Millrock Sells Stellar Copper Gold Project for Equity Stake in New Alaska Exploration and Development Company -- Polaris Minerals
VANCOUVER, BC--(Marketwired - May 24, 2017) - Millrock Resources Inc. (TSX VENTURE: MRO) (OTCQX: MLRKF) ("Millrock" or "the Company") announces that it has sold its Stellar copper-gold project to Vista Minerals Pty Ltd ("Vista"). The project is located in central, Alaska 15 km north of the Denali Highway and 150 km west of the town of Cantwell. Previously, Vista was earning an 80% joint venture interest in the project under an agreement previously announced here. This agreement is now terminated. The consideration paid to Millrock is 25,140,064 Vista shares which represents approximately 27.7% of the company. Vista and Millrock have also agreed to immediately enter into an agreement with Coventry Resources Limited ("Coventry"). Coventry owns an option on the adjacent Caribou Dome project upon which Coventry has reported a high-grade copper resource that is described in this Coventry press release.