Developing Silver and Gold Resources in Mexico

Developing Silver and Gold Resources in Mexico November 24, 2017 1

Forward Looking Statement This presentation is prepared by Monarca Minerals Inc. (MMN TSX.V) Management of Monarca are solely responsible for content and format. Management has compiled this presentation from industry information and 43-101 reports and news releases with specific underlying Qualified Persons as set out in the Releases and reports. Industry Information has been compiled from publically available sources and may not be complete, up to date or reliable. This presentation contains forward-looking statements within the meaning of Canadian and U.S. securities laws. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, the Company s ability to raise capital to fund development and exploration, changes in general economic conditions or financial markets, changes in metal prices, general cost increases, litigation, legislative, environment and other judicial, regulatory, political, competitive developments in Mexico, technological and operational difficulties or inability to obtain permits encountered in connection with The Company s exploration activities, community and labour relations matters and changes in foreign exchange rates, all of which are described in more detail in the Company s filings with the Canadian Securities Regulators. This presentation is for information purposes only and is not a solicitation. Please contact the Company for complete information and consult a registered investment representative / advisor prior to making any investment decision. Investors are urged to consider closely the disclosure in Monarca s annual and quarterly reports and other public filings, accessible through the Internet at www.sedar.com Although the Company believes its properties have promising potential, its properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, any mineralization may be economically extracted. November 29, 2017 TSX.V-MMN 2

Company Overview Focus on the exploration and development of silver and gold projects along the highly productive mineralized belt that made Mexico the largest silver-producing country in the world Tejamen project has a NI 43-101 inferred resource of 28.7 million troy ounces of Ag (15ppm cutoff), contained in 19.8 million tonnes @ 45 g/t Ag San Lucas provides significant exploration potential for Ag, Au and base metals, with drillhole results up to 527ppm Ag El Sol provides significant exploration potential for Ag, Au and base metals, with surface mine dump assays up to 358ppm Ag, 1.95ppm Au, 19.6% Zn and 22.6% Pb San Lucas Au/Ag Vein San Jose Recently signed a LOI, this 5,580-hectare property in Chihuahua has excellent indications of multi-element mineralization associated with skarn, gossan and altered intrusive rocks All projects are in mining and capital-friendly jurisdiction of Durango and Chihuahua Experienced board and management team November 29, 2017 TSX.V-MMN 3

Board of Directors & Management FRANK HOGEL, CHAIRMAN & DIRECTOR: Mr. Hogel currently serves as Chief Executive Officer of Peter Beck Performance Funds and sits on the advisory board of Concept Capital Management Ltd. He has an MBA degree from the Universityof Nurtingen, Germany. ALLAN FOLK, INTERIM CEO & DIRECTOR: Mr. Folk has spent 30 years in the Investment Industry. During that period he has helped finance numerous junior mining companies. He is Chairman of Atlanta Gold Inc., Director of Bonterra Resources Inc. and Vice President of Brant Securities. He received a BBA from the University of Wisconsin in 1972. CARLOS ESPINOSA PRESIDENT & DIRECTOR Carlos Espinosa, has 25 years of experience with international business development, Canadian capital markets and commercial banking. He is former Head of Business Development, Global Mining at the TSX and TSXV and former Deputy Trade Commissioner of Mexico, in Toronto. He holds an MBA from Kellogg School of Management at Northwestern University and a BBA from Mexico and is fluent in Spanish. JAMES McVICAR DIRECTOR Mr. McVicar is a senior partner of Peterson McVicar LLP in Toronto with 20 years of experience focused in corporate finance and mining law. He previously spent close to three years as legal counsel in the Corporate Finance Branch of the Ontario Securities Commission (OSC) and later in his career was appointed to the OSC's Securities Advisory Committee for a 2 year term. BRUCE REILLY CFO Mr. Reilly is a graduate of the University of Toronto with a Bachelor of Commerce degree, and is a Chartered Accountant (1985). For the past twenty plus years, Bruce Reilly has successfully developed and managed a chartered professional accounting firm. Mr. Reilly also sits on the Board of Platinex Inc. (CSE "PTX") and isign Media Solutions Inc. (TSX-V ISD ). MICHAEL R. SMITH EXECUTIVE VP EXPLORATION & QUALIFIED PERSON Mr. Smith has 38 years of experience in the mining, working for Barrick Gold, Continental Gold, Oremex Silver and continues to provide Qualified Person services. He is an SME Registered Member, ID 4167376RM. He graduated from Arizona State University November in29, 1979 2017(BS) and the Mackay School of Mines in 1981 TSX.V-MMN (MS) in Geology. Mike lives in Mexico and is fluent in Spanish. 4

