VANCOUVER, BC--(Marketwired - January 31, 2017) - Millrock Resources Inc. (TSX VENTURE: MRO) (OTCQX: MLRKF) ("Millrock" or "the Company") is pleased to announce that it has sold a concession named Violeta to Riverside Resources Inc. (TSX VENTURE: RRI) ("Riverside").
Consideration paid by Riverside for the concession is $10,000 and 100,000 Riverside shares. Additionally, Riverside has granted a 0.5% Net Smelter Returns royalty to Millrock. The agreement is subject to approval by the TSX Venture Exchange.
Gregory A. Beischer, Millrock's President & CEO commented: "This concession is favourably situated geologically and sits immediately adjacent to larger tracts of land that are known to host some interesting gold occurrences. In a larger, district play, Violeta could be a valuable block for Riverside. Millrock is pleased to now own some Riverside shares as we believe this fellow generative explorer will continue to succeed and that the shares will someday be much more valuable."
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 active in Alaska, British Columbia, the southwest USA and Sonora State, Mexico. 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: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius and Riverside.
ON BEHALF OF THE BOARD
Gregory A. Beischer, President & CEO
Some statements in this news release contain forward-looking information. 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.
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