MONARCH MINING CORP - GBARF STOCK NEWS

Monarch Mining Corporation (TSX: GBAR) announced promising assay results from its ongoing drilling at the McKenzie Break deposit, located 25 km from its Beacon mill. Significant mineralization was found, including 73.5 g/t Au over 1.35 m, 12.75 g/t Au over 1.7 m, and 8.0 g/t Au over 1.0 m. The drilling program aims to expand the gold deposit, successfully extending the mineralized envelope to 1,100 m by 600 m. Further drilling is planned for 2022 to explore additional targets. The results indicate continued high-grade potential in the area.

Monarch Mining Corporation (TSX: GBAR) has initiated a 5,000-metre exploration drilling program on its Swanson property in Quebec, commencing later in November 2021. This program aims to explore drill targets both near the Swanson deposit and beyond the current mineral resource boundaries. Historical drilling has revealed high-grade intersections, including 6.06 g/t Au over 24.39 m. The property consists of 127 mineral claims over 5,126 ha, with a NI 43-101 mineral resource estimate indicating 113,800 ounces of gold in indicated resources.

Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) reported its financial results for Q1 ending September 30, 2021. Key highlights include:

• Net earnings of 2,843,374 CAD (0.04 CAD per share).
• Administration expenses totaling 1,915,029 CAD.
• Exploration expenses of 1,729,695 CAD.
• Gain on disposal of assets at 7,690,483 CAD.
• Total assets valued at 89,164,416 CAD.

The company is advancing mining projects, particularly at Beaufor and McKenzie Break.

Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) announced significant results from its ongoing 42,500-metre exploration drilling program at the Beaufor Mine, located in Québec. High-grade gold intersections were confirmed, including 106 g/t Au over 0.5 m and 56.91 g/t Au over 0.7 m. To date, assay results from 206 holes (24,405 m) show promising continuity of previously mined zones. The company is preparing to restart operations by June 2022, with plans for further drilling to potentially convert these high-grade intersections into reserves.

Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) announced the upcoming restart of operations at the Beaufor Mine and Beacon Mill, aiming for mining to commence in 2022. Rehabilitation efforts by around 30 employees and 120 contractors have included significant upgrades to rail tracks, main ramps, and ventilation systems. The preparation work is part of a projected budget of $12.5 million. Additionally, four underground drills are in operation, with an 85% completion of a 42,500-metre drilling program.

Monarch Mining Corporation (TSX: GBAR) announced significant gold mineralization from its drilling program at the McKenzie Break property. Key results include intersections of 3.93 g/t Au over 2.83 metres and 1.52 g/t Au over 8.80 metres, located 1 km south of the known deposit. The drilling program tested shallow targets along a promising geological contact, revealing potential for further exploration. Monarch now controls over 9 km of this favourable area, supported by a recent high-resolution aeromagnetic survey. Follow-up drilling is planned to confirm continuity and assess the discovery's potential.

Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) announced its financial results for the 232-day period ending June 30, 2021, reporting a net loss of $5.60 million or $0.12 per share. Operational expenditures included $1.76 million in administration, $2.76 million for care and maintenance, and $3.47 million for exploration. Monarch aims to restart operations at the Beaufor Mine by June 2022 and has increased its cash position to $38 million as of September 15, 2021, while minimizing share dilution. The company is progressing with its drilling program, having completed 42,500 meters at Beaufor.

Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) released a technical report for its Beaufor Mine project, indicating substantial increases in gold resources. The report estimates a Measured Resource of 328,500 tonnes at 5.7 g/t Au (59,900 ounces) and an Indicated Resource of 956,400 tonnes at 5.2 g/t Au (159,300 ounces). The Inferred Resource surged by 307% to 818,900 tonnes at 4.7 g/t Au (122,500 ounces). This updated estimate incorporates extensive drill results and a refined modeling approach, comprising 166 mineralized zones. Approximately 24,700 meters of ongoing drilling remain unaccounted for in this estimate.

Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) has successfully closed a $13.5 million senior secured term loan with Investissement Québec on August 13, 2021. The loan is set for three years, with an interest rate of 6% until the Beaufor Mine restart, decreasing to 5% during the first production year and 4% thereafter, based on specific conditions. Monarch owns four projects, including the past-producing Beaufor Mine, and holds 28,702 hectares of mining assets in the Abitibi mining camp, with an estimated 714,982 ounces of measured and indicated gold resources.