Monarch Announces the Results of Its Annual Meeting

Rhea-AI Summary

Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) announced the results of its annual general meeting held virtually on December 15, 2021. All nominees listed in the management proxy circular were re-elected as directors, with 47.54% of shares represented. Notably, Jean-Marc Lacoste received 99.95% approval, while the appointment of KPMG LLP as external auditors was also ratified. Monarch owns four mining projects with significant gold resources totaling 862,375 ounces in the Abitibi region.

Positive

• All director nominees re-elected with high approval percentages: Lacoste 99.95%, Bouchard 99.92%.
• Appointment of KPMG LLP as external auditors approved.
• Monarch owns significant gold resources: 478,982 ounces measured and indicated, and 383,393 ounces inferred.

Negative

• None.

MONTREAL, Dec. 15, 2021 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQX: GBARF) is pleased to announce the results of its annual general meeting of shareholders, which was held today in a virtual-only format. All the nominees listed in the Corporation’s management proxy circular dated November 9, 2021, were re-elected as directors.

Shareholders holding 37,096,883 shares, or 47.54% of Monarch's issued and outstanding shares were present or represented by proxy at the meeting.

Detailed results of the vote for the election of directors are set out below:

Nominee	Votes for	% For		Votes Withheld	% Withheld
Jean-Marc Lacoste	34,876,151	99.95	%	16,402	0.05	%
Michel Bouchard	34,865,292	99.92	%	27,385	0.08	%
Guylaine Daigle	34,795,715	99.72	%	96,962	0.28	%
Laurie Gaborit	34,804,111	99.75	%	88,442	0.25	%
Christian Pichette	34,794,292	99.72	%	98,385	0.28	%

Furthermore, the appointment of KPMG LLP as the external auditors of the Corporation was also approved.

About Monarch
Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) is a fully integrated mining company that owns four projects, including the Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years. Other assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarch’s wholly owned 750 tpd Beacon Mill. Monarch owns 28,702 hectares (287 km²) of mining assets in the prolific Abitibi mining camp that host a combined measured and indicated gold resources of 478,982 ounces and a combined inferred resource of 383,393 ounces.

Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch’s actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.

FOR MORE INFORMATION:

Jean-Marc Lacoste President and Chief Executive Officer	1-888-994-4465 jm.lacoste@monarchmining.com
Mathieu Séguin Vice President, Corporate Development	1-888-994-4465 m.seguin@monarchmining.com
Elisabeth Tremblay Geologist and Communications Manager	1-888-994-4465 e.tremblay@monarchmining.com

www.monarchmining.com