Monument Commences Exploration Drilling Program at Murchison Gold Project in Western Australia

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February 28, 2020 News Release Release #03 - 2020

Monument Commences Exploration Drilling Program

at Murchison Gold Project in Western Australia

Vancouver, B.C., February 28, 2020, Monument Mining Limited (TSX -V: MMY and FSE: D7Q1) (“Monument” or

the “Company”) is pleased to announce that it has commenced a 38 hole, 4,580 metre drilling program at its

100% owned Burnakura and Gabanintha gold projects in Western Australia. The objective of the program is to

test certain exploration targets identified through geological interpretation o f last year’s data collection, prior

years’ drilling results and structural geological studies.

The main focus of the drill program is to test down plunge extensions of existing high grade mineralization at

Alliance, New Alliance and NOA deposits at Mon ument’s Burnakura project, including the North of NOA7/8

(“NOA 9”) regional target, and at Yagahong at Monument’s Gabanintha project. The holes have been significantly

stepped out from existing drilling with the aim of making a major discovery that could b e mined underground.

Jun Cowan’s 3D structural study completed in 2019 , described in the news release dated September 30, 2019 ,

was used to help refine these drill targets. This drill program is a follow -up to the drill program carried out in

2018 that intersected 1.3m at 26.8g/t at Alliance in a hole that was drilled 170m down dip from existing

mineralization (news release dated August 7, 2018).

In addition, the program will include 920m of air core (AC) drilling to test the NOA 9 target. The NOA 9 target is

an under-explored area. The drilling is aimed to collect geological evidence as to whether it has continuity of

mineralization to the NOA cluster of deposits and whether further exploration is worthwhile in order to assess

the potential for repetition of NOA. NOA has gold resources defined in “Updated Mineral Resource, Burnakura

Project, Western Australia, Australia NI 43 -101 Technical Report” prepared by SRK Consulting in July 2018. It

historically produced over 149kOz of gold. NOA 9 have never be en explored, therefore t he potential

mineralization of NOA 9 described above is conceptual in nature and it is uncertain if further exploration will

result in the target being delineated as a mineral resource.

Details of the drill program are presented in Table 1.

Table 1: Drill Program Details

Drill Area Holes Meters

Burnakura Down Plunge Extension RC 12 3,080

Gabanintha Down Plunge Extension RC 3 580

Burnakura NOA 9 Regional Target AC 23 920

Total 38 4,580

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The drilling will take about 20 days to complete later March while samples would be sent to ALS lab and assay;

results are expected to be received by the end of April, 2020, which will be announced accordingly.

The drilling contract has been awarded to Kennedy Drilling, who will use a Schramm T685W Rotadrill to complete

approximately 3,660m of reverse circulation (RC) drilling and 920m of AC drilling. All samples will be assayed for

gold and selected samples for multi-element analysis at ALS Geochemistry, Malaga, Western Australia.

Burnakura Down Plunge Extension

A total of 12 holes for 3,080m have been planned to test down plunge extension of high grade mineralisation at

Alliance (1,005m), New Alliance (850m) and NOA (1,225m) (Figure 1). The Alliance mineralisation has a strong

lithology control and exhibits pronounced high grade continuity, and is a promising underground target. The

deepest hole of the whole program is planned for 350m final depth, targeting down plunge of the NOA 2

mineralisation, which has been previously mined by underground methods.

Figure 1, Plan view of Burnakura planned drill holes

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Gabanintha Down Plunge Extension

A total of 3 holes for 580m have been planned to test down plunge of the north -west plunging high grade

Yagahong mineralisation (figure 2).

Figure 2: Yagahong oblique view looking to the north-west.

Burnakura NOA 9 Regional Target

The AC drilling will comprise approximately 23 holes for 920m and has been designed to test the NOA 9 regional

target (figure 3). Three east-west lines spaced at 250m and 350m with 40m spaced holes are planned to be drilled.

The holes are planned to dip to the west. The NOA 9 target was identified by Dr. Warwick Crowe (see November 8,

2018 news release) as a potential NNW trending splay o ff the Burnakura shear zone with a similar structural

association of the NOA trend of deposits.

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Figure 3: Plan view of the NOA area showing collar location of planned AC holes.

The scientific and technical information in this press release has been reviewed and approved by Roger Stangler,

MEng, FAusIMM, MAIG, a Qualified Person as defined by NI43-101, retained by Golder Associates Pty Ltd.

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 and 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 8 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

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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 Media 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 (“for ward-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", "e stimates", "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

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 pr oduction and the estimated cash flows which 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 proj ects; assumptions regarding the future

price 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 expen ditures;

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 st atements.

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.