THE CORPORATION RECEIVES AN INITIAL $684,375 FROM THE MERN
Quebec City, Quebec, Canada, July 14th , 2016 – MONARQUES GOLD CORP.(“Monarques” or the “Corporation”) (TSX-V: MQR) (FRANKFURT: MR7) is pleased to announce that it has received an initial $684,375 from the Ministère de l'Énergie et des Ressources Naturelles (MERN), enabling it to start work on the engineering design for the 25 kV power transmission line at the Croinor Gold mining project.
“The power line is the first step in the development of the Croinor Gold mining project,” said Jean-Marc Lacoste, President and Chief Executive Officer. “The engineering work is already underway, and is being carried out by WSP in Val-d'Or. As I have said before, we expect this power line to both reduce production costs significantly and minimize the project’s environmental footprint.”
On May 16, 2016, the Corporation announced that it had been awarded a grant of up to $2,737,500 by the MERN for the 26-kilometre power line to the Croinor Gold site. The funding was granted to X-Ore Resources Inc., a wholly-owned subsidiary of Monarques, under the Écoperformance program.
ABOUT MONARQUES GOLD
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.
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.