The Corporation intercepts multiple gold-bearing zones in the western extension of Diorite A 

Montreal, Quebec, Canada, August 16, 2017 – MONARQUES GOLD CORPORATION (“Monarques” or the “Corporation”) (TSX-V: MQR) (FRANKFURT: MR7) is pleased to report the results for the 2,500-metre drilling program on its Simkar Gold property, located approximately 20 kilometres east of Val-d’Or, Quebec, and less than 3 kilometres from the Company’s Beacon Gold mill (see map). 

The program was designed to test the western extension of the “Diorite A”-hosted gold-bearing zone containing some of the mineralization of the Louvicourt Goldfields mine located at the centre of the Simkar Gold property, which was in production from 1945 to 1949 and 1987 to 1993. The four drill holes of the program (Figure 1) confirmed the presence of multiple gold zones in the western extension of “Diorite A”, with results including: 11.30 g/t Au over 0.7 metres in Hole CR-17-03; 15.85 g/t Au over 1.0 metres in Hole CR-17-04; 14.85 g/t Au over 0.7 metres in Hole CR-17-05; and 23.20 g/t Au over 0.4 metres in Hole CR-07-06. The overall results for the program were as follows:

The widths shown are core lengths; true width cannot be estimated.

“We are pleased with the results at Simkar Gold, particularly given that our four holes intercepted multiple mineralized zones down to a depth of around 600 metres, including a few sections with high gold grades,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. “Clearly, the Simkar Gold property has good gold potential that we will continue to test during our next phase of work. Our objective is to increase the resources on our gold properties around the Beacon mill with a view to eventually producing at full capacity.”

The technical and scientific content of this press release has been reviewed and approved by Vincent Jourdain, Eng., Ph.D.  Mr. Jourdain is employed by MRB & Associates and is a qualified person under National Instrument 43101. 

Sampling normally consisted of sawing the core into two equal halves along its main axis and shipping one of the halves to the ALS Minerals laboratory 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, and samples containing gold grains are assayed using the metallic sieve method. Monarques uses a comprehensive QA/QC protocol, including the insertion of standards, blanks and duplicates.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold is a growing junior gold company focused on becoming the leading explorer and developer of gold properties in the Val-d’Or/Abitibi gold camp in Quebec, Canada. The Corporation currently has approximately 200 km² of gold exploration properties (see map) along the Cadillac Break, as well as its main asset, the Croinor Gold mine, which has great potential to become a producing mine. Monarques Gold is well financed and has close to $9 million in credits from Quebec’s Ministry of Energy and Natural Resources.

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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.