Transaction will reduce Monarch’s cost of acquiring McKenzie Break and Swanson properties by $800,000

Monarch Gold Corporation is pleased to report that it has sold a 0.5% Net Smelter Return (NSR) royalty on the Pandora property to Agnico Eagle Mines Limited.  The Pandora royalty was part of the assets that Monarch acquired from Richmont Mines in October 2017. In return for the Pandora royalty, Monarch’s payments for the McKenzie Break and Swanson properties will be reduced by $800,000, as follows:

“This is a great deal for Monarch, allowing us to reap even more benefits from the Richmont transaction by monetizing a non-core asset,” said Jean-Marc Lacoste, president and chief executive officer of Monarch. “The McKenzie Break property has gained tremendously in value since we started drilling in 2018, as we have been able to expand the deposit and confirm its high-grade potential. As mentioned in our March 20, 2019 press release, we are presently analyzing the results of the 2018 drilling on McKenzie Break and planning the follow-up program for 2019.”  

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