Monarques Gold Corporation
TSX VENTURE : MQR
FRANKFURT : MR7

Monarques Gold Corporation

April 12, 2016 15:33 ET

Monarques Starts Drilling on the Gold Bug Showing at its Croinor Gold Property

QUEBEC CITY, QUEBEC--(Marketwired - April 12, 2016) - MONARQUES GOLD CORP. ("Monarques" or the "Corporation") (TSX VENTURE:MQR) (FRANKFURT:MR7) is pleased to announce that it has started 2016 field work at its Croinor Gold ("Croinor") project with a drilling program on the Gold Bug showing discovered in 2015. The Croinor Gold project, which hosts the Croinor deposit (43-101 Resource Estimate) and is Monarques' key asset, is located approximately 70 kilometres east of Val-d'Or, Quebec.

The Gold Bug zone, which lies about 500 metres east of the Croinor deposit, was discovered by drilling in the fall of 2015 (press release dated October 28, 2015), and its continuity was established by follow-up work carried out in December 2015 (press release dated January 26, 2016).

Table 1 - Gold Bug Zone Gold Grades

Hole From To Core Length (m) Grade
Au (g/t)
CR-15-463 17 18 1 236.47
CR-15-469 33.31 43.8 10.49 4.46
CR-15-470 73.3 74.2 1 0.14

The goal of the current program is to test the continuity of the Gold Bug zone along strike and at depth by drilling a series of short holes spaced at a maximum of about ten metres, given the erratic nature of systems with free (visible) gold. The program, which consists of about ten holes for some 795 metres, should be completed by the end of April.

The technical and scientific content of this press release has been reviewed and approved by Antoine Fournier, P.Geo., the Corporation's Qualified Person under National Instrument 43-101.

Sampling normally 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 are crushed, pulverized and assayed by fire assay with atomic absorption finish. Results exceeding 3.0 g/t are re-assayed using the gravity method. Samples containing gold grains are assayed using the metallic sieve method at the Techni-Lab laboratory in Ste-Germaine-Boulé. Monarques has established a full QA/QC protocol, including the insertion of standards, blanks and duplicates.

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, including two mining concessions and one mining lease with over $9 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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