MMY.V · 2018-10-01 12:00:00

Monument Announces Shallow Oxide Drilling Program Results at Burnakura Gold Project

Exploration Programs

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October 01, 2018 News Release Release #16 - 2018

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

is pleased to announce encouraging results from 2,823m exploration drilling for 90 holes at the Burnakura

Property, which ha ve the potential to increase the Burnakura gold resources in near surface oxide. Additional

targets for extension and resource definition drilling were identified.

The shallow oxide program is one of three drilling programs completed successfully within two months in May

and June 2018 (refer to the news release dated May 8, 2018). The purpose of th e Reverse Circulation (“RC”)

Burnakura shallow oxide drilling program was to delineate high gra de shallow oxide material. Five target areas

were drilled: Three Stooges, Alliance West, FCL3, Lewis and Old Workings. All assay results have been

received, and high grade mineralization was intercepted at Three Stooges, Alliance West and Lewis areas.

Highlights

The shallow oxide program was successful with several significant intercepts hit at Lewis in particular. Alliance

West drilling show ed there is potential for a third prospective Banded Iron Formation ( “BIF”) mineralised

horizon.

Significant intercepts at Lewis are listed in Table 1. Appendix A is a list of individual significant intercepts for

Lewis, Alliance West and Three Stooges target areas.

Table 1: Significant intercept results (>= 2g/t Au) for Lewis Oxide Drilling

Area Hole_ID From To Length (m)* Sample Type Au (g/t)

LEWIS 18RCLE30 6 17 11 CHIPS 2.8

LEWIS 18RCLE14 8 17 9 CHIPS 3.6

LEWIS 18RCLE09 25 30 5 CHIPS 4.6

LEWIS 18RCLE28 7 10 3 CHIPS 8.8

*true mineralization widths are unknown

Lewis

The Lewis prospect makes part of the Burnakura gold deposits which are situated along a northeast trending

splay (Burnakura Shear Zone). It is located along the Federal City line which hosts gold mineralization at

Federal City, Authaal, Alliance, New Alliance and the North of Alliance (NOA) trend, all deposits covered in

the “NI 43 -101 Technical Report: Updated Mineral Resources, Burnakura Gold Project, Western Australia,

Australia” dated July 17, 2018 , prepared by SRK Consulting (Australasia) Pty Ltd. at w ww.sedar.com ,that

updated the Mineral Resources for Burnakura Property ( filed in 18 July 2018). The Lewis mineralisation is

hosted within quartz vein sets inside a granite host. Because of the erratic nature of the vein sets within the

granite, it is difficult to capture all the mineralization correctly with drilling.

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Lewis had several positive intercepts (see Table 1) and encouraging testwork results on an initial ore sorting trial

program. The collar locations for Lewis drilling are shown in Figure 1 and Figure 2 . The results will be

incorporated into a block model for geological modelling and potential further mining plan studies . Further

drilling is recommended.

Figure 1 – Collar location map for Lewis drilling

Figure 2 – Drilling collars for Lewis and areas for shallow oxide mineralization, next to existing historical pits

Reward

Pit

Lewis

Pit

Drill hole with

significant Intercepts

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Three Stooges

Three Stooges is a prospect that also makes part of the Burnakura gold deposits associated to the Burnakura

Shear Zone as Lewis. Three Stooges is a series of underground workings that were worked in the 1900’s.

Drilling directly under and along strike of these shallow workings produced encouraging results (Figure 3).

Several steeply dipping narrow mineralized shoots were defined (Figure 4) . Grades were reasonable but

averaged 1.5g/t Au. Drilling results will be incorporated into a resource block model for geological modelling

and potential further mining plan studies. There is potential for further mineralization increases at depth.

