 MONTREAL, QC ACCESSWIRE August 5, 2021 MONARCH MINING CORPORATION Monarch or the Corporation TSX:GBAROTCQX:GBARF is pleased to announce the closing of the previously announced transaction with Gold Royalty Corp. Gold Royalty GROY whereby Gold Royalty has acquired the following royalty interests from Monarch for cash proceeds of 11.25 million the Transaction: a 2.50 per tonne royalty on all material processed through the Beacon mill originating from the Beaufor mine operations; and a 2.5 net smelter return NSR royalty on each of the Croinor Gold, McKenzie Break and Swanson properties, of which half 1.25 can be bought back by Monarch for 2 million per property in the future, subject to certain conditions being met. As per the terms of the Transaction, Gold Royalty made a first cash payment of 7.5 million at closing and will make the final payment of 3.75 million in six months. 