Millrock Resources Inc.

Millrock Resources Inc.

September 18, 2009 11:49 ET

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

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2009) - Millrock Resources Inc. (TSX VENTURE:MRO) announces that it has closed the first tranche of a non-brokered private placement announced August 31, 2009 for gross proceeds of $1,055,000.

Millrock issued 5,275,000 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 March 17, 2011.

Finders' fees of 8% were paid on a portion of the financing as follows: $72,000 cash and 360,000 finders' warrants were issued. Each finder warrant is exercisable into one common share at a price of $0.30 until March 17, 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 January 18, 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.


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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