Monument Mining Limited

Published : September 15th, 2011

Grows Gold Project Pipeline

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Dear 24H,

September 14th 2011

Monument Grows Gold Project Pipeline

Release #12 - 2011

Vancouver, B.C. Monument Mining Limited (TSX-V: M MY and FSE: D7Q1) (�Monument� or the �Company�) is pleased to announce it has entered into an Earn-In Agreement with a Malaysian company, Emas Kehidupan Sdn. Bhd. (�EK�) and its 30% joint venture partners, under which Monument has the right to earn up to a 100% interest in the Gunung Arong Gold Prospect (the �Mersing Gold Project�) through its wholly owned Malaysian subsidiary Damar Consolidated Exploration Sdn. Bhd..
 
The Mersing Gold Project is held through mining certificate #1221 (�MC 1221�) for 256 hectares of prospective land, located approximately 30 kilometers north-west of Mersing Town in Jahore State, Malaysia.
 
The original Malaysian Geological Survey identified a widespread geochemical anomaly that follows the north-west regional structural trend running for more than 30 kilometers, commencing near the beach at Kampung Sri Pantai running inland toward the Mersing Gold Project.The presence of widespread quartz veining within the highly deformed metasediments, sulphide mineralization and free gold showing in the vein material, and the evidence of substantial alluvial mining and processing activities indicate that the Mersing Gold Project has potential to host primary gold mineralization. To date, the area has not been systematically explored for its primary gold potential and no production details are available.
 
Exploration at the Mersing Gold Project will provide an opportunity to understand the geological nature of gold mineralization within the Mersing district and, if successful, will create an opportunity for further discovery along the structural trend as defined by the Mineral and Geosciences Department of Jahore State. The Company has been investigating on this property for over two and a half years including field visits since 2008.
 
Monument will initiate the first two year earn-in period by paying $500,000 cash and, subject to TSX Venture acceptance, issuing 1,500,000 fully paid Monument shares to the vendors in exchange for 70% of the shares in EK (which holds a 70% interest in the Mersing Gold Project), and accordingly a 49% interest in the Mersing Gold Project. Initiation of the first two-year earn-in period results in an exploration obligation totaling $2,000,000 to be completed within two years.  
 
The Company has the right to earn a further 21% interest in the Mersing Gold Project by making either, at the option of the vendors, a further $1,500,000 cash payment to the vendors or by issuing 2,500,000 fully paid Monument shares to the vendors in order to acquire the remaining 30% of the issued EK shares bringing its interest in the Mersing Gold Project to 70%.  Initiation of the second two-year earn-in period results in a further exploration obligation totaling $2,000,000 to be completed by Monument within two years.  
 
Upon reaching a 70% ownership level in the Mersing Gold Project, the Company has the right over the following 180 day period to buy out the remaining 30% interest achieving 100% ownership in the Mersing Gold Project. The consideration of buy-out will be based on an independent valuation and be paid in cash or by issuing shares of Monument at the option of the vendors. Throughout these arrangements Monument will be the sole operator and manager of the Mersing Gold Project.
 
President and CEO Robert Baldock stated: �This agreement is a demonstration of the Company�s previously announced intention to continue building a pipeline of projects in Malaysia. These projects will be acquired, developed and operated with minimal shareholder dilution through the surplus cash flow generated from the Selinsing gold production where mill capacity is expected to be increased to approximately 1,000,000 tpa from 400,000 tpa upon completion of the gold plant expansion�.
 
About Monument Mining Limited                   


Canadian based Monument Mining Limited 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. In addition, the Company recently acquired the Famehub properties comprising 32,000 acres of prospective exploration land adjacent and nearby the Selinsing and Buffalo Reef properties.
 
