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Monument Announces Significant Intercepts at Peranggih

July 16, 2018

ancouver, B.C., July 16, 2018, Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” is pleased to announce the drill results received from the infill and extension drilling program (“the 2018 drilling program”) at the Peranggih Gold Prospect (“Peranggih”) initiated in February 2018.

Highlight of the Best Intercepts at Peranggih

HOLE ID* From(m) To (m) Drilled Width (m) ~True Width (m) Au g/t
PGDD032 0.0 8.9 8.9 8.6 4.29
PGDD040 47.3 49.9 2.6 2.3 3.37
PGDD059 3.6 9.0 5.4 4.7 2.42
PGRC006 32.0 42.00 10.0 9.8 10.29
PGRC019 28.0 32.0 4.0 2.6 4.86

*all holes dipping 60 degrees to Azimuth 270 degrees.

Peranggih is located approximately 10 km North of the Selinsing Gold Mine (Figure 1). It has been identified as a new Gold Field hosting a significant mineralized hydrothermal breccia system. It has 1.2 km strike length with width varying from 25m to 50m, and depth from 40m to 70m. The mineralization occurs in the same regional shearing structure hosting Selinsing and Buffalo Reef deposits. The country rock of argillite, felsic tuff and discreet black shale were highly deformed as observed at Peranggih North’s more exposed area. The shear zone is more pronounced at the boundary of black shale and argillite and these structures are significant for the gold emplacement and deposition and continue to be a prime target for exploration.

Figure 1 - Location of the Peranggih Area in relation to Selinsing Property and gold plant.

 The 2018 Drilling Program at Peranggih

The 2018 drilling program is designed to cover strike and down dip extensions of the high grade mineralization area at an historical mining site at Peranggih North.  This mineralization of 150m strike length x 80m width was identified in 2017 through a 5m x 5m close spaced RAB drilling program. The aim of the 2018 drilling is to test continuity of the mineralization, and to verify extension down dip and along the strike for other zones trenched and drilled previously including Peranggih South, North 114 and NW.

The 2018 drilling program has completed a total of 2,725m of drilling from 55 drill holes, comprised of 1,015m for 21 DD drill holes and 1,710m for 34 RC drill holes at Peranggih North, South and North 114 areas (Figure 2).

The location of the completed drill holes in relation to the four zones is shown in Figure 2.  All completed exploration drill holes are inclined and dipping 60 degrees to the west (azimuth 270 degrees), aiming to intercept approximately perpendicular to mineralized structure except for one vertical hole. Drill depths are ranging from 20m to 95m.

Figure 2 - Location of the 2018 drilling program completed for Peranggih in relation to the four mineralization zones, highlighting significant intercepts.

An example of a cross-section showing the interpretation for the gold mineralization and significant gold intercepts is shown in Figure 3.

Figure 3 - Cross-section N479980 looking north, showing interpretation for LG and HG domains, and significant intercepts at HG domain.

The recent 2018 drilling program completed so far confirmed the down dip extension and boundary refinement of several high gold grade (HG) zones surrounded by a main low grade gold (LG) halo in Peranggih North, and the identification of HG bodies that can be surrounded or not by LG halos at Peranggih South area. The more continuous significant drill intersections (Au >2.0 g/t & >2.5m length) are presented in the table above.  PGDD holes are of diamond type, and PGRC holes are of RC type. Other more isolated medium to high grade intersects has also been recorded. The full set of drill results for the holes with significant intercepts are listed in Appendix A and Appendix B.

The work to date allowed a better delineation of the LG and HG mineralization, reducing the inclusion of internal dilution within the modeled gold lodes. The modelling is at the completion stage. A good part of the in-fill drilling confirming mineralization is going to be used to delineate Indicated Resources at the areas where the initial internal interpretation has been completed based on sparse regional drilling and trenching.

Follow up Bulk Sample and Exploration Programs

The Company plans to carry out a 10,000t bulk sample testwork through the existing Selinsing oxide gold processing plant to establish the average grade of the close spaced drilled area at Peranggih North; and test the metallurgical performance at plant scale. This work can commence as soon as the access road has been prepared targeting early 2019.  

