• Gold Price USD $2,053.34
  • TSX.V: MMY
  • FSE: D7Q1
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Monument Appoints New Directors and Names George Brazier Chairman of the Board

December 17, 2008

Release #16 - 2008

Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) announces that at its Shareholders’ Annual General Meeting held on 5th December 2008 (the “AGM”) the new Board of Directors was formed with a total of eight members: new members elected were George Molyviatis, Lorenzo Trentini and George Brazier; The re-elected members were Robert Baldock, Zaidi Harun, Adam Bradley, Carl Nissen and Patrick Soares.

Mr. George Brazier was elected as Chairman by the new board. Mr. Brazier has served as the Corporate Legal Counsel since the incorporation of the Company. He is a member of the Law Society of British Columbia and the Canadian Bar Association. He has practiced law for 42 years, the last 40 years at DuMoulin Black LLP, a boutique law firm specializing in corporate and securities law.

Mr. Brazier said: “The Company was recently elevated to a Tier I Company under the rules of the TSX Venture Exchange. To ensure good corporate governance practice, the Board has appointed an independent chairman. Mr. Baldock, the former Chairman, stepped down for this purpose. Mr. Baldock is the founder of Monument and its business and a strategic leader of the Company. Under his leadership, within 1½ years the Company has successfully raised a total $50 million capital to fund acquisitions of its mineral properties and construction of the gold treatment plant and development of the Selinsing Gold Mine. As a company builder, he has rapidly turned the the company into an emerging gold producer, expecting to be in full production in Q4 2009. Mr. Baldock, as CEO and President, will continue to lead the development of the Company to a gold producer and to increase the gold reserves and resources of the Company. 

Ms. Sharmila Gracieuse was appointed as Corporate Secretary. 

The 2009 Stock Option Plan was adopted at the AGM. It allows the Company to grant stock purchase options to its directors, officers, employees and consultants. The maximum number of shares eligible to be reserved for issuance under the 2009 Plan is 22,126,000. The number of shares issuable within a 12 month period under the 2009 Plan shall not exceed 6% of issued and outstanding shares to any one Optionee. The exercise price of each option is set by the Board of Directors at the time of grant but cannot be less than the market price. The Company’s Board of Directors has discretion as to the number, vesting period and expiry dates of stock options granted.

The board of directors has granted under the 2009 Plan additional 4,261,000 stock purchase options to its directors for a period of five years of which 1,200,000 are exercisable at $0.50, 690,000 at $0.40 and 2,371,000 at $0.25. The $0.25 options will vest upon Monument achieving full commercial production of 400,000 tpa CIL Gold Treatment at the Selingsing Gold Mine. As a result of the new grants and prior grants, a total of 22,126,000 stock purchase options have been fully granted under the 2009 Plan. 


Robert F. Baldock, President and CEO
Monument Mining Limited
Park Place, Suite 710, 666 Burrard Street
Vancouver B.C. Canada V6C 3P6

For further information contact:

North America:
Richard Cushing, Investor Relations
Office: 604.638.1661
Cell: 604.889.6563
E-mail: info@monumentmining.com
Website: www.monumentmining.com

Europe:
Wolfgang Seybold, President and CEO, Axino.AG
Office: +49.711.25.35.92.40
Fax: +49.711.25.35.92.55
E-mail: wolfgang.seybold@axino.de
Website: 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.


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