Millrock Resources Inc.
TSX VENTURE : MRO

Millrock Resources Inc.

April 16, 2009 09:30 ET

Millrock and Vale Exploration Canada Inc. Working at Galiuro Copper-Gold Project, Arizona

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2009) - Millrock Resources Inc. (TSX VENTURE:MRO) ("Millrock" or the "Company") is pleased to announce the Company has successfully collaborated with its Galiuro project partner, Vale Exploration Canada Inc. ("VEC"), an affiliate of Vale Inco Limited, each a wholly-owned subsidiary of Companhia Vale do Rio Doce ("VALE") (NYSE:RIO), to complete a March 2009 geological mapping program. An airborne geophysical survey is set to take place in April 2009. These exploration programs are being carried out on the Galiuro property to obtain information required for an initial drilling campaign on the property, which is located in southeastern Arizona.

Field work for the mapping program occurred from March 4 to March 19, 2009 and was based out of Mammoth and Klondyke, Arizona. The exploration team consisted of two crews working from opposite sides of the large property to accomplish the goals of the program. Millrock is the exploration operator with VEC staff seconded to the project. The work was efficiently carried out using handheld computers with internal GPS receivers and pre-loaded digital base maps. Preliminary mapping results highlights include:

- Estimated thickness of post-mineral Tertiary volcanics of less than 250 meters

- Existence of porphyry-style alteration in pre-mineral rocks on the property

- Presence of porphyry copper alteration on both sides of volcanic cover

- Epithermal copper occurrences cluster near major structures, and may be related to porphyry copper mineralization at depth

Millrock and VEC have chosen to fly an airborne Z-Axis Tipper Electromagnetic (ZTEM) and magnetic survey of the Galiuro property. ZTEM was selected for its ability to achieve unparalleled resolution and depth of investigation beneath volcanic cover. The system is well suited to imaging buried porphyry deposits and magnetics will aid in geological interpretation. The airborne ZTEM and magnetic survey has been contracted to Geotech Ltd. of Aurora, Ontario, Canada and is on-track to occur during April 2009.

The target at the Galiuro project is a giant, high-grade porphyry copper-gold-molybdenum deposit that can be mined by open pit or block caving mining methods. The project is situated 80 kilometers southeast of the Resolution deposit, which is currently being explored by Rio Tinto, and is reported to contain an Inferred Resource of 1.34 billion tonnes containing 1.51% copper and 0.04% molybdenum. The Galiuro claim block is situated on the San Manuel-Copper Creek porphyry copper trend. The Copper Creek mine is situated just to the west of the claim block and a very large, intense alteration zone occurs to the east. The claims are largely underlain by Tertiary-aged post mineralization volcanic rocks. Magnetic data suggests that intrusive complexes occur beneath the volcanic cover. Epithermal copper mineralization occurs along deep seated structures within the volcanic rocks on the property, and may have been related to older Laramide-aged porphyry mineralization at depth.

The Galiuro property is 16 kilometers east of Mammoth, Arizona and 80 kilometers northeast of Tucson. Topography is steep and rugged at elevations ranging from 4200 to 5500 feet. Paved highway 77 passes 18 kilometers west of the claim block and access to the edge of the claim block is provided by four wheel drive access.

Gregory Beischer, the Company's President and Chief Executive Officer and a Qualified Person as defined by NI 43-101, prepared and approved the information contained in this release.

About Vale Exploration Canada Inc.

VEC is a wholly-owned subsidiary of VALE, the world's second largest mining company by market capitalization with its headquarters in Brazil. VALE reported revenues of US$38.509 billion and net earnings of US$13.218 billion as of December 31, 2008. VALE is committed to the pursuit of sustainable growth by operating with respect for the natural environment and being an ethically and socially responsible company.

About Millrock Resources Inc.

Millrock is a 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. 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.

The TSX Venture Exchange does not accept 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