In conjuction with extensive exploration programs at Selinsing, Buffalo Reef and the Famehub properties, the Company recently announced it exceeded its 2011 financial gold production target of 40,000 ounces by 10%. The Selinsing Gold Mine is scheduled to increase its annual production rate to approximately 55,000 ounces of gold inside its first full year of commercial production with an estimated average operating cash cost of approximately $317 per ounce. The phase III capacity expansion of the 400,000 tpa gold treatment plant to 1,000,000 tpa through the addition of an additional milling circuit is targeting completion in May 2012. The Company has recently announced that construction has commenced on the processing plant expansion and the expansion of the tailings storage facility to enable throughput of approximately 1,000,000 tpa for 10 years.
 
The Company has also signed a binding MOU to acquire a 70% interest in the Mengapur Polymetalic Project in Malaysia subject to due diligence, and a variety of conditions including regulatory approval.  Details of the project are available on the website.
 
  
Please visit our website at www.monumentmining.com for more information.
 
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 910- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1
For further information contact:

Monument Mining Limited:
RICHARD CUSHING,
Investor Relations
T +1 604 638 1661 x 102
E: rcushing@monumentmining.com
W: www.monumentmining.com
  CHF Investor Relations:
ROBIN COOK,
Senior Account Manager
T: +1 416 868 1079 x 228
E: robin@chfir.com
W: www.chfir.com
  Axino AG - Europe
WOLFGANG SEYBOLD,
President and CEO
T: +49 711 25 35 92 40
E: wolfgang.seybold@axino.de
W: www.axino.de
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of this release."

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, the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument. Statements regarding the future price of gold, timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward- looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.


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Monument Mining Limited

PRODUCER
CODE : MMY.V
ISIN : CA61531Y1051
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Monument Mining is a gold producing company based in Canada.

Its main asset in production is SELINSING in Malaysia and its main exploration properties are MENGAPUR and BUFFALO REEF in Malaysia.

Monument Mining is listed in Canada and in Germany. Its market capitalisation is CA$ 21.0 millions as of today (US$ 16.8 millions, € 14.7 millions).

Its stock quote reached its highest recent level on January 21, 2011 at CA$ 0.74, and its lowest recent point on April 09, 2020 at CA$ 0.04.

Monument Mining has 322 720 000 shares outstanding.

