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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)

 Category OXIDE (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
kTonnes g/t Au (kOz) kTonnes g/t Au (kOz) kTonnes g/t Au (kOz) kTonnes g/t Au (kOz)
Mineral Resources, reported inclusive of Reserves (based on a potential US$2,400/oz gold price)
Measured* 1,265 0.47 19 - - - 45 1.53 2 1,310 0.51 21
Indicated** 1,533 0.85 42 1,086 1.49 52 8,052 1.60 415 10,671 1.48 509
M+I 2,798 0.68 61 1,086 1.49 52 8,097 1.60 417 11,981 1.38 530
Inferred*** 349 1.05 12 485 1.22 19 5,563 1.79 319 6,397 1.70 350

*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)

Category OXIDE (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
kTonnes g/t Au (kOz) kTonnes g/t Au (kOz) kTonnes g/t Au (kOz) kTonnes g/t Au (kOz)
Mineral Reserves (based on a US$1,300/oz gold price)
Proven* 1,265 0.47 19 - - - 45 1.53 1,310 0.51  21 
Probable** 991 0.91 29 757 1.72 42 2,680 2.03 175 4,428 1.73  246 
P+P 2,256 0.67 48  757 1.72 42  2,725 2.02 177  5,738 1.45  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 category Lower cut-off
(Au g/t)
Tonnes (Kt) Grade
(Au g/t)
Metal
(koz Au)
Indicated 0.5 1,030 2.1 68
Inferred 0.5 609 2.3 44

Table E-2:          NOA7–8 Mineral Resource estimate

Resource category Lower cut-off
(Au g/t)
Tonnes (Kt) Grade
(Au g/t)
Metal
(koz Au)
Indicated 3.0 776 4.6 114
Inferred 3.0 35 3.9 4

Table E-3:          ANA Mineral Resource estimate

Resource category Lower cut-off
(Au g/t)
Tonnes (Kt) Grade
(Au g/t)
Metal
(koz Au)
Indicated 0.5 2,141 1.6 107
Inferred 0.5 92 1.5 4

Table E-4:          Authaal Mineral Resource estimate

Resource category Lower cut-off
(Au g/t)
Tonnes (Kt) Grade
(Au g/t)
Metal
(koz Au)
Inferred 0.5 556 1.4 25

Table E-5:          Federal City – Mineral Resource estimate

Resource category Lower cut-off
(Au g/t)
Tonnes (Kt) Grade
(Au g/t)
Metal
(koz Au)
Indicated 0.5 96 1.3 4
Inferred 0.5 259 1.3 11

(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

Project Category kTonnes Au(g/t) Au (kOz) Source
ANA Indicated 583 2.3 44 Golders Jan 2013 (brn_OK_1301.fbm) Updated Mineral Resources for Alliance and New Alliance Deposits
Inferred 403 2.4 31
Federal City Indicated       H&S May 2011 (authaal_gda.mdl) Burnakura Resource Estimates H&S_May 2011
Inferred 190 2.7 16
NOA1 Indicated 100 3.0 10 Golders Sept 2013 (brn_1013_ok.fbm) Burnakura deposit Resource Estimation - NOA 1 and 2
Inferred                                 10 1.6 0.5
NOA2 Indicated 637 4.8 98 Golders Sept 2013(brn_1013_ok.fbm) Burnakura deposit Resource Estimation - NOA 1 and 2
Inferred 118 6.3 24
NOA4 Indicated       H&S May 2011 (noa_hs_2011.mdl) Burnakura Resource Estimates H&S_May 2011
Inferred 140 1.9 9
NOA6 Indicated       H&S May 2011 (noa_hs_2011.mdl) Burnakura Resource Estimates H&S_May 2011
Inferred 113 1.8 7
NOA7&8 Indicated                           1,032 2.9 96 BMGS Sept 2012 (noa78.mdl) BMGS Resource Report NOA 7-8
Inferred 265 3.1 27
Lewis Indicated 113 2.2 8 BMGS sept 2012 (lewis1206.mdl) BMGS Resource Report -Lewis
Inferred    57 2.0 4
Authaal Indicated       H&S May 2011 (authaal_gda.mdl) Burnakura Resource Estimates H&S_May 2011
Inferred 440 2.0 28
Banderol Indicated       H&S May 2011 (banderol_hsgda2011.mdl) Burnakura Resource Estimates H&S_May 2011.
Inferred 200 1.5 10
TOTAL - BURNAKURA Indicated 2,465 3.2 255  
Inferred 1,935 2.5 155  

