Monarch Continues Underground Drilling at the Beaufor Mine; Recent Results From the “Q Zone” Include 122.0 g/t Au Over 1.4 m, 20.74 g/t Over 3.3 m, 83.2 g/t Over 0.5 m and 18.87 g/t Over 1.2 m

MONTREAL, June 16, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION (“Monarch” or the “Corporation”) (TSX:GBAR.TO) (OTCQX:GBARF) is pleased to announce additional results from its 2021-2022 underground drilling program on its wholly-owned Beaufor Mine gold project, located 20 kilometres east of Val-d’Or, Québec. The recently received results are from the Q Zone located in the lower level of the Beaufor mine, and include 122.0 g/t Au over 1.4 m, 20.74 g/t Au over 3.3 m, 83.2 g/t Au over 0.5 m and 18.87 g/t Au over 1.2 m. The Q Zone has been mined through much of Beaufor’s recent history and has proven to be both continuous along strike and at depth and of considerable width. Other holes drilled in the area throughout 2021 and 2022 also returned positive results. These holes have been incorporated into the new geological model, which includes all recent and historical data and is based on BBA’s geological interpretation as seen in their 2021 NI 43-101-compliant resource estimate. These positive results have encouraged Monarch to continue drilling the Q Zone at depth, while strategically extending holes to reach the deeper R and S zones, which have yet to be mined.