Millrock to Sell Mexico Assets
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: 19-06
MILLROCK TO SELL MEXICO ASSETS
Key Highlights:
• Millrock has agreed to sell five projects, a geological database, and exploration
equipment to Riverside Resources Inc.
• Consideration paid consists of cash, Riverside shares, and grant of royalties.
VANCOUVER, BRITISH COLUMBIA, June 26, 2019 - Millrock Resources Inc. (TSX-V: MRO,
OTCQX: MLRKF) ("Millrock" or the “Company”) reports that it has entered into an agreement to
sell the La Union, Los Cuarentas, El Pima, El Valle, and Llano del Nogal claim blocks to
Riverside Resources Inc. (“Riverside”). Millrock will also transfer the option it holds on the Santa
Rosalia concession which forms part of the Los Cuarentas project. Millrock has also agreed to
sell a copy of its exploration database, and various exploration equipment and vehicles to
Riverside.
Consideration payable to Millrock is $35,000 cash and 150,000 Riverside common shares.
Additionally, Riverside will grant a 0.5% net smelter returns (“NSR”) royalty on the El Pima and
El Valle claims, and in the event that Riverside exercises the option on Santa Rosalia, it will
grant a 0.5% NSR royalty on that claim.
Millrock and Riverside anticipate completing transfer of the properties and completing the
agreement by August 31, 2019. The agreement is subject to approval by the TSX Venture
Exchange. The Riverside shares issued to Millrock will have a four-month hold period
commencing from the date of their issuance.
Millrock President & CEO Gregory Beischer commented: “We are pleased to have sold these
projects to Riverside. We are bringing greater focus back to Alaska, and Riverside should be
able to make good use of the database we have transferred to them. Ultimately we feel
confident that Riverside will be able to find funding partners for the projects. If exploration on
those projects is successful, Millrock shareholders will benefit from the portfolio of retained
royalty interests.”
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. Funding for drilling at Millrock’s
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 to Sell Mexico Assets
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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, Altius, and Riverside.
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)
Some statements in this news release contain forward-looking information (within the meaning
of Canadian securities legislation) including, without limitation, management’s expectation of
completing the sale of certain assets in Mexico to Riverside and future exploration of the claims
sold. 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 customary
risks of the resource industry.