EANS-News: Monument Mining Ltd. / Monument Agrees to Acquire a 70% interest in the Mengapur Polymetalic Project in Malaysia

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Mergers - Acquisitions - Takeovers

Vancouver, Canada (euro adhoc) - Monument Mining Limited (TSX-V: MMY
and FSE: D7Q1) "Monument" or the "Company" today announces that the
Company, through its wholly owned subsidiary Monument Mengapur Sdn.
Bhd. (formerly "Orifer Asia Sdn. Bhd.") in Malaysia, has entered into
a binding Memorandum of Understanding (the "MOU") with Malaco Mining
Sdn. Bhd ("Malaco") and Malaco's wholly owned subsidiary Cermat Aman
Sdn. Bhd.("CASB"), both incorporated in Malaysia, to acquire the
Mengapur Polymetalic Project (the "Mengapur Project" or the
"Project") located in Pahang State, Malaysia. The acquisition
remains subject to due diligence, updating of historical resource and
reserve estimates, signing of a Definitive Sale and Purchase
Agreement, financing, board and regulatory approvals and other
conditions. Upon completion of the acquisition, Monument would hold
a 70% pre-financing interest in the Project.

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.

The Study reported the historic estimates in the following tables at
an equivalent Cu grade cut-off (EQV Cu) of 0.34% based on historic
price and recovery assumptions, but it did not state whether the
historic reserve estimate is inclusive or exclusive of the historic
resource estimate:

Mengapur Project Historic estimates as at October 1990:

---------------------------------------------------------------------
---- Tonnes EQV Cu
Au Ag (Million t) (%) S (%) Cu (%)
(g/t) (g/t) --------------------------------------------------------
-----------------

Sulphide Proven 26.467 0.803 9.20 0.31 0.25 2.46
----------------------------------------------------------------
Probable 38.324 0.691 8.23 0.24 0.19 2.68

---------------------------------------------------------------------
---- Total 64,800 0.737 8.67 0.27
0.21 2.59 ---------------------------------------------------------
----------------

---------------------------------------------------------------------
---- Tonnes EQV Cu
Au Ag (Million t) (%) S (%) Cu (%)
(g/t) (g/t) --------------------------------------------------------
-----------------

Oxide Measured 4.866 0.419 0.00 0.47 0.05 27.82
----------------------------------------------------------------
Indicated 16.406 0.557 0.00 0.64 0.12 26.45

---------------------------------------------------------------------
---- Sub-total 21.272 0.525 0.00 0.60
0.10 26.76 ---------------------------------------------------------
----------------

Sulphide Measured 63.438 0.661 7.622 0.25 0.18 3.30
----------------------------------------------------------------
Indicated 130,699 0.579 7.040 0.19 0.13 3.85

---------------------------------------------------------------------
---- Sub-total 203.137 0.605 7.222 0.21
0.15 3.68 ---------------------------------------------------------
---------------- TOTAL 224.409 0.597 6.54
0.25 0.46 8.86 -------------------------------------------------
------------------------

Equivalent Cu % is based on the following assumptions:

Recoveries for Cu, Au , Ag, and S of 76.6 %, 47 %, 48% and 82 %
respectively and commodity prices in US$/kg of 1.37 Cu, 4,107 Au, 65
Ag and 0.09 S and a combined mining and process cost of US$ 4.45/
tonne.

The Study stated in its resource section: "As this report forms part
of a bankable document, the United States Securities and Exchange
Commission (SEC) definitions and guidance on ore reserves and
resources are used." The Company considers the Study to be relevant
as it will be further reviewed and upgraded as part of the due
diligence program as noted below; however, it is an historic document
completed prior to the introduction of National Instrument 43-101
("NI 43-101") standards and should not be relied upon. Monument is
not treating the historical estimate as current mineral resources or
mineral reserves as those terms are defined in NI 43-101. A qualified
person has not done sufficient work to classify the historical
estimates as current mineral resources or mineral reserves under NI
43-101.

