1 September
2009
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NEWS RELEASE
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Release # 7 - 2009
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Monument Obtains Power
Connection at the Selinsing Gold Project and
Starts Gravity Plant
Commissioning
Vancouver,
B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1)
"Monument" or the "Company" is pleased to announce
that electrical power has been connected to the power sub-station at the Selinsing Gold Project. In addition, commissioning
has started in regards to the Stage I Gravity Plant. The Selinsing Gold Project is wholly owned by the Company
and located in Pahang State,
Malaysia.
The
Malaysian government power supplier, Tenaga Nasional Berhad
("TNB"), has connected a 33kVA feed to the Selinsing
HT transformers and the metering has been installed. TNB will commission
and load test for the next two weeks before official handover can take
place. Tests will be in stages, area by area independently concluding
with a total load test.
In
the meantime the Company has commenced controlled and staged
commissioning of the Gravity Plant through the use of its portable
generator sets. Pump tests have already been underway.
Once
the Phase I gravity section of the plant is fully commissioned, the
Company will commence gold production from the Gravity Plant in parallel
with the ongoing Phase II construction of the CIL circuit.
Phase
II, the construction of the CIL circuit, is on schedule and it is
expected that the entire plant will be fully commissioned by the end of
December 2009. The Company will operate the gravity circuit to
achieve cash flow in parallel with completing construction of the CIL
circuit and commissioning of the full plant.
The
plant construction progress can be seen in an update of the Photo Gallery
on the Company web site at http://www.monumentmining.com/ and
investor inquiries are welcome to info@monumentmining.com.
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 490- 688 West
Hastings Street
Vancouver B.C. Canada V6B
1P1
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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