MONARCH MINING CORP - GBARF STOCK NEWS

Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) has reported remarkable high-grade assay results from its underground drilling at the Beaufor Mine. Key findings include 418.0 g/t Au over 0.63 m and 37.59 g/t Au over 2.5 m. These results, part of the ongoing 2021-2022 drilling program, indicate potential extensions in the W and 140 zones, crucial for Monarch's near-term mining plans. Continuous drilling is progressing with five rigs operational, aiming to convert these zones into reserves as underground rehabilitation continues.

Monarch Mining Corporation (ticker: GBARF) reported significant gold assays from its Swanson drilling program, indicating impressive mineralization thicknesses. Recent results include 0.92 g/t Au over 225.25 m and 1.03 g/t Au over 158.85 m in various drill holes. The company has expanded its drilling program to 13,000 metres due to these promising results. The Swanson project, located 55 km northeast of Val-d’Or, Quebec, has shown strong potential for further gold deposits, confirming initial findings that the mineralization could expand significantly.

Monarch Mining Corporation has appointed Benoit Desormeaux as a new director, effective immediately. Desormeaux brings over 12 years of board experience and a solid background in mining, having previously served as COO and CFO of SEMAFO. Under his leadership, SEMAFO was sold for $1.6 billion, highlighting his commitment to value creation. This strategic addition comes as Monarch resumes operations at its Beaufor Mine and plans to advance multiple mining projects, aiming for production over 100,000 ounces of gold.

Monarch Mining Corporation (TSX: GBAR) has commenced processing ore at its Beacon Mill after refurbishing the facility with an investment of approximately $20 million. The company has mined 31,079 tonnes of ore, with an average grade of 4.76 g/t Au, of which 30,549 tonnes are stockpiled. Monarch plans to pour its first gold bar in July, marking a significant milestone in the recommissioning of its Beaufor Mine and Beacon Mill, located in Quebec.

Monarch Mining Corporation has announced additional high-grade assay results from its 2021-2022 underground drilling program at the Beaufor Mine, located near Val-d’Or, Québec. Significant assays include 122.0 g/t Au over 1.4 m and 20.74 g/t Au over 3.3 m from the Q Zone. The mine has produced over 1.1 million ounces of gold since its commercial production began in the 1930s. The ongoing drilling program, encompassing 335 holes totaling 54,723 meters, aims to convert identified zones into reserves. Monarch is currently utilizing five drill rigs underground to expand its exploration efforts.

Monarch Mining has announced final assays for its 2021 diamond drilling program at the McKenzie Break deposit, revealing high-grade results such as 19.12 g/t Au over 1.9 m and 41.0 g/t Au over 0.5 m. The drilling program expanded the mineralized footprint to 600 by 1,100 metres and confirmed that mineralization remains open in all directions. The 2022 drilling program, starting in April, will involve 20,000 metres across 65 holes, with plans to update the mineral resource estimate later in 2022.

Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) announced the appointment of Renaud Adams as a director, effective June 30, 2022, replacing retiring director Christian Pichette. Mr. Adams brings over 25 years of mining experience, previously serving as CEO of New Gold and Richmont Mines, where he significantly increased production and reduced costs. This leadership change comes as Monarch prepares to restart the Beaufor Mine and advance other projects. The company has substantial resources, including 478,982 ounces measured and indicated gold and 383,393 ounces inferred across its four projects.

Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) reported its Q3 results for the period ending March 31, 2022. Key highlights include a net income of 758,545 CAD, reversing a loss of 2,760,651 CAD in 2021. The corporation has 6.1 million CAD in cash and cash equivalents, significantly down from 20.5 million CAD a year prior. The Beaufor Mine is set for gradual recommissioning with 24,000 tonnes of ore stockpiled. Exploration plans include drilling 60,000 metres across four properties in 2022.

On April 6, 2022, Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) announced the successful closing of a transaction with Gold Royalty Corp (NYSE: GROY) for C$4.5 million. This deal involves the acquisition of royalty interests and the elimination of certain buybacks. Specifically, Gold Royalty will receive an additional C$1.25 per tonne royalty related to the Beacon mill and a 0.25% net smelter return royalty on certain properties. Monarch’s assets include four mining projects and a significant gold resource of 478,982 ounces.