Monarch Gold Commences Trading on the OTCQX Market

MONTREAL, August 5, 2020 - Monarch Gold Corp. ("Monarch" or the "Corporation") (TSX:MQR)(OTCQX:MRQRF)(FRANKFURT:MR7) is pleased to announce that the Corporation has qualified to trade on the OTCQX® Best Market. Monarch upgraded to the OTCQX market from the Pink® market.

Monarch begins trading today on OTCQX under the symbol "MRQRF". U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com. Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

"We are very pleased to be trading on the OTCQX," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch. "This is another important milestone for Monarch, which will facilitate trading in our stock for US investors as we continue to expand our shareholder base to a larger pool of retail and institutional investors. The timing is perfect as we're seeing an increase in volume coming from US investors over the last three months."

ABOUT OTC MARKETS GROUP INC.

OTC Markets Group Inc. (OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors. To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

ABOUT MONARCH GOLD CORPORATION

Monarch Gold Corp. (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 315 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold, which includes proven and probable reserves of 1.8 million ounces of gold), the Beaufor, Croinor Gold (see video), and McKenzie Break advanced projects, the Camflo and Swanson exploration 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) accepts 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.