VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 11, 2017) - Monument Mining Limited (TSX
VENTURE:MMY)(FRANKFURT:D7Q1) ("Monument" or the "Company") reports that, following up on the announcement of the pre-feasibility
study results in a SEDAR filed "NI 43-101 Technical Report - Selinsing Gold Mine and Buffalo Reef Project" (the "Selinsing 2016
NI43-101 Pre-Feasibility Study", or the "PFS") on December 14, 2016, additional test work to further optimize bioleach sulphide
treatment recoveries has now been commenced in parallel with completing Intec and acid leaching alternatives at its wholly owned
Selinsing Gold Mine in Malaysia.
The Selinsing 2016 NI43-101 PFS report prepared by Snowden Mining Consultants has focused on a biological treatment approach
as an economically viable option for the Company to maximize gold recovery from the sulphide material. A total Mineral
Reserve of 279 koz of gold from 6,217 kt of ore at a grade of 1.40 g/t Au is reported, including 60 koz of gold from 2,736 kt of
oxide ore at a grade of 0.68 g/t Au, which will support the Company's next 18 to 24 months production in transition
period. Remaining sulphide ore will be processed primarily through an additional biological pre-treatment circuit planned to
be added to the existing plant. Upon success of final design, in-house construction and commissioning, the upgraded plant will
enable the Company to continue gold production at Selinsing for a further estimated 5 years through to 2023 without further ore
discovery, as demonstrated by the recent NI43-101 PFS report.
The additional test work is aimed to confirm that the biological approach is suitable and the outcome could be further
optimized to provide the highest recovery of gold, based on the results of the work to date undertaken by the Company and the
results achieved through independent consultants and third party laboratories, and therefore to provide a higher level of
confidence with respect to gold recovery and enable robust capital and operating costs to be generated in comparison with the
current NI 43-101 PFS results.
The biological test work has been arranged through a biological/bacterial leaching specialized laboratory in South Africa. The
remaining feedstock from the Buffalo Reef ore body used for the second Intec pilot campaign are representative and sufficient for
the test work carried out under the control of independent specialists. In parallel with the additional biological test work
program, Monument's in-house R&D team is also considering innovative methods to further reduce capital and operating costs
and thus enhance the economics of the project by all other avenues. An interim engineering design for the biological process
plant has been completed by Monument that can be modified should test results require for delivery of a final engineered
integrated sulphide process pre-treatment plant.
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 260
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 the Congo ("DRC").
Robert F. Baldock, President and CEO, Monument Mining Limited
"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.