Runtime error: The assembly mscorlib.dll was not found or could not be loaded

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<Warning>: The assembly mscorlib.dll was not found or could not be loaded.
<Warning>: It should have been installed in the `/Developer/MonoTouch/Source/monotouch/builds/install/target64/lib/mono/2.0/mscorlib.dll' directory.
<Warning>: Service exited with abnormal code: 1

This issue occurs when the hidden .monotouch-32 and .monotouch-64 folders are missing from the .xcarchive for signing / IPA creation, triggering the runtime error.

Xamarin Workbook

If it's not already installed, install the Xamarin Workbooks app first. The workbook file should download automatically, but if it doesn't, just click to start the workbook download manually.