Monument Signs Exclusive Option on Matala Gold Project
January 19, 2017 News Release Release #03, 2017
Monument Signs Exclusive Option on Matala Gold Project
Vancouver, B.C ., January 19, 2017, Monument Mining Limited (TSX -V: MMY and FSE: D7Q1) (“Monument” or the
“Company”) reports that the Company has now signed an Exclusive Option Agreement with Panex Resources Inc. (“Panex”),
subsequent to the related announcement made on December 28, 2016, to acquire Panex’s 51% controlling interest in the
Matala Gold Project. Panex is a public company that acquired rights to earn up to 90% of the Matala Gold Project under a
farm-in agreement with Afrimines SARL, the owner of Matala, in June 2016.
President Robert Baldock commented “ The Company has been interested in the opportunities for significant gold and other
resources in the DRC. This opportunity provides low entry cost and risk by allowing Monument to evaluate the results of the
drill program being conducted by Panex prior to deciding whether to exercise the option.
Panex has specialized in exploration, evaluation and acquisition of mineral properties focusing in Africa with particular focus
in the DRC due the prolific gold, copper and other natural resources that have been discovered there . This move will enable
Monument to assess Matala and possibly a number of acquisition opportunities in DRC, where several significant liste d
mining operators have successfully discovered reserves and resources and built both gold and copper projects and have been
profitably operating these mining projects over recent years.”
Terms of Exclusive Option Agreement
Under the terms of the Exclusive Option Agreement, t he Company will pay a one -time option fee of US$250,000 to Panex
upon certain conditions being met within 10 days of the execution of the agreement. Upon payment of the fee, Monument
will be granted an exclusive option to purchase a 51% project interest in Matala by issuing 20 million common shares of
Monument to Panex subject to TSX Venture Exchange and regulatory approvals.
During the 6 month option period, Panex will cover all overheads and undertake a drilling program without any cost to
Monument, the results of which will be made available to Monument and the market. Monument will not be required to spend
any funds or be on the ground to undertake any work. In the meantime Monument will have a 6-month period to be able to
undertake a due diligence update on the project before making any decision to proceed. If warranted, Monument may have a
new technical report prepared on the project to replace the report filed on SEDAR on March 22, 2016, which should not be
relied upon.
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 Polymetallic Project, in Pahang State of M alaysia, and the
Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia .
The Company employs approximately 240 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.
Robert F. Baldock, 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 certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achiev ed". 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 avail able under the profile of
the Company on SEDAR at www.sedar.com. Material factors and assumptions used to devel op 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,
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; th e
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 i mportant 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.