Millrock Resources Inc.
TSX VENTURE : MRO

Millrock Resources Inc.

December 03, 2009 09:40 ET

Millrock Reports Chip Sampling Results From Estelle Project, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2009) - Millrock Resources Inc. (TSX VENTURE:MRO) ("Millrock" or the "Company") is pleased to announce results of its summer 2009 sampling program at its Estelle property. The Company is targeting bulk tonnage intrusive-related gold deposits at the project located 160 kilometres northwest of Anchorage, Alaska.

In 2008 Millrock outlined two large zones highly anomalous in gold by sampling talus fines along mountain slopes at the Estelle property. At the Shoeshine occurrence, a gold-arsenic anomaly over one kilometre in length was defined. Within the anomaly, talus boulders exhibiting stockwork and breccia style mineralization were found to contain gold in amounts ranging from 1.0 to 5.0 g/t gold. Similar anomalous conditions and mineralization in talus were discovered at the Oxide Ridge occurrence 25 kilometres to the north (see Millrock November 13, 2008 press release).

Prospecting and sampling in July 2009 resulted in the discovery of porphyry-style gold mineralization in bedrock at both the Shoeshine and Oxide Ridge occurrences. Subsequently, chip sampling was done across portions of the mineralized zones.

At Shoeshine, a zone of porphyry-style gold mineralization, made up of stockwork veining, and pervasive alteration, is partially exposed on a steep slope. Chip sampling across the exposed portion of the zone averaged 1.2 g/t over 12.1 metres. A nearby zone of sheeted quartz veinlets was chip sampled in two separate locations 30 metres apart. At the first location the zone grades 11.7 g/t over 1.5 metres and at the second location the grade is 9.9 g/t over 1.5 metres. The mineralization occurs in a highly altered granite. Pathfinder elements show a clear zonation pattern with a base metal halo surrounding the area of strongest gold mineralization discovered so far.

At Oxide Ridge, multiple zones of mineralization were located in bedrock. Chip sampling done across one of the zones returned assay results averaging 1.0 g/t over 22.86 metres. The zones appear to be structurally controlled and consist of quartz stockwork with arsenopyrite.

"These results are encouraging," stated VP of Exploration Philip St. George. "We have observed a porphyry geochemical pattern centered on porphyry-style alteration and mineralization. Gold values exceeding one gram per tonne over significant lengths have been defined by chip samples in bedrock. The surrounding soil anomalies indicate a large mineralizing system in what is interpreted as the upper portions of a gold porphyry system. An aggressive drilling program is warranted."

Results of the 2009 chip sampling program exceeding 0.5 g/t are tabulated below:

ProspectTraverseLength (m)Au g/t
    
ShoeshineSSA10.70.8
ShoeshineSSB12.20.6
ShoeshineSSC12.20.6
ShoeshineSSD22.90.8
 including 1.59.4
ShoeshineSSE12.21.2
ShoeshineSSF27.40.6
 including 3.03.4
ShoeshineSSG1.511.7
ShoeshineSSH1.59.9
    
Oxide RidgeORA22.91.0
Oxide RidgeORB27.40.6

The style, age and geological setting of the Estelle mineralization appears similar to that of Donlin Creek, a western Alaska gold deposit estimated to contain (according to a NovaGold press release dated April 28, 2009) proven and probable reserves of 29.3 million ounces of gold and an additional 10 million ounces of gold resources of various categories. A summary description of the Estelle project can be viewed at http://millrockresources.com/index.php/projects/estelle/.

The exploration work reported in this press release was supervised by Gregory Beischer the Company's President and Chief Executive Officer and a Qualified Person as defined by NI 43-101, who also prepared and approved the information contained in this release. Chip samples, each weighing approximately 2.5 kilograms, were collected and placed in sealed bags and delivered to ALS Chemex in Fairbanks, Alaska for analysis. Gold was analyzed by atomic absorption with a gravimetric finish. The samples were also analyzed for a suite of 41 elements by the ICP-MS method. A sample quality control/quality assurance program was conducted. The Company randomly inserted blank samples and standard samples with known gold content within the submitted chip samples and verified the results obtained. ALS Chemex is an ISO 9001:2000 certified lab, and as such, has its own stringent quality control/quality assurance program.

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."

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