Release #3 - 2009
Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) announces that it has granted a total of 550,000 stock purchase options to its newly appointed key staff and consultants as it ramps up its 100% owned Selinsing Gold Project in Malaysia.
The new stock purchase options were issued under the 2009 Stock Option Plan. 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 550,000 newly granted stock purchase options have a life of five years from the grant date, exercisable at a price of $0.25. The options have a 4 month hold and will vest over a 2-year period, one year and two years respectively after the issue date. As a result of the new grants and prior grants, a total of 21,676,000 stock purchase options have been granted and 450,000 common shares are reserved for grant under the 2009 Plan.
Monument Mining Limited is an emerging Gold Producer exploring in the Malaysian Gold Belt in Pahang State, Malaysia. The Company is fast tracking gold production at its 100% owned Selinsing Gold Mine Project targeting production in Q3-2009 and is unhedged. Monument is strategically exploring gold resources at 100% owned Damar Buffalo Reef Prospect and expanding it land holdings.
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:
Richard Cushing, Investor Relations
Wolfgang Seybold, President and CEO, Axino.AG
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.
This press release contains forward-looking statements about Monument Mining Limited (“Monument”), its business and future plans, including the contemplated phase I and phase II development plans resulting in the commencement of mining and gold production, and in respect of the dates and amounts projected for these two phases resulting in the plant construction, gold production, gold sales and costs of the Selinsing Project. Forward-looking statements are statements that are not historical facts and include the timing of the proposed programs and events. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to different materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation, uncertainty to the actual cost of the gravity circuit and the estimated cash flows which may be generated from the gravity circuit, the risk that the Selinsing Project will not be completed successfully or in a timely manner, general economic factors and other factors that may be beyond the control of Monument. Forward-looking statements are based upon the beliefs, opinions and expectations of the management of Monument at the time they are made and Monument does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations or circumstances should change.
Release #3 - 2009