Release #11 - 2008

Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) announces that the Board of Directors approved a fixed Stock Option Plan (“the 2009 Plan”) which reserves in the aggregated 22,126,000 share purchase options for its directors, officers, employees and consultants. The 2009 Plan is subject to acceptance by the TSX Venture Exchange and approval by a disinterested vote of the Company’s shareholders.

The 2009 Plan 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 2009 Plan is considered to be a fixed plan and it requires the Company to seek disinterested shareholders’ approval each year. 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 immediately 13,390,000 stock purchase options to its directors, officers, employees and consultants. The stock purchase options are exercisable at a price of $0.40 for five years, vesting period varies from zero to three years. As a result of this grant and prior grants, a total of 17,760,000 stock purchase options have been granted and 4,366,000 shares are available for further grant under the 2009 Plan. The 10% Rolling Stock Option Plan (“The 2008 Plan”) has automatically rolled over to the 2009 Plan.

The Company has recently announced the closing of its $38.1 M Private Placement and Convertible Note and that it is now fully funded for the Gold Treatment Plant construction and open pit development at its 100% owned Selinsing Gold Mine Property. The 2009 Plan is designed as an incentive vehicle to reward the Company’s directors, officers, employees and consultants to achieve a successful completion of this facility and other projects including the exploration programs on time and on budget. 


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.