Monarques Resources Inc.
TSX VENTURE : MQR
FRANKFURT : MR7

Monarques Resources Inc.

March 28, 2014 09:30 ET

Monarques Identifies a Zone Grading 17.9 G/T Silver Over 4.0 Metres on Simkar

QUEBEC CITY, QUEBEC--(Marketwired - March 28, 2014) - MONARQUES RESOURCES INC. ("Monarques" or the "Corporation") (TSX VENTURE:MQR)(FRANKFURT:MR7) announced anomalous silver (Ag) concentrations from re-assayed sample pulps from the Simkar Gold Project, in which it holds a 57% interest under an agreement signed with Eloro Resources on September 23, 2013. The property is located in the heart of the Val-d'Or mining camp, just north of the Cadillac Break, in the Abitibi Greenstone Belt. These results are additional to those released on January 16, February 5 and February 28, 2014. Click here to access the most recent corporate video

Monarques decided to re-assay for silver after an initial series of assays returned grades of up 2.4 g/t silver from gold-bearing core samples. The Corporation chose to systematically re-assay the sections that had returned the highest gold grades. The re-assays showed that there was no direct correlation between the gold and silver grades in the results obtained. Although most of the intervals showed a silver content of less than 1.0 g/t, one section from Hole SK13-19, which had previously returned a grade of 0.64 g/t Au over 4.0 m, also yielded a silver grade of 17.6 g/t.

Silver-bearing intersection from Hole SK13-19

Hole # From To Au (g/t) Ag (g/t)
SK13-19 42.00 43.00 0.820 14.9
43.00 44.00 0.350 13.3
44.00 45.00 0.600 19.4
45.00 46.00 0.800 22.8
Weighted average over 4.0m 0.640 17.6

According to Jean-Marc Lacoste, President and CEO of Monarques: "These assays clearly show the presence of silver-enriched zones on the Simkar project. We still need to understand the relationship between the gold and silver values ΓÇïΓÇïin the project better so we can better identify each type of mineralization."

The 2013 drilling program consisted of 19 holes totalling 8,055 metres (m) of drilling. The program was primarily aimed at extending the gold-bearing horizons previously identified as the "A", "B", "C", "D", "East" and "South" zones, with the goal of confirming their projected horizontal and vertical extension. A secondary goal was to develop and test new models of these same gold-bearing structures.

The 2013 exploration program was planned and supervised by MRB & Associés of Val-d'Or, QC, who designed the drilling program, supervised the work and logged and sampled the core on Monarques' behalf. Sampling consisted of sawing the core into two equal halves along its main axis and shipping one of the halves to Techni-Lab S.G.B. Abitibi Inc. in Val-d'Or for assaying. The samples were crushed, pulverized and assayed by fire assay with atomic absorption finish. Results exceeding 5.0 g/t were re-assayed using the gravity method. MRB & Associés established a full QA/QC protocol, including the insertion of standards, blanks and duplicates.

Antoine Fournier, Geol., exploration manager and the qualified person under National Instrument 43-101, has reviewed the technical and scientific content of this release.

ABOUT MONARQUES

Monarques Resources Inc. (TSX VENTURE:MQR) is a junior gold exploration company dedicated to excellence and committed to a program of socially- and environmentally-responsible development. The Corporation is currently focusing its efforts on the acquisition and development of gold projects along the Cadillac Break, in the Val-d'Or area. On October 31, 2013, Monarques had over 100 km² of property holdings in Val-d'Or consisting of 399 claims and two mining concessions, and over $1.72 million in credits from the Ministère des Ressources Naturelles (MRN).

Forward-looking Statements

The forward-looking statements contained 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 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.

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