Beacon Mill

Monarch Reports High-Grade Intersections at McKenzie Break, Including 35.9 g/t Au Over 0.5 m (1.6 ft), 28.2 g/t Au Over 0.66 m (2.2 ft), 17.2 g/t Over 0.9 m (2.9 ft) and 12.65 g/t Au Over 1.5 m (4.9 ft)

Retrieved on: 
Thursday, December 1, 2022

The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, market or other relevant issues.

Key Points: 
  • The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, market or other relevant issues.
  • 7.The geological interpretation of the deposits was based on lithologies and the typical mineralized interval mainly composed by diorite hosted shear zones.
  • Forward-looking statements are provided for the purpose of providing information about managements expectations and plans relating to the future.
  • Further information regarding the Corporation is available in the SEDAR database (www.sedar.com) and on the Corporations website at: www.monarchmining.com

Monarch Announces Private Placement of a Maximum of $5 Million

Retrieved on: 
Wednesday, November 30, 2022

MONTREAL, Nov. 30, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQX: GBARF) announces that it is proceeding with a non-brokered private placement (the “Offering”) of a minimum of 15,384,615 and a maximum of 76,923,077 common shares (the “Shares”) at a price of $0.065 per Share, for a minimum of $1,000,000 and a maximum of $5,000,000 in gross proceeds. The Corporation also reserves the option to increase the size of the Offering by an additional 20% of the maximum amount of the Offering, equivalent to $1,000,000.

Key Points: 
  • All securities issued pursuant to the Offering are subject to a statutory four month and one day hold period in Canada following the Closing Date.
  • "United States" and "U.S. person" are as defined in Regulation S under the U.S. Securities Act.
  • Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
  • Further information regarding the Corporation is available in the SEDAR database (www.sedar.com) and on the Corporations website at: www.monarchmining.com

Monarch Increases Debt Settlements to $11.5 Million

Retrieved on: 
Monday, November 21, 2022

MONTREAL, Nov. 21, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (Monarch or theCorporation) (TSX: GBAR) (OTCQX: GBARF) announced today an update on the total amount of debt settlements disclosed on November 15, 2022.

Key Points: 
  • MONTREAL, Nov. 21, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (Monarch or theCorporation) (TSX: GBAR) (OTCQX: GBARF) announced today an update on the total amount of debt settlements disclosed on November 15, 2022.
  • As of today, the Corporation has reached agreements with 115 of its creditors for $11.5 million (the Debt Settlement).
  • This will allow Monarch to reduce its accounts payable and allow time for the strategic review of its business.
  • As mentioned in the November 15, 2022 press release, Monarch returned the $6 million it held in trust to Investissement Qubec, reducing the amount owing to $12.5 million.

Monarch Announces Debt Settlement

Retrieved on: 
Tuesday, November 15, 2022

MONTRAL, Nov. 15, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (Monarch or theCorporation) (TSX: GBAR) (OTCQX: GBARF) announced today that it has reached agreements with certain of its creditors for more than $9.3 million (the Debt Settlement).

Key Points: 
  • MONTRAL, Nov. 15, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (Monarch or theCorporation) (TSX: GBAR) (OTCQX: GBARF) announced today that it has reached agreements with certain of its creditors for more than $9.3 million (the Debt Settlement).
  • This will allow Monarch to reduce its accounts payable and allow time for the strategic review of its business.
  • In addition, Monarch returned the $6 million that it held in trust to Investissement Qubec, reducing the amount owing to $12.5 million.
  • We are currently going through a difficult period at Monarch, and we would like to sincerely thank our creditors for their patience and flexibility, said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch.

Monarch Reports Its First Quarter Results

Retrieved on: 
Friday, November 11, 2022

Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements.

Key Points: 
  • Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements.
  • Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements.
  • There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
  • Further information regarding the Corporation is available in the SEDAR database (www.sedar.com) and on the Corporations website at: www.monarchmining.com

Monarch Reports Its Results for the Fourth Quarter and Year Ended June 30, 2022

Retrieved on: 
Thursday, September 29, 2022

For more information, please consult the Corporations consolidated annual financial statements, managements discussion and analysis, and annual information form for the year ended June 30, 2022, which have been filed on SEDAR at www.sedar.com .