Gabanintha

JORC Historical Mineral Resource, at 1.0 g/t Au

Project Category kTonnes Au(g/t) Au (kOz) Source
Tumblegum Indicated       BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred 60 1.8 3
Canterbury Indicated       BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred 500 1.7 27
Terrels Indicated       BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred 700 1.8 41
Yagahong Indicated       BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred 50 1.5 2
Yagahong North Inferred       BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred 800 2.9 75
Golden Hope North Indicated       BMGS - Gabanintha Resource Report - (not completed), 2013
Inferred 100 1.5 5
TOTAL - GABANINTHA Indicated        
Inferred 2,210 2.16 153

Tuckanarra

JORC Historical Mineral Resource, at 1.0 g/t Au

Project Category kTonnes Au(g/t) Au (kOz) Source
Anchor Laterite Indicated 17 1.4 1 Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred 22 1.2 1
Bollard Laterite Indicated 37 1.5 2 Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred 97 1.3 4
Cable Central Indicated 45 1.7 2 Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred 16 1.3 1
Cable East Indicated 240 2.3 18 Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred 59 1.9 4
Cable West Indicated 49 2.4 4 Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred 61 3.0 6
Cable West (High Grade) Indicated 3 54.0 5 Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred      
Drogue Laterite Indicated 120 1.4 5 Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred 37 1.2 1
Lucknow Indicated 11 1.7 1 Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred 71 1.5 3
Maybelle Indicated 70 2.8 6 Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred 48 2.3 4
Maybelle North Indicated 5 3.0 1 Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred 92 2.2 7
Miners Dream Indicated       Ravensgate, Tuckanara Resource Report (Finmod_tuck.dm) Nov 2012
Inferred 63 2.8 6
TOTAL -TUCKANARRA Indicated 597 2.3 45  
Inferred 566 2.0 36  

Malaysia-Mengapur Polymetallic Resources

Historical Resources

The Mengapur Polymetallic deposit in Pahang State, Malaysia contains a historical Copper (Cu), Sulfur (S), Gold (Au), Silver (Ag) oxide and sulphide Resource from a drilling campaign conducted in the 1980’s as reported in the “NI 43-101 Technical Report, Mengapur Project (Amended) (Snowden, January 2012)” at www.sedar.com. The historical Resource consists of 224 million tonnes (mt) averaging 0.597% Cu equivalent (eqv) (6.54% S, 0.25% Cu, 0.16g/t Au, and 8.86g/t Ag) at a cut-off grade of 0.336% Cu eqv cut-off grade. A historical sulphide Reserve consists of 64.8 mt averaging 0.737% Cu eqv (8.63% S, 0.27% Cu, 0.21g/t Au, and 2.59a/t Ag) at the same 0.336% Cu eqv cut-off grade (Snowden, 2012).

In preparing the Snowden Report, Snowden has reviewed the 10-volume study completed in 1990 by Normet Engineering Pty. Ltd., Australia, (the “Historical Study”) and the Company has received the results of such review. The information in the Historical Study was a result of 10 years of work at an estimated cost of approximately US$40 million that included over 58,000 m of diamond drilling. The exploration program in the 1980’s was carried out by Malaysian Mining Corporation, a Malaysian government owned corporation.

Mengapur Project Historical Resource estimate as of October 1990 using a 0.336% Equivalent Cu cutoff grade.

Historical Resources Tonnes
(Million t)
EQV
Cu (%)
S
(%)
Cu
(%)
Au
(g/t)
Ag(g/t)
Oxide Measured 4.866 0.419 0 0.47 0.05 27.82
Indicated 16.406 0.557 0 0.64 0.12 26.45
Subtotal 21.272 0.525 0 0.60 0.10 26.70
Sulfide Measured 63.438 0.661 7.622 0.25 0.18 3.30
Indicated 139.699 0.579 7.040 0.19 0.13 3.85
Subtotal 203.137 0.605 7.222 0.21 0.15 3.68
Total 224.409 0.597 6.54 0.25 0.16 8.86

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