Stock Information TSX-V SYMBOL - MNN Basic Shares Issued................................ 49.6 Million Stock Options Outstanding......................... 2.1 Million 2.1Million @ $0.14 Warrants Outstanding............................. 24.2 Million 5.4 Million - Exercisable @ $0.50 expiry Oct 2017 (Debenture/Equity) 13.2 Million - Exercisable @ $0.18 expiry May 2020 0.7 Million - Exercisable @ $0.13 expiry May 2020 3.4 Million - Exercisable @ $0.18 expiry July 2020 0.1 Million - Exercisable @ $0.13 expiry July 2020 1.4 Million - Exercisable @ $0.15 expiry June 2021 Fully Diluted Shares................................ 75.9 Million Basic Market Cap @ $0.10............................ $4.96 Million Cash in the bank at August 31, 2017..................... $1.28 Million Major Shareholders Eric Sprott Concept Capital Management November 29, 2017 TSX.V-MMN 5

Project Portfolio in Durango Tejamen MONARCA OREMEX MINERALS SILVER INC. INC. San Lucas Project locations TEJAMEN (Durango State) Flagship property with a NI 43-101 inferred resource of 28.7 million troy ounces of Ag (15ppm cutoff), contained in 19.8 million tonnes @ 45ppm Ag Excellent potential to expand resource and for high grade veins and mantos El Sol SAN LUCAS (Durango State) Excellent exploration potential for veins and mantos EL SOL (Durango State) Excellent potential to extend Southern Silver s Blind/El Sol zone onto concession with geophysical anomaly (IP) continuation November 29, 2017 6

Project Locations: Durango State Monarca s projects are located in an area of Mexico renowned for major Ag, Au and base metal deposits. The area has a long mining history dating back to early colonial times. The area has significant infrastructure and transportation systems with local mining expertise. November 29, 2017 TSX.V-MMN 7

Tejamen: 43-101 Resource Key silver valuation component and flagship project Monarca owns 100% mineral rights and surface access in progress NI 43-101 Inferred Resource of 28.7 million troy ounces of Ag (15ppm cutoff), by Gustavson Associates NI 43-101 Inferred Resource of 19.8 million tonnes @ 45ppm Ag 215 RC holes (36,139m) and 10 core holes drilled between 2003 and 2008 Los Mantos remains open to the south, east and at depth in high grade veins Significant exploration upside in feeder veins beneath both Los Mantos and Cerro Prieto deposits, grades of to 6m of 1,400ppm Ag, with about 5% Pb & Zn November 29, 2017 TSX.V-MMN 8

Tejamen: Deposits & Drilling Cerro Prieto Upper Cerro Prieto Cerro Prieto Lower Completed 36,139m of drilling Defined 2 primary Ag deposits: Los Mantos and Cerro Prieto Los Mantos Los Mantos Los Mantos drill result highlights : Hole MMT-141: 80m at 417 g/t Ag Hole MMT-101: 89m at 621 g/t Ag November 29, 2017 TSX.V-MMN 9

Tejamen: Satellite Image Cerro Prieto Area Located close to Tejamen town with 700 people Nearby town of Nuevo Ideal provides basic services Mineralized Zone Representative Outline Power and water available Year-around access with low topographic relief Moderate climate conditions Los Mantos Area 1.5 hours by highway north of Durango, Mexico November 29, 2017 TSX.V-MMN 10