Further infill/extension drilling targets have been identified around the higher to medium grade intercepts especially for Peranggih South and may start towards the end of the third quarter of fiscal 2019, depending upon successful results of the bulk sample testwork. The extension drilling at average spacing of 50m x 100m in the NW Peranggih area has also been planned to understand mineralization structure and to identify regional exploration targets.

Roger Stangler, Chief Managing Geologist of the Company, MEng, MAusIMM, MAIG, has prepared, reviewed, supervised the preparation and approved the scientific and technical disclosure in this news release as a Qualified Person under NI43-101 standards.

About Monument

Monument Mining Limited (TSX-V: MMY, FSE: 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 Copper-Iron 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 190 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.

Cathy Zhai, President and CEO
Monument Mining Limited
Suite 1580 -1100 Melville Street
Vancouver, BC V6E 4A6

FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact:

Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 rcushing@monumentmining.com
Wolfgang Seybold, Axino GmbH T: +49 711-82 09 7211 wolfgang.seybold@axino.com

“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.

Appendix A 
- Peranggih Infill and Extension RC and DD Drilling Campaign 2018: collar coordinates in Kertau MRSO Coordinate System

Hole ID End of Hole Depth (m) East North RL Dip Azimuth
PGDD032 40 422980.1 480242.9 123.082 -60 270
PGDD040 75 423015.7 480308.7 110.744 -60 270
PGDD059 30 422969.3 480262.9 123.366 -60 270
PGRC006 50 423144.0 479858.6 126.208 -60 270
PGRC019 50 423090.8 479980.7 107.920 -60 270

Appendix B 
- Assay Results for Peranggih Infill and Extension RC and DD Drilling Campaign 2018

