Monument Mining Limited

Published : February 16th, 2015

Monument Files Claim Against Summer Empire Sdn. Bhd. and Kesit Pty Ltd. For Selinsing Mining Sdn. Bhd. Shares

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Monument Files Claim Against Summer Empire Sdn. Bhd. and Kesit Pty Ltd. For Selinsing Mining Sdn. Bhd. Shares

Feb 16, 2015

Monument Files Claim Against Summer Empire Sdn. Bhd. and Kesit Pty Ltd. For Selinsing Mining Sdn. Bhd. Shares

- Monument Mining Limited, Able Return Sdn. Bhd. (the "Plaintiff") VS Summer Empire Sdn. Bhd. and Kesit Pty. Ltd. (the "Defendants") ("Monument VS Summer & Kesit")

Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") announces Monument and Able Return Sdn Bhd ("Able") have now filed a writ at the Kuantan High Court against Summer Empire Sdn. Bhd. ("Summer") and Kesit Pty Ltd ("Kesit") claiming 100% of the issued shares of Selinsing Mine Sdn. Bhd ("SMSB").

Summer is the trustee appointed to hold 100% of the issued shares of SMSB in trust for Able, a wholly owned subsidiary of Monument through which Monument holds a 100% interest of the Selinsing Gold Mine. However, Summer transferred shares of SMSB to Kesit, an Australian company owned by Peter Steven Kestel and his wife. Peter Steven Kestel is a common director of Summer, Kesit and SMSB. The writ seeks return of 100% of the issued shares of SMSB to Able, on behalf of Monument, the rightful owner of those shares.

The Lawsuit

In the lawsuit Monument and Able claim as follows:

Pursuant to an purchase and sale agreement dated May 31, 2007 (the "May 2007 Purchase and Sale Agreement"), on June 25, 2007 Monument acquired a 100% interest in MC 1/124 and MC 1/113, the mineral properties comprising the Selinsing Gold Mine in Malaysia from SMSB, free and clear of all encumbrances by paying $12,500,000 in cash and issuing 31,400,009 shares and 5,000,000 warrants of Monument to SMSB's shareholders, including Peter Steven Kestel.

As stipulated in the May 2007 Purchase and Sale Agreement, 100% of the shares of SMSB were to be held by Summer in trust for Able and, subject to certain terms and conditions, Summer was required to transfer and assign to Able 100% of the issued SMSB Shares. In breach of that trust Summer transferred 1,999,998 of the 2,000,000 issued shares of SMSB to Kesit, a company under Peter Steven Kestel's control and which already held 2 of the 2,000,000 issued shares of SMSB.

Monument and Able, according to the claim against Summer and Kesit, have applied for a declaration that the transfer of the shares of SMSB by Summer to Kesit or to any third party thereafter is null and void, and for an Order requiring Summer and Kesit to return 100% of the issued shares of SMSB to Able.

If the above suit succeeds, Monument through Able will be the legal as well as the beneficial owner of SMSB and may then determine the future course that SMSB will take.

About Monument

Monument Mining Limited (TSX-V: MMY, FSE: D7Q) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is advancing several exploration and development projects including the Mengapur Polymetallic Project, in Pahang State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia. The Company employs over 300 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities.

Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6

FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact:

Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 [email protected]
Wolfgang Seybold, Axino GmbH -Europe T: +49 711-2535-92 40 [email protected]

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Forward-Looking Statements

This news release includes statements containing forward-looking information about Monument, its business, its business associated events including legal matters and future plans ("forward-looking statements"). 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 differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation: risk related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities; foreign operations risks; other risks inherent in the mining industry including the success of Monument in litigation(s) disclosed in the news release, and other risks described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors and assumptions used to develop forward-looking statements in this news release include: based on advice from its Malaysian legal counsel, Monument has a good cause of action against Summer and Kesit in respect of such litigation; expectations regarding 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; assumptions and expectations regarding the results of exploration on the Company's projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; the expected timing and results of development and exploration activities; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are 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 statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements 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 statements. 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$ 79.1 millions as of today (US$ 57.4 millions, € 52.6 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
6/9/2010Grants 1,600,000 options to CHF investor relation firm
6/9/2010Engages CHF in Investor Relations and Updates $12 Million Fi...
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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3/23/2016Monument files NI43-101Technical Report for Resource Estimat...
11/30/2015Monument Reports First Quarter Fiscal 2016 Results
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9/30/2015Monument Commissions Intec Pilot Plant at Selinsing
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
2/27/2015Monument Reports Second Quarter Fiscal 2015 Results
2/27/2015Monument Delays Start-up of Iron and Copper Project at Menga...
2/18/2015Monument Announces Mineral Resource on Alliance/New Alliance...
2/16/2015Monument Files Claim Against Summer Empire Sdn. Bhd. and Kes...
2/13/2015Monument Announces Adjournment of Shah Alam High Court Trial...
2/7/2015Monument Issues Shares for Intec Transaction
2/6/2015Monument Issues Shares for Intec Transaction
2/2/2015Monument Secures Intec License to Exploit Sulphide Gold and ...
1/21/2015Monument Update Selinsing Litigation
1/20/2015Monument Update Selinsing Litigation
1/19/2015Monument Announce RC Assay Results from Federal City Drillin...
12/23/2014Monument Announces Termination of Proposed Transaction with ...
12/1/2014Monument Reports First Quarter Fiscal 2015 Results - Gold Pr...
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
11/17/2014Monument Extends Closing Date of Proposed Transaction with G...
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
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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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