Figure 3 – Collar location map for Three Stooges drilling

Figure 4 – Drilling traces for Three Stooges and area for shallow oxide mineralization

Drill hole with

significant Intercepts

20m deep oxide

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Alliance West

Alliance and New Alliance (“ANA”) gold deposits were included in the “NI 43-101 Technical Report: Updated

Mineral Resources, Burnakura Gold Project, Western Australia, Australia” dated July 17, 2018 , prepared by

SRK Consulting (Australasia) Pty Ltd. at www.sedar.com, that updated the Mineral Resources for Burnakura

Property (filed in 18 July 2018). . The main controls for minerali zation at Alliance/New Alliance are competent

BIF horizons. Monument Surface mapping identified a BIF outcropping west of Alliance pit , being followed up

with some shallow RC drilling. The drilling successfully intersected the BIF and showed that is it weakly

mineralized (Figure 5). Projections of this BIF down dip forms a further exploration target (Figure 6). This target

is in addition to and much deeper than the previously announced (in August 2018) Alliance deep hole target

(18RCDDH10) 1.3m @ 26.8 g/t. It would essentially be a third major mineralization horizon. This needs to be

tested with a deep DD hole.

Figure 5 – Collar location map for Alliance West drilling

Drill hole with

significant Intercepts

Alliance

Pit

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Figure 6 – Long Section for Alliance West Prospect showing shallow oxide drilling and projection of the deep

extension of a BIF layer

The assays on samples from RC drill type were completed at ALS Labs in Perth, WA. The chip samples were

logged, sampled by the drill team, including employees and contractors at the drill site, at standard lengths of

1.0m, placed into sealed bags and shipped to ALS labs for sample preparation and assays; they were then being

analyzed for gold using FAOG_AAS assay method. Quality control procedures included the systematic insertion

of control samples such as blanks, duplicates and standards in the samples submitted to preparation and assaying.

The ALS labs also have a routine insertion of own quality control samples.

The shallow oxide drilling program was encouraging; motivating further drilling for this type of material that

should be conducted after the ongoing regional structural targeting study has been completed . The Lewis

material was the best performing oxide target, and as Three Stooges should be incorporated into block models

for geological modelling and further mining planning exercise. Further drilling is recommended t o deepen the

potential resource at both areas. Alliance West drilling shows there is potential for a third prospective BIF

horizon, and needs to be followed up with a deep DD hole. This will form part of the proposed Alliance follo w

up drill program.

The scientific and technical information in this press release has been prepar ed by Mark Lynch -Staunton,

MCSM, MAIG, M.Sc Mining Geology; and supervised and approved by Roger Stangler, MEng, MAusIMM,

MAIG, a Qualified Person as defined by NI43-101, both retained by Monument Mining Limited.

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

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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 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 ce rtain 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 result s 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. Ma terial

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 econo mic

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 assu mptions

described in the m anagement 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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Appendix A

Burnakura Shallow Oxide RC Drilling Campaign 2018: Significant Intercepts >= 1g/t Au

Area Hole ID From To Length (m)* Sample Type Au (g/t)

