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Resources & Reserves

Malaysia-Selinsing Gold Mine Current Resources & Reserves - January 2019

The Company filed a report titled “Selinsing Gold Sulphide Project-NI 43-101” (“the 2019 FS”) at www.sedar.com and prepared by Snowden Mining Industry Consultants Pty Ltd (“Snowden”) January 31, 2019, describing the mineral exploration, development and production area of the Selinsing Gold Mine. Mineral Reserves and Mineral Resources were estimated by Snowden as Independent qualified person defined under NI 43-101 standards.

Tables 1 & 2 below summarize the estimated Mineral Reserves and Mineral Resources by area and ore type, all expressed in metric tonnes and Troy ounces (1 ounce = 31.1035 g).

Table 1: Selinsing-Buffalo Reef/Felda Mineral Resources as of March 31, 2018 (Snowden)

 CategoryOXIDE (above 0.3 g/t Au cut-off)TRANSITION (above 0.5 g/t Au cut-off)SULPHIDE (above 0.5 g/t Au cut-off)OXIDE + TRANSITION + SULPHIDE
kTonnesg/tAu (kOz)kTonnesg/tAu (kOz)kTonnesg/tAu (kOz)kTonnesg/tAu (kOz)
Mineral Resources, reported inclusive of Reserves (based on a potential US$2,400/oz gold price)
Measured*1,2650.4719---451.5321,3100.5121
Indicated**1,5330.85421,0861.49528,0521.6041510,6711.48509
M+I2,7980.68611,0861.49528,0971.6041711,9811.38530
Inferred***3491.05124851.22195,5631.793196,3971.70350

*Measured Resource is entirely stockpile material; Indicated and Inferred Resource comprises in situ material occurring in Selinsing and Buffalo Reef/Felda deposits; **Indicated Oxide Resource is a combination of in situ oxide material occurring in Selinsing and Buffalo Reef/Felda deposits plus Selinsing Old Tailings material; Indicated Transition and Sulphide Resource comprises in situ material occurring in Selinsing and Buffalo Reef/Felda deposits ; ***Inferred Resource comprises in situ material occurring in Selinsing and Buffalo Reef/Felda deposits

Table 2: Selinsing-Buffalo Reef/Felda Reserves as of March 31, 2018 (Snowden)

CategoryOXIDE (above approx. 0.4 g/t Au cut-off)TRANSITION (above approx. 0.75 g/t Au cut-off)SULPHIDE (above approx. 0.75 g/t Au cut-off)OXIDE + TRANSITION + SULPHIDE
kTonnesg/tAu (kOz)kTonnesg/tAu (kOz)kTonnesg/tAu (kOz)kTonnesg/tAu (kOz)
Mineral Reserves (based on a US$1,300/oz gold price)
Proven*1,2650.4719---451.531,3100.51 21 
Probable**9910.91297571.72422,6802.031754,4281.73 246 
P+P2,2560.6748 7571.7242 2,7252.02177 5,7381.45 267 

*Proven Reserve is entirely stockpile material; **Probable Oxide Reserve is a combination of in situ oxide material occurring in Selinsing and Buffalo Reef/Felda deposits plus Selinsing Old Tailings material; Probable Transition and Sulphide Reserve comprises in situ material occurring in Selinsing and Buffalo Reef/Felda deposits

The 2019 Selinsing and Buffalo Reef/Felda Mineral Resources were updated by John Graindorge, an employee of Snowden, who is the independent Qualified Person for the March 31, 2018 Mineral Resources as defined by NI 43-101. The 2019 Selinsing and Buffalo Reef/Felda Mineral Reserves were estimated by Frank Blanchfield, an employee of Snowden, who is the independent Qualified Person for the March 31, 2018 Mineral Reserves as defined by NI 43-101.

Recommendations

The opportunity to include inferred resources was also discussed in the Feasibility Study. The Inferred Mineral Resource inside the Reserve open pit designs potentially contains an additional 20 koz of gold. The Inferred Mineral Resource external to the open pit design contains 130 koz of gold. Recommendations have been suggested to initiate further exploration programs, aimed on conversion of Inferred Mineral Resources to Indicated Mineral Resources. Should those conversions be successful, the Mineral Reserves could potentially be significantly increased. The Selinsing Gold Mine has a proven record in converting oxide Inferred Mineral Resources to recovered ounces.

Western Australia- Murchison Gold Resources

Current Resources-Burnakura-July 2018

The Company filed a report titled “NI 43-101 Technical Report-Updated Mineral Resources, Burnakura Gold Project, Western Australia, Australia at www.sedar.com and prepared by SRK Consulting (Australasia) Pty Ltd (“SRK”) July 18 2018. Monument has focused work on updating and validating the historical resources at the Burnakura project into current resources under NI43-101 guidelines. To date this has resulted in the update of the deposits of Alliance and New Alliance (“ANA”); North of Alliance 1 to 8 (NOA); Federal City; and Authaal into current resource status.

