ORA BANDA MINING LTD — Board/Management Information 2008

Jan 24, 2008

MONARCH GOLD MINING COMPANY LIMITED

23 Ventnor Ave, West Perth Western Australia 6005 Telephone: +61 8 9481 6422 Facsimile: +61 8 9481 6433

25 January 2008

Manager Announcements Company Announcements Office ASX Limited Level 4 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Retirement of Director

Attached is a Media Release in regard to the above.

Yours sincerely

Patrick McCole Company Secretary

MEDIA RELEASE

25 January 2007

RETIREMENT OF DIRECTOR

Monarch Gold Mining Company Limited (ASX:MON) advises that Allan Quadrio has stepped down as a Director of the Company effective today.

Mr Quadrio has been a Director of Monarch since 20 July 2007 and was the Managing Director from 20 July 2007 to 16 November 2007. Mr Quadrio has stepped down due to his increasing workload and other commitments as the Managing Director of Territory Resources Limited.

Monarch Chairman Michael Kiernan acknowledged the contribution of Mr Quadrio as a Director of the Company.

"We would like to thank Allan for his service as he has played an important role as a Managing Director of Monarch Gold. The Company is most grateful for his efforts," Mr Kiernan said.

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For further information, please contact:

Michael Kiernan Chairman - Monarch Gold Tel: +61 (0)8 9481 6422

Warrick Hazeldine Purple Communications Tel: +61 (0)8 9485 1254 Mob: 0417 944 616