Millrock Announces Close of Non-Brokered Private Placement

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MILLROCK ANNOUNCES CLOSE OF NON-BROKERED PRIVATE PLACEMENT

VANCOUVER, BRITISH COLUMBIA, November 1, 2012 – Millrock Resources Inc. (MRO – TSX:V) announces that it has closed the non-brokered private placement announced October 23, 2012 and October 30, 2012 for gross proceeds of $2,200,000.

Millrock issued 8,800,000 units at $0.25 per unit. Each unit is comprised of one common share and one share purchase warrant with each warrant exercisable into one additional common share at a price of $0.35 until October 31, 2015.

Finder’s fees of $61,250 and 245,000 Finder’s Warrants were paid in connection with the financing. Each finder warrant is exercisable into units at an exercise price of $0.25 for a period of three years, the units having the same terms as described above.

All of the securities issued hereunder are subject to a four month hold period and may not be traded until March 1, 2013.

Proceeds from the financing will be used for project marketing, generation of new projects and general corporate purposes.

About Millrock Resources Inc.

Millrock Resources Inc. is a premier project generator to the mining industry. In the search for worldclass gold and copper deposits in mineral rich Alaska and Arizona, 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 and attendant shareholder dilution taken on by most exploration companies. Millrock currently has twelve active exploration projects, eight gold-copper properties in Alaska, and four porphyry copper prospects in Arizona. With funding primarily coming from its joint venture partners, Millrock is on track to carry out exploration programs with a total value of more than US$11 million in 2012. Business partners of Millrock include some of the leading names in the mining industry: Kinross, Teck, Vale, Inmet and Altius, as well as junior explorer Crescent Resources.

ON BEHALF OF THE BOARD

"Gregory Beischer"

Gregory Beischer, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT

Gregory A. Beischer (604) 638-3164 Millrock Resources Inc.

750 World Trade Centre 999 Canada Place Vancouver, BC V6C 3E1

750 World Trade Centre | 999 Canada Place | Vancouver, BC V6C 3E1 Tel: 604 638 3164 | Fax: 604 688 9620 | www.millrockresources.com Some statements in this news release contain forward-looking information, including without limitation statements as to planned expenditures and exploration programs. 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 completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

"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."