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Financings of Monument Mining Limited
2/13/2013Announces Closing of First Tranche of Brokered Private Place...
10/17/2012Announces Private Placement
10/12/2011Announces Private Placement of up to $70=2C000=2C000
8/12/2010Closes $13.0 Million Financing
7/22/2008Closes $38.1 M Private Placement and Convertible Note Financ...
Nominations of Monument Mining Limited
1/8/2014Receives Notice of Nominations for Election of Directors
1/8/2014Receives Notice of Nominations for Election of Directors
10/28/2013Appoints Executive General Manager, Monument Malaysia Group
9/20/2012Appoints Chief Operating Officer
6/29/2012Appoints Gerald Ruth to Board
1/25/2012Grants Share Purchase Options to its Directors
12/21/2011Appoints Graham Dickson as Chairman of the Board
6/9/2010Engages CHF in Investor Relations and Updates $12 Million Fi...
6/9/2010Grants 1,600,000 options to CHF investor relation firm
6/30/2009Appoints New Director
12/17/2008Appoints New Directors and Names George Brazier Chairman of ...
8/25/2008Appoints General Manager and Mine Manager
6/20/2008Appoints AXINO AG to provide Investor Relation Services (Rev...
Financials of Monument Mining Limited
11/29/2013Reports First Quarter Fiscal 2014 Results
5/30/2013Reports Third Quarter Fiscal 2013 Results
6/1/2012=E2??s 2012 Third Quarter Results
3/1/20122012 Second Quarter Results
1/5/2012=E2??s 2012 First Quarter Results
5/30/2011 2011 Third Quarter Results
5/9/2011 Third Quarter Production and Sales Results
3/1/2011 2011 Second Quarter Results
Project news of Monument Mining Limited
5/15/2013Central Australian Phosphate and Monument Mining to Establi...
5/1/2013s Its Interest In Central Australian Phosphate Limited
4/30/2013(Selinsing)s Selinsing and Buffalo Reef Resources
3/19/2013Abandons Earn=2DIn on Mersing Project
10/26/2012Attending Singapore and German Resource Conferences
10/25/2012(Selinsing)to Vigorously Defend Opportunistic Claim Filed Against Seli...
10/9/2012(Mengapur)Signs Harmonization Agreement on Mengapur Project
3/26/2012(Selinsing)Exposes Gold Thieves at Selinsing Gold Mine
2/21/2012(Mengapur)Closes Acquisition of 70% of the Mengapur Polymetalic Projec...
2/2/2012(Mengapur)Receives Final Acceptance from the TSX=2DV to Close the Meng...
12/3/2011(Mengapur)Enters into Definitive Agreement for Acquisition of 70% of ...
9/15/2011Grows Gold Project Pipeline
7/26/2011(Selinsing)Releases Positive Drill Results from Selinsing Property in M...
7/22/2011(Selinsing)to Expand Tailings Storage Facility at Selinsing Gold Mine i...
6/1/2011(Mengapur)Agrees to Acquire a 70% interest in the Mengapur Polymetalic...
5/29/2011(Buffalo Reef)REPORTS NI43-101 RESOURCES AT BUFFALLO REEF PROPERTY
3/3/2011(Selinsing)to Increase Gold Production
2/21/2010(Selinsing)Starts Commissioning CIL Circuit While Gravity Circuit is in...
11/4/2009(Selinsing)Pours First Gold From Gravity Circuit
9/1/2009(Selinsing)Obtains Power Connection at the Selinsing Gold Project and
7/20/2009(Selinsing)Commences Open-Pit Mining at the Selinsing Gold Project
2/11/2009(Buffalo Reef)Confirms Amended Plan for Gold Production from Phase I Gravi...
2/2/2009(Buffalo Reef)Releases Drill Results, Selinsing Developments and Director’...
3/7/2008(Buffalo Reef)Releases Positive Drill Results?Phase II Program at Buffalo ...
3/4/2008(Buffalo Reef)Positive Drill Results?Phase II Program at Buffalo Reef
2/7/2008(Buffalo Reef)'s Phase I Drill Program Confirms Previous Drill Results on ...
Corporate news of Monument Mining Limited
7/11/2016Monument Announces Significant Intercepts Assay Results at N...
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11/30/2015Monument Reports First Quarter Fiscal 2016 Results
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9/30/2015Monument's Fiscal 2015 Results
9/28/2015Monument Progresses Mine Development at Burnakura Site
8/17/2015Monument Murchison Gold Project Update
8/12/2015Monument Files Amended Technical Report for Murchison Gold P...
7/31/2015Monument Litigation Update
4/2/2015Monument files NI43-101Technical Report for Resource Estimat...
4/2/2015Monument files NI43-101 Technical Report for Resource Estima...
3/23/2015Monument Mining Announces Results of Annual General Meeting ...
3/8/2015Monument Reports Second Quarter Fiscal 2015 Results