Tejamen: Recent work We are currently re-analyzing geological information and the re-logging historical drill results. Drilling completed in 2005 and 2008 only reached relatively shallow depths of approximately 150 meters. To date Monarca has identified 3 extremely high grade intercepts at both Los Mantos and Cerro Prieto portions of Tejamen. Drill hole MMT-141, Los Mantos, reported an 80-meter zone containing 417 grams of silver including 4,028 grams per silver from 82 to 88 meters from surface. This is one of three high grade veins identified in Los Mantos. Cerro Prieto is a thick zone of parallel veins and disseminated silver mineralization at approximately 80 meters. Cerro Prieto drilling reached a maximum depth of 150 meters. It is worthwhile to note that the core was not assayed for any other metals. November 29, 2017 TSX.V-MMN 11

Tejamen: Exploration Potential LOS MANTOS FEEDER VEIN INDICATIONS TJBD - 6 166-172m 6.00 1,400 Ag (ppm) MMT - 149 168-170m 2.00 448 Ag MMT -150 134 136m 2.00 1,355 Ag MMT -142 160 162m 2.00 806 Ag MMT - 156 110 112m 2.00 773 Ag November 29, 2017 TSX.V-MMN 12

Support from the Mexican Government Carlos Espinosa, Director, has been developing and implementing a plan to secure the surface rights at Tejamen, Monarca s flagship property. Over the last 12 months Carlos has met with senior officials at the Federal, State and Municipal level. Jose Rosas Aispuro, Governor of the State of Durango is pro-mining, and he appointed two highly experienced mining engineers to his cabinet; Ramon Davila, Minister of Economic Development and Jose Luis Aguilar, Deputy Minister of Mining; both of them worked most of their career on Canadian and Mexican mining companies,. Mayor of Nuevo Ideal (Tejamen belongs to the municipality of Nuevo Ideal) have been fully supportive on this new approach to Tejamen community. Current state governor will be at the office until 2022 enabling Monarca to concentrate on community relationships and development of Tejamen, San Lucas and El Sol November 29, 2017 TSX.V-MMN 13

Community Relations at Tejamen Monarca has built the foundation with the Mexican government and are developing a close relationship with the community Carlos have been meeting with the leaders of the local community of Tejamen. In those meetings Carlos listened to the Community s concerns, introduced the new Monarca management team, reviewed the benefits to the Community and outlined Monarca s plans once the surface rights have been secured. Monarca is dedicated to being a responsible Community partner Carlos will continue traveling to Mexico to keep building the relationship and trust with Tejamen community November 29, 2017 TSX.V-MMN 14

San Lucas Overview Two parallel vein structures have been identified in the 3km long mineralized Main Shear zone. 79 historical RC holes have been drilled, ranging from about 32m to 259m and averaging 158 m in depth. Drilling results include up to 2m at 527ppm Ag, with Zn and Pb over 1% (MMSL-46; 154m-156m depth). And up to 22.9m at 0.78ppm Au and 12.7ppm Ag (SL11-11 500 165-240 ft depth). Exploration upside in the El Doctor vein area (Noche Buena) in outcrop channel sampling (up to 1.4m at 110ppm Au and 168ppm Ag). November 29, 2017 TSX.V-MMN 15

San Lucas Overview Luismin obtained some very high grade underground sampling results, with up to 256ppm Au and 391ppm Ag, over 0.55m. Potential exists for the principal veins below previous drilling depths, where the base of the volcanic host rocks encounter schist, phyllite and limestone. The sub-volcanic rocks remain untested on the Main Shear areas, where there is significant potential for large manto deposits. A 2005 43-101 compliant Technical Report (Richards) states that a centre of mineralization exists in the northern portion of the Main Shear and that this is an expression of manto style mineralization at depth, in underlying carbonate rocks. An exploration program for 2018 is proposed with estimated cost is US$850,000. Consolidate San Lucas land package TSX.V-MMN November 29, 2017 16

