News release via Canada NewsWire, Vancouver 604-669-7764

Attention Business Editors:
Moncoa Changes Name to Monument Mining Limited and completes Roll-Back

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES/

VANCOUVER, May 3 /CNW/ - Moncoa Corporation (TSX-V: MON) (“Moncoa” or the
“Company”) is pleased to announce that it has changed its name to Monument
Mining Limited (“Monument”). At the same time the Company received TSX-V
acceptance to proceed with its capital reconstruction by reducing the number
of issued and fully paid shares on the basis of one new Monument share being
issued in return for each two old Moncoa shares presently held. All future
shares issued by the Company will be in the name of Monument. The Company will
also change its TSX-V trading symbol and will no longer use the symbol
“TSX-V:MON”. The new symbol will be “TSX-V: MMY” when the acquisition of the
Selinsing Gold Mine in Malaysia is completed (the “RTO”) and will be used when
the Company’s shares re-commence trading on the Exchange.

Following the announcement on 4 April 2007 that the Company had signed an
MOU with Avocet Mining PLC in relation to the acquisition of all of the issued
shares in Damar Exploration Consolidated Sdn Bhd, to acquire an exploration
package, the Company is now having an independent NI-43-101 report prepared as
part of its due diligence process. This NI-43-101 report will be filed on
SEDAR when completed. Full details of the acquisition have been filed on SEDAR
and announced in the above mentioned news release.

As Monument now moves toward closing the acquisition, the Company
confirms it has previously obtained shareholder approval to proceed with the
RTO, however completion of due diligence and regulatory approval for the
acquisition of the Damar interests and the RTO completion is still required.
The Company also has to raise the required equity capital and Haywood
Securities Inc. has been retained as Agent to assist the Company to raise this
capital by way of a private placement of up to $9,000,000 with the ability to
accept up to a further $2,000,000 by way of over-allotment.

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.

%SEDAR: 00008911E
/For further information: Robert F. Baldock, Chairman and CEO, Moncoa
Corporation, Suite 900, 1125 Howe Street, Vancouver, B.C., Canada, V6Z 2K8/
(MON.)
CO: Moncoa Corporation
CNW 09:00e 03-MAY-07