Monarques Resources Inc.
TSX VENTURE : MQR

Monarques Resources Inc.

October 27, 2011 13:14 ET

Monarques Resources Discovers a 25 km Massive Sulphide Zone at Bourier

QUEBEC CITY, QUEBEC--(Marketwire - Oct. 27, 2011) - Monarques Resources Inc. ("Monarques" or the "Company") (TSX VENTURE:MQR) is pleased to announce the discovery of a massive sulphide zone which extends up to 25 km long on its 100% owned Bourier property. In addition, the company is pleased to provide a progress report on its other properties.

- Bourier Property

2,214 meters of drilling (15 holes) were completed in the northern portion of the Bourier property to test the continuity at depth of the massive sulphide area which was identified in the work carried out during the summer 2010. Four trenches have been mechanically striped on the massive sulphide zone and, due to the end of the summer season, samples will be taken in the summer of 2012. In addition, last summer, geological mapping and prospecting campaigns were completed on the extension to the north-east of the same massive sulphide zone, during which time, 509 rock samples, including 273 channel samples and 1,526 soil samples were collected for geochemical characterization. The results of these field campaigns are expected shortly. Drill core is currently being logged and will be sent for assaying shortly. Work to date has confirmed that the massive sulphide body extends for up to 25 km. To protect the Company's interest in this area, Monarques has acquired by map staking 25 new claims to cover the extensions of geophysical anomalies at the north-east end of the property.

- Caumont Property

A high resolution heli-borne magnetometric and electromagnetometric survey (Heli-mag/EM) was carried out on part of the property which had not been previously flown. A stripping campaign was also completed on 5 zones where 226 rock samples were collected, including 168 channel samples. The results are pending. To secure the perimeter of the property, the Company has acquired 12 new claims by map staking.

- Duval Property

Last October 17, a 1,338 meter (6 holes) drill campaign was completed on the Duval property. The drilling focused on 4 targets that were identified during the summer 2010 stripping program. A ground magnetometric survey, covering 21 linear kilometers, was also carried out on the sector. Results are pending.

- Lemare Property

Two exploration diamond drill holes, totalling 498 meters, were drilled on targets identified in the field work carried out in 2009 and 2010 by Nemaska Exploration Inc.. The drill core is currently being logged and has not yet been sampled. Six new claims have also been acquired by map staking to cover geophysical anomalies at the south-west end of the property.

- Nisk Property*

In the eastern section of the property, a 153 meter diamond drill hole was completed on a high contrast positive magnetic anomaly. In this same area and on a similar target, two mechanical trenches, totalling approximately 600 m2 of outcrop, were stripped. On which, due to the end of the summer season, samples will be taken in the summer of 2012. Earlier this year, a ground magnetometric survey covering 60 linear km was carried out in this sector to define targets. Drill results are pending.

* Recent work on the Nisk-1 deposit reported in a release dated October 25, 2011 is not expressed here.

- Valiquette Property

Last October 18 2011, a 1,500 meter (5 holes) drill campaign began on the property. The Company has already completed a ground magnetometric survey covering linearly 34 km on the sector to outline drill targets. Following drill results disclosed in the July 20th release, Monarques has acquired 24 new claims by map staking to cover extensions of geophysical anomalies located west of the property.

- New properties

In total 205 new claims were recently acquired by map staking. Among them, the Company has outlined 3 new properties: Amiral with 63 claims, Rosebay with 44 claims and Dumulon with 31 claims. All of these mining titles cover areas where public airborne magnetic data has been collected and/or work has been carried out by the Company. In addition, the Rosebay property is associated with a lake bottom geochemical anomaly. Monarques has already conducted a high resolution Heli-mag/EM survey on these 3 new properties.

Mr. Guy Bourassa, President and Chief Executive Officer, commented: "We are aggressively executing our planned exploration program on time and within budget. Each of these properties has the potential to become a company maker on their own. We are obviously very excited by the sheer size of the massive sulphide zone that we discovered at the Bourier property and we are eager to get the lab results back from our drilling and sampling to date."

The technical sections of this press release were prepared by Yves Caron, M.Sc., P.Geo., Vice-President Exploration of Monarques Resources Inc. and qualified person as defined in National Instrument 43-101.

All samples were sent for preparation and analysis to the ALS Chemex facilities in Val d'Or, Quebec. This laboratory is accredited ISO/IEG 17025: 2005 by the Standards Council of Canada (SCC). Monarques Resources Inc. applies a rigorous quality control protocol over all of its operations, including the insertion of certified analytical standards, duplicates and blanks and statistical follow-up of the results.

A detailed map of properties is available on the company web site at http://www.monarquesresources.com/en/Properties

About Monarques

Monarques Resources Inc. (TSX VENTURE:MQR) is a mineral exploration company that is exploring for base metals, precious metals including the platinum group elements (PGE) and industrial minerals including rare earth elements (REE). Its properties, all 100% owned, are located in the region of Nemaska, in the Lower James Bay Region of Quebec and cover about 125 km of the polymetallic formation of Lac des Montagne. This greenstone belt is known for its multiple showings and drill ready targets in addition to the Nisk-1 deposit (nickel, copper and PGE). Monarques mineral assets consist of 1,308 map designated claims divided in 10 properties known as Amiral, Arques, Bourier, Caumont, Dumulon, Duval, Lemare, Nisk, Rosebay, and Valiquette. 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 Inc. (TSX VENTURE:NMX)(OTCQX:NMKEF), an advanced lithium exploration and development company is a major (47.4%) shareholder of Monarques.

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.

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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