Monarques Gold Intersects 8.24 g/t Au Over 9 Metres Including 26.38 g/t Au Over 2.6 Metres on its Croinor Gold Project

Drilling confirms grades for planned bulk sampling areas and continues to expand the deposit at depth and to the west

MONTREAL, Sept. 5, 2018 /CNW/ - MONARQUES GOLD CORPORATION ("Monarques", "Monarques Gold" or the "Corporation") (TSXV:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to report additional assay results from the 2018 diamond drilling program at its wholly owned Croinor Gold project 50 kilometres east of Val-d'Or, Québec. The 20,000-metre program started in March 2018 and is focused on the expansion and infilling of the Croinor Gold deposit. The Phase 2 results are from a total of 5,327 metres of drilling in 27 holes (see plan view). Phase 2 drilling is complete, with assays pending, and Phase 3 drilling has started.

The Croinor Gold deposit is hosted in a sheared diorite sill three kilometres long by 60–120 metres wide, striking 295 degrees north and dipping 50–65 degrees to the north. The mineralization is associated with pyrite found within and adjacent to quartz-tourmaline veins. The goal of Phase 2 was to extend the Croinor Gold deposit farther west and infill the two areas slated for underground bulk sampling.

Hole CR-18-606 returned 8.24 g/t Au over 9.0 metres, including 26.38 g/t Au over 2.6 metres. This intersection lies 328 vertical metres below surface, 54 metres north of and 34 metres below the mineralized intersection of hole CN-88-133, which was used to design the deepest stope in the mining plan. Hole CR-18-601, drilled on the western part of the Croinor Gold deposit, 84 metres west of the nearest hole (CR-11-401) on the same horizon, returned 5.30 g/t Au over 1.1 metres in an intersection 336 metres below surface. These results show that the deposit is still open both at depth and to the west, and that further drilling is warranted.

Hole CR-18-610 returned 5.67 g/t Au over 7.0 metres just below the 500-foot level drift of the old mine, enlarging a planned stope on this level.

Infill drilling of two areas slated for bulk sampling returned 18.45 g/t Au over 0.9 metres, 12.00 g/t Au over 1.2 metres and 11.25 g/t Au over 1.0 metres from the area on the 125-foot level and 12.50 g/t Au over 1.1 metres, 6.34 g/t Au over 1.2 metres and 4.68 g/t Au over 1.2 metres from the area on the 250-foot level, in addition to other values shown in the table below. These encouraging numbers confirm and expand the two areas planned for bulk sampling on two different levels.  The area on the 125-foot level is in the western part of the deposit and the area on the 250-foot level is near the old shaft in the middle of the deposit.

"Drilling on Croinor Gold continues to generate excellent results," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "Like Phase 1, Phase 2 was a success, striking mineralized zones in 26 of the 27 holes, returning a number of high-grade intersections and enabling us to confirm the grades and continuity of the gold structures in the planned bulk samples areas and extend the deposit at depth and to the west. As we await the final results for Phase 2, we have commenced Phase 3 drilling, which in addition to definition drilling on planned stopes in the western sector of the deposit is focused on other promising exploration targets on the 151 km²  Croinor Gold property. From what we know of Croinor Gold to date, we believe that its gold discovery potential remains essentially untapped."  

Phase 2 drill results from the Croinor Gold project

Hole Number	Length	From	To	Width*	Grade Au
	(m)	(m)	(m)	(m)	(g/t)
CR-18-592	208	180.5	181.2	0.7	1.66
CR-18-596	91	56.5	58.0	1.5	9.87
Including		57.5	58.0	0.5	26.70
CR-18-598	328	277.0	277.7	0.7	0.64
CR-18-599	111	56.6	57.7	1.1	7.78
CR-18-600	82		Abandoned hole
CR-18-601	436	339.3	340.4	1.1	5.30
CR-18-602	81	51.3	52.1	0.8	0.02
CR-18-603	342	151.8	152.8	1.0	1.40
CR-18-604	202	179.6	180.0	0.4	0.03
CR-18-605	97	57.0	58.0	1.0	4.09
CR-18-606**	637	333.5	342.5	9.0	8.24
Including		333.5	336.1	2.6	26.38
		346.7	347.3	0.6	3.95
CR-18-607	292	175.0	177.4	2.4	2.00
Including		175.5	176.0	0.5	3.12
CR-18-608	193	132.2	133.2	1.0	0.41
CR-18-609	208	112.3	113.2	0.9	0.13
CR-18-610	250	177.0	178.0	1.0	7.30
		180.0	181.0	1.0	5.36
		189.0	196.0	7.0	5.67
Including		189.0	192.0	3.0	7.01
		199.0	199.8	0.8	7.58
CR-18-611	223	188.0	189.0	1.0	29.50
CR-18-612	300	99.8	100.8	1.0	35.90
CR-18-613	142	74.5	75.5	1.0	0.66
CR-18-614	55	38.7	39.3	0.6	0.16
CR-18-615	181	38.85	40.9	2.05	9.66
Including		40.0	40.9	0.9	18.45
		93.5	94.5	1.0	2.35
		112.0	113.0	1.0	7.67
		175.0	176.35	1.35	3.41
CR-18-616	181	60.4	61.6	1.2	6.34
		66.2	67.4	1.2	4.68
CR-18-617	130	36.8	37.6	0.8	0.46
CR-18-618	199	73.3	74.0	0.7	4.54
CR-18-619	151	28.0	29.2	1.2	12.00
		32.8	34.8	2.0	6.60
CR-18-620	70	39.0	41.2	2.2	6.72
Including		39.0	40.0	1.0	11.25
CR-18-621	85	66.5	67.6	1.1	12.50
CR-18-622	52	42.0	43.0	1.0	3.07

*	The width shown is the core length. True width is estimated to be 90-95% of the core length.
**	Hole CR-18-586 was drilled down dip, parallel to the diorite, to test for the presence of multiple directions of quartz veining. The width shown is the core length. True width is estimated to be 30-35% of the core length.

Sampling normally consists of sawing the core into two equal halves along its main axis and shipping one of the halves to the ALS Minerals laboratory in Val-d'Or for assaying. The samples are crushed, pulverized and assayed by fire assay with atomic absorption finish. Results exceeding 3.0 g/t are re-assayed using the gravity method, and samples containing gold grains are assayed using the metallic sieve method. Monarques uses a comprehensive QA/QC protocol, including the insertion of standards, blanks and duplicates.

The technical and scientific content of this press release has been reviewed and approved by Ronald G. Leber, P.Geo., the Corporation's qualified person under National Instrument 43-101.

ABOUT MONARQUES GOLD CORPORATION

Monarques Gold Corporation (TSXV: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 close to 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, the Croinor Gold (see video), McKenzie Break and Swanson advanced projects and the Camflo and Beacon mills, as well as six 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 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.

SOURCE Monarques Gold Corporation

Jean-Marc Lacoste, President and Chief Executive Officer, 1-888-994-4465, [email protected], www.monarquesgold.com; Elisabeth Tremblay, Senior Geologist - Communications Specialist, 1-888-994-4465, [email protected], www.monarquesgold.com