Monument to Confirm Best Gold Recovery Results from Sulphide Material
January 11, 2017 News Release Release #02 - 2017
Monument to Confirm Best Gold Recovery Results from Sulphide Material
Vancouver, B.C., January 11, 2017, Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument”
or the “Company” reports that, following up on the announcement of the pre-feasibility study results in a Sedar
filed “NI 43-101 Technical Report – Selinsing Gold Mine and Buffalo Reef Project” (the “Selinsing 2016 NI43-
101 Pre-Feasibility Study”, or the “PFS”) on December 14, 2016, additional test work to further optimize bioleach
sulphide treatment recoveries has now been commenced in parallel with completing Intec and acid leaching
alternatives at its wholly owned Selinsing Gold Mine in Malaysia.
The Selinsing 2016 NI43-101 PFS report prepared by Snowden Mining Consultants has focused on a biological
treatment approach as an economically viable option for the Company to maximize gold recovery from the
sulphide material. A total Mineral Reserve of 279 koz of gold from 6,217 kt of ore at a grade of 1.40 g/t Au is
reported, including 60 koz of gold from 2,736 kt of oxide ore at a grade of 0.68 g/t Au, which will support the
Company’s next 18 to 24 months production in trans ition period. Remaining sulphide ore will be processed
primarily through an additional biological pre-treatment circuit planned to be added to the existing plant. U pon
success of final design, in-house construction and commissioning, the upgraded plant will enable the Company to
continue gold production at Selinsing for a further estimated 5 years through to 2023 without further ore discovery,
as demonstrated by the recent NI43-101 PFS report.
The additional test work is aimed to confirm that the biological approach is suitable and the outcome could be
further optimized to provide the highest recovery of gold, based on the results of the work to date undertaken by
the Company and the results achieved through independent consultants and third party laboratories, and therefore
to provide a higher level of confidence with respect to gold recovery and enable robust capital and operating costs
to be generated in comparison with the current NI 43-101 PFS results.
The biological test work has been arranged through a biological/bacterial leaching specialized laboratory in South
Africa. The remaining feedstock from the Buffalo Reef ore body used for the second Intec pilot campaign are
representative and sufficient for the test work carried out under the control of independent specialists. In parallel
with the additional biological test work program, Monument’s in-house R&D team is also considering innovative
methods to further reduce capital and operating costs and thus enhance the economics of the project by all other
avenues. An interim engineering design for the biological process plant has been completed by Monument that
can be modified should test results require for delivery of a final engineered integrated sulphide process pre -
treatment plant.
Michael Kitney, MAusIMM, M Sc has reviewed, supervised the preparation and approved the scientific and
technical disclosure in the news release as a Qualified Person under NI43-101 standards.
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 Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the
Murchison area of Western Australia . The Company employs approximately 260 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. The Company has also been looking in other count ries seeking
potential opportunities for larger resources, including the Democratic Republic of the Congo (“DRC”).
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.