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12/23/2014Monument Announces Termination of Proposed Transaction with ...
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11/30/2014Monument Reports First Quarter Fiscal 2015 Results
11/18/2014Monument Receives Order to Extend Time for Holding Annual Ge...
11/18/2014Monument Announces Second Round of RC Assay Results at Murch...
11/18/2014Extension of Closing Date for Proposed Transaction, 189 KB
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11/12/2014Monument Completes Tuckanarra Gold Project Acquisition in We...
11/8/2014Monument to Extend Time for Holding Annual General Meeting
10/27/2014Monument Extends Close Date of Tuckanurra Acquisition
10/20/2014Monument Updates Selinsing Litigation
10/6/2014Monument Updates Selinsing Litigation
9/30/2014Monument's Fiscal 2014 Results
1/28/2014Files Lawsuit Against GoldMet and George Molyviatis to enfor...
1/28/2014Files Lawsuit Against GoldMet and George Molyviatis to enfor...
1/20/2014Warns Shareholders to Be Wary of the Dissident Group Attempt...
5/23/2013(Selinsing)Files Technical Report for Selinsing and Buffalo Reef
5/1/2013Reports Third Quarter Gold Production of 13=2C255 Ounces
4/24/2013Confirms Indicative Non=2DBinding Conditional Proposal to ac...
4/15/2013(Buffalo Reef)Starts Mining and Processing Oxide Materials at Buffalo Reef
4/2/2013Announces Results of Annual General Meeting of Shareholders
3/13/2013President and CEO to Speak at Hong Kong Conference
2/22/2013Settles Legal Disagreement
2/21/2013Welcomes Support from Major Shareholder
2/8/2013Further Comments on GoldMet Disclosure
2/8/2013Comments on GoldMet Disclosure=3A No Agreement Reached
1/17/2013Provides Update to Shareholders
1/11/2013Reports Record Second Quarter Gold Production of 15=2C902 Ou...
11/14/2012Has Engaged Mackie Research Capital Corporation as Financial...
11/10/2012to Extend Time for Holding Annual General Meeting
10/2/2012=E2??s 2012 Annual Results=3A Gross Revenue of $61.7 M with ...
8/24/2012(Mengapur)Confirms Historic Drilling Results at Mengapur Polymetalic P...
8/16/2012(Selinsing)Completed Selinsing Gold Plant Expansion
8/7/2012(Mengapur)Provides Updates on Mengapur Project and Private Placement
7/30/2012=E2??s 2012 Fourth Quarter Production Result
7/24/2012Received $12 Million through Exercise of Stock Purchase Warr...
6/19/2012and PLSB Working Together Harmonizing Oxide Magnetite Iron O...
5/14/2012=E2??s 2012 Third Quarter Production
5/9/2012Announces Senior Management Appointments
4/25/2012to Attend The INVEST 2012 Conference in Stuttgart
1/25/2012=E2??s 2012 Second Quarter Production
1/4/2012Announces Results of Annual and Special General Meeting of S...
12/20/2011Reminds Shareholders to Vote
12/16/2011(Mengapur)Discusses Mengapur Property Iron Ore Production Information
12/15/2011Provides Details of Annual General and Special Meeting
12/13/2011Annual General and Special Meeting Important Reminder
10/26/2011=E2??s 2012 First Quarter Production
9/29/2011=E2??s 2011 Annual Results
8/8/2011=E2??s 2011 Fourth Quarter Production and Sales Results
1/15/2010Fundamental Research Report Update #2
12/21/2009to Raise $12.0 M in Convertible Debenture and Forward Gold S...
9/18/2009to Issue Shares for Debt to Avocet Mining PLC
7/8/2009Moves to New Office
5/13/2009Releases Selinsing Gold Project Update
2/13/2009 Grants Stock Purchase Options to its Key Staff and Consulta...
12/24/2008Amends Selinsing Gold Project Construction Plan
9/24/2008Fundametal Initial Research Report
8/20/2008Announces TSXV’s Acceptance of its Ball Mill Acquisition fro...
8/15/2008Grants Stock Purchase Options to its Directors Officers unde...
8/8/2008Commences Action for Injunction and Damages
7/28/2008Closes Avocet Mill Transaction For Future Plant Upgrade
7/8/2008Acquires Package of Additional Adjacent Land - Update
6/20/2008Notice of Change of Business Address
5/26/2008Acquires Second Mill for Future Production Plant Upgrade
5/13/2008Monument Announces $38.0 M Capital Raising to Commence Plant...
1/21/2008Acquires Package of Additional Adjacent Land
10/25/2007 Q1 Project Development Update
9/13/2007Commences Exploration Program
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TSX-V (MMY.V)FRANKFURT (D7Q1.F)
0.065+0.00%0.044-20.00%
TSX-V
CA$ 0.065
09/27 16:58 -
0%
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24hGold TrendPower© : -40
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