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Base Metals Breaking Junior Mining MillRock Resources Precious Metals Project Generators

Millrock Partner Felix Gold Lodges Initial Publuc Offering Prospectus on ASX, Fairbanks Area Gold Projects, Alaska

Figure 1

Plan View Map showing the location of the project within the Tintina Gold Province.
Plan View Map showing the location of the project within the Tintina Gold Province.
Plan View Map showing the location of the project within the Tintina Gold Province.

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.
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.
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.

VANCOUVER, British Columbia, Nov. 30, 2021 (GLOBE NEWSWIRE) — 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.

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 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 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.
https://www.globenewswire.com/NewsRoom/AttachmentNg/71c71907-ec2d-4791-a632-b1e2fbbd4fca

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.
https://www.globenewswire.com/NewsRoom/AttachmentNg/d99e5cc4-19be-44d7-964d-0ca5df2fe96f

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.

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
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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.

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Millrock and Partner Felix Gold Expand Fairbanks Gold District Claim Footprint And Complete Airborne Geophysical Surveys At Treasure Creek Project, Alaska


Press Release


Corporate Presentation

https://youtu.be/JzycCBaEpMg

Millrock President & CEO Gregory Beischer commented, “We are building a great exploration team that will be dedicated to responsibly and effectively exploring the Fairbanks District for gold deposits. While there is a lot of advance work to do, such as the recently completed airborne geophysical survey, discoveries are made with the drill bit. We look forward to getting started on our drilling programs as soon as possible, and Treasure Creek is a great place to start. The prospects we will drill are literally within sight of the great Fort Knox gold mine and we have great indications of gold beneath the Treasure Creek claims.”

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson
, Investor Relations
(604) 638-3164

Categories
Base Metals Energy Junior Mining Precious Metals

Millrock Reports Amendment to 64North Gold Project Option Agreement With Resolution Minerals, Alaska


Press Release

https://youtu.be/JzycCBaEpMg

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. as well as 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, PolarX, and Felix Gold.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Categories
Base Metals Energy Exclusive Interviews Junior Mining Precious Metals Project Generators

(17 Min. Interview) MILLROCK RESOURCES / Resolution Minerals Earns 30% in 64N Project + New Partner Drill Program Felix Gold


Transcript

PARTNERING THE MOST HIGH RISK, HIGH-COST STAGES OF EXPLORATION

Millrock (TSX.V: MRO.V) is a project generator company focused on the discovery and development of high-value metallic mineral deposits in two jurisdictions with outstanding potential: the State of Alaska and Mexico – primarily the state of Sonora. The company’s main emphasis has been on gold and copper, focusing on porphyry and high-grade vein style deposits.

Our objective is to discover a world-class ore body, building further shareholder value through the exploration and development of existing projects and exploration joint ventures.

Millrock Resouces (TSX.V: MRO | OTCQB: MLRKF)
Website: www.millrockresources.com
Fact Sheet: https://bit.ly/3cnxJAc
Corporate Presentation: https://bit.ly/36qVG5M

INVESTOR INQUIRIES
Melanee Henderson
Investor Relations
Direct: 604-638-3164
Toll-Free: 877-217-8978
Email: mhenderson@millrockresources.com

Categories
Base Metals Energy Junior Mining Project Generators

Millrock Forms Strategic Alliance with Felix Gold and Vends Three Projects, Fairbanks Gold District, Alaska


Press Release


Corporate Presentation

Millrock President & CEO Gregory Beischer commented, “We are very pleased with this development. Millrock envisions a systematic, concerted, and sustained exploration effort in the Fairbanks Gold District with numerous drilling programs in the years to come. The Fairbanks Gold District offers promising chances for new gold deposit discovery success and rewards for our shareholders. The new company, Felix Gold, of which Millrock will become a significant shareholder, is named after Felix Pedroni, the prospector credited with the initial discovery of gold in Fairbanks in 1902. We look forward to our collaboration with Felix Gold and making new gold discoveries in this resurging, under-explored gold camp.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson
, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Millrock Provides Year-End Operations Update, 64North Gold Project, Alaska


Press Release


Corporate Presentation

https://youtu.be/HwXHWNC3-nc

Figure 1   . Millrock / Resolution claims shown in blue.

Millrock President & CEO Gregory Beischer commented, “We are pleased to have been able to execute this exploration program despite the additional risks and challenges posed by COVID. A strong initial drill test of the West Pogo prospects was completed, and new drill targets were defined at other prospects on this district-scale gold project. We look forward to pending assay results and developing exploration plans for 2021.”

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164

Categories
Base Metals Junior Mining Precious Metals Project Generators

Millrock Receives Exploration Permit and Reports Progress at West Pogo Block, Goodpaster Gold Project, Alaska

Millrock Resources

 (TSX.V: MRO | OTCQB: MLRKF)

Millrock President & CEO commented: “Upon successful completion of the drill road and water well by Millrock’s team, the companies will be in a position to execute a $5.0 million drilling program beginning as early as the first quarter of 2020. The compelling drill targets offer shareholders of Millrock and N27 the potential for share price appreciation. New drill intercepts announced recently by Northern Star indicate a gold deposit (named the Goodpaster deposit), with high-grade intersections, just east of Millrock’s West Pogo Block, which is a subset of the overall Goodpaster project. Northern Star’s Goodpaster deposit may trend onto Millrock’s West Pogo block both in the strike directions and down dip.”

INVESTOR INQUIRIES

Investor Relations
Direct: 604-638-3164
Toll Free: 877-217-8978
Email: info@millrockresources.com

Proven and Probable
WEBSITE: provenandprobable.com
YOUTUBE: www.youtube.com/c/provenandprobable
TWITTER: twitter.com/provenprobable

https://youtu.be/6d4ouZI1_fo

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Categories
Base Metals Energy Exclusive Interviews Junior Mining Precious Metals Project Generators

Project Generator Enters Into A $20 Million Exploration Agreement

Millrock Resources

 (TSX.V: MRO | OTCQB: MLRKF)

Gregory Beischer the CEO of Millrock Resources sits down with Maurice Jackson of Proven and Probable to provide shareholders with some fantastic news regarding a new $20 Million exploration binding term agreement with Northern Cobalt to explore on Millrock’s Goodpaster Project in Alaska. This is a watershed moment for shareholders and provides a number of catalysts going forward.

INVESTOR INQUIRIES

Investor Relations
Direct: 604-638-3164
Toll Free: 877-217-8978
Email: info@millrockresources.com

Proven and Probable
WEBSITE: provenandprobable.com
YOUTUBE: www.youtube.com/c/provenandprobable
TWITTER: twitter.com/provenprobable

https://youtu.be/6d4ouZI1_fo