Cartier Resources {TSX.V: ECR}

Announced the purchase of a 2% NSR from Monarch Gold Corporation {TSX: MQR} for certain claims on the Chimo mine property.

The purchase consideration is CAD $350,000.

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MONTREAL, June 19, 2019 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (MQR.TO) (MRQRF) (MR7.F) is pleased to announce that its wholly-owned subsidiary Louvem Mines Inc. (“Louvem”) has sold a 2% net smelter return (“NSR”) royalty on certain claims of the Chimo Mine property to Cartier Resources Inc. (“Cartier”) (ECR.V) in consideration of a cash payment of $350,000. Monarch acquired Louvem as part of the acquisition of Richmont Mines’ Quebec assets in October 2017.

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“This transaction allows us to monetize an asset that did not fit with our core business,” said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. “The funds will be allocated to the development of our priority projects in Abitibi. Furthermore, we retain a portfolio of NSR royalties ranging from 0.50% to 2.50% on the Chalice Gold Mines property, which surrounds the Chimo Mine property.”

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