Dear 24h,
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February 13 2009
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February
13 2009
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NEWS RELEASE
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Release # 3 - 2009
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Monument Grants Stock
Purchase Options to its Key Staff and Consultants
Vancouver,
B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1)
("Monument" or the "Company") announces that it has
granted a total of 550,000 stock purchase options to its newly appointed
key staff and consultants as it ramps up its 100% owned Selinsing Gold Project in Malaysia.
The new stock purchase options were issued under
the 2009 Stock Option Plan. It allows the Company to grant stock purchase
options to its directors, officers, employees and consultants. The
maximum number of shares eligible to be reserved for issuance under the
2009 Plan is 22,126,000. The number of shares issuable within a 12 month
period under the 2009 Plan shall not exceed 6% of issued and outstanding
shares to any one Optionee. The exercise price
of each option is set by the Board of Directors at the time of grant but
cannot be less than the market price. The Company's Board of Directors
has discretion as to the number, vesting period and expiry dates of stock
options granted.
The
550,000 newly granted stock purchase options have a life of five years
from the grant date, exercisable at a price of $0.25. The options have a
4 month hold and will vest over a 2-year period, one year and two years
respectively after the issue date. As a result of the new grants and
prior grants, a total of 21,676,000 stock purchase options have been
granted and 450,000 common shares are reserved for grant under the 2009
Plan.
Monument
Mining Limited is an emerging Gold Producer exploring in the Malaysian
Gold Belt in Pahang State, Malaysia. The Company is fast tracking gold
production at its 100% owned Selinsing Gold
Mine Project targeting production in Q3-2009 and is unhedged. Monument
is strategically exploring gold resources at 100% owned Damar Buffalo Reef Prospect and expanding it land
holdings.
Robert
F. Baldock, President and CEO
Monument
Mining Limited
Park
Place, Suite 710, 666 Burrard Street
Vancouver B.C. Canada V6C 3P6
For
further information contact:
North
America:
Europe:
Richard Cushing,
Investor
Relations Wolfgang
Seybold,President,Axino.AG
Office: 604.638.1661
Office:
+49.711.25.35.92.40
Cell:
604.889.6563 Fax:
+49.711.25.35.92.55
E-mail: info@monumentmining.com E-mail:
wolfgang.seybold@axino.de
Website: www.monumentmining.com Website: http://www.axino.de/
The TSX Venture
Exchange has in no way passed upon the merits of the proposed transaction
and has neither approved nor disapproved the contents of this news
release.
Not for distribution to U.S. news wire services or dissemination
in the United States. The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of the information contained
herein. Certain disclosures in this release, including management's
assessment of the Company's plans and projects, constitute
forward-looking statements that are subject to numerous risks,
uncertainties and other factors relating to the Company's operation
as a mineral exploration company that may cause future results to differ
materially from those expressed or implied in such.
Forward-Looking
Statement
This
press release contains forward-looking statements about Monument Mining
Limited ("Monument"), its business and future plans, including
the contemplated phase I and phase II development plans resulting in the
commencement of mining and gold production, and in respect of the dates
and amounts projected for these two phases resulting in the plant
construction, gold production, gold sales and costs of the Selinsing Project. 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 press 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 circuit, 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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