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Corporate Presentation for Millrock Resources March 2014
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All technical information contained in this presentation was prepared, reviewed or approved by Gregory A. Beischer, President & CEO of Millrock Resources Inc. Mr. Beischer is a Qualified Person as defined in NI 43-101.
Qualified Person Statement
This presentation includes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statement, other than statements of historical fact, included herein including, without limitation, statement regarding anticipated completion of engineering studies, potential results of drilling and assays, timing of permitting, construction and production and other milestones, and Millrock’s future operating or financial performance are forward-looking statements. Estimates of reserves and resources area also forward-looking statements in that they involve estimates of the mineralization that would be encountered, based on interpretation of drilling results and certain assumptions, if a deposit were developed and mined. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Millrock’s expectations include financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; the need for cooperation of government agencies and Native groups in the development of Millrock’s properties; the need to obtain permits and governmental approvals; risks of operations such as accidents, equipment breakdowns, bad weather, non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates; unexpected cost increases, fluctuations in metal prices and currency exchange rates, and other risks and uncertainties disclosed in Millrock’s Annual Information Form for the current year, filed with the Canadian securities and regulatory authorities, and in other Millrock reports and documents filed with applicable securities and regulatory authorities from time to time. Millrock’s forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Millrock assumes no obligation to update forward-looking statements of management beliefs, opinions, or other factors should they change.
Forward-Looking Statements
Capital Structure
Management
Projects:
• Commodities
• gold, copper, uranium
• Jurisdictions - Alaska, Southwest USA
• Geologic Merit – porphyries
News Flow
Project Generator Business Model
Pure Exploration, Early Stage Discovery Specialists
Key Investment Highlights
Early stage exploration has the highest risk, but also the highest potential reward
Discovery success creates tremendous increases in share value
Few discoveries are made – risk is high
PGM increases exposure to discovery and mitigates risk by:
Developing multiple projects
Forming multiple joint ventures
Highest risk money is the first round of drilling is funded by JV partners
Millrock shareholder’s money is used for project generation
“Minimize risk but keep shareholders exposed to the
rewards of discovery.”
Risk vs. Reward
Project Generator Model
2009 2010 2011 2012 $-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
Cashed Recovered From Partners Exploration Expenditure
Since adopting the Project Generator Model in 2009, Millrock has recovered all or a significant portion of yearly exploration
expenditures.Since inception, Millrock has recovered 87% of all expenditures.
62.1%
110.8%
101.9%
94.9%
Net Exploration Cash-flow
33%
10%
28%
28%
Projected Total 2013 Exploration Budget: $3.0 Million
Acquisition
Retention
2013 Exploration Expenditures
10.0% 10.0%
56.0%
$15.3MIn exploration
$9.5MIn exploration
$3.0MIn exploration
90%Partner Funded
90%Partner Funded
44%PartnerFunded
2011 2012 2013
Percentage of partner fundingPercentage of partner funding
Exploration Expenditure
2010 2011 2012 2013 $-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
AltiusRyanBrixtonCrescentKinrossValeFQMLTeckMillrock
Exploration Expenditure
$1.5M cash on hand
Mgmt. fees & option payments offset
overhead
Share Price (March 2014) ~$0.08
3-Month Average Volume: 40,410
52 week Hi $0.22, Lo $0.06
Major Shareholders
Management10%Altius20%Kinross 6%Teck 3%Strong Hands25%
Share Structure
Shares Outstanding86.7M
Options 5.5MWarrants 19.2MFully Diluted
111.5M Market Cap
$7.0M
Capital Structure
GREGORY BEISCHER
