Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) announces that the Company, through its wholly owned subsidiary Monument Mengapur Sdn. Bhd. in Malaysia, has entered into a binding Memorandum of Understanding with Malaco Mining Sdn. Bhd and Malaco’s wholly owned subsidiary Cermat Aman Sdn. Bhd., both incorporated in Malaysia, to acquire the Mengapur Polymetalic Project located in Pahang State, Malaysia. 

The Mengapur Project is located in Central Malaysia in the State of Pahang and was first discovered by a drilling program carried out by the Geological Survey of Malaysia. The Mengapur Project is located approximately 130 kilometers from Monument’s wholly owned Selinsing Gold Mine near Sri Java, 12 kilometers from a highway and 75 kilometers from the Malaysian port of Kuantan.Historical economic and resource estimates on the Mengapur Project were completed and published as a “Definitive Feasibility Study” (the “Study”) in October 1990 by Normet Engineering Pty Ltd with James Askew Associates completing the ore reserve and resource estimates, both of Perth Western Australia.

The Study contains 10 volumes of comprehensive supporting documents which resulted from a 10 year, 58,000 meter diamond drilling program costing approximately US$40 million. The exploration program was carried out by the Malaysian Mining Corporation (“MMC”), a Malaysian government owned corporation. The resource and reserve estimates reported in the Study are historic and are considered to provide an indication of the potential of the project based on historic assumptions used to modify the resource to a reserve, therefore should not be considered as Mineral Resources and Mineral Reserves as defined in the CIM guidelines.

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