The Croinor Gold property is a fully permitted past producing property located approximately 55 kilometers east of Val-d’Or, Québec along the eastern part of the Abitibi Greenstone Belt. The Abitibi Greenstone Belt is one of the most extensive continuous expanses of low metamorphic grade Archean volcanic and sedimentary rocks in the world. Croinor is wholly owned and operated by Monarch Mining Corporation (“Monarch”) after its spinout from Monarch Gold Corporation in January 2021.
In August 2022, Monarch published an updated Resource Estimate for Croinor detailing measured and indicated mineral resources of 903,600 tonnes at 6.47 g/t Au for a total of 187,900 gold ounces and inferred mineral resource of 200,100 tonnes at 6.19 g/t Au for a total of 39,800 gold ounces. The updated estimate increased measured and indicated resources by 39% and inferred by 10%, which are fully encompassed within the Gold Royalty 2.75% NSR.