QUEBEC CITY, QUEBEC--(Marketwire - July 20, 2012) - MONARQUES RESOURCES INC. ("Monarques" or the "Corporation") (TSX VENTURE:MQR) is pleased to announce the grant of 300,000 stock options to directors and officers at an exercise price of $0,125 per share for a period of 5 years, which are immediately vested. This grant of options is made according to the established annual compensation of the directors. The Corporation has granted 50,000 stock options to each of the following individuals: Mr. Guy Bourassa (President, Chief Executive Officer, Secretary and director), Mr. Michel Baril (Chairman of the Board of Directors and director), Mr. René Lessard (director), Mr. Robert Ayotte (director), Mr. Jean-Marc Lacoste (director) and Mr. Steve Nadeau (Chief Financial Officer). These options were granted in accordance with the terms of the current stock option plan of the Corporation.
Monarques Resources Inc. (TSX VENTURE:MQR) is a mineral exploration company that is exploring for base metals, precious metals including the platinum group elements (PGE) and industrial minerals including rare earth elements (REE). Its 100% owned properties are located in the region of Nemaska, in the Lower James Bay Region of Quebec and cover about 125 km of the polymetallic formation of Lac des Montagnes. This greenstone belt is known for its multiple showings and drill ready targets in addition to the Nisk-1 deposit (nickel, copper and PGE). Monarques mineral assets consist of 1,313 map designated claims divided in 10 properties known as Admiral, Arques, Bourier, Caumont, Dumulon, Duval, Lemare, Nisk, Rosebay, and Valiquette. The properties are accessible year round by either the Route du Nord from Chibougamau (280 km) or the Route de la Baie James from Matagami (380 km) and are located near the Cree community of Nemaska and the Nemiscau airport. Nemaska Lithium Inc. (TSX VENTURE:NMX)(OTCQX:NMKEF), an advanced lithium exploration and development company owns about 47% of the share capital of Monarques.
The statements herein that are not historical facts are forward‐looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward‐looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.