Hole
ID
From
(m)
To
(m)
Au
g/t
  Hole
ID
From
(m)
To
(m)
Au
g/t
  Hole
ID
From
(m)
To
(m)
Au
g/t
PGDD032 0 1 2.58   PGDD040 10.7 11.9 0.78   PGDD040 57.5 58.7 0.03
PGDD032 1 2.5 10.9 PGDD040 11.9 12.6 5.98 PGDD040 58.7 59.7 0.01
PGDD032 2.5 4 9.95 PGDD040 12.6 13.6 0.65 PGDD040 59.7 60.5 0.02
PGDD032 4 5.2 0.52 PGDD040 13.6 14.6 0.25 PGDD040 60.5 61.5 0.005
PGDD032 5.2 6.6 0.4 PGDD040 14.6 15.7 1.59 PGDD040 61.5 62.7 0.13
PGDD032 6.6 7.9 1.49 PGDD040 15.7 16.6 0.16 PGDD040 62.7 64.1 0.12
PGDD032 7.9 8.9 1.2 PGDD040 16.6 17.9 0.11 PGDD040 64.1 65.6 0.01
PGDD032 8.9 9.9 0.86 PGDD040 17.9 18.7 0.08 PGDD040 65.6 66.6 0.01
PGDD032 9.9 11 0.17 PGDD040 18.7 19.7 0.1 PGDD040 66.6 67.6 0.005
PGDD032 11 11.9 0.1 PGDD040 19.7 21.1 0.08 PGDD040 67.6 68.9 0.005
PGDD032 11.9 12.9 0.2 PGDD040 21.1 21.8 0.03 PGDD040 68.9 70 0.005
PGDD032 12.9 13.9 0.85 PGDD040 21.8 22.6 0.05 PGDD040 70 71.2 0.005
PGDD032 13.9 15 0.51 PGDD040 22.6 23.6 0.05 PGDD040 71.2 72 0.05
PGDD032 15 16 0.1 PGDD040 23.6 24.7 0.03 PGDD040 72 72.9 0.04
PGDD032 16 17 0.09 PGDD040 24.7 25.6 0.04 PGDD040 72.9 74 0.02
PGDD032 17 17.55 0.14 PGDD040 25.6 26.6 0.04 PGDD040 74 75 0.01
PGDD032 17.55 18 0.01 PGDD040 26.6 27.6 0.04 PGDD059 0 0.5 0.32
PGDD032 18 19.3 0.005 PGDD040 27.6 28.6 0.11 PGDD059 0.5 1.5 0.13
PGDD032 19.3 20 0.01 PGDD040 28.6 29.7 0.06 PGDD059 1.5 2.5 0.32
PGDD032 20 21 0.005 PGDD040 29.7 30.4 0.04 PGDD059 2.5 3.6 0.27
PGDD032 21 22 0.005 PGDD040 30.4 31.2 0.02 PGDD059 3.6 4.6 1.05
PGDD032 22 23 0.005 PGDD040 31.2 32.2 0.03 PGDD059 4.6 5.7 0.45
PGDD032 23 24 0.005 PGDD040 32.2 33.7 0.03 PGDD059 5.7 6.8 0.68
PGDD032 24 25 0.02 PGDD040 33.7 34.9 0.04 PGDD059 6.8 8 5.42
PGDD032 25 26 0.005 PGDD040 34.9 35.9 0.05 PGDD059 8 9 4.29
PGDD032 26 27 0.005 PGDD040 35.9 37.4 0.02 PGDD059 9 9.7 0.31
PGDD032 27 27.8 0.005 PGDD040 37.4 38.6 0.02 PGDD059 9.7 10.7 0.8
PGDD032 27.8 29.3 0.005 PGDD040 38.6 40.1 0.01 PGDD059 10.7 12 0.08
PGDD032 29.3 30.3 0.005 PGDD040 40.1 41.3 0.05 PGDD059 12 12.5 0.05
PGDD032 30.3 31 0.005 PGDD040 41.3 42 0.09 PGDD059 12.5 13.7 0.03
PGDD032 31 32 0.02 PGDD040 42 43 0.17 PGDD059 13.7 14.8 0.04
PGDD032 32 33.2 0.03 PGDD040 43 44.2 0.51 PGDD059 14.8 15.8 0.14
PGDD032 33.2 34 0.005 PGDD040 44.2 45.2 0.1 PGDD059 15.8 17 0.03
PGDD032 34 34.8 0.005 PGDD040 45.2 46.3 0.03 PGDD059 17 17.8 0.04
PGDD032 34.8 35.7 0.005 PGDD040 46.3 47.3 0.31 PGDD059 17.8 18.7 0.02
PGDD032 35.7 36.8 0.02 PGDD040 47.3 48.1 1.23 PGDD059 18.7 20 0.02
PGDD032 36.8 37.85 0.01 PGDD040 48.1 49 0.04 PGDD059 20 21 0.02
PGDD032 37.85 40 0.02 PGDD040 49 49.9 8.61 PGDD059 21 22 0.02
PGDD040 0 1 1.2 PGDD040 49.9 50.7 0.05 PGDD059 22 23.2 0.02
PGDD040 1 2 0.42 PGDD040 50.7 51.4 0.05 PGDD059 23.2 24.45 0.01
PGDD040 2 3 0.12 PGDD040 51.4 52.1 0.07 PGDD059 24.45 25.3 0.02
PGDD040 3 3.8 0.08 PGDD040 52.1 53.3 0.1 PGDD059 25.3 26 0.03