President & CEODirector
SARAH WHICKERChief OperatingOfficer
PHIL ST. GEORGEChief ExplorationOfficer
KEITH GRANBERRY
Chief FinancialOfficer
Management Team
DARRYL CARDEY
Finance Executive
ROLAND BUTLERGeologist
DR. CHARLES HAWLEY
Geologist
LARRY COOPERFinance Executive
PETER CHILIBECKAttorney
DAVID VOLKERTGeologist
Board of Directors
Juneau
Anchorage
Fairbanks
Nome
ESTELLE
CRISTO
STELLAR
FORTY MILE
Millrock Properties
Highways
HUMBLE
AUDN
AK PENINSULA
Projects - Alaska
Alaska: Heaven for Geologists
Ivanoff Bay
Perryville
Chigniks
Sand Point
Alaska Peninsula Summary
Main Occurrences of Interest:• Bee Creek• Kawisgag• Mallard Duck
• Marshinlak
Kawisgag
Bee Creek
Mallard Duck Bay
Pyramid
Marshinlak
Alaska Peninsula Summary
• Potassic alteration zone centered on quartz diorite porphyry unit
• Multi-phase quartz diorite stock (~ 21 Ma) intrudes mafic volcanic rocks
• Disseminated and vein-hosted pyrite, chalcopyrite, molybdenite
• Abundant magnetite in potassic alteration zone
Historic work on property:• Recon surface sampling• Regional scale mapping• IP survey (1 line)• Ground magnetic survey (1 line)
Prospect Highlights:
• Evidence for large hydrothermal system
• > 15 sq. km. of alteration from field observations and ASTER imagery
Mallard Duck Bay Prospect
• Zoned potassic, sericitic and propylitic alteration in surface exposures
• Multi-phase diorite stock (~ 3.6 Ma) intrudes hornfelsed sediments (Jurassic Naknek Fm)
• “A” (biot-qtz-py-cp) and “B” (qtz-mo-py) style veinlets and disseminated sulfides
• Geochemical anomalies in Cu, Mo, Au
Historic work on property:• Recon surface sampling• Regional and property scale mapping• IP survey (3 lines)• Detailed ground magnetic survey• Drilling (9 holes)
Prospect Highlights:
• Broad geochemical anomaly in Cu in soil
• IP anomaly in valley remains untested
Bee Creek Prospect
Hole IDInt. (m)
Au ppm
Cu ppm
Mo ppm
Comments
BC06-08 34.0 0.085 2584 41 Hfls + less Qz Diorite
BC06-09 118.0 0.126 3098 86Hfls + less Qz Diorite and Andesite
BC06-09 76.0 0.166 4002 93Centered on 2 faults, small And dike
BC06-09 40.0 0.212 5106 81 Hfls, centered on 2 faults
BC06-09 20.0 0.255 6607 76Second. Cu, centered on upper fault
• Bear Creek Mining (1976) – 5 holes• BC76-02 – 500’ avg – 0.25% Cu, 113 ppm Mo,
0.062 ppm Au
• Full Metal Minerals/Metallica (2006) – 4 holes• BC06-06 and BC06-07 – no sample recovery due
to poor drilling conditions
A-veinlet stockwork cutting intensely biotized hornfels in hole B-2
A-veinlets (quartz-K-feldspar-pyrite) stockwork is cut and offset by cm-thick quartz-MoS “B” veinlet
Bee Creek Prospect: Drilling
• Zoned potassic, sericitic and propylitic alteration in surface exposures
• Multi-phase quartz diorite intrusive stock intrudes (~ 7 Ma) hornfelsed sediments (Eocene Tolstoi Fm)
• “A” (biot-qtz-py-cp) and “B” (qtz-mo-py) style veinlets and disseminated sulfides
• Broad geochemical anomalies in Cu, Mo, Au
Historic work on property:• Recon surface sampling• Regional and property scale mapping• Recon ground magnetic survey
Prospect Highlights:
• Three zones of potassic alteration in two cirque valleys
• Ready for drill testing
Kawisgag Prospect
Quartz diorite
Potassic alteration zones
D
B
A
C
Kawisgag Prospect: Geoogy
Done so far: Complete compilation of all existing dataIdentify data gaps – layout multi-year programSystematic property-wide exploration approach - Partner
Next steps:Mallard Duck Bay• Surface sampling• Mapping• Drill testing
Kawisgag• Magnetics• Surface sampling• Mapping in southern cirque• Drill testing
Bee Creek• Mapping• Surface sampling• Drill testing
Next Steps
Mars Prospect- possible Cu-Au porphyry system
K-M Mine- Minor past production reported
Titan Prospect- Cu anomaly in volcanics
North Moonwalk Prospect- Granodiorite: 30.4 g/t Au rock
Zackly Cu–Au Skarn- Historic copper-gold
estimate – see notes
South Moonwalk Prospect- Soils average: 885 ppm Cu
Pluto Prospect- Au anomaly near receding glaciers
Stellar: Deposits & Showings
KM Mine
Moonwalk
Venus
TitanGemini
Mars
Jupiter
Zackly
Stellar: Soil Geochemistry
HydrothermalSystems
KM Mine
Moonwalk
Venus
TitanGemini
Mars
Jupiter
Zackly
Stellar
KM Mine
Moonwalk
Venus
TitanGemini
Mars
Jupiter
Zackly
Stellar
Main Skarn
2 km x 0.8 km area with average of914 ppm Cu in soils.
