Section 1: Vertical section looking N275 showing the location of Q Zone's extension

第1部分：顯示Q區延伸位置的垂直切面N275

Longitudinal 1: Vertical longitudinal section looking N358 showing the location of Q Zone's extension

縱向1：垂直縱向剖面圖N358顯示Q區延伸的位置

MONTREAL, March 17, 2022 (GLOBE NEWSWIRE) -- MONARCH MINING CORPORATION ("Monarch" or the "Corporation") (TSX: GBAR) (OTCQX: GBARF) is pleased to announce additional results from its 2021 underground drilling program on its wholly-owned Beaufor Mine gold project, located 20 kilometres east of Val-d'Or, Québec. The results presented here come exclusively from hole BEU-21-30-032, targeting the western strike extension of the Q Zone. The target area returned an impressive 19.05 g/t Au over 6.8 m, including 12.56 g/t Au over 1.4 m and 54.68 g/t Au over 2.0 m. These diamond drill results are significant and exciting as they confirm the continuity of this ore zone for at least 150 m westward along strike and 150 m down-dip. The Q Zone has been mined through much of Beaufor's recent history and has proven to be both continuous and of considerable width. Other holes drilled in the area throughout 2021 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 Inc.'s geological interpretation as seen in their 2021 NI 43-101-compliant resource estimate.

蒙特利爾，2022年3月17日(環球通訊社)--帝王礦業公司("帝王“或”公司))(多倫多證券交易所股票代碼：GBAR)(OTCQX：GBARF)很高興宣佈其全資擁有的位於魁北克省Val-d‘Or以東20公里的BEAUFOR礦山金礦項目的2021年地下鑽探計劃的額外結果。這裏給出的結果完全來自BEU-21-30-032井，目標是Q帶的西向延伸。目標區在6.8米以上的含金量高達19.05克/噸，其中1.4米以上的含金量為12.56克/噸，2.0米以上的含金量為54.68克/噸。這些鑽石鑽探結果意義重大，令人振奮，因為它們證實了該礦帶沿走向向西至少150米和向下150米的連續性。Q區在BEAUFOR近期歷史的大部分時間裏都被開採過，事實證明它既是連續的，也是相當寬的。2021年全年在該地區鑽探的其他孔也取得了積極的結果。這些洞已被納入新的地質模型，該模型包括所有最近和歷史數據，並基於BBA Inc.在其2021年NI 43-101兼容的資源估計中看到的地質解釋。

The Beaufor Mine initially began commercial production in the early 1930s and over the years has produced over 1.1 million ounces of gold. In June 2020, the Corporation initiated a 42,500-metre diamond drilling program to test two types of targets: the areas around historical high-grade intersections near the existing underground infrastructure, and isolated resource blocks, which are typically defined by a single drill intersection. Both of these "near-mine" targets can often be tested from the existing underground workings, generally by holes less than 200 metres long. To date, 283 holes totalling 47,038 metres have been drilled during the exploration and definition program. Given the positive results, additional holes are now being drilled to allow the zones in question to be converted into reserves and included in a future mine plan. Monarch is continuing its exploration definition drilling, with five underground drill rigs, and expects to restart operations by June 2022.

BEAUFOR礦最初於20世紀30年代初開始商業生產，多年來已生產了超過110萬盎司黃金。2020年6月，該公司啟動了一項42 500米長的鑽石鑽探計劃，以測試兩種類型的目標：現有地下基礎設施附近的歷史高等級十字路口周圍地區，以及通常由單一鑽探交叉路口界定的孤立資源區塊。這兩個“近雷”目標通常都可以從現有的地下工作場所進行測試，通常是通過不到200米長的洞進行測試。到目前為止，在勘探和確定計劃期間已經鑽了283個洞，總計47,038米。鑑於積極的結果，目前正在鑽探更多的孔，以便將有關區域轉換為儲量，並納入未來的採礦計劃。Monch正在繼續其勘探定義鑽探，擁有5個地下鑽機，預計將在2022年6月重新開始運營。

Underground development and rehabilitation are ongoing in the W and 350 zones, which are easily accessible from the surface ramp located 100 metres from the main Beaufor shaft and presently extends to a vertical depth of 180 metres.

W區和350區的地下開發和修復正在進行中，從距離BEAUFOR主豎井100米的地面坡道很容易到達，目前延伸到180米的垂直深度。

BBA Inc. finalized the mineral resource estimate ("MRE") for the Beaufor Mine in August 2021. An additional 111 holes totalling 26,600 metres have been drilled since.

BBA Inc.於2021年8月敲定了BEAUFOR礦的礦產資源評估(“MRE”)。自那以後，又鑽了111個洞，總計26,600米。

"The results of this underground drilling program are very encouraging and continue to show the strong potential of the Beaufor Mine at depth," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. "We are thrilled to be able to confirm the high-grade nature and significant width of the Q Zone towards the west. Additional drilling is definitely warranted to continue expanding this zone."

Monch公司總裁兼首席執行官讓-馬克·拉科斯特説：“這項地下鑽探計劃的結果非常令人鼓舞，並繼續顯示出BEAUFOR礦在深部的強大潛力。“我們很高興能夠確認Q區向西的高品位和相當大的寬度。我們肯定有理由繼續擴大這一區的鑽探。”

Drill results are obtained by sawing the drill core into equal halves along its main axis and shipping one of the halves to ALS Canada in Val-d'Or, Quebec, and AGAT Laboratories in Mississauga, Ontario, for assaying. The samples are crushed, pulverized and assayed by fire assay, with atomic absorption finish. Samples exceeding 10.0 g/t Au are re-assayed using the gravity method and samples containing visible gold are assayed using the metallic screen method. Monarch uses a comprehensive QA/QC protocol, including the insertion of standards, blanks and duplicates.

