Millrock Reports TSX-V Approval to Acquire GOLD Exploration Projects IN Fairbanks District, Alaska
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: 20-13
MILLROCK REPORTS TSX-V APPROVAL TO
ACQUIRE GOLD EXPLORATION PROJECTS IN
FAIRBANKS DISTRICT, ALASKA
VANCOUVER, BRITISH COLUMBIA, August 24, 2020 - Millrock Resources Inc. (TSX-V:
MRO, OTCQB: MLRKF) ("Millrock" or the “Company”) reports that the TSX Venture Exchange
has approved two arm’s length property transactions in Alaska, announced on July 29, 2020.
Millrock has secured the mineral rights to the Treasure Creek property through an Exclusive
Rights Agreement (“ERA”). Millrock may, at any time up to September 30, 2021, enter an Option
to Purchase Agreement with predetermined business terms. The ERA obligates Millrock to
perform adequate assessment work of approximately USD$15,000 and to pay Alaska claim
rental fees in 2020 of approximately USD$25,000. Under the terms of the ERA, Millrock has
issued 500,000 common shares at a deemed price of CAD$0.20625 per share to the underlying
owners of the Treasure Creek Partnership. The shares are subject to a hold period and may not
be traded until December 25, 2020.
The TSX Venture Exchange has also approved the issuance of 500,000 common shares to
Capstone Mining Corp. in return for relinquishment and elimination of a royalty on the Hab,
Sharp, Ster, Par, Cen, and PC claim blocks that Millrock purchased from Kiska Metals in 2016.
The royalty had been granted to Capstone by a Kiska Metals predecessor company. The shares
are subject to a hold period and may not be traded until December 7, 2020
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”
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 TSX-V Approval to
Acquire Gold Exploration Projects in
Fairbanks District, Alaska
Page 2
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 contain forward-looking information (within the meaning
of Canadian securities legislation) including, without limitation, management’s plan to advance
the projects with some surface exploration in the near term and look to bring in a partner as drill
targets are firmed up. 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, Millrock’s ability to execute the planned surface exploration work and other
customary risks of the resource industry, as well as Millrock’s ability to attract an exploration
partner on commercial terms considered acceptable to Millrock’s management.