Monarch Mining Corporation announces the closing of the

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MONTREAL, April 06, 2022 (GLOBE NEWSWIRE) — MONARCH MINING CORPORATION (“Monarch“or the”society”) (TSX: GBAR) (OTCQX: GBARF) is pleased to announce the closing of the previously announced transaction with Gold Royalty Corp. (“golden royalty”) (NYSE: GROY) whereby Gold Royalty acquired the following royalty interests from Monarch and eliminated subsequent buyouts for cash proceeds of C$4.5 million (the “Transaction”):

  • (i) an additional royalty of C$1.25 per tonne on all material processed by the Beacon plant originating from the Beaufor mine, and each of the Croinor Gold, McKenzie Break and Swanson properties, and all future properties of the Company ;
  • (ii) an additional net smelter yield of 0.25% (“NSR”) royalty on each of the McKenzie Break, Croinor Gold and Swanson properties; and
  • (iii) the elimination of the 1.25% royalty buyouts on each of the McKenzie Break, Croinor Gold and Swanson properties.

Laurentian Bank Securities Inc. acted as financial advisor to Monarques in connection with the transaction.

About Gold Royalty
Gold Royalty Corp. is a gold-focused royalty company that provides creative financing solutions to the metals and mining industry. Its mission is to acquire similar royalties, streams and interests at different stages of the mine life cycle in order to build a balanced portfolio offering attractive short, medium and long-term returns for its investors. Gold Royalty’s diversified portfolio currently consists of net smelter return royalties on gold properties located in the Americas.

About Monarch
Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) is a fully integrated mining company with four projects, including the Beaufor mine, which has produced more than 1 million ounces of gold over the past 30 years. Other assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near the 750 tpd Beacon mill wholly owned by Monarch. Monarch owns 29,504 hectares (295 km2) mining assets in the prolific Abitibi mining camp which contain combined measured and indicated gold resources of 478,982 ounces and combined inferred resources of 383,393 ounces.

Forward-looking statements
The forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch’s actual results, performance or achievements to be materially different from any results, performance or achievements expressed or implied. -heard. Neither the 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:

www.monarchmining.com

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