MONARCH MINING CORP - GBARF STOCK NEWS

Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) has completed a significant transaction with Gold Royalty Corp, acquiring $11.25 million in cash. The deal includes a $2.50 per tonne royalty on materials processed through the Beacon mill from the Beaufor mine and a 2.5% net smelter return royalty on Croinor Gold, McKenzie Break, and Swanson properties, with a buy-back option for Monarch. The first cash payment of $7.5 million has been made, with the remaining $3.75 million due in six months.

Monarch Mining Corporation has secured a $13.5 million senior secured term loan with Investissement Québec to recommission the Beaufor Mine and Beacon Mill. The three-year loan carries an annual interest rate starting at 6%, reducing to 5% during the first production year and 4% thereafter. This financing strengthens Monarch's financial standing, with over $43 million in cash available. The restart is expected to create over 100 new jobs in the Abitibi-Témiscamingue region, playing a pivotal role in economic recovery.

Monarch Mining Corporation (TSX: GBAR) announced a significant update on the mineral resource estimate (MRE) for its Beaufor Mine, reporting a Measured Mineral Resource of 328,500 tonnes at 5.7 g/t Au (59,900 ounces) and an Indicated Mineral Resource of 956,400 tonnes at 5.2 g/t Au (159,300 ounces), enhancing the total by using advanced block modeling techniques. The Inferred Resource now stands at 818,900 tonnes at 4.7 g/t Au (122,500 ounces), a 307% increase since January 2021. This update results from extensive drilling across 166 mineralized zones, with an ongoing 42,500-meter drilling program.

Monarch Mining Corporation (TSX: GBAR) announced a transaction with Gold Royalty Corp. to strengthen its balance sheet prior to the reopening of the Beaufor mine and Beacon mill. This non-dilutive financing will generate approximately $11.25 million, increasing Monarch's cash reserves to about $30 million. The deal includes a $2.50 per tonne royalty on material processed at the Beacon mill and a 2.5% net smelter return on several properties. The transaction is expected to close in August 2021, contingent on customary conditions.

Monarch Mining Corporation (TSX: GBAR) has announced high-grade gold results from its ongoing 42,500-metre exploration drilling program at the Beaufor Mine in Québec. Significant assays include 119.0 g/t Au over 0.5 m and 56.1 g/t Au over 0.8 m. The program, utilizing four underground and one surface drill, aims to explore near-mine targets and establish a new mineral resource estimate. Currently, the corporation has completed 162 holes out of 275 planned, with positive results bolstering expectations for resource expansion.

Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) has announced significant results from its 2020 diamond drilling program at the McKenzie Break project. Notable intersections include hole MK-20-276, which returned 70.80 g/t Au over 0.4 metres, extending the resource envelope 50 metres to the south. Additionally, hole MK-20-266 intersected 8.80 g/t Au over 1.0 metre, indicating further mineralization expansion towards the northeast by 75 metres. The ongoing Phase 2 drilling program aims to delineate and expand mineralization, with visible gold noted in the first hole of a planned 14,300-metre program.

MONTREAL, June 7, 2021 – Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) announced DTC eligibility for its common shares, facilitating electronic clearing and settlement in the U.S. This enhancement allows for efficient trading among U.S. investors, potentially improving stock liquidity. Monarch operates four advanced projects, including the historic Beaufor Mine, with over 1 million ounces of gold produced. The company holds 28,702 hectares of mining assets in the Abitibi mining camp, boasting significant gold resources.

Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF) plans to reopen its Beaufor mine and Beacon mill by June 2022. Previously, both facilities were on care and maintenance, with the Beaufor mine producing over 1.1 million ounces of gold at an average grade of 7.50 g/t Au since the 1930s. A 42,500-meter diamond drilling program is ongoing, with significant high-grade intersections reported. With the restart plan, Monarch aims to create jobs and explore further gold potential while utilizing both the production ramp and shaft access.

Monarch Mining Corporation has successfully upgraded to the OTCQX® Best Market from the Pink® market, effective May 20, 2021. The company is now trading under the symbol GBARF. This upgrade enables better trading transparency for US investors, as Monarch seeks to expand its shareholder base to include retail and institutional investors. The company boasts advanced mining projects, including the permitted Beaufor Mine, which has produced over 1 million ounces of gold. Monarch's total mining assets include 588,482 ounces of combined measured and indicated gold resources.