PGDD040 3.8 4.5 0.03 PGDD040 53.3 54.3 0.02 PGDD059 26 27 0.01
PGDD040 4.5 5.5 0.03 PGDD040 54.3 55.3 0.01 PGDD059 27 28.1 0.02
PGDD040 5.5 6.5 0.02 PGDD040 55.3 56.4 0.02 PGDD059 28.1 29 0.01
PGDD040 6.5 7.5 0.09 PGDD040 56.4 57.5 0.04 PGDD059 29 30 0.01
PGRC006 0 1 0.29 PGRC006 13 14 0.39 PGRC019 9 10 0.02
PGRC006 1 2 0.32 PGRC006 14 15 0.33 PGRC019 10 11 0.14
PGRC006 2 3 0.11 PGRC006 15 16 0.12 PGRC019 11 12 0.17
PGRC006 3 4 0.16 PGRC006 16 17 0.18 PGRC019 12 13 0.1
PGRC006 4 5 0.16 PGRC006 17 18 0.1 PGRC019 13 14 0.08
PGRC006 5 6 0.11 PGRC006 18 19 0.1 PGRC019 14 15 0.17
PGRC006 6 7 0.05 PGRC006 19 20 0.06 PGRC019 15 16 0.22
PGRC006 7 8 0.07 PGRC006 20 21 0.07 PGRC019 16 17 0.005
PGRC006 8 9 0.12 PGRC006 21 22 1.57 PGRC019 17 18 0.56
PGRC006 9 10 0.13 PGRC006 22 23 0.9 PGRC019 18 19 1.83
PGRC006 10 11 0.43 PGRC006 23 24 0.11 PGRC019 19 20 0.81
PGRC006 11 12 0.43 PGRC006 24 25 0.12 PGRC019 20 21 1.46
PGRC006 12 13 0.3 PGRC006 25 26 0.27 PGRC019 21 22 1.87
PGRC006 13 14 0.39 PGRC006 26 27 0.17 PGRC019 22 23 2.08
PGRC006 14 15 0.33 PGRC006 27 28 0.15 PGRC019 23 24 1.48
PGRC006 15 16 0.12 PGRC006 28 29 0.16 PGRC019 24 25 0.56
PGRC006 16 17 0.18 PGRC006 29 30 0.64 PGRC019 25 26 0.34
PGRC006 17 18 0.1 PGRC006 30 31 0.75 PGRC019 26 27 0.14
PGRC006 18 19 0.1 PGRC006 31 32 0.92 PGRC019 27 28 0.16
PGRC006 19 20 0.06 PGRC006 32 33 17.9 PGRC019 28 29 1.4
PGRC006 20 21 0.07 PGRC006 33 34 59.4 PGRC019 29 30 8.68
PGRC006 21 22 1.57 PGRC006 34 35 11.7 PGRC019 30 31 8.34
PGRC006 22 23 0.9 PGRC006 35 36 5.05 PGRC019 31 32 1.01
PGRC006 23 24 0.11 PGRC006 36 37 1.04 PGRC019 32 33 0.35
PGRC006 24 25 0.12 PGRC006 37 38 1.3 PGRC019 33 34 0.31
PGRC006 25 26 0.27 PGRC006 38 39 2.65 PGRC019 34 35 0.23
PGRC006 26 27 0.17 PGRC006 39 40 1.33 PGRC019 35 36 1.51
PGRC006 27 28 0.15 PGRC006 40 41 1.06 PGRC019 36 37 0.42
PGRC006 28 29 0.16 PGRC006 41 42 1.51 PGRC019 37 38 0.35
PGRC006 29 30 0.64 PGRC006 42 43 0.88 PGRC019 38 39 0.47
PGRC006 30 31 0.75 PGRC006 43 44 0.44 PGRC019 39 40 0.16
PGRC006 31 32 0.92 PGRC006 44 45 0.31 PGRC019 40 41 0.19
PGRC006 32 33 17.9 PGRC006 45 46 0.11 PGRC019 41 42 0.12
PGRC006 0 1 0.29 PGRC006 46 47 0.65 PGRC019 42 43 0.1
PGRC006 1 2 0.32 PGRC006 47 48 0.66 PGRC019 43 44 0.01
PGRC006 2 3 0.11 PGRC006 48 49 0.52 PGRC019 44 45 0.04
PGRC006 3 4 0.16 PGRC006 49 50 0.38 PGRC019 45 46 0.02
PGRC006 4 5 0.16 PGRC019 0 1 0.27 PGRC019 46 47 0.04
PGRC006 5 6 0.11 PGRC019 1 2 0.84 PGRC019 47 48 0.03
PGRC006 6 7 0.05 PGRC019 2 3 0.22 PGRC019 48 49 0.05
PGRC006 7 8 0.07 PGRC019 3 4 1.11 PGRC019 49 50 0.01
PGRC006 8 9 0.12 PGRC019 4 5 0.38  
PGRC006 9 10 0.13 PGRC019 5 6 0.28
PGRC006 10 11 0.43 PGRC019 6 7 0.18
PGRC006 11 12 0.43 PGRC019 7 8 0.05
PGRC006 12 13 0.3 PGRC019 8 9 0.08

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