Millrock Resources Inc.
TSX VENTURE : MRO

Millrock Resources Inc.

July 08, 2009 09:30 ET

Millrock Exploration Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2009) - Millrock Resources Inc. (TSX VENTURE:MRO) ("Millrock" or the "Company") is pleased to announce that its exploration crews have initiated activities in Alaska. Work in July will focus on the Company's Estelle project, and on project generation activities to be carried out under the Strategic Alliance with Altius Minerals Corp. (TSX:ALS), through its wholly-owned subsidiary Altius Resources Inc. ("Altius").

At the Estelle Project, Millrock will follow up on discoveries made in 2008, and define targets in anticipation of a possible September drilling program. Work last year revealed the presence of widespread disseminated arsenopyrite mineralization with strong gold values. The style and geological setting of the mineralization is very similar to that of Donlin Creek a western Alaska gold deposit estimated to contain proven and probable reserves of 29.3 million ounces of contained gold and an additional 10 million ounces of gold resources of various categories (NovaGold press release April 28, 2009). A summary description of the Estelle project can be viewed at http://millrockresources.com/index.php/projects/estelle/.

Elsewhere in the state, Millrock is conducting reconnaissance surveys within one of five Areas of Interest subject to a strategic alliance with Altius. The work will focus on gold targets developed through geological research. The objective is to generate high-potential gold projects that can be successfully marketed to joint venture partners. The partners will fund exploration to earn an interest in the strategic alliance projects.

About Millrock Resources Inc.

Millrock is TSX Venture Exchange listed company intent upon the discovery of high value mineral deposits, with a focus on Alaska gold deposits and Arizona copper-gold porphyries. The Company follows a project generator - joint venture business model that capitalizes on Millrock's knowledge and ability in two outstanding mining jurisdictions. This model shares risk by partnering with other companies that invest capital to move exploration projects toward development and production. Millrock currently has four active exploration projects in Alaska, and three in Arizona.

ON BEHALF OF THE BOARD

Gregory Beischer, President & CEO

Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. 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 completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Contact Information

  • Millrock Resources Inc.
    Patrick De Witt
    Manager, Investor Relations
    (604) 638-3164
    (604) 688-9620 (FAX)
    www.millrockresources.com