Monarques Resources Inc.
TSX VENTURE : MQR
FRANKFURT : MR7

Monarques Resources Inc.

December 13, 2013 15:59 ET

Monarques Announces Maximum Offering of $252,000

QUÉBEC CITY, QUÉBEC--(Marketwired - Dec. 13, 2013) -

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART OR INTO THE UNITED STATES.

MONARQUES RESOURCES INC. ("Monarques" or the "Corporation") (TSX VENTURE:MQR) is pleased to announce that it has entered into an agreement with Industrial Alliance Securities Inc. ("IAS") for a private placement of up to 210 flow-through units (the "Flow-Through Units"), at a price of $1,200 per Flow-Through Unit, for aggregate gross proceeds of up to $252,000 (the "Offering"). The Offering is being made by IAS, acting as agent, on a reasonable efforts basis and is expected to close on or about December 20, 2013. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals.

Each Flow-Through Unit subscribed for under the Offering, is comprised of 6 000 common shares to be issued as flow-through shares, at a price of $0.16 per flow-through share, of 2 000 common shares, at a price of $0.12 per common share, and of 4,000 common share purchase warrant (the "Warrants") of the Corporation. Each whole Warrant shall entitle the holder thereof to subscribe for one common share of the Corporation, at a price of $0.20 per common share, for a period of 24 months following the closing date of the Offering.

In consideration for the services rendered in connection with the Offering, the Corporation has agreed to pay IAS a cash commission equal to 10% of gross proceeds of the Offering and issue compensation options (the "Compensation options") equal to 5% of the shares comprised in the units subscribed for under the Offering. Each Compensation option entitle the holder thereof to subscribe one common share of the Corporation, at a price of $0.12 per common share, for a period of 24 months following the closing date of the Offering.

The net proceeds of the Offering will be used by Monarques to incur exploration expenses on its properties and for working capital purposes.

All securities issued pursuant to the Offering are subject to a restricted period of four months and a day under applicable Canadian securities regulation.

The securities issued under the Offering will not be registered under the United States Securities Act of 1933 (the "Act") or any state securities laws and may not be offered or sold absent registration under the Act and applicable state securities laws or an applicable exemption from the registration requirements thereof. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption there from.
ABOUT MONARQUES

Monarques Resources Inc. (TSX VENTURE:MQR) is a gold exploration mining company, dedicated to excellence and committed to a socially and environmentally responsible development plan. The Company is currently dedicating its efforts to the acquisition and development of gold projects located along the Cadillac Fault in the Val-d'Or area. As of october 31st 2013,Monarques owns properties that cover more than 100 km² in Val-d'Or, comprising a total of 399 claims, 2 mining leases and over $1.76M in credits from the Ministry of Natural Resources (MNR). Furthermore, Monarques continues to develop other properties located in the Nemaska area, on the James Bay territory in Quebec, which cover nearly 520 km² on 1,028 claims for a total of over $7.2M in credits from the MNR. The company also holds a 100% interest in the Nisk-1 deposit, a project that complies with the national instrument 43 101.

Forward looking statements

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

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