E
Stellar: Coppers in Soil
KM Mine
Moonwalk
Venus
TitanGemini
Mars
Jupiter
Zackly
Stellar
Gossanous gully 1.2 km long sampled:• Average 462 ppm Cu in soils
Center of magnetic anomaly:• Shreddy biotite altered diorite? covered with glassy limonite and cpy veins (porphyry?)• 0.51% Cu and 0.21 g/t Au
Copper stained ridge 950 m long:• Average 763 ppm Cu in soils
7.40% Cu in float rock
Mars Prospect: Porphyry
KM Mine
Moonwalk
Venus
TitanGemini
Mars
Jupiter
Zackly
Stellar
Juneau
Anchorage
Fairbanks
Nome
ESTELLECRISTO
STELLAR
FORTY MILE
Millrock Properties
Highways
HUMBLE
AUDN
PENINSULA
Projects: Alaska
Oxide Prospect
RPM Prospect
Kahiltna & Estelle: Claims
Oxide Ridge
>750 ppb Au in soils
300 m
1 g/t Au over 22.9 m bedrock
Estelle: Oxide Prospect
2.5 kmOXIDE NORTH OXIDE RIDGE
Discovery hole387 m @ 0.43 g/t gold
SE12-00441.5 m @1.1 g/t
Strong IP
Oxide: 2012 Drilling
SE12-00441.5 m @1.1 g/t
SE12-001387 m @ 0.4 g/t
Oxide: 2013 IP
1.14 g/t Au over 41.45 m
Oxide: Drill Hole SE12-044
Kahiltna & Estelle: Claims
1.02 g/t Au over 102.11 m
RPM Prospect: 2012 Drilling
2.07 g/t Au over 21.94 m
1.02 g/t Au over 102.11 m
RPM Prospect: 2012 Drilling
GALIURO
SAN JOSEDRY MOUNTAIN
MONSOON
Projects: Arizona
San Jose
Lone Star
Dos PobresSan Juan
Dry MountainMorenci
Trend
Saff
ord
Trend
Sanchez
Sol
Morenci
San Jose
Millrock Property
Porphyry deposit
Monsoon
Projects: Arizona
Projects: Monsoon
Projects: Monsoon
Map of New Mexico
New Mexico: Catron Property
Ox Zone
Catron: Claims & Deposits
Gulf Minerals discovered deposit and drilled the resources in 1970’s
Shallow sandstone hosted uranium/vanadium deposits
5:1 ratio – V:U3O8
Resource size not known
Potential In-Situ Recovery (ISR)
Catron: New Mexico
Winter 2013: Agreement on AK PeninsulaAgreement on Catron, NM?Drilling on CatronAgreement on Stellar
Summer 2014: Exploration and drilling at AK Peninsula
Exploration and drilling at Stellar
Catalysts
Price / Development stage
Market change (?)
News flow – Drilling
Projects with strong chance of success
Gold, Copper, Uranium
Why Invest Now?
Brien Lundin – Gold Newsletter (6/28/2012)"Millrock continues to strike quality joint venture deals to explore its large stable of projects in Alaska and Arizona. . .this prospect generator consistently attracts quality joint venture partners like Inmet Mining Corp. and Vale Mining, and that fact alone speaks volumes about Millrock Resources' ability to find and fund projects of merit in its core exploration areas.”
Trader Tracks – Roger Wiegand (5/1/2011)“Capitalizing on its Project Generator Model, Millrock has tremendous potential to create substantial shareholder value through the discovery of world-class deposits.”
Coverage
Jay Taylor (5/11/2012)"The company has some very large companies as joint venture partners, which I always like to see, because the big guys are looking for major deposits; major deposits make small market cap companies' share prices fly off the charts.”
Shane Lasley – North of 60 Mining (6/24/2012)“The project-generator model is allowing the company to capitalize on its exploration expertise and first-hand geological knowledge of Alaska and southeastern Arizona. . .and Millrock's skillful execution of the project generator model allows it cover the larger portion of its overhead through the collection of fees from its partners."
Coverage
Anchorage:P.O. Box 200867Suite C – 719 E 11th Ave.Anchorage, AK 99520Office (907) 677-7479Fax: (907) 677-3599
Vancouver:Suite 800 - 789 W. Pender St.Vancouver, BC V6C 1H2Office: (604) 638-8164Fax: (907) 677-3599TF: (877) 217-8978
Contact Information
