PARRAL, MEXICO--(Marketwired - Feb. 3, 2014) - Monarchy Resources, Inc. (OTCBB:MONK)
The Company is pleased to provide an update on the stockpiled ore at its three working mines; Morelos, La Luna, and Peneto. The Company is a 45% shareholder in New World Metals, the owner of these three mines located in Chihuahua, Mexico. New World has informed the Company that they have continued to stockpile the ore they have recovered at all three mine locations, and have increased the amount of stockpiled ore by an additional 1,000 tons to a total of 9,000 tons of ore. This stockpiled ore will form the initial supply of ore that New World plans on processing once it has acquired and installed a processing plant on location at two of the mine sites.
In addition, the Company is currently in discussion with a noted geologist firm to commission a 43-101 mineral report on two of the three Mexican mines. The Company will further update shareholders as these discussions progress.
About Monarchy Resources
Monarchy Resources ("Monarchy") engages in a variety of investments in historically significant, mining claims and mining real estate world-wide with mineral reserves primarily consisting of precious metals. Monarchy Resources takes a minority, non-operated position in precious metal mining projects. We combine experienced management, low overhead and capital towards promising strategic acquisitions. We allow operators to remain focused on their operated interests and in return Monarchy receives revenue share of the profits from such participation. Monarchy's non-operated position continues to gain momentum as Monarchy partners with more operators and land professionals. Currently Monarchy holds a 45% interest in New World Metals, a Mexican mining company.
About New World Metals
New World Metals ("NWM") is a mineral development, ore processing and refining company focusing on expanding its production of gold and silver in Chihuahua, Mexico. NWM has three operational mines in Mexico.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including the Company's beliefs about its business prospects and future results of operations. Some factors that could cause actual results to differ materially include economic and operational risks, changes in anticipated earnings, continuation of current contracts, and other factors detailed in the Company's filings with the Securities and Exchange Commission, including its most recent Forms 10-K and 10-Q. The Company forecasts provided above are dynamic and therefore refer only to this release date. The Company does not undertake to update any forecasts that it may make available to the investing public.