MONARCA MINERALS REPORTS COMPLETION OF PHASE 1 EXPLORATION DRILLING AT SAN JOSE PROJECT AND PRELIMINARY RESULTS INCLUDING 4.07 G/T AU OVER 3.0M

TORONTO, Ontario, November 9, 2021 — Monarca Minerals, Inc. (“Monarca” or the “Company”) (TSX-V:MMN)
is pleased to announce that it has completed its Phase 1 San Jose exploration RC drilling program with 4,640.6m
completed in 15 drill holes. Assay results from 7 of these drill holes are shown below in Table 1 and indicate
significant Au, Ag, Cu, Pb and Zn mineralization, with the remaining assay results still pending from the
laboratory.

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