Key Points: 
  • For more information, please consult the Corporations consolidated annual financial statements, managements discussion and analysis, and annual information form for the year ended June 30, 2022, which have been filed on SEDAR at www.sedar.com .
  • Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) is a fully integrated mining company that owns four projects, including the Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30years.
  • Other assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarchs wholly owned 750 tpd Beacon Mill.
  • The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarchs actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein.

Monarch Suspends Operations at the Beaufor Mine

Retrieved on: 
Tuesday, September 27, 2022

MONTREAL, Sept. 27, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (Monarch or theCorporation) (TSX: GBAR) (OTCQX: GBARF) reports today that it has suspended its operations at the Beaufor Mine due to financial and operational challenges.

Key Points: 
  • MONTREAL, Sept. 27, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (Monarch or theCorporation) (TSX: GBAR) (OTCQX: GBARF) reports today that it has suspended its operations at the Beaufor Mine due to financial and operational challenges.
  • Following a review of its operations, the Corporation received confirmation of continuing significant discrepancies between the reported grade of the materialmined at Beaufor and the grade of materialprocessed at the Beacon Mill, which is causing continued lower cash flow from operations than expected and generating insufficient funds for the Corporation to continue its operations.
  • Monarch is currently working closely with its lenders, suppliers, customers and potential investors to develop a strategy to fund its activities.
  • We understand that this situation is difficult for our shareholders, employees and stakeholders, said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch.

Monarch Files Technical Report for Its Croinor Gold Project

Retrieved on: 
Monday, September 26, 2022

The mineral resource was calculated at a gold price of US$1,600 per ounce and an exchange rate of 1.30USD/CAD.

Key Points: 
  • The mineral resource was calculated at a gold price of US$1,600 per ounce and an exchange rate of 1.30USD/CAD.
  • MONTREAL, Sept. 26, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (Monarch or theCorporation) (TSX: GBAR) (OTCQX: GBARF) announces that it has filed on SEDAR a National Instrument 43-101 technical report for its Croinor Gold project.
  • Monarch published a press release on August 11, 2022 , which summarized the assumptions and key results contained in the technical report.
  • There are no material differences between the assumptions and estimates contained in Monarchs press release dated August 11, 2022, pertaining to this property, from those contained in the technical report that was filed today, and which is available on Monarchs website (see Technical report ).

Monarch Reports 5.69 g/t Au Over 9.69 m (31.8 ft) at McKenzie Break

Retrieved on: 
Tuesday, September 13, 2022

The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, market or other relevant issues.

Key Points: 
  • The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, market or other relevant issues.
  • The database used for this mineral estimate includes drill results obtained from historical records and up to the recent 2018-2020 drill program.
  • Mineral resources are reported at a cut-off grade of 0.50 g/t Au for the pit-constrained and underground mineral resources are reported at a cut-off grade of 2.38 g/t Au within reasonably mineable volumes.
  • Other assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarchs wholly owned 750 tpd Beacon Mill.

Monarch Provides an Update on Its Operations at the Beaufor Mine

Retrieved on: 
Wednesday, August 31, 2022

MONTRAL, Aug. 31, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (Monarch or theCorporation) (TSX: GBAR) (OTCQX: GBARF) announces that it has made the decision to slow down mining operations at its wholly-owned Beaufor Mine, located east of Val-d'Or, Quebec.

Key Points: 
  • MONTRAL, Aug. 31, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (Monarch or theCorporation) (TSX: GBAR) (OTCQX: GBARF) announces that it has made the decision to slow down mining operations at its wholly-owned Beaufor Mine, located east of Val-d'Or, Quebec.
  • As a result, cash flow from milling operations has been lower than expected.
  • As a result of short-term cash restriction, the Corporation has decided to slow down production activities at the Beaufor Mine.
  • The presence of COVID-19 brings a new reality that we must deal with and better integrate into our production process.