Toronto, Ontario–(Newsfile Corp. – July 23, 2020) – Monarca Minerals Inc. (TSXV: MMN) (“Monarca” or the “Company”) is pleased to announce a non-brokered private placement of up to 40,000,000 units of the Company (the “Units”) at a price of C$0.05 per Unit for gross proceeds of up to C$2,000,000 (the “Offering”). Each Unit shall consist of one common share of the Company (each a “Common Share”) and one common share purchase warrant (each a “Warrant”). Each Warrant will be exercisable by the holder thereof to acquire one Common Share at a price of C$0.075 at any time on or before the date which is 24 months after the closing of the Offering. Red Cloud Securities Inc. will be acting as finder for the Company under the Offering.