鑽探結果是將鑽芯沿着主軸等分成兩半，然後將其中一半運往魁北克省Val-d‘Or的ALS Canada和安大略省密西索加的AGAT實驗室進行分析。樣品粉碎，粉碎，用火焰分析法檢測，原子吸收光譜分析。超過10.0g/t Au的樣品用重力法重新測定，含可見金的樣品用金屬屏蔽法測定。Monch使用全面的QA/QC協議，包括插入標準、空白和副本。

The technical and scientific content of this press release has been reviewed and approved by Christian Tessier, P.Geo., the Corporation's qualified person under National Instrument 43-101.

本新聞稿中的技術和科學內容已由Christian Tessier，P.Geo審查和批准，他是該公司根據National Instrument 43-101規定的合格人員。

About BeauforThe Beaufor Mine is located within the Bourlamaque Batholith at the eastern contact with the Dubuisson Formation. The Bourlamaque Batholith, a synvolcanic intrusion, is a major geological feature of the Val-d'Or mining camp. It is a quartziferous granodiorite cut by fine-grained diorite dykes. Gold mineralization occurs in veins associated with shear zones dipping moderately south. Mineralization is associated with quartz-tourmaline-pyrite veins resulting from the filling of shear and extension fractures. Gold-bearing veins show a close association with mafic dykes intruding the granodiorite. A National Instrument 43-101 resource estimate for the Beaufor Mine property was prepared for Monarch Mining in August 2021 by Charlotte Athurion, P. Geo, BBA Inc. The mineral resource estimate is listed in the table below.

關於貝奧福BEAUFOR礦位於Bourlamaque巖基內，與Dubuisson組東部接觸。Bourlamaque巖基是同火山侵入體，是Val-d‘Or礦營的主要地質特徵。它是由細粒閃長巖牆切割而成的含石英花崗閃長巖。金礦化賦存於與適度向南傾斜的剪切帶有關的礦脈中。礦化與剪切斷裂和伸展斷裂充填作用形成的石英-電氣石-黃鐵礦脈有關。含金脈與侵入花崗閃長巖的鎂鐵質巖牆密切相關。英國銀行家協會Charlotte Athurion，P.Geo，BBA Inc.於2021年8月為Monch Mining編制了國家儀器43-101關於BEAUFOR礦山資產的資源評估。礦產資源評估列於下表。

Table 1: 2021 mineral resource estimate for the Beaufor Mine

表1：2021年BEAUFOR礦礦產資源估算

Mineral resource estimate notes:

礦產資源估算附註：

About MonarchMonarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) is a fully integrated mining company that owns four projects, including the Beaufor Mine, which has produced more than 1 million ounces of gold over the last 30 years. Other assets include the Croinor Gold, McKenzie Break and Swanson properties, all located near Monarch's wholly owned 750 tpd Beacon Mill. Monarch owns 29,504 hectares (295 km2) of mining assets in the prolific Abitibi mining camp that host a combined measured and indicated gold resource of 478,982 ounces and a combined inferred resource of 383,393 ounces.

關於君主Monch礦業公司(多倫多證券交易所股票代碼：GBAR)(多倫多證券交易所股票代碼：GBARF)是一家完全一體化的礦業公司，擁有四個項目，其中包括BEAUFOR礦，該礦在過去30年中生產了100多萬盎司黃金。其他資產包括Croinor Gold、McKenzie Break和Swanson資產，所有這些資產都位於Monch全資擁有的750噸/日的Beacon Mill附近。君主擁有29504公頃(295公里)的土地2(A)多產的Abitibi採礦營地的採礦資產，該營地有478,982盎司的已測量和指示的黃金資源，以及383,393盎司的綜合推斷資源。

Forward-Looking Statements The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.

前瞻性陳述本新聞稿中的前瞻性陳述涉及已知和未知的風險、不確定因素和其他因素，這些風險、不確定因素和其他因素可能會導致君王公司的實際結果、業績和成就與其中明示或暗示的結果、業績或成就大不相同。多倫多證券交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。

Table 2: Beaufor Mine assay results and significant intervals (Underground Drill Holes)

表2：BEAUFOR地雷測試結果和重要間隔(地下鑽孔)

*The width shown is the core length. The true width is taken into account in the mineral resource estimate.

*顯示的寬度為巖芯長度。在礦產資源量估算中考慮了真實寬度。

Table 3: Beaufor Mine drill hole location

表3：BEAUFOR地雷鑽孔位置

Table 4: Monarch combined gold resources

表4：君主綜合黃金資源

1 Source: Monarch Gold prefeasibility study (January 19, 2018). This resource was completed for Monarch Gold and has not been reviewed by a qualified person for Monarch Mining as required under National Instrument 43-101 and is thus considered as an historical estimate. Furthermore, a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves; and therefore, Monarch is not treating the historical estimate as current mineral resources or mineral reserves.2 Numbers may not add due to rounding.

1資料來源：君主黃金預可行性研究(2018年1月19日)。這一資源是為Monch Gold完成的，沒有根據National Instrument 43-101的要求由Monch Mining的合格人員進行審查，因此被視為歷史估計。此外，有資格的人沒有做足夠的工作來將歷史估計歸類為當前礦產資源或礦產儲量；因此，君主沒有將歷史估計視為當前礦產資源或礦產儲量。2由於四捨五入，數字可能無法相加。

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