Millrock Resources Inc.
TSX VENTURE : MRO

Millrock Resources Inc.

October 05, 2009 14:13 ET

Millrock Resources Inc.: Tranche Two of Non-Brokered Private Placement Closed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2009) - Millrock Resources Inc. (TSX VENTURE:MRO) announces that it has closed the second tranche of a non-brokered private placement announced August 31, 2009 for gross proceeds of $317,500.

Millrock issued 1,587,500 units at $0.20 per unit. Each unit is comprised of one common share and one-half of one share purchase warrant with each whole warrant exercisable into one additional common share at a price of $0.30 until April 5, 2011.

Finders' fees of 8% were paid on a portion of the financing as follows: $25,400 cash and 127,000 finders' warrants were issued. Each finder warrant is exercisable into one common share at a price of $0.30 until April 5, 2011.

The warrants and the finders' warrants include a provision for an accelerated expiry date in the event that the closing price of the shares on the Exchange exceeds $0.40 for 10 consecutive trading days.

All of the securities issued hereunder are subject to a four month hold period and may not be traded until February 6, 2010.

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

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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