The Prospector News

Millrock Adds to Treasury From Royalty Sale

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Millrock Adds to Treasury From Royalty Sale

 

 

 

 

 

Millrock Resources Inc. (TSX-V: MRO) (OTCQB: MLRKF) reports that it has sold a portfolio of royalties on exploration projects in British Columbia, Canada and Sonora State, Mexico to Osisko Gold Royalties Ltd. Gross proceeds from the sale are $1.2 million.

 

Millrock President & CEO, Gregory Beischer, commented: “Prevailing market challenges make an equity financing difficult and raising capital in this manner would be highly dilutive to shareholders. Sale of non-core assets is the best way to bolster Millrock’s treasury for continued project generation activities, while we wait for assay results to roll out from two major Alaska gold drilling projects in which Millrock holds an interest.”

 

PROJECT NAME NSR%
Mexico Royalties  
Santa Rosalia 0.5%
El Valle 0.5%
El Pima 0.5%
Violeta 0.5%
Guadalcazar 0.5%
   
British Columbia Royalties  
Todd Creek 1.5% to 2.0%
Oweegee Dome 1.5% to 2.0%
Willoughby 1.5% to 2.0%

Table 1. Royalties sold to Osisko for $1.2 million.

 

The right to any proceeds stemming from the exercise of any royalty buy backs pertaining to the British Columbia royalty properties has been assigned to Osisko. Additionally, Millrock has granted certain rights to Osisko in relation to royalties currently held, or that may be created, by Millrock during the next five years.

 

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, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold 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, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.

 

Posted August 30, 2022

Share this news article

MORE or "UNCATEGORIZED"


Forte Minerals Closes C$5.7 Million Strategic Placement, Welcomes Long-Term Partner

Forte Minerals Corp. (CSE: CUAU) (OTCQB: FOMNF) (Frankfurt: 2OA),... READ MORE

July 23, 2025

NevGold Announces Up to 92% Antimony Recovery From Positive Metallurgical Testwork Program at Oxide Gold-Antimony Limo Butte Project in Nevada

NevGold Corp.  (TSX-V:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) is ple... READ MORE

July 23, 2025

Red Pine Completes 2024–25 Drilling Program & Initiates Preliminary Economic Assessment Work at Wawa Gold Project

Red Pine Exploration Inc. (TSX-V: RPX) (OTCQB: RDEXF) is pleased ... READ MORE

July 23, 2025

MAG Announces Second Quarter 2025 Production From Juanicipio

MAG Silver Corp. (TSX:MAG) (NYSE: MAG) reports production from Ju... READ MORE

July 23, 2025

Onyx Gold Intersects 52.2 M of 2.2 g/t Gold and 50.4 M of 1.9 g/t Gold at Argus North Zone, Munro-Croesus Project

Mineralized Zone Extended to Surface Now Reaches Over 200 M Verti... READ MORE

July 23, 2025

Copyright 2025 The Prospector News