VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 29, 2016) - Monument Mining Limited (TSX
VENTURE:MMY)(FRANKFURT:D7Q1) "Monument" or the "Company" reports that an independent confirmation metallurgical testwork program
has been recommended, designed and carried out by Orway Metallurgical Consultants ("Orway") after a review of the results from
the second Intec pilot campaign. This is to ensure that the results achieved to date from all testwork programs undertaken
by the Company at the Selinsing site will be verified by an independent certified metallurgical laboratory under required QA/QC
standards and recognized controlled environment.
The results of the second pilot plant campaign completed in July have been analyzed and are revealing for several reasons.
Intec International Projects and DCS Technical have previously demonstrated that gold can be liberated from arsenopyrite material
but not well from pyrite material. The second pilot run was able to demonstrate in the first batch that the Intec Process
completely dissolved pyrite, thus liberating gold from this type of material thus making it available for recovery by
conventional carbon in leach ("CIL") methods, although the pilot plant campaign did not complete satisfactorily and only operated
batchwise due to mechanical issues.
Generation of the flotation concentrate from Buffalo Reef representative metallurgical drill program core samples for the
second pilot plant campaign showed that on average more than 80% of gold was recovered into the concentrate. The concentrate
was fed to the Intec Process pilot plant which, in the first batch using specific parameters, resulted in liberation of 86% of
gold from the concentrate. Subsequent batches were adversely affected due to lack of aeration. Further test work is ongoing to
recover the gold from the flotation tails which will be addressed in the Orway program mentioned below and is expected to
potentially increase overall gold recovery.
The Orway recommended metallurgical testwork program is designed, at a bench scale level, to provide an independent
confirmation of the recoveries of gold from sulphide resources that is planned to be mined from Buffalo Reef, using the Intec
Process technology. Capital and operating costs will be developed for the Intec Process, as well as for biological, and acid
leaching process as alternatives for comparison purposes, and will be included in the study for the recovery of gold from Buffalo
Reef sulphide mineralization.
ALS Metallurgy Pty Ltd ("ALS") in Perth Western Australia and Burnie, Tasmania are nominated by Orway and agreed to by the
Company to undertake this work. The ALS Laboratory in Burnie has been set up to be able to accommodate a large range of test-work
programs, specifically including the Intec Process.
The quantity of flotation concentrate generated for the second pilot plant campaign and representative of the Buffalo Reef
resources will enable the above metallurgical testwork program, under the control of Orway, to be conducted using the same
feedstock. Subject to results, this may lead to a further pilot plant run for which there is still more than 800 kg of the same
concentrate sample on hand at the Selinsing site laboratory.
Monument is encouraged by the results of metallurgical testwork programs undertaken at the Selinsing site in-house laboratory
to date and will announce the results of the above independent testwork program when completed, expected in approximately 10 to
12 weeks.
Michael Kitney, MAusIMM, MSc has reviewed, supervised the preparation and approved the scientific and technical disclosure in
the news release as a Qualified Person under NI43-101 standards.
About Monument
Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) 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
approximately 240 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. The Company has also been looking in other
countries seeking potential opportunities for larger resources, including the Democratic Republic of Congo ("DRC").
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6
"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 Statement
This news release includes statements containing forward-looking information about Monument, its business and future plans
("forward-looking statements"). Forward-looking statements are statements that involve expectations, plans, objectives or future
events that are not historical facts and include the Company's plans with respect to its mineral projects and the timing and
results of proposed programs and events referred to in this news release. 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". 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: risks 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 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: 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 statements, except in accordance with applicable securities laws.