Monarques Resources Inc.

Monarques Resources Inc.

March 30, 2012 17:06 ET

Monarques Consolidated its Caumont Property by Acquiring 13 Claims

QUÉBEC CITY, QUÉBEC--(Marketwire - March 30, 2012) - MONARQUES RESOURCES INC. ("Monarques" or the "Corporation") (TSX VENTURE:MQR) is pleased to announce that it has entered into a purchase agreement of 13 mining claims owned by Les Ressources Tectonic Inc. ("Tectonic") located in the Province of Québec, NTS Sheet 32N/08 and 32N/09.

In consideration of the acquisition of these claims, Monarques has agreed to pay to Tectonic $15,000 in cash and to issue 70,000 common shares. Also, Monarques has agreed to pay Tectonic a 1% NSR in case of commercial production on one or all mining claims. The NSR is payable on a quarterly basis, the first installment being payable three months following the commercial production. Monarques has the right, at any time, to repurchase the 1% NSR by paying Tectonic the sum of $1,000,000.

The securities will be subject to a 4 month and a day hold period and the issuance thereof is also subject to the approval of the TSX Venture Exchange Inc.

These claims are located within and on the perimeter of the Caumont property owned 100% by the Corporation. Following last year results on this property, it is advisable for the Corporation to consolidate the area. These works have identified magmatic Ni-Cu-PGE mineralization and the best results obtained are: 1.08% Cu, 0.76% or 0.51 g/t Pd.

As of the mechanical trenching program, 18 trenches were stripped for a total of 506 meters and a total of 189 channel samples were analyzed. The key results were obtained from the Montagnes Showing, located south of Lake Caumont, they include: 0.63% Cu, 0.43% Ni, 0.06 g/t Pt and 0.58 g/t Pd over 2.5 meters; 0.34% Cu, 0.40% Ni, 0.07 g/t Pt and 0.59 g/t Pd over 2.4 meters; and 0.35% Cu, 0.18% Ni, 0.08 g/t Pt and 0.42 g/t Pd over 3.0 meters.

Diamond Drilling is intended on this property in the next year.

The technical sections of this press release have been prepared by Yves Caron, M.Sc., P.Geo. qualified person as defined in National Instrument 43-101.


Monarques Resources Inc. (TSX VENTURE:MQR) is a mineral exploration company that is exploring for base metals, platinum group element (PGE) and precious metals on its 100% owned properties in the Lower James Bay Region of Quebec. These properties are entirely underlain by the Lac des Montagnes polymetallic greenstone belt formation, which hosts multiple showings and drill ready targets in addition to the Nisk-1 nickel, copper and PGE deposit. Monarques mineral assets are comprised of 1,090 map designated claims divided in 7 properties known as Bourier, Arques, Lemare, Nisk, Duval, Valiquette and Caumont. The most advanced asset is the Nisk-1 deposit (nickel, copper, PGE) located on the Nisk property which contains a NI 43-101 compliant resource estimate prepared by Pierre Trudel, PH.D. Eng., of RSW Inc. and dated December 19, 2009. The properties are accessible year round by either the Route du Nord from Chibougamau (280 km) or the Route de la Baie James from Matagami (380 km) and are located near the Cree community of Nemaska and the Nemiscau airport. Nemaska Exploration (TSX VENTURE:NMX)(OTCQX:NMKEF), an advanced lithium exploration and development company is a major shareholder of Monarques.

A detailed property map is available on the web site corporation's at :

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.

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward-looking statement.

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