Monarques Gold intersects 12.71 g/t Au over 9.9 metres (33 feet) on Croinor Gold

MONTREAL, Jan. 19, 2017

MONTREAL, Jan. 19, 2017 /PRNewswire/ - MONARQUES GOLD CORPORATION ("Monarques" or the "Corporation") (TSX-V: MQR) (FRANKFURT: MR7) is pleased to provide an update on the 10,000-metre drilling program on its Croinor Gold project, 70 km east of Val-d'Or, Quebec. The program focused mainly on the Croinor Gold deposit, but also included some exploration drilling in the Gold Bug sector. All the drilling is now complete, with some results still pending on Croinor Gold. Furthermore, five holes drilled on Gold Bug are currently being logged and will be assayed in the coming weeks.

The program on Croinor Gold had two objectives: 1) to increase the Inferred resource, and 2) to increase the Indicated resource and check grade reproducibility (see longitudinal map). Hole CR-16-512 was designed to achieve the second objective. It returned 12.71 g/t Au over 9.9 metres (33 feet), confirming the high grades obtained in historical holes CN-89-135 (24.30 g/t Au over 2.7 metres) and CR-15-431 (15.12 g/t Au over 4.0 metres). The mineralization consists of multiple quartz-tourmaline veins within a shear zone, with visible gold. Visible gold was also reported in historical drilling. Lengths are expressed as measured along the core axis. True thickness has not been determined, and high grades are cut to 70 g/t.

"The results for Hole CR-16-512 once again attest to the presence of high-grade economic intersections at Croinor Gold, and confirm the reproducibility of the high grades obtained from historical drilling," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "The program has also shown that the Croinor Gold gold system remains open in depth, and it will therefore be thoroughly tested at depth during our next program. In short, this program has allowed us to improve our understanding of the controls on mineralization, as well as the structural elements influencing deposit morphology. Together, these elements will enable us to develop a better mining plan for the upcoming update of our prefeasibility study."

The table below shows all the results for the 2016 drilling program on Croinor Gold: