Monument Announces Closing of Transaction to Sell the Mengapur Project in Malaysia
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April 08, 2021 News Release Release #07- 2021
Monument Announces Closing of Transaction to Sell the Mengapur Project in Malaysia
Vancouver, B.C., April 08, 202 1, Monument Mining Limited (TSX -V: MMY and FSE: D7Q1) (“Monument” or the
“Company”) is pleased to announce the closing of the Transaction with Fortress Minerals Limited (“Fortress”) to sell
Fortress a 100% interest in its Malaysian subsidiary, Monument Mengapur Sdn Bh d, which owns a 100% interest in the
Mengapur Copper and Iron Project (the “Mengapur Project”).
The Mengapur Project is located in Pa hang State, approximately 75km northwest from Kuantan. The sale of the Mengapur
Project is part of Monument’s corporate restructuring to focus on the development of their gold projects in Malaysia and
Western Australia.
Monument has received US$3 0 million cash consideration in full. Under t he terms of the Sale and Purchase Agreement
Monument is entitled to a royalty of 1.25% of gross revenue on all products produced at the Mengapur Project.
A finder’s fee in the amount of US$600,000 was paid out from the gross proceeds . The net proceeds from the Transaction
shall be used for corporate and gold projects development.
About Monument
Monument Mining Limited (TSX -V: MMY, FSE: D7Q1) is an established Canadian gold producer that operates the 100%
owned 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 and Iron Project, in Pahang State of Malaysia, and the
Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of We stern Australia.
The Company employs approximately 200 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 [email protected]
"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 inc ludes 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 availab le 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 generat ed from the operations,
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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 estimat ed 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 S EDAR 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. According ly,
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.