Table E1-5 below shows a breakdown of the 2018 Mineral Resource estimates that make up the Burnakura project:

Table E-1:          NOA 1–6 – Mineral Resource estimate

Resource categoryLower cut-off
(Au g/t)
Tonnes (Kt)Grade
(Au g/t)
Metal
(koz Au)
Indicated0.51,0302.168
Inferred0.56092.344

Table E-2:          NOA7–8 Mineral Resource estimate

Resource categoryLower cut-off
(Au g/t)
Tonnes (Kt)Grade
(Au g/t)
Metal
(koz Au)
Indicated3.07764.6114
Inferred3.0353.94

Table E-3:          ANA Mineral Resource estimate

Resource categoryLower cut-off
(Au g/t)
Tonnes (Kt)Grade
(Au g/t)
Metal
(koz Au)
Indicated0.52,1411.6107
Inferred0.5921.54

Table E-4:          Authaal Mineral Resource estimate

Resource categoryLower cut-off
(Au g/t)
Tonnes (Kt)Grade
(Au g/t)
Metal
(koz Au)
Inferred0.55561.425

Table E-5:          Federal City – Mineral Resource estimate

Resource categoryLower cut-off
(Au g/t)
Tonnes (Kt)Grade
(Au g/t)
Metal
(koz Au)
Indicated0.5961.34
Inferred0.52591.311

(1) Small discrepancies may occur due to rounding.
(2) All Mineral Resources have been reported on a dry tonnage basis.
(3) SRK is unaware of any issues that materially affect the Mineral Resources in a detrimental sense.
(4) Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
(5) Mineral Resources estimated by David Slater (Principal Consultant, SRK), QP.
(6) Open pit Resources (NOA1-6, ANA, Authaal, Federal City) are constrained in a Lerchs Grossman pit shell, Underground    Resources (NOA7-8) are constrained to >3g/t and 200m vertical depth.

Murchison Historical Resources
The Murchison portfolio contained historical resources of 644koz at the time of acquisitions. Monument is systematically performing all the necessary work to convert and validate these historical resources into current resources under NI43-101 guidelines.  A breakdown of the historical resources is detailed in the table below.

Burnakura

JORC Historical Mineral Resource, at 1.0 g/t Au

ProjectCategorykTonnesAu(g/t)Au (kOz)Source
ANAIndicated5832.344Golders Jan 2013 (brn_OK_1301.fbm) Updated Mineral Resources for Alliance and New Alliance Deposits
Inferred4032.431
Federal CityIndicated   H&S May 2011 (authaal_gda.mdl) Burnakura Resource Estimates H&S_May 2011
Inferred1902.716
NOA1Indicated1003.010Golders Sept 2013 (brn_1013_ok.fbm) Burnakura deposit Resource Estimation - NOA 1 and 2
Inferred                                101.60.5
NOA2Indicated6374.898Golders Sept 2013(brn_1013_ok.fbm) Burnakura deposit Resource Estimation - NOA 1 and 2
Inferred1186.324
NOA4Indicated   H&S May 2011 (noa_hs_2011.mdl) Burnakura Resource Estimates H&S_May 2011
Inferred1401.99
NOA6Indicated   H&S May 2011 (noa_hs_2011.mdl) Burnakura Resource Estimates H&S_May 2011
Inferred1131.87
NOA7&8Indicated                          1,0322.996BMGS Sept 2012 (noa78.mdl) BMGS Resource Report NOA 7-8
Inferred2653.127
LewisIndicated1132.28BMGS sept 2012 (lewis1206.mdl) BMGS Resource Report -Lewis
Inferred   572.04
AuthaalIndicated   H&S May 2011 (authaal_gda.mdl) Burnakura Resource Estimates H&S_May 2011
Inferred4402.028
BanderolIndicated   H&S May 2011 (banderol_hsgda2011.mdl) Burnakura Resource Estimates H&S_May 2011.
Inferred2001.510
TOTAL - BURNAKURAIndicated2,4653.2255 
Inferred1,9352.5155 

Gabanintha

JORC Historical Mineral Resource, at 1.0 g/t Au

ProjectCategorykTonnesAu(g/t)Au (kOz)Source
TumblegumIndicated   BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred601.83
CanterburyIndicated   BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred5001.727
TerrelsIndicated   BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred7001.841
YagahongIndicated   BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred501.52
Yagahong NorthInferred   BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred8002.975
Golden Hope NorthIndicated   BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred1001.55
TOTAL - GABANINTHAIndicated    
Inferred2,2102.16153

