1. Technical Data TSXV-MNN
TEJAMEN PROJECT
Technical Data
TSXV-MNN

2. Tejamen Overview
NI Inferred Resource of million troy ounces of Ag (15ppm cutoff).
NI Inferred Resource of 19.8 million 45 g/t Ag (15ppm cutoff).
NI Inferred Resource completed by Gustavson Associates (Feb. 2, 2016).
215 RC holes (36,139m) and 10 core holes were drilled between 2003 and 2008.
Indications of un-assessed Pb (and Zn) values, potentially equal to Ag value.
Significant Exploration Upside in High-Grade Feeder Veins (up to 6m at 1400ppm Ag, MMT-150, m depth).
Potential exists for Pitarilla-style mineralization under the volcanic rocks which host the mineralization. Tejamen is a large mineralized system!!
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3. Tejamen Site Conditions
100% ownership of Tejamen project mining concessions.
1685ha in 23 mining concessions.
Close to infrastructure and easy topography.
Surface land title granted to Tejamen Ejido in 2011.
New pro-mining government at local and state level.
Active support from governmental authorities to help establish community relationship.
Focus on access for confirmation and exploration drilling.
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4. Tejamen General Location
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5. Tejamen Location in State of Durango
Tejamen is located 10km SW of the town of Nuevo Ideal, via maintained level gravel road. Line power runs to Nuevo Ideal and Tejamen. Abundant groundwater.
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6. Los Mantos Topography
Changed Property to Topography
View looking easterly: showing gentle relief in the deposit area.
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7. Tejamen Mining Concessions
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8. Tejamen Drillhole Map Cerro Prieta Los Mantos
215 RC holes (36,139m) and 10 core holes were drilled between 2003 and Los Mantos zone and Cerro Prieto zone indicated.
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9. Los Mantos – Selected Drillhole Intercepts
From - To (m)
Intercept (m)
Ag ppm
DD-5
0-36 36
49.5
DD-6
8-24 16
19.7
MMT-093
0-12 12
66.5
MMT-097
14-152
138
105.5
*MMT-101
80-169 89
620.5
MMT-103
30-46
60.4
*MMT-104** 40
142.7
MMT-105
0-24 24
50.1
MMT-109
32-58 26
68.2
MMT-056 22
142
MMT-063
0-50 50
214
MMT-081
36-54 28
106
MMT-089
46-72
135
MMT-141
80-160 80
417
MMT-142 56
105
MMT-148 66
MMT-149
84-98 14
133 44
110
MMT-150
174
MMT-058
88-150 62
151
MMT-125
96-114 18
MMT-156 20
117
#204
92-116
134
#197
28-52
78.7
Highlights include:
Hole MMT-141 – ppm Ag
Hole MMT-101 – ppm Ag
Can you make the table wider and
*Hole bottomed in high grade mineralization
**Assays also reported 0.07ppm Au to 17.05m
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10. Cerro Prieto – Selected Drillhole Intercepts
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11. High Grade Feeder Vein Drillhole Intercepts
CERRO PRIETO FEEDER VEIN INDICATIONS
Drill hole No.
Intercept intervals
Meters
Ag ppm
TJBD -1
6.45
132
TJBD - 2
34 – 35.30
1.30
1,065
TJBD - 3
1.40
238
TJBD - 4
2.00
142
LOS MANTOS FEEDER VEIN INDICATIONS
Drill hole No.
Intercepts intervals
Meters
Ag ppm
TJBD - 6
6.00
1,400
MMT - 149
2.00
448
MMT -150
134 – 136
1,355
MMT -142
160 – 162
806
MMT - 156
773
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12. Cross Section Through Cerro Prieto
Drill holes through Gustavson block model.
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13. Cross Section Through Los Mantos
Drillholes through Gustavson block model.
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14. Tejamen Inferred Resources
Deposit
Cutoff ppm Ag
TONNES
Ag ppm
Ag Contained Oz.
Mantos 20
9,192,000 56
16,540,000 15
11,093,000
49.4
17,610,000 10
12,879,000
44.3
18,330,000
Cerro Prieto
6,790,000
45.7
9,970,000
7,760,000
42.2
10,520,000
8,590,000
39.3
10,860,000
Total
16,663,000
50.2
26,923,000
Both Deposits
19,838,000 45
28,706,000
22,847,000
40.7
29,928,000
Inferred Resources: from Gustavson Associates (Feb. 2, 2016)
* No credit for potentially significant Pb values
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15. Tejamen Preliminary Metallurgical Testing
LAB
TEST TYPE (CYANIDE)
NO. OF SAMPLES
CRUSH SIZE
AVE. Ag RECOVERY
Mc Clelland Inc.
