Monarch strong underway!!MEDIA RELEASE 15 April 2008HIGH GRADE...

Monarch strong underway!!

MEDIA RELEASE 15 April 2008

HIGH GRADE EXPANSION AT MOUNT IDA

Monarch Gold Mining Company (ASX /DIFX:MON) is pleased to provide the following update on its
Mt Ida underground gold mining project north of Kalgoorlie.
Production ramp up at the high grade Mount Ida operation is mostly complete, and the mine is
expected to deliver 4,000 tonnes of ore in April at a delivered grade of 14g/t Au.
Monarch Chairman Michael Kiernan said Mt Ida was now ramping up on schedule and poised to hit
its straps.
“Planned production at Mount Ida is expected to reach a steady state of 4,000 ounces per month by
July, at an average grade of 19.42 g/t and will be a key contributor to Monarch’s 60,000 ounce target
by the first half of FY 2008/09,” Mr Kiernan said.
Monarch is developing 12 headings on ore which will allow for the expansion of stoping operations
and increase in mine output in coming months. Stoping is expected to commence this month as the
Company has received approval from the Department of Consumer and Employment Protection for
its Mt Ida Project Management Plan, which was required prior to the commencement of stoping.
Refurbishment of the Timoni Shaft to access and develop Level 8 is also well advanced, with
Monarch purchasing two new underground loco’s for the development.
The mining camp has been expanded to meet the growing workforce, with ensuited accommodation
for more than 60 staff, and upgraded facilities including new kitchen, mess and mine site ablution
block.
Monarch has also commenced mining operations on a fly-in / fly-out basis, with charter flights directly
to site which significantly minimises crew change over time, resulting in costs savings and improved
productivity.
The Mt Ida Project includes 111,000 ounces of resources within four areas - the Baldock, Whinnen,
Meteor and Timoni deposits.
Monarch has recently undertaken an initial small drilling program to the south of the Baldock lode,
down plunge, which has confirmed the continuation of the high grade mineralised system for at least
a further 100 metres. Intercepts include 3.67m @ 14.9 g/t Au in hole IDD002 and 1.07m @ 14.80 g/t
Au in hole IDD001.
The Company also believes there is potential for further significant discoveries within the Timoni
mining centre, which contains at least four sub parallel lode systems, including the historical Timoni
mine. The mine produced 265,000 ounces at 16.3 g/t Au and past drilling within the mining centre is
quite limited.
For further information, please contact:
Michael Kiernan Warrick Hazeldine
Chairman - Monarch Gold Purple Communications
Tel: +61 8 9481 6422 Tel: +61 (0)8 9485 1254
Mob: +61 (0)417 944 616