MMY.V · 2018-10-22 12:00:00

Monument Announces NI43-101 Mineral Resource Update at the Mengapur Property, Peninsular Malaysia

Resource Estimates

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October 22, 2018 News Release Release #18, 2018

Vancouver, B.C. Monument Mining Limited (TSX -V: MMY and FSE: D7Q1) ("Monument" or the "Company") is

pleased to announce a Mineral Resource estimate update for the Mengapur property in the region of Maran,

Central Belt of the Malay Peninsula , State of Pahang, Malaysia (Figure 1). This Resource statement has been

included in “Mineral Resource Estimate for the Mengapur Cu-Au Deposit, NI43-101 Technical Report” (the “NI43-

101 Technical Report”) and expected to be filed shortly under www.sedar.com.

Figure 1. Mengapur location map showing regional gold belts

(modified from Yeap, 1993)

The NI43-101 Technical Report was prepared by independent consultants, Snowden Mining Industry Consultants

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Pty Ltd (“Snowden”) in accordance with the requirements of National Instrument 43 -101 (“NI 43 -101”). The

Mengapur Copper-Gold Project is 100% owned by Monument Mining Limited through its holding company

Monument Mengapur Sdn. Bhd. (“MMSB”) in Malaysia.

President and CEO Cathy Zhai commented: “We are excited to announce these resources that have brought the

historical resources up to date positively under NI43 -101 standards. The Company intends to advance the

Mengapur Project focusing on copper first with by-products of gold and silver through further feasibility studies.”

Highlights

 The Mengapur Cu -Au project has an intermittent history of mining, hav ing been exploited for both

magnetite oxide iron ore and copper.

 Drilling has identified a continuou s zone of copper and gold mineralization associated with skarn

alteration around an adamellite intrusive body.

 The project has been drilled using diamond core drilling down to a nominal spacing of approximately

40m by 40 m in a significant portion of the project area. The 2018 Mineral Resource estimate has

incorporated a total of approximately 112,000 m completed to date, of which nearly 53,000m were

completed by Monument between 2011 and 2014. Drilling primarily comprises diamond core drilling,

with some minor RC drilling.

 The geological interpretation has considered all known material items and represents an accurate

reflection of the c urrent geological understanding, of the copper oxide, transition and sulphide skarn

type mineralization.

 A total of 39. 5 Mt @ 0.43% Cu and 0.18 g/t Au of Indicated Mineral Resources, along with 50.9 Mt @

0.44% Cu and 0.11 g/t Au of Inferred Mineral Resources, reported above a 0.3% Cu cut-off grade, at the

Mengapur property were estimated by independent mining industry consultants Snowden using

ordinary kriging.

 To increase confidence in the Inferred portions of the Mineral Resource estimate, additional infill drilling

will be required.

 Metallurgical testing of mineralised oxide, transition al and sulphide samples has been carried out.

Results for oxide and transitional samples suggest some acid leachable copper is present in these

materials. The sulphide material tested has been shown to be amenable t o copper sulphide

concentration, while achieving modest metal recovery . Potential for by -product precious metal is

apparent, but needs further assessment.

 The Mineral Resource estimate, together with the current metallurgical testwork will provide a solid

foundation to develop a feasibility study in the near future.

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

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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

g/t

Contained

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

g/t

Contained

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 demonst rated economic viability.

(5) Mineral Resources estimated by John Graindorge (Principal Consultant, Snowden), QP.

(6) The majority of the interpreted mineralization is within 200 m of the surface and as such considered by

Snowden to be within the limits of extraction by open-pit mining.

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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

g/t

Contained

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

g/t

Contained

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 demons trated economic viability.

(5) Mineral Resources estimated by John Graindorge (Principal Consultant, Snowden), QP.

(6) The majority of the interpreted mineralization is within 200 m of the surface and as such considered by

Snowden to be within the limits of extraction by open-pit mining.

Follow-up on Mengapur Project

The following work is recommended by Snowden:

 Additional metallurgical testwork on oxide, transitional and sulphide samples to optimize the copper

recovery and improve the quality of the copper concentrates, together with geotechnical assessment s

and potential additional drilling, supported by economic studies , will be used as a basis for a future

feasibility study.

 Further structural studies should be contemplated to enhance the geological understanding of the

mineralization controls and geological interpretation.

 Potential fo r the recovery of by -product metals including gold, silver and possibly molybdenum or

bismuth will be investigated, together with the assessment of magnetite iron ore oxide opportunities.

The scientific and technical information in this press release has been compiled by Roger Stangler, MEng,

MAusIMM, MAIG, Chief Managing Geologist, Monument Mining Limited; and reviewed and approved by John

Graindorge (Principal Consultant, Snowden) , BSc(Hons), Gard. Cert. Geostatistics, MAusIMM(CP), who is an

Independent Qualified Person as defined by NI43-101.

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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 19 5 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]

Wolfgang Seybold, Axino GmbH T: +49 711-82 09 7211 [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 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 propo sed 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 n ews release are

subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materiall y 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 curren t 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 whic h 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 pro jects;

assumptions regarding the future pri ce 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.

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