Monarques Gold Reports its Second Quarter Results

Monarques Gold (“Monarques” or the “Corporation”) (TSX.V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to report its results for the second quarter ended December 31, 2017. All amounts are in Canadian dollars unless otherwise indicated.

Beaufor Mine

• Production and sale of 5,444 ounces of gold in the second quarter, a 62% increase over the 3,380 ounces produced in the prior quarter by the previous owner and a 16% increase over the quarterly average of 4,715 ounces produced during the prior nine-month period.
• Average selling price of $1,583 (US $1,245) per ounce sold.
• Production cash cost of $1,338 (US $1,052) per ounce sold, down 31% from $1,929 (US $1,540) in the prior quarter under the previous owner.
• All-in sustaining cost for Beaufor/Camflo of $1,525 (US $1,199) per ounce sold, down 39% from $2,491 (US $1,989) in the prior quarter under the previous owner.

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