Canada NewsWire
MONTREAL, Oct. 18, 2017
MONTREAL, Oct. 18, 2017 /CNW/ - MONARQUES GOLD
CORPORATION ("Monarques" or the "Corporation") (TSX-V: MQR) (FRANKFURT: MR7) is pleased to announce that Globex Mining
Enterprises Inc. ("Globex") (TSX: GMX) has purchased the 1.5% Net Smelter Royalty (NSR) applicable to Globex's wholly-owned
Francoeur/Arntfield gold property. As consideration for the royalty, Globex made a $25,000 cash payment to Monarques and cancelled a 0.5% NSR payable by Monarques to Globex on 11 claims located
on the eastern portion of Monarques' Wasamac gold property. In addition, Globex has extended Monarques' right to store Wasamac
core at Globex's Francoeur Mine site to June 30, 2019.
"As part of our strategy to control costs, this agreement will reduce any future royalty payments on our Wasamac property,"
said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "The agreement also
allows us to lock in short-term cash on the Globex royalty and savings for our Wasamac project."
ABOUT MONARQUES GOLD CORPORATION
Monarques Gold Corp (TSX-V: MQR) is an emerging gold producer focused on pursuing growth through its large portfolio of
high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently
owns more than 240 km² of gold properties (see map), including
the Beaufor Mine, the Croinor Gold (see video) and Wasamac advanced projects, and the Camflo and Beacon mills, as well as six promising exploration
projects. It also offers custom milling services out of its 1,200 tonne-per-day Camflo mill. Monarques enjoys a strong financial
position and has more than 150 skilled employees who oversee its operating, development and exploration activities.
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 Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press
release.
SOURCE Monarques Gold Corporation
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