Monarch Gold Appoints Guylaine Daigle to the Corporation's Board of Directors

Ms. Daigle will also serve as the chair of the audit committee

MONTREAL, QC / ACCESSWIRE / April 24, 2020 / MONARCH GOLD CORPORATION ("Monarch" or the "Corporation") (TSX:MQR)(OTCPINK:MRQRF)(FRANKFURT:MR7) is pleased to announce the appointment of Guylaine Daigle, CPA CA, as a director of the Corporation and Chair of the audit committee.

Guylaine Daigle has over 25 years of experience in financial management, primarily in the mining industry. Ms. Daigle has been Vice President, Finance, and a shareholder of G4 Drilling Ltd. (diamond drilling company), CCL Drilling (1993) Inc. (drilling and blasting company), and G4 R&D Inc. (machine shop specializing in drilling and forestry) since December 2006. Previously, she held financial management positions with Deloitte, Ross-Finlay 2000 Inc., and McWatters Mines Inc. as well as auditor positions with accounting firms. Ms. Daigle is a shareholder and director of the Val-d'Or Foreurs and a director of Fondation du Centre Hospitalier de Val-d'Or. She is a chartered accountant and a member of the Ordre des comptables professionnels agréés du Québec (Quebec CPA Order) and holds a bachelor's degree in accounting sciences from the Université du Québec en Abitibi-Témiscamingue.

"I would like to welcome Ms. Daigle to the Board of Directors of Monarch on behalf of the Board, and to thank her for taking on the role of Chair of the Corporation's audit committee," said Michel Bouchard, Chairman of the Board of Directors of Monarch. "Her broad experience with mining companies, mining services companies, and accounting firms will strengthen the financial capabilities of our board of directors. Furthermore, her strong entrepreneurial side is a good fit with Monarch's management style and will be of great help for our future projects, as the gold market outlook continues to improve."

The Board of Directors has granted a total of 100,000 stock options (individually, an "Option" and collectively, the "Options") to a director, effective April 23, 2020. The Options are granted in accordance with the terms and conditions of the Corporation's current stock option plan.

The Options vest in four equal tranches, with each Option entitling the holder to purchase one common share of the Corporation at a price of $0.20 for five years starting on April 23, 2020.

Monarch also announces that Michel Baril and Guy Bourassa have stepped down from the Corporation's board of directors. The board thanks them for their considerable and consistent contribution over their nine years with Monarch and wishes them every success in their future endeavors.

ABOUT MONARCH GOLD CORPORATION

Monarch Gold Corporation (TSX:MQR) is an emerging gold mining company focused on becoming a 100,000 to 200,000 ounce per year gold producer through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns over 370 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Beaufor, Croinor Gold (see video), Fayolle, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill.

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) accept responsibility for the adequacy or accuracy of this press release.

FOR MORE INFORMATION:

Jean-Marc Lacoste 1-888-994-4465
President and Chief Executive Officer jm.lacoste@monarquesgold.com

Mathieu Séguin 1-888-994-4465
Vice President, Corporate Development m.seguin@monarquesgold.com

Elisabeth Tremblay 1-888-994-4465
Senior Geologist - Communications Specialist e.tremblay@monarquesgold.com

www.monarquesgold.com

SOURCE: Monarch Gold Corp.