Toronto, Ontario--(Newsfile Corp. - April 16, 2018) - Monarca Minerals Inc. (TSXV: MMN) ("Monarca" or the "Company") is pleased
to provide an update on its recent activities.
Tejamen Project
Monarca has completed the re-logging of 202 reverse circulation drill holes and 10 core holes in San Augustin in the state of
Durango. The purpose of the re-logging exercise is to design a new drill program once the surface rights have been secured.
Discussions regarding the surface rights at Tejamen are moving forward on a number of fronts. Carlos Espinosa, the President of
Monarca, has met with municipal, state and federal officials, and recently Monarca engaged a Mexican consulting firm specialized in
community relations in Mexico with strong track record resolving similar issues to those that Monarca is facing at Tejamen
project
Together, Monarca and its the Mexican consulting firm are working on the new strategy to approach Tejamen's community while
keeping Federal, State and Municipal governments involved to be consistent on the strategy, information and actions we are
taking.
Carlos Espinosa will continue meeting on a regular basis with government officials and other Mexican stakeholders as well as the
consultants to continue working on the negotiation of the surface rights.
San Jose Property
On November 21, 2017 Monarca announced the signing of a non-binding Letter of Intent (LOI) to puchase the San Jose Property
(5,580 hectares) in Chihuahua, Mexico. Terms of the LOI call for payment of US$20,000 on execution of the LOI (paid), US$20,000 on
execution of a definitive agreement, US$50,000 on the first anniversary of the definitive agreement and US$60,000 on the second
anniversary of the definitive agreement. The owners retain a 2% NSR. One percent of the NSR can be purchased by Monarca for
US$100,000. Back taxes on the property of US$390,000 will be paid over a period of time. Concession taxes per year are
approximately US$46,000. Monarca has extended the initial four month due diligence period to July 8, 2018 in order to conduct
additional due diligence. The San Jose Property, upon successful completion of ongoing fieldwork could be an excellent addition to
Monarca's portfolio of properties.
The San Jose Property has many similarities to the nearby Bismark Mine which is 50km to the to the southeast and has been in
production since 1993. Monarca's preliminary work seems to indicate higher levels of gold mineralization and significant silver,
lead and zinc grades. The Bisamark Mine was a blind discovery utilizing geophysics, primarily IP, which indicated sulfide
concentrations at depth.
General
Monarca's mineral properties continue to be in good standing. Monarca will stay the course by concentrating on Tejamen, our
flagsip property, while searching for other properties like San Jose that have not been subject to modern exploration techniques
and provide the opportunity to secure a large prospective land position at reasonable cost. Monarca is working other iniatives that
will be announced if and when they materialize.
Qualified Person
Michael R. Smith is the Qualified Person for Monarca Minerals Inc. He is a Registered Member, #04167376 (Geology), of the
Society for Mining, Metallurgy & Exploration (SME). He has reviewed and approved of all technical data in this Press Release.
About Monarca Minerals Inc.
Monarca is a Canadian company focusing on the exploration and development of silver projects along a highly productive
mineralized belt in Mexico. The Company has a portfolio of silver projects including a mineral resource of 28.7 million ounces of
silver (19.8 million tonnes at 45.0 g/t Ag) at its Tejamen deposit.
For further information, please contact:
Allan Folk
Interim Chief Executive Officer
Monarca Minerals Inc.
E: Afolk.bb@gmail.com
Cautionary Note Regarding Forward-Looking Statements Forward-Looking Statements:
The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other
factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that
could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to
the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in
this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure
issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are
reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
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