THREE STOOGES 18OXRCST09 14 15 1 CHIPS 1.15

THREE STOOGES 18OXRCST13 27 28 1 CHIPS 3.61

THREE STOOGES 18OXRCST13 29 30 1 CHIPS 2.62

THREE STOOGES 18OXRCST15 12 13 1 CHIPS 2.94

THREE STOOGES 18OXRCST15 13 14 1 CHIPS 4.08

THREE STOOGES 18OXRCST15 17 18 1 CHIPS 1.82

THREE STOOGES 18OXRCST20 13 14 1 CHIPS 1.20

THREE STOOGES 18OXRCST22 16 17 1 CHIPS 5.19

THREE STOOGES 18OXRCST25 8 9 1 CHIPS 1.81

THREE STOOGES 18OXRCST25 9 10 1 CHIPS 1.41

THREE STOOGES 18OXRCST29 17 18 1 CHIPS 1.37

THREE STOOGES 18OXRCST29 18 19 1 CHIPS 1.19

THREE STOOGES 18OXRCST30 12 13 1 CHIPS 1.10

THREE STOOGES 18OXRCST30 16 17 1 CHIPS 1.81

ALLIANCE WEST 18AWRC02 16 17 1 CHIPS 1.23

ALLIANCE WEST 18AWRC03 22 23 1 CHIPS 1.21

ALLIANCE WEST 18AWRC08 9 10 1 CHIPS 2.90

ALLIANCE WEST 18AWRC08 12 13 1 CHIPS 1.15

LEWIS 18RCLE02 5 6 1 CHIPS 3.11

LEWIS 18RCLE03 23 24 1 CHIPS 1.57

LEWIS 18RCLE03 28 29 1 CHIPS 6.99

LEWIS 18RCLE03 29 30 1 CHIPS 2.62

LEWIS 18RCLE07 2 3 1 CHIPS 8.63

LEWIS 18RCLE08 25 26 1 CHIPS 1.30

LEWIS 18RCLE08 29 30 1 CHIPS 2.01

LEWIS 18RCLE09 25 26 1 CHIPS 17.15

LEWIS 18RCLE09 27 28 1 CHIPS 1.12

LEWIS 18RCLE09 28 29 1 CHIPS 2.82

LEWIS 18RCLE09 29 30 1 CHIPS 1.01

LEWIS 18RCLE10 22 23 1 CHIPS 1.26

LEWIS 18RCLE10 25 26 1 CHIPS 1.12

LEWIS 18RCLE13 5 6 1 CHIPS 1.13

LEWIS 18RCLE13 14 15 1 CHIPS 1.13

LEWIS 18RCLE14 8 9 1 CHIPS 1.05

*approximate true mineralization width

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Appendix A (continued)

Burnakura Shallow Oxide RC Drilling Campaign 2018: Significant Intercepts >= 1g/t Au

Area Hole_ID From To Length (m)* Sample Type Au (g/t)

LEWIS 18RCLE14 9 10 1 CHIPS 3.44

LEWIS 18RCLE14 10 11 1 CHIPS 1.91

LEWIS 18RCLE14 12 13 1 CHIPS 1.23

LEWIS 18RCLE14 13 14 1 CHIPS 1.05

LEWIS 18RCLE14 15 16 1 CHIPS 18.35

LEWIS 18RCLE14 16 17 1 CHIPS 2.01

LEWIS 18RCLE15 5 6 1 CHIPS 2.51

LEWIS 18RCLE16 5 6 1 CHIPS 1.46

LEWIS 18RCLE16 7 8 1 CHIPS 1.07

LEWIS 18RCLE16 8 9 1 CHIPS 1.21

LEWIS 18RCLE16 20 21 1 CHIPS 3.69

LEWIS 18RCLE25 16 17 1 CHIPS 1.04

LEWIS 18RCLE26 18 19 1 CHIPS 3.04

LEWIS 18RCLE26 23 24 1 CHIPS 3.03

LEWIS 18RCLE27 12 13 1 CHIPS 4.13

LEWIS 18RCLE27 15 16 1 CHIPS 1.63

LEWIS 18RCLE27 22 23 1 CHIPS 4.28

LEWIS 18RCLE27 23 24 1 CHIPS 7.53

LEWIS 18RCLE28 7 8 1 CHIPS 17.8

LEWIS 18RCLE28 8 9 1 CHIPS 7.21

LEWIS 18RCLE28 9 10 1 CHIPS 1.37

LEWIS 18RCLE30 1 2 1 CHIPS 1.65

LEWIS 18RCLE30 6 7 1 CHIPS 2.68

LEWIS 18RCLE30 7 8 1 CHIPS 2.67

LEWIS 18RCLE30 8 9 1 CHIPS 1.24

LEWIS 18RCLE30 9 10 1 CHIPS 2.98

LEWIS 18RCLE30 10 11 1 CHIPS 3.53

LEWIS 18RCLE30 11 12 1 CHIPS 3.18

LEWIS 18RCLE30 12 13 1 CHIPS 6.75

LEWIS 18RCLE30 13 14 1 CHIPS 2.18

LEWIS 18RCLE30 14 15 1 CHIPS 2.47

LEWIS 18RCLE30 15 16 1 CHIPS 2.26

LEWIS 18RCLE30 16 17 1 CHIPS 1.26

LEWIS 18RCLE30 19 20 1 CHIPS 1.00

LEWIS 18RCLE30 21 22 1 CHIPS 1.09

LEWIS 18RCLE30 24 25 1 CHIPS 1.01

LEWIS 18RCLE31 7 8 1 CHIPS 1.59

LEWIS 18RCLE31 26 27 1 CHIPS 1.01

LEWIS 18RCLE33 10 11 1 CHIPS 6.46

*true mineralization widths are unknown

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