Millrock Announces Financing and Share Consolidation

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 22, 2014) -

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Millrock Resources Inc. (TSX VENTURE:MRO) ("Millrock" or the "Company") announces that it plans to raise gross proceeds of up to $3,500,000 through the sale of 70,000,000 units (the "Units") priced at $0.05 per Unit. Each Unit consists of one common share and one share purchase warrant (the "Warrants"), with each Warrant entitling the holder thereof to purchase one additional common share at a price of $0.07 per share for a period of two years, and thereafter at a price of $0.10 per share for an additional period of three years. Millrock expects to pay finder's fees 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 also announces that immediately following the closing of the financing, it will consolidate its stock on a 10:1 basis. Assuming no further share issuances except pursuant to the private placement announced in this news release, Millrock will have approximately 18,413,988 common shares issued and outstanding (approximately 29,959,588 on a fully diluted basis, excluding any finder's warrants paid in connection with this financing) immediately following the consolidation.

The financing and share consolidation are subject to final approval from the TSX Venture Exchange. Proceeds from the financing will be used for project generation, project marketing to partners and for general corporate purposes. Upon completion of the financing, the Company will have approximately $4.3 million in its treasury.

About Millrock Resources Inc.

Millrock Resources Inc. is a premier project generator to the mining industry. In the search for world-class metallic mineral deposits in mineral-rich Alaska, southwest USA, and Mexico, 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. Millrock currently has twenty-two active exploration projects, eight gold-copper and zinc properties in Alaska, a porphyry copper prospect in Arizona, a uranium project in New Mexico, and twelve gold, silver and copper projects in Mexico. Funding for 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: First Quantum, Teck, Kinross, Vale, Inmet and Altius.

ON BEHALF OF THE BOARD

Gregory Beischer, President & CEO

Forward-looking information

Some statements in this news release contain forward-looking information including the statement that the Company plans to complete an equity financing and share consolidation. 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 Company's ability to sell the Units to qualified investors and obtaining TSX Venture Exchange acceptance to the planned financing and share consolidation.

"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."