Mr. Jean-Marc Lacoste reports

MONARCH GOLD RESUMES DRILLING ON CROINOR GOLD PROPERTY

Monarch Gold Corp. has resumed diamond drilling at its wholly owned Croinor Gold property, 50 kilometres east of Val d'Or, Que. Before being suspended due to the winter freeze, the 2018 diamond drill program enabled Monarch to extend the limits of the deposit, returning numerous intersections with high-grade gold values over good widths, such as 18.40 grams per tonne Au over 1.6 metres, 8.24 g/t Au over 9.0 metres, 43.25 g/t Au over 2.1 metres, 74.23 g/t Au over 2.0 metres and 17.26 g/t Au over 1.95 metres (see press releases dated July 10, 2018, Sept. 5, 2018, Oct. 4, 2018, Jan. 15, 2019, and Feb. 4, 2019, for a compilation of the 2018 drill results). The deposit remains open along strike and at depth.

The purpose of the 1,750-metre drilling program that will start in February, 2019, is:

• To finish the 2018 drilling program;
• To drill high-potential targets on the Croinor gold property.

"Exploration to date on Croinor gold has demonstrated the strong potential for increasing the size of the Croinor gold deposit and finding new zones on the property," said Jean-Marc Lacoste, president and chief executive officer of Monarch. "This greenfield drilling program on high potential targets is further proof of Monarch Gold's confidence in finding more gold on its 151-square-kilometre property."

The technical and scientific content of this press release has been reviewed and approved by Ronald G. Leber, PGeo, the corporation's qualified person under National Instrument 43-101.

About Monarch Gold Corp.

Monarch Gold is an emerging gold mining company focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The corporation currently owns close to 300 square km of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor mine, the Croinor gold, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as other promising exploration projects. It also offers custom milling services out of its 1,600-tonne-per-day Camflo mill.

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