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Monument Engages CHF in Investor
Relations and Updates $12 Million Financing
Vancouver, B.C. - Monument Mining Limited
(TSX-V: MMY and FSE: D7Q1) ("the Company", or
"Monument") announces its new affiliation with CHF Investor
Relations (Cavalcanti Hume Funfer
Inc., "CHF"), headquartered in Toronto, for investor relations
services. CHF is well known for its work in the resources sector and has
been under the same management for more than seventeen years.
The CEO and President
Robert Baldock commented, "Collaborating
with CHF will be invaluable to the Company as Monument develops into a
junior gold producer at the Selinsing Gold
Project. The Company intends to advance exploration at Buffalo Reef
Project and to increase our land position in Malaysia. We are confident
that CHF will introduce our story to a broader Canadian audience in the
financial and investment communities."
Subject to acceptance by the TSX Venture
Exchange, under the terms of the agreement, CHF will provide investor
relations ("IR") and market-making services to Monument
effective immediately for a fixed term of twelve months. In the absence
of written termination notice by either party effective May 14, 2011, IR
services shall continue thereafter on an open-ended basis and may be
terminated by either party with a three-month advanced written notice.
Monument will compensate CHF C$7,500 monthly, as well as applicable
disbursements. As a part of this agreement 1,600,000 incentive stock
purchase options will be granted to CHF exercisable at $0.30 per share
for a period of three (3) years vesting 400,000 in six months from the
grant date and 300,000 every six month thereafter; of which 475,000 will
be subject to shareholders' approval at the next Monument Annual General
Meeting. Prior to the grant of stock options described above, CHF had no
interest, directly or indirectly, in the Company or its securities.
Monument intends to engage CHF's Market
Liquidity Program as soon as practical. Such activities will be
undertaken out of CHF's Calgary office through a registered broker in
compliance with the guidelines established by the TSX Venture Exchange
Policy 3.4 and other relevant policies.
Other Developments
The Company is diligently working towards
closing the $12 million financing transaction announced in December 21,
2009 on terms as originally released to the market. The process has
lasted much longer than anticipated due to lengthy due diligence. It is
anticipated the financing will be completed before the end of
June 2010. These funds will enable the Company to proceed with
doubling the capacity of the gold treatment plant, close its land
acquisition program and re-commence exploration on its prospective
exploration areas.
About CHF Investor
Relations
CHF's effective role is acting as the public company's outsourced,
low-cost equivalent to an internal investor relations department. CHF
serves an international portfolio of TSX and TSX Venture listed
companies, and others that may seek to list on North American Exchanges,
that operate in a broad range of industries including mining exploration
and producers, oil & gas, high-tech, industrial and business
solutions and products, and "green" companies. The depth of
capital market experience at CHF is formidable dating back to the late
1970's. CHF's head office is in Toronto with another Canadian office in
Calgary as well as branch offices in New York, USA; S�o Paulo, Brazil;
and Shanghai, China.
About Monument Mining
Limited
Monument Mining is a Canadian mineral explorater
and is a publicly traded company on the TSX Venture Exchange (TSX-V:
MMY). The Company has two wholly-owned principal properties: Selinsing Gold Mine Project ("Selinsing"); and Damar
Buffalo Reef Prospect ("Buffalo Reef"); which
are located in Pahang State in the Central Gold Belt District of Malaysia.
Monument Mining Limited's head office is in Vancouver, British Columbia,
Canada.
The Selinsing project
recently commissioned the Phase I gravity section of its gold
processing plant and has since commissioning, commenced in late 2009
produced more than 10,000 ounces of gold to May 31,
2010. Commissioning of the remaining Phase II CIL section of the
plant is expected by end of June or early July 2010, followed shortly
thereafter by an expected announcement of reaching commercial production. The
Company has the objective, once fully commissioned, to produce up to
40,000 ounces of gold per year, with intention to increase that by
expansion of the treatment plant in Phase III which will
more than double the plant capacity.
Forward-Looking
Statement: This news release contains forward-looking statements about
Monument Mining Limited ("Monument"), its business and future
plans. Forward-looking statements are statements that are not historical
facts and include the timing of the proposed programs and events.
The forward-looking statements in this news release are subject to
various risks, uncertainties and other factors that could cause actual
results or achievements to different materially from those expressed or
implied by the forward-looking statements. These risks and certain
other factors include, without limitation, uncertainty to the actual cost
of the gravity circuit and the estimated cash flows which may be
generated from the gravity c ircuit, the risk
that the Selinsing Project will not be
completed successfully or in a timely manner, general economic factors
and other factors that may be beyond the control of Monument.
Forward-looking statements are based upon the beliefs, opinions and
expectations of the management of Monument at the time they are made and Monument
does not assume any obligation to update its forward-looking statements
if those beliefs, opinions, expectations or circumstances should change.
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