Monarca Minerals Inc. reported that Mr. Carlos Espinosa has resigned as CEO of the Company effective March 4, 2022. Mr. Espinosa will remain a Director of the Company. The Board of Directors has appointed Mr. Paul Ténière as Interim CEO of Monarca and he will also remain a Director.

Mr. Ténière has been a Director of Monarca since April 2019. Mr. Ténière is a Professional Geologist (P.Geo.) with over 20 years of diverse experience in the mining and oil & gas sectors in Canada, United States, and internationally, taking projects from exploration stage to mine development. Mr. Ténière has held senior to executive roles with junior to major mining companies developing precious metal, base metal, and metallurgical coal deposits, and has significant capital markets and corporate finance experience.

He was a mining expert and Senior Listings Manager at the TSX and TSX Venture Exchange, Chief Geologist for Sherritt International Corp., and an Exploration Manager for Vale S.A. and Solid Energy New Zealand developing large-scale coal mining projects in Australia and New Zealand.