Tuckanarra

JORC Historical Mineral Resource, at 1.0 g/t Au

ProjectCategorykTonnesAu(g/t)Au (kOz)Source
Anchor LateriteIndicated171.41Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred221.21
Bollard LateriteIndicated371.52Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred971.34
Cable CentralIndicated451.72Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred161.31
Cable EastIndicated2402.318Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred591.94
Cable WestIndicated492.44Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred613.06
Cable West (High Grade)Indicated354.05Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred   
Drogue LateriteIndicated1201.45Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred371.21
LucknowIndicated111.71Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred711.53
MaybelleIndicated702.86Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred482.34
Maybelle NorthIndicated53.01Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred922.27
Miners DreamIndicated   Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred632.86
TOTAL -TUCKANARRAIndicated5972.345 
Inferred5662.036 

Malaysia-Mengapur Mineral Resources

Current Resources-Mengapur-October 2018

Table 1 below presents the 2018 Mineral Resource estimate for the Mengapur project, reported above a 0.3% Cu. To establish the requirement for the grade, quantity and quality of the mineralization to have reasonable prospects of eventual economic extraction, a cut-off grade of 0.3% Cu was selected, representing an assumption of an open-pit mining approach with limited selectivity and is based on values used at other similar deposits, along with consideration of the continuity above the cut-off grade. The cut-off grade of 0.3% Cu is considered by Monument to be the base case scenario at this stage; however further study is required to assess mining and processing options, along with costs.

Table 1. Mengapur August 2018 Mineral Resource estimate (0.3% Cu lower cut-off)

Indicated Mineral Resource

Material type

Tonnes
Mt

Cu
%

Au
g/t

Ag
g/t

Contained
Cu
t

Contained
Au
oz

Contained
Ag
oz

Oxide

6.3

0.45

0.17

9.7

28,300

34,000

1,960,000

Transitional

9.7

0.48

0.15

9.8

46,800

47,000

3,060,000

Fresh

23.5

0.41

0.21

4.5

96,400

159,000

3,400,000

Total Indicated

39.5

0.43

0.18

6.6

170,000 

229,000 

8,380,000 

Inferred Mineral Resource

Type

Tonnes
Mt

Cu
%

Au
g/t

Ag
g/t

Contained
Cu
t

Contained
Au
oz

Contained
Ag
oz

Oxide

15.5

0.41

0.06

19.1

63,600

29,900

9,520,000

Transitional

12.0

0.50

0.10

17.0

60,000

38,600

6,560,000

Fresh

23.4

0.43

0.14

6.9

100,600

105,300

5,190,000

Total Inferred

50.9

0.44

0.11 

13.0

224,000 

180,000 

21,270,000 

(1) Small discrepancies may occur due to rounding.
(2) All Mineral Resources have been reported on a dry tonnage basis.
(3) Snowden is unaware of any issues that materially affect the Mineral Resources in a detrimental sense.
(4) Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
(5) Mineral Resources estimated by John Graindorge (Principal Consultant, Snowden), QP.
(6) The majority of the interpreted mineralization is within 200m of the surface and as such considered by Snowden to be within the limits of extraction by open-pit mining.

A sensitivity analysis reflecting a possible selective approach to eventual economic extraction at a higher cut-off grade of 0.5% Cu is disclosed in Table 2 below:

Table 2. Mengapur August 2018 Mineral Resource estimate (0.5% Cu lower cut-off)

Indicated Mineral Resource

Material type

Tonnes
Mt

Cu
%

Au
g/t

Ag
g/t

Contained Cu
t

Contained Au
oz

Contained Ag
oz

Oxide

1.3

0.72

0.12

12.3

9,400

5,000

510,000

Transitional

3.2

0.67

0.13

12.1

21,400

13,400

1,240,000

Fresh

3.6

0.61

0.22

5.7

22,000

25,500

660,000

Total Indicated

8.1

0.65

0.16 

9.3 

52,700 

41,700 

2,420,000 

Inferred Mineral Resource

Type

Tonnes
Mt

Cu
%

Au
g/t

Ag
g/t

Contained
Cu
t

Contained
Au
oz

Contained
Ag
oz

Oxide

2.3

0.63

0.07

17.1

14,500

5,200

1,260,000

Transitional

3.7

0.75

0.17

12.2

27,800

20,200

1,450,000

Fresh

4.4

0.66

0.14

10.1

29,000

19,800

1,430,000

Total Inferred

10.5 

0.68 

0.14 

12.4 

71,400 

47,300 

4,190,000 

(1) Small discrepancies may occur due to rounding.
(2) All Mineral Resources have been reported on a dry tonnage basis.
(3) Snowden is unaware of any issues that materially affect the Mineral Resources in a detrimental sense.
(4) Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
(5) Mineral Resources estimated by John Graindorge (Principal Consultant, Snowden), QP.
(6) The majority of the interpreted mineralization is within 200m of the surface and as such considered by Snowden to be within the limits of extraction by open-pit mining.


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