MONARCA MINERALS ANNOUNCE THE CLOSING OF THE SALE OF EL SOL PROJECT AGREEMENT TO SOUTHERN SILVER EXPLORATION CORP. AND APPOINTMENT OF MS. MONICA OSPINA AS BOARD MEMBER

TORONTO, Ontario, August 10, 2020 –Monarca Minerals, Inc. (“Monarca” or the “Company”) (TSX-V:MMN), is pleased to announce the closing of the definitive agreement with Southern Silver Exploration Corp. to sell El Sol project in Durango, Mexico.

El Sol concession is a single 63ha claim located on the northwestern boundary of Southern Silver’s projects the Bocona block of claims and is adjacent to the Area of the Cerro which hosts the four mineral deposits currently identified within the Cerro Las Minitas claim package.