The Study proposed construction of a process facility, roaster and
supporting infrastructure and other supplemental processing
facilities (together the "Plant Facilities"). According to the Study,
the Plant Facilities were expected provide capacity for treatment of
2,500,000 tons per year for a mine life of 23 years. Other activities
including further acquisitions and area exploration could further
increase this mine life as the resource was found to be open in all
directions. In addition, the Plant Facilities could also produce
other by- products such as 600,000 tons of sulfuric acid or
downstream products as indicated by the Study such as fertilizer for
the Malaysian and other palm oil industry participants in neighboring
South East Asian countries. Any economic data from the historic
feasibility study is included in this news release only for
background information. This data must be considered out of date and
is not intended to suggest any current economic viability.

The consideration for acquiring the Mengapur Project will be
comprised of a cash payment of US$50,000,000 and the issuance of a
share parcel equivalent to a 30% interest in Monument Mengapur Sdn.
Bhd. In parallel with the acquisition, the Company has signed a
Mandate with Deutche Bank Global Mining Finance of London UK ("the
Bank") to assist in the funding of the acquisition and subsequent
build out of the project and study the possibility of additional
stock exchange listings in appropriate jurisdictions. The acquisition
of the Mengapur Project will be an arm's length transaction.

In conjunction with the intended acquisition, the Company has
approached Snowden Mining Industry Consultants Pty Ltd ("Snowden") to
undertake a critical review and update of the Study. Snowden will
also produce an updated "Summary Report" within a three months period
with updated metal prices and present cost information as a part of
the due diligence process. As a part of this updated study, Snowden
will review the resource and reserve estimates contained in the
Study. The Bank has recently visited the Project as a part of their
due diligence process and has agreed that Snowden can act for both
the Company and the Bank to produce the updated Summary Report as a
part of the Bank's due diligence process.

The acquisition is expected to complement the present gold
production, exploration and other activities of the Company in
Peninsular Malaysia. Monument presently has over 180 staff and
workforce employed operating its Selinsing gold producing and
exploration assets in Malaysia and plans to expand this workforce in
the future to facilitate growth of the company.

President and CEO Robert Baldock stated " "This is an open pit mining
project and our Selinsing track record and in-country knowledge leads
us to believe we have a good understanding of local operating
conditions, cost structures, and Federal, State and local government
requirements and social obligations. If the Company proceeds with the
Project, it would bring substantial benefits to the Malaysian
community as a whole through payment of government royalties and long
term employment for potentially over 500 people once it is operating,
plus significant ongoing purchase of goods, contract services and
other community services requirements.

"Together with the upgrade to over 1,000,000 tons per year treatment
rate and increasing gold production presently being undertaken at the
Selinsing Gold Mine, its large and increasing exploration initiative,
large land position and resulting product pipeline being developed,
the Company will have a significant presence in Malaysia, producing
precious and base metals as well as the potential for sale of other
by products. This will diversify the Company against fluctuating
metal prices over the long term while maintaining an increasing gold
production profile and create a more robust long-term focused
multi-listed producer".

Background

The Project was previously owned by MMC, a Malaysian Government owned
company. MMC drilled 58,000 meters of core into the Project and over
a 10 year period spent approximately US$40.0 M in producing the
economic and resource assessment. Normet Engineering Pty Ltd.
Australia was engaged in the this assessment who in turn engaged
James Askew and Associates from Perth, Western Australia to complete
the ore reserves and resources section. The results were published in
October 1990 named as "Definitive Feasibility Study" (the "Study").
The Study was comprehensive, including sections on capital and
operating cost estimates, marketing, viability, economics and other
important aspects of a bankable document.

In and around 1992, the Malaysian Government decided to leave the
mining industry and become a diversified engineering group in the oil
and gas and general consulting, contracting area. The Project was
subsequently acquired by Malaco through its wholly owned subsidiary
CASB, the present vendor to Monument's wholly owned Malaysian
subsidiary.

Monument's CFO and VP, Corporate Finance Cathy Zhai advised "