REVISED MEDIA RELEASE

Sunday 5 August 2007

Please note the amended details below regarding Monarch Gold’s contribution to commAccom

Monarch Gold commits funds to Kalgoorlie community housing project

Monarch Gold Mining Company (ASX/DIFX:MON), an independent Western Australian gold producer, has contributed $250 000, plus an ongoing $100 000 per annum each financial year to a new community housing project in Kalgoorlie.

Mr John Bowler MLA, Member for Murchison Eyre, commemorated the contribution at a ceremony today to mark the naming and dedication of Monarch Gold House, and officially open the commAccom housing.

“Monarch Gold’s generous support demonstrates good corporate social responsibility at its best and provides a positive example for others within the mining industry,” Mr Bowler said.

The commAccom project was developed in response to the need for low cost accommodation to house people carrying out community work in the Goldfields.

Monarch Gold Chairman Michael Kiernan said it is important for the mining industry to support the communities in which they operate.

“Kalgoorlie is the mining backbone of Western Australia and while the boom is creating great opportunities, it is also putting stress on the infrastructure and accommodation,” he said.

“I see it as the mining industry’s responsibility to give back to the community in a tangible way and ensure we have a positive impact where possible.”

The commAccom project provides housing at a nominal rental, covering only minor maintenance items.

The project is managed by local charity group, LMS Ministries, headed up by Graham Thomson.

According to Mr Thomson, the largest single barrier to attracting community workers to the Goldfields is the cost of housing.

“We have developed a number of unused and derelict properties throughout Kalgoorlie-Boulder in order to provide accommodation for chaplains, mentors and people involved in similar community services, and to meet emergency needs of underprivileged families,” Mr Thomson explained.

“Monarch Gold’s contribution will go a long way to help provide a sustainable long term solution to accommodation for our community workers,” he said.

The commAccom project aims to have 15 properties within the city, fully restored and serviced, and housing the team of chaplains, mentors, councellors and community workers required to meet the needs of the Goldfields region.

- ENDS -

For further information, please contact:

Michael Kiernan                                                                      Warrick Hazeldine

Executive Chairman - Monarch Gold                                       Purple Communications

Tel: 08 9481 6422                                                                      Tel: +61 (0)8 9485 1254

Mob: 0417 944 616       

Background

The Company has a resource base of more than 2.4 million ounces, two state-of-the-art gold treatment plants, and has dominant ground positions in the prolific gold mining region to the north-west of Kalgoorlie.

Monarch now has the largest Australian-controlled ground position in the Kalgoorlie region.

The company has laid the foundations for its growth as a mid-tier Australian gold production company. Key assets include the Davyhurst Gold project, the Minjar Gold project, the ground package surrounding the historic Bellevue Gold Mine near Leinster, together with the Siberia Mining Corporation Limited merger, which provided access to Siberia 1.2 million ounce resource base.

Monarch remains firmly on track with its production targets, with mining commenced at the Davyhurst project and mining of the first ore at Monarch’s Mt Ida project expected in late July. Refurbishment of the Davyhurst Mill is on schedule, with supporting infrastructure already in place.

Monarch has commenced production at Davyhurst with a head grade of 5.3g/t Au and the first gold to be poured in late July.

Growth Strategy

Monarch’s growth strategy is focused on four potential production centres in Western Australia:

Davyhurst - gold resources of over 2m oz within a 2,000 sq km tenement package and 1.2mtpa gold processing facility (+1.2Moz historic production).

Mt Ida - resources are stated as 143,000t at 24.0 g/t containing 110,650 ounces of gold within three areas - the Baldock, Whinnen and Meteor deposits, adjacent to the historic Timoni underground gold mine which produced 265,000oz of gold. Monarch will commence mining gold in July 2007.

Minjar - gold resources of over 400,000oz within a 1,722 sq km tenement package and 600,000tpa gold processing facility (+120,000oz historic production).

Bellevue - gold resources of 120,000oz associated with the historic Bellevue Gold Mine, one of WA’ premier gold operations (750,000oz historic production).

Monarch’s strategy has been to capture opportunities for the consolidation of gold development assets which have not in the past realised their full potential, either due to a lack of capital or to limited exploration.

Monarch is focussed on gold production, with a target to be producing 500,000oz per annum by December 2009.

For further information visit: www.monarchgold.com.au

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