MONTREAL, Dec. 18, 2018 /CNW/ - MONARQUES GOLD
CORPORATION ("Monarques" or the "Corporation")
(TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is
pleased to report that it has consolidated its position around its
Wasamac property through an exchange of mineral claims with Globex
Mining Enterprises Inc. ("Globex") (TSX: GMX).
The transaction has enabled Monarques to extend the eastern part
of the Wasamac property by 16 additional claims and the western
part of the property by an additional claim adjacent to the land
acquired last summer, where the proposed mining facilities will be
located, as indicated in the feasibility study issued on
December 3, 2018 (see the feasibility study). The transaction
also extends the Corporation's McKenzie Break property by adding a
claim adjacent to that property and includes an agreement to store
the old Wasamac drill core on Globex's Francoeur property for a
period of two years.
In return, Globex receives 63 Monarques mining claims acquired
during the transaction with Richmont Mines.
"This transaction will make the Wasamac project even more
attractive to a potential partner," said Jean-Marc Lacoste, President and CEO of
Monarques. "In fact, Wasamac has been attracting considerable
interest since the feasibility study was filed."
Finally, the Corporation has received a letter from Quebec's Ministry of Energy and Natural
Resources confirming the official status of the three mining
concessions on the Wasamac property.
ABOUT MONARQUES GOLD CORPORATION
Monarques 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
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 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 Monarques' 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.
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SOURCE Monarques Gold Corporation