Mr. Jean-Marc Lacoste reports
MONARQUES GOLD ANNOUNCES A CUSTOM MILLING CONTRACT FOR UP TO 55,000 TONNES WITH ELDORADO GOLD
Monarques Gold Corp. has signed a custom milling contract with Eldorado Gold Corp. to process ore from the Lamaque gold mine, located east of Val D'or, Que. The contract provides for the corporation to process about 50,000 to 55,000 tonnes of ore from the Lamaque mine ore at the Camflo mill until Dec. 31, 2017. The contract can be extended by mutual agreement of both parties.
"This is very good news for Monarques and our team at the Camflo mill," said Jean-Marc Lacoste, president and chief executive officer of Monarques. "This contract will enable the Camflo mill to operate at 90 per cent of its 1,200-tonne-per-day capacity, and will effectively reduce the operating costs for the Beaufor mine over the coming months. We have also received a certificate of authorization from Quebec's ministry of sustainable development, environment and climate change to increase the operating capacity of the Camflo mill to 1,600 tonnes per day, allowing us to offer custom milling services to other prospective clients."
The technical and scientific content of this press release has been reviewed and approved by Marc-Andre Lavergne, the corporation's qualified person under National Instrument 43-101.
About Monarques Gold Corp.
Monarques Gold 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 kilometres of gold properties, including the Beaufor mine, the Croinor gold 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.
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