MONTREAL, Oct. 5, 2018 /CNW/ - MONARQUES GOLD
CORPORATION ("Monarques" or the "Corporation") (TSXV: MQR)
(OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to announce that it
acquired a 2% net smelter royalty ("NSR") on the Chimo-Boyd claims
in exchange for the issuance of 170,000 common shares of Monarques
at a price of $0.28 per share and a
cash payment of $8,400. On
September 10, 2018, Monarques
announced the sale of its remaining interest in the Chimo property
(including the Chimo-Boyd claims) to Chalice Gold Mines Ltd.
"With this transaction, we now hold a 2.5% NSR on almost all of
the 73 claims forming the Chimo property, with the exception of a
few claims for which we hold a 0.5% NSR," said Jean-Marc Lacoste, President and Chief Executive
Officer of Monarques. "If the property were ever to go into
production, we would be able to reap the benefits of this
investment at a more than reasonable cost."
The common shares issued pursuant to this transaction are
subject to a statutory hold period of four months and one day from
the issuance of the shares.
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 five 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.
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SOURCE Monarques Gold Corporation