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## Monarch Mining Corporation Enters into Binding Agreements for Sale of Properties

Montreal, March 04, 2024 (GLOBE NEWSWIRE) – **MONARCH MINING CORPORATION** (ÔÇ£MonarchÔÇØ or the ÔÇ£CorporationÔÇØ) (TSX: GBAR) is pleased to announce that it has entered into binding agreements for the sale of its Beaufor, McKenzie Break, and Swanson properties (the ÔÇ£TransactionsÔÇØ). These agreements mark the culmination of the CorporationÔÇÖs previously announced court-approved sale and investment solicitation process (ÔÇ£SISPÔÇØ) conducted by PricewaterhouseCoopers Inc. in its capacity as Monitor in the CorporationÔÇÖs ongoing proceedings under the Companies’ Creditors Arrangement Act (CCAA Proceedings).

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The Corporation has executed an asset purchase agreement with Probe Gold Inc. (ÔÇ£ProbeÔÇØ) for the sale of the Beaufor Property and the McKenzie Break Property. Additionally, the Corporation has entered into another asset purchase agreement with Bullrun Capital Inc. (ÔÇ£BullrunÔÇØ) for the sale of the Swanson Property.

These agreements are subject to approval by the Superior Court of Quebec within the CCAA Proceedings. The closing of the Transactions is contingent on various conditions, including Court approval and all necessary regulatory approvals. The specific consideration payable under the Transactions remains confidential to maintain the integrity of the SISP in case the conditions precedent are not met.

The Toronto Stock Exchange and its Regulation Services Provider do not assume responsibility for the accuracy or adequacy of this press release.

For more detailed information regarding the Corporation, interested parties can access the SEDAR+ database (www.sedarplus.ca) and visit the CorporationÔÇÖs official website at: www.monarchmining.com.

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