Monarques Announces a Financing by Way of Short Form Prospectus

QUEBEC CITY, QUEBEC--(Marketwired - Nov. 11, 2014) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

MONARQUES RESOURCES INC. (the "Corporation" or "Monarques") (TSX VENTURE:MQR)(FRANKFURT:MR7) is pleased to announce that it has filed a preliminary short form prospectus in connection with a proposed offering of A units, B units and C units (the "Units") of the Company of up to $3,000,000 of gross proceeds (the "Offering"). The Offering will be conducted by Industrial Alliance Securities Inc. (the "Agent").

Each A Unit consists of one common share in the capital of the Corporation (each a "Common Share" and collectively, the "Common Shares") at a price of $0.13 per Common Share and one Common Share purchase warrant (each Common Share purchase warrant, a "Warrant" and collectively, the "Warrants").

Each B Unit consists of 5,000 Common Shares to be issued as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (each a "Flow-Through Share" and collectively, the "Flow-Through Shares") at a price of $0.16 per Flow-Through Share, 1,538 Common Shares at a price of $0.13 per Common Share and 3,269 Warrants.

Each C Unit consists of one Flow-Through Share at a price of $0.16 per Flow-Through Share and one-half of one Warrant, for which a minimum individual subscription of $100,000 is required.

Each whole Warrant entitles its holder to purchase one Common Share at a price of $0.18 at any time prior to 5:00 p.m. (Montreal time) on the date that is 36 months following the Closing Date (as defined herein) (the "Warrant Expiry Date").

The A Units, the B Units and the C Units together with any Additional Units (as defined herein) will be sold pursuant to the terms and conditions of an agency agreement (the "Agency Agreement") to be entered into between the Corporation and the Agent. The Offering price of the A Units, the B Units and the C Units was determined based upon arm's length negotiations between the Corporation and the Agent.

The Corporation has also agreed to grant the Agent an option to cover over-allotments, if any, and for market stabilization purposes (the "Over-Allotment Option"), which will allow the Agent to purchase that number of additional Units (or a combination of A Units, B Units or C Units) equal to up to 15% of the offered and subscribed Units. The Over-Allotment Option may be exercised, in whole or in part, at any time up to 30 days after the closing of the Offering.

The Corporation intends to use the net proceeds of the Offering to conduct exploration works on its Croinor Gold property.

The Offering is being made pursuant to a short form prospectus filed in each of the provinces of Québec, Ontario, Alberta and British Columbia. A copy of the preliminary short form prospectus is available on SEDAR at www.sedar.com.

The Offering is subject to certain customary conditions and regulatory approvals, including the approval of the TSX Venture Exchange.

This press release does not constitute an offer of securities for sale in the United States or to "U.S. persons" ("U.S. persons"), as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.

ABOUT MONARQUES

Monarques is a gold exploration company currently focusing its efforts on the development of gold projects along the Cadillac Break, in the Val-d'Or area of Quebec. Monarques currently has nearly 200 km² of property holdings in the Val-d'Or area consisting of 581 claims, two mining concessions and one mining lease, and over $9.4 million in credits from the Ministère de l'Énergie et des Ressources naturelles.

Forward-Looking Statements

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