GoldUSD 1,486.10
SilverUSD 17.44

Beaufor Mine

Summary:

Beaufor is an operating underground gold mine in Val-d’Or, Quebec operated by Monarch. Since 1933, Beaufor produced more than 1.16 Moz at a historical grade of 7.5g/t gold. Production activities have been extended to April 2019 with the goal to increase the high-grade resource via drilling. Beaufor currently has a reserve of 30.6Koz of gold grading 6.83g/t within an M&I resource of 85.4Koz of gold grading 7.67g/t. Monarch Gold holds a 100% interest in the Beaufor Mine, which includes two mining leases, a mining concession and 23 mining claims covering an area of 5.9 km2. The mine is located at about 20 kilometres northeast of the town of Val-d’Or, in the Abitibi-East township, in the Province of Quebec.

Interest: 1.0% NSR Royalty (The royalty has a 100,000-ounce exemption)

Location: Rouyn-Noranda, Quebec

Project Status: Producing

Counterparty: Monarch Gold (TSX:MQR)

Table of estimated mineral reserves

Estimated mineral resource table, exclusive of mineral reserve

Please see the related technical report on the Beaufor Reserves/Resources here or visit www.monarquesgold.com for more information.