Monument Entered into a Collaboration Agreement Gives Odyssey Access to Burnakura Mill
April 14, 2025 News Release Release #03- 2025
MONUMENT ENTERED INTO A COLLABORATION AGREEMENT
GIVES ODYSSEY ACCESS TO BURNAKURA MILL
Vancouver, B.C., April 14, 2025, Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) (“Monument” or the “Company”)
is pleased to announce the signing of a Memorandum of Understanding (“MOU” or “Collaboration Agreement”) with
Odyssey Gold Limited (ASX: ODY) (“Odyssey”), through their respective subsidiaries. The agreement outlines a
collaboration opportunity to process ore from the Tuckanarra Gold Project (“Tuckanarra”) through Monument’s Burnakura
Mill, located near Meekatharra, Western Australia, subject to availability.
Under the existing joint venture arrangement, Monument holds a 20% free carrying interest in Tuckanarra, with Odyssey
owning the remaining 80%. The Tuckanarra project is situated approximately 40 km southwest of Monument’s Burnakura
gold processing plant in the Murchison Goldfield (Figure 1).
Figure 1: Murchison Gold Field
President and CEO Cathy Zhai
commented “I am very pleased with
the execution of this MOU with
Odyssey, which aligns with
Monument’s development strategy
to enhance production potential in
the M urchison region. As junior
companies continue to navigate the
inherent challenges and risks in the
Natural Resource industry, this
collaboration represents a win -win
opportunity and a business model
which may expand the potential
mine life of the Murchison Gold
Project, accelerate capital returns,
and enhance free cash flow. It will
also support exploration
companies’ direct access to cash
resources without large dilution for
advancement of gold discoveries
within this prolific Murchison
Goldfield.”
Ms. Zhai added “Odyssey is our
joint venture partner at Tuckanarra.
By integrating Tuckanarra’ s
potential ore into our mine plan, we
could potentially increase our
production portfolio by up to 20%
of Tuckanarra resources and
improve the utilization of ou r mill
capacity. Sharing technical studies
and exploring this collaboration
may lead to optimized production
and resource exploration that
benefits both parties.”
Ms. Zhai further emphasized : “ In parallel, Monument remains committed to its independent technical Study with SRK
Consulting and continues preparation efforts toward the potential launch of its Murchison production initiative.”
Background
Following the successful commercial production of the upgraded sulphide gold concentrate plant at Selinsing Gold Mine ,
Monument is now advancing its Murchison Gold Project towards potential commercial production . SRK Consulting
(Australasia) Pty Ltd (“SRK”) is currently engaged to provide economic assessments, including evaluating the Burnakura
mill capacity for initial re-start and potential upgrade options up to 750K tpa. With a proven track record for developing and
advancing operating mines, Monument continues to leverage its strong production management team to drive growth and
efficiency.
Monument has an estimated Mineral Resource of 5.59Mt @ 2.12g/t for 381koz, comprised of Indicated at 4.04Mt @ 2.3g/t
gold for 293k ounces, Inferred Mineral Resource of 1.55Mt @ 1.8g/t gold for 88k ounces at Burnakura (“NI 43-101 Technical
Report: Updated Mineral Resources, Burnakura Gold Project, Western Australia, Australia”, prepared by SRK, available at
www.monumentmining.com); and historical Mineral Resources (JORC Resource) 2.2Mt @ 2.2g/t Au for 153,000oz at
Gabanintha, plus 20% free carried interest in the Tuckanarra Gold Project (Figure 1).
Odyssey’s Tuckanarra Gold Project is part of the prolific Murchison Goldfields. The Project currently has an indicated and
inferred Mineral Resource Estimate of 5.14Mt @ 2.5g/t Au for 407koz of gold. This includes a high -grade subset of 2.25Mt
@ 3.9g/t for 283koz of gold above a 2.0g/t Au cut off. Approximately 4.2Mt @ 2.3g/t Au for 3 11koz is on granted mining
leases. For more information on Odyssey Gold, please refer to www.odysseygold.com.au.
Collaboration
The MOU between Odyssey and Monument is a non-binding agreement setting a framework for the two companies to evaluate
the sustainability of the Burnakura plant (figure 2) to treat Tuckanarra ore, assess the technical, commercial and logistical
requirements for joint operations or toll treatment where applicable, and negotiate commercial terms for ore treatment at
Burnakura.
Figure 1: Burnakura Gold Processing Plant at Burnakura (0.26Mtpa)
With both parties undertaking Studies on their respective operations, the M OU allows Odyssey and Monument to
collaboratively share Study outputs enabling optimization of mining and ore processing. The MOU also allows collaboration
on each company’s area of technical expertise, including Odyssey’s knowledge of local geology and gold minerali zation,
exploration and local stakeholder relationships combined with Monument’s expertise in processing, mining and metallurgy.
The parties will negotiate a definitive agreement when it is appropriate.
About Monument
Monument Mining Limited (TSX -V: MMY, FSE: D7Q1) is an established Canadian gold producer that 100% owns and
operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison area of Western Australia. It
has 20% interest in Tuckanarra Gold Project jointly owned with Odyssey Gold Ltd in the same region. The Company employs
approximately 2 50 people in both regions and is committed to sustainability with practice of the high standards of
environmental management, social responsibility, including health and safety for its employees and neighboring communities,
and good corporate governance.
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."
Disclaimer Regarding Forward-Looking Statements
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 even ts that are not
historical facts and include the Company's plans with respect to its mineral projects, expectations regarding the completion of the ramp-
up period to target production level at Selinsing and the timing thereof, expectations regarding the Company’s continuing ability to source
explosives from suppliers, expectations regarding completion of the proposed storage shed and ammonium nitrate depot and the timing
thereof, and the timing and results of the other 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 n ews 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 developmen t activities,
including those related to the ramp-up process at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot;
uncertainties and risks related to the Company’s ability to source explosives from suppliers; 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 r eports on
the Company's projects, all of which are available under the profile of the Company on SEDAR at ww w.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 generated from th e 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
projects; assumptions regarding the future price of gold of other minera ls; the timing and amount of estimated future production;
assumptions regarding the timing and results of development activities, including the ramp -up process at Selinsing and the completion of
the proposed storage shed and ammonium nitrate depot; expectations that the Company will continue to be able to source explosives from
suppliers in a timely manner; costs of future activities; capital and operating expenditures; success of exploration activiti es; 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. 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.