Bottle Roll 6
80% mesh
54.80%
Column Leach 2
RC chips (nominal 3/8”)
67.50%
Wardrop Engineering 3
N/A (assumed chips)
68%
Mexican Geological Service 4
100% -10 mesh
67%
The testing was done with a primary focus on cyanide leaching with milling of higher grade mineralization and heap leaching of lower grade mineralization. Additional metallurgical testing needs to be done, on lower grade mineralization using cyanide and regarding flotation to evaluate the possibility of recovery of Pb (along with Ag).
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16. Tejamen Satellite Image
Mineralized Zone Representative Outline
Showing gentle topography in area and proximity to Tejamen.
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17. Tejamen Initial Work Program
The primary focus of new work at Tejamen should consist of follow up core drilling. A program to drill 4,800m in 12 core holes is proposed.
Core holes can be drilled to confirm previous RC drilling and better define geological parameters and block model grades.
Holes can be extended to explore the potential of high grade feeder veins and the significant potential for mantos at depth, below the volcanic host rocks.
Re-logging and re-assaying of historical samples needs to be done and the geological model refined.
Additional metallurgical testing needs to be done, to better understand cyanide recoverability and the potential for flotation for higher grade Ag mineralization associated with potentially recoverable Pb.
The cost of follow-up work is estimated to be approximately US$1,500,000. The drilling would be staged in two phases over 1-2 years.
With positive results, a PEA would be proposed regarding the shallower mineralization and additional drilling might be proposed to follow up positive results of deeper drilling of the anticipated high grade feeder veins.
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18. Community Relations
The Company has not had access to Tejamen since 2008.
The Company discovered in 2009 that the Tejamen Ejido did not have title to the land.
The Company initiated work programs in 2009 to help the community.
Subsequently title was granted to the Ejido in 2011.
Newly elected political leaders have expressed the desire to help the company improve relations with the community.
The Company is working diligently with the Community and all levels of Government to gain access to Tejamen.
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19. Support from Mexican Government
Full support from the three levels of the Mexican government: Federal, State and Municipal.
On June 2016, Board members and Officers from Monarca Minerals met with Mario Cantu, General Coordinator of Mining and Juan Jose Camacho, General Director, Mining Development, both of them from the Ministry of Economy at the Federal level, with great results.
July 2017, Board members and Officers met with Javier Castrellon, recently appointed as Minister of Infrastructure of Durango, and Mr. Agustin Rivas, Advisor of the Governor Mr. Jose Rosas Aispuro.
September 2016, By invitation of the Elected Governor of Durango, Mr. Jose Rosas Aispuro, Board members and officers attended the ceremony of “Toma Posesión” equivalent to Oath of Office.
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20. Support from Mexican Government
The State of Durango recently elected a new Governor. First time in over 80 years the winning party is not PRI.
New Governor from PAN (Partido Accion Nacional) won the election on June 5th 2016.
Mr. Gerardo Galaviz, new Mayor of the municipality of Nuevo Ideal, where Tejamen project is located also from PAN elected on June 2016.
State and municipality governments are pro mining, and we have been working with them since they got elected.
We have full support and commitment from the new state and municipal governments.
We built the foundation with the Mexican government; next step is to develop a close relationship with the community.
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21. Next Steps
Continuing to work with the newly elected local and state level governmental authorities to regain access to Tejamen is the priority.
The resource drilling will be extended to test the bottom of the volcanic rocks for manto-style mineralization, as well as high grade feeder veins.
Confirmation assaying needs to be done on sample rejects from historical drilling, to increase the resource confidence level.
Re-logging of historical drilling to achieve a refined geological interpretation of the deposit for resource upgrade and to help target high grade feeder veins and mantos.
Testing should be done on higher grade mineralization from drill samples, to evaluate the potential of Ag and Pb recovery by flotation. The potentially recoverable Pb has never been assessed and might add considerable value to Tejamen.
Surface topographic mapping needs to be done to refine the extant resource.
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