Mr. Gregory Beischer reports

MILLROCK ANNOUNCES DRILLING RESULTS FROM LA NAVIDAD GOLD PROJECT, SONORA STATE, MEXICO AND CORPORATE DEVELOPMENTS

Millrock Resources Inc. has received results from a drilling program completed at the La Navidad gold project in Sonora state, Mexico. The program focused on the northwestern portion of the project. Four holes were drilled at El Tigre prospect, where gold had been detected by soil sampling in the vicinity of historical mine workings. The drill holes tested induced polarization geophysical anomalies and northwest-trending high-angle structures that appear to control mineralization observed at surface. Four further holes tested the El Chupadero prospect where alteration (decalcification and jasperoid replacement of limestone) pointed to the possibility of an intrusion-related gold deposit. In total, eight holes totalling 1,844 metres were drilled in the program. The exploration work was financed under an option to joint venture agreement by Centerra Gold Inc.

The drilling results were generally disappointing. Only a few weakly anomalous gold values were returned. The alteration and mineralization observed at surface appear to weaken in the subsurface. It does not appear that further exploration work on these prospects is warranted.

Millrock has received notification from Centerra that it is terminating the option to joint venture agreements on both the La Navidad and El Picacho gold projects.

Millrock's president and chief executive officer, Gregory Beischer, stated: "Millrock thanks Centerra for the investment they made in advancing these projects. While Centerra has elected to leave, we strongly believe the projects have excellent technical merit. We think they will be attractive to mid-tier or smaller mining companies. Our intention is to seek out new funding partners, but at the same time we will have to balance the cost to hold to La Navidad and El Picacho concessions in the face of Millrock's currently limited cash position."

Corporate developments -- PolarX shares and cash position

Millrock recently sold 10 million PolarX shares for $475,000 (Australian). While Millrock continues to be a strong believer in the Alaska Range project, given Millrock's relatively weak cash position, it made sense to sell the shares. Millrock continues to be entitled to a production royalty, an advanced minimum royalty and certain milestone payments.

Mr. Beischer stated: "Equity markets continue to be very tight. Millrock has to be extremely careful with its remaining funds. Management is cutting costs in all ways possible while the technical team works diligently to secure new funding partners. It is management's view that securing new partnerships will be the best way for the company to reduce overhead costs. The company has an excellent portfolio of gold and copper projects but there is a cost to hold unpartnered projects until new partners are secured. Given the continued weakness of Millrock's cash position (approximately $790,000, as of Jan. 29, 2019, net of near-term accounts receivable and payable), the company is considering all possible alternatives to move forward, including divestiture of Mexico projects and other assets."

Quality control/quality assurance

Millrock adheres to stringent quality assurance/quality control standards. For the La Navidad drill program, drill core samples were kept in a secure location at all times. Rock samples were assayed at the Bureau Veritas laboratory in Hermosillo, Mexico. The sample preparation method code being utilized for the current rock sampling program was PRP70-250. Analysis methods used include FA430 (30 grams/fire assay/ICP) and AQ-200 (aqua regia -- ICP-MS). For every 20 rock samples, a blank sample known to contain less than three parts per billion gold or a standard sample (certified reference materials) of known gold concentration or a duplicate sample was also analyzed. The qualified person is of the opinion that the results received from the laboratory for the samples collected in this drill program are reliable.

Qualified person

The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, president, chief executive officer and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in National Instrument 43-101.

About Millrock Resources Inc.

Millrock Resources 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, the southwest United States and Sonora state, Mexico.

We seek Safe Harbor.