Monarques Resources Inc.
TSX VENTURE : MQR
FRANKFURT : MR7

Monarques Resources Inc.

January 08, 2015 08:43 ET

Monarques Appoints Valere Larouche as Its Chief Geologist

QUEBEC CITY, QUEBEC--(Marketwired - Jan. 8, 2015) - MONARQUES RESOURCES INC. ("Monarques" or the "Corporation") (TSX VENTURE:MQR) (FRANKFURT:MR7) is pleased to announce the appointment of Valère Larouche, ing. as Chief Geologist.

"We are very pleased that Mr. Larouche has joined our field team," said Jean-Marc Lacoste, President and Chief Executive Officer of the Corporation. "His broad experience in gold deposits and mining geology will be important assets for the development of the Croinor Gold project."

Mr. Larouche has a Bachelor of Geological Engineering from Université du Québec in Chicoutimi. He has over 20 years of experience in the mining industry, mainly in underground gold mines. He has worked for numerous public companies during his career, including Campbell Resources, Alexis Minerals Corporation, NAP Quebec Mines Ltd. and Aurbec Mines Inc.

Also, the Corporation announces the grant of 500,000 stock options to officers, employees and one consultant. Each stock option entitles the holder to purchase one common share of the Corporation at a price of $0.13 per common share for a period of 5 years from the grant date. Of this number, 275,000 stock options vest immediately while 225,000 options to purchase shares will vest gradually over a period of 18 months, with a quarter vesting immediately and a quarter every 6 months afterwards. Options to purchase shares and common shares that may be subscribed upon exercise thereof will be subject to a hold period of four months on resale which begins from the date of grant. These stock options are governed by the Stock Option Plan of the Corporation, as currently in force.

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.

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