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Millrock Announces Private Placement Financing

VANCOUVER, BC--(Marketwired - May 04, 2016) -  Millrock Resources Inc. (TSX VENTURE: MRO)

Not for distribution to United States newswire services or for dissemination in the United States.

Millrock Resources Inc. (TSX VENTURE: MRO) ("Millrock") announces that it plans to raise gross proceeds of up to $3,509,000 through a non-brokered private placement of up to 12,100,000 units (the "Units") priced at $0.29 per Unit. Each Unit will consist of one common share and one share purchase warrant (the "Warrants"). Each Warrant will entitle the holder to purchase one additional common share at a price of $0.44 for a term that is approximately the third anniversary of the closing date. Finder's fees of 6% cash or the equivalent in Units may be paid in connection with this financing. The securities issued under this financing will be subject to a hold period of four months from the closing date. Millrock intends to use the proceeds for exploration and development of its properties and for general corporate purposes. This financing is subject to receipt of TSX Venture Exchange acceptance.

The technical information within this document has been 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 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, Newcrest Gold First Quantum, Teck, Kinross, Vale, Inmet and Altius.

ON BEHALF OF THE BOARD
"Gregory Beischer"
Gregory Beischer, President & CEO

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

"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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