 15.2 m downhole and 3.0 m grading 1.16 g/t Au from 36.6 m
downhole
• Hole 22TCRC022: 6.1 m grading 3.22 g/t Au from 62.5 m downhole, including 1.5 m
grading 11.4 g/t Au from 64.0 m downhole
• Hole 22TCRC014: 4.6 m grading 1.90 g/t Au from 21.3 m downhole
• Hole 22TCRC122: 41.1 m grading 0.31 g/t Au from 79.2 m downhole and 53.3 m
grading 0.47 g/t Au from 129.5 m downhole
• Hole 22TCRC029: 4.6 m grading 0.76 g/t Au from 91.4 m downhole
• Hole 22TCRC036: 7.6 m grading 6.48 g/t Au from 50.3 m, including 1.5m grading 31.4
g/t Au from 50.3 m
• Hole 22TCRC038: 4.6 m grading 0.78 g/t Au from 27.4 m and 9.2 m grading 0.43 g/t Au
from 93.0 m, including 1.5 m grading 1.76 g/t Au from 93.0 m and 18.3 m grading 0.40
g/t Au from 126.5 m, including 1.5 m grading 1.19 g/t Au from 129.5 m
The Eastgate – Scrafford prospect is located approximately three kilometers southeast of the
NW Array Southern Zone. Assays are pending for a further 50 reverse circulation drill holes
completed in the Phase 1 program at Treasure Creek. Assay results from a further 40 holes
drilled on prospects on various other claim blocks in the Northeast Fairbanks area are also
pending.
MILLROCK RESOURCES INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Millrock Reports Exploration Progress
Fairbanks Gold District, Alaska
Page 3
Felix Gold and Millrock have now ended the Strategic Alliance relationship between the
companies. Each party is free to use the information generated during the alliance period for
their own purposes. As a result of the strategic alliance, Millrock owns royalties on all of the
claims that have so far been sold to Felix or subsequently acquired by Felix through staking or
third-party agreement in the Fairbanks district. The royalties feature advanced minimum royalty
payments. The royalties range from 1.0% NSR to 2.0% NSR and cover 41,800 hectares of
prospective lands in the Fairbanks Gold District. Millrock also owns 9,957,157 shares of Felix
Gold valued today at approximately AUD$1,195,000.
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. Note: Mr. Beischer has
not independently verified the assay results reported by Felix Gold. However, Mr. Beischer
inspected several drill sites and sample processing methods during Summer 2022 operations,
and can confirm that the assay work was done by a qualified laboratory with stringent quality
controls in place at the laboratory and at Felix Gold. The quality assurance and quality control
protocols of Felix Gold are as stringent as Millrock would use in its own exploration work.
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, is a
significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large
shareholding in each of Resolution Minerals Limited and Felix Gold 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:
Gregory A. Beischer, President & CEO
Toll-Free: 877-217-8978 | Local: 604-638-3164
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MILLROCK RESOURCES INC. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.millrockresources.com
Millrock Reports Exploration Progress
Fairbanks Gold District, Alaska
Page 4
Some statements in this news release may contain forward-looking information (within the
meaning of Canadian securities legislation) including without limitation receipt of further drill
results. 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.