• The technical report shows a pit-constrained Indicated resource of 405,600 tonnes at an average grade of 5.42 g/t Au for a total of 70,630 ounces of gold, and an underground Indicated resource of 300,800 tonnes at an average grade of 4.17 g/t Au for a total of 40,380 ounces.
• The resource was calculated at a US$1,300 gold price with an exchange rate of 1.33 US$/CA$ per troy ounce.
• Monarch has a combined Measured and Indicated resource of 3.3 million ounces of gold and an Inferred resource of 1.1 million ounces (see table at the end of the press release).

MONTREAL, QUEBEC / ACCESSWIRE / October 22, 2019 / MONARCH GOLD CORPORATION ('Monarch' or the 'Corporation') (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) announces that it has filed on SEDAR a National Instrument 43-101 technical report for its Fayolle gold project. Monarch published a press release on September 10, 2019 (see press release), which summarized the assumptions and key results contained in the technical report. There are no material differences between the assumptions and estimates contained in Monarch's press release dated September 10, 2019, pertaining to this property, from those contained in the technical report that was filed today, and which is available on Monarch's website (see technical report).

The technical and scientific content of this press release has been reviewed and approved by Marc-André Lavergne, Eng., the Corporation's qualified person under National Instrument 43-101.

ABOUT MONARCH GOLD CORPORATION

Monarch Gold Corporation (TSX: MQR) is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns over 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor mine, Croinor Gold (see video), Fayolle, McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as other promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.

Forward-Looking Statements

The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.

FOR MORE INFORMATION:

Jean-Marc Lacoste 1-888-994-4465
President and Chief Executive Officer [email protected]

Mathieu Séguin 1-888-994-4465
Vice President, Corporate Development [email protected]

Elisabeth Tremblay 1-888-994-4465
Senior Geologist - Communications Specialist [email protected]
www.monarquesgold.com

Table 1 - Monarch combined gold resources

SOURCE: Monarch Gold Corporation