reason for trading halt .., page-22

Exploration

GoldMonarch commenced a 3,000m exploration RC drilling programme during May 2008, following a review of available data. The program will focus on the Hill 50 and Saturn Bars, which have been poorly tested in the Brown Hill and West Saturn areas.Boogardie Break structures, known to host and control gold mineralisation in the Mt Magnet district, are seen to cross-cut the prospective Banded Iron Formation (BIF) horizons. The potential of these areas has been developed from interpretation of re-processed magnetic data.

""""Results are expected in the next few weeks."""

Iron OreThe Mt Magnet area contains significant occurrences of BIF which have not been assessed for theirpotential to host economic concentrations of Iron Ore.Utilising geophysical data, geological mapping and ground assessment, the potential exists forsignificant tonnages of iron ore formation (200 million tonnes). Monarch is currently carrying out a channel rock chip survey across the BIFs to determine an indicative Fe content prior to considering a drilling assessment. For further information, please contact:Ian HuitsonWarrick HazeldineManaging Director - Monarch GoldPurple Communications Tel: 08 9481 6422 Tel: +61 (0)8 9485 1254Mob: 0417 944 616
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