Millrock Receives Cash and Share Payments; Resolution Minerals Earns 30% Interest in Millrock’s 64North Gold Project, Alask...
28 Januar 2021 - 2:00AM
Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) ("Millrock" or
the "Company") announced today that Resolution Minerals Ltd
("Resolution” or “RML”) has completed the requirements to earn an
initial 30% interest in the 64North Gold Project located in the
Goodpaster Mining District of interior Alaska.
Resolution has exceeded the Year 1 exploration expenditure
requirement of US$5.0 million, has paid Millrock US$50,000, and
issued a further share payment of 10 million RML shares to
Millrock. Resolution can earn up to a 60% interest in the project.
The terms of the December 2019 agreement can be viewed at this
link: Definitive Exploration Agreement.
Resolution has indicated that it intends to continue
sole-funding exploration on the project to increase its ownership
interest and will operate exploration in 2021. Based on work
completed in 2020, drilling is being planned at the Sunrise and
Boundary prospects this year.
Qualified PersonThe scientific and technical
information disclosed within this document has been prepared,
reviewed, and approved by Gregory A. Beischer, President, CEO, and
a director of Millrock Resources. Mr. Beischer is a qualified
person as defined in NI 43-101.
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
recognized as the premier generative explorer in Alaska, holds
royalty interests in British Columbia, Canada, and Sonora State,
Mexico, and is a significant shareholder of junior explorer ArcWest
Exploration Inc. as well as a shareholding in Resolution Minerals
Limited. 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: EMX Royalty, Centerra Gold, First Quantum, Teck,
Kinross, Vale, Inmet and, Altius as well as junior explorers
Resolution, Riverside, PolarX, and Felix Gold.
ON BEHALF OF THE BOARD“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:Melanee
Henderson, Investor Relations(604) 638-3164(877) 217-8978
(toll-free)
Some statements in this news release may contain forward-looking
information (within the meaning of Canadian securities legislation)
including without limitation the intention to mount further
exploration including drilling in 2021. 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.
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