Monarca Minerals Inc. reported that Mr. Paul Ténière has resigned as Director and Interim President. The Board of Directors has appointed Mr. Carlos Espinosa as Interim President and he will remain as Director. Mr. Espinosa was CEO of Monarca between June 2018 to March 2022, and he was President from August 2017 to March 2022 and a Director of the Company since 2016.

He has been instrumental in the Company's government and community initiatives in respect of its San Jose project in Chihuahua, and Tejamen Project in Durango, Mexico.