San Lucas Drillhole Map Drilling results include up to 2m at 527ppm Ag, with Zn and Pb over 1% Seventy-nine RC holes have been drilled at San Lucas Generally to depths of less that 200m Manto potential below 200m in untested vein areas Luismin obtained some very high grade underground sampling results, with up to 256ppm Au and 391ppm Ag, over 0.55m. November 29, 2017 TSX.V-MMN 17

El Sol Overview Surface sampling at El Sol (old mine dumps) of up to 358ppm Ag, 1.945ppm Au, 19.6% Zn and 22.6% Pb. One hole has been drilled (Southern Silver Exploration [SSV], 13CLM-072) and returned 0.3m (102.5 102.8m depth) at 87ppm Ag, 1.88% Pb, 1.01% Zn and 0.11% Cu. A strong chargeability anomaly runs along the eastern side of the El Sol concession, possibly indicating the presence of sulfide mineralization and northward extension of SSV s Blind/El Sol Zone. A strong aeromagnetic anomaly is located at the northwestern portion of the El Sol concession, possibly indicating the presence of a mineralizing intrusive. An exploration program for 2018 is proposed, consisting of 4-6 holes (total 1500m) to cost US$300,000. Possible Joint Venture opportunity November 29, 2017 TSX.V-MMN 18

San Jose Overview November 29, 2017 TSX.V-MMN 19

Deposit Type and Locality Deposit Type: Intrusives (porphyry Cu related?) and skarn, with significant precious and base metal grades Mineralization: In the mineralizing intrusive and skarn, with Cu (to 10.5%), Pb (to 6.5%), Zn (to 1.4%), Au (to 27ppm) and Ag (to 219ppm) Location: San Jose property is comprised of 5,850 hectares, in the vicinity of the border with USA, approximately 125 kilometers of El Paso, Texas Accessibility: Road access and local infrastructure is good; 15 km to the E is the agricultural settlement of Guadalupe Victoria Terrain: Rolling hill country dominantly, not steep mountainous area Historical Mining: Numerous small shafts and pits with production dating from 1915, Au reported to be 1-5ppm, Ag 50-1000ppm and 5-8% Pb

Mining Concession Map Magnetic Anomaly (porphyry Cu) Primary Exploration Area North Concession Limit 1 km

Geology and Mineralization Mineralizing Tertiary intrusives emplaced into Paleozoic to Mesozoic limestones Intrusives manifest as several types and phases, ranging from equigranular granodiorite to rhyolite porphyry Intrusives occur with various types and degrees of alteration including propyllitic, slilicification, endoskarn, disseminated pyrite to 2% and specularite/magnetite ExoSkarn mineralization is grossularite ± diopside, locally with hydrous retrograde silica + clay and overprinting quartz veins and silicification Au mineralization, principally in late quartz veins, overprint the skarn and is associated with late silicification in the exoskarn and mineralizing intrusives Potential exists in the north portion of the concession for a porphyry Cu/Au deposit, associated with the magnetic anomaly and skarn Overprinting late Au veins have potential for production Tungsten occurrences have been reported in the area of skarns

Why Monarca Minerals? Strong Board to deal with securing the surface rights to Monarca s flagship property, Tejamen. Michael R. Smith, Executive VP and QP, 23 years of experience in Latin America, fluent in Spanish, brings broad expertise in mining project discovery and development $1.3Mil in cash with a low monthly burn rate of $50,000 Recently elected local officials are in favour of developing mining projects February 2016 updated 43-101 Resource of 28.7 million silver ounces with excellent resource expansion potential and exploration upside Improving Precious Metal prices Low Market Capitalization of $6.5Mil versus metal value at $20 silver of US$575Million Recently signed LOI to add San Jose project to our current portfolio On going discussions to add properties or joint venture opportunities

Carlos Espinosa, President cespinosa@slgmexico.com Allan Folk, Interim CEO Afolk.bb@gmail.com www.monarcaminerals.com 24