Millrock Purchases Exploration Operations Facility in Stewart Golden Triangle, BC, Canada
VANCOUVER, BC--(Marketwired - August 30, 2016) - Millrock Resources Inc. (TSX VENTURE: MRO) ("Millrock") announces it has purchased a 100% interest in an exploration operations facility in the town of Stewart, British Columbia from J. Calder Resources Inc. and Geofine Exploration Consultants. The facility, which consists of a house / office, a large storage garage, and core cutting facility, is situated on eight real estate lots. The facility sits on a large gravel pad and the lot is securely fenced for safe storage of drill core and equipment. An array of exploration equipment was also included in the purchase.
Millrock President & CEO, Gregory A. Beischer, stated: "This facility will make an excellent base of operations for continued exploration of Millrock's existing projects in the Golden Triangle, and for those we generate in the future."
Under the terms of the agreement of purchase and sale, Millrock will pay a total of CAD$300,000 over two years and issue 50,000 Millrock shares. The payment shares will be subject to a hold period of four months from the date of issuance.
The purchase and sale agreement is subject to approval by the TSX Venture Exchange.
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 primarily comes from 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 and Altius.
ON BEHALF OF THE BOARD
Gregory 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.
"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."
Contact
FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson
Investor Relations
Phone: (604) 638-3164
Toll Free: (877) 217-8978
Email: mhenderson@millrockresources.com
Gregory A. Beischer
President & CEO
(604) 638-3164
Millrock Resources Inc.
800 - 789 West Pender Street
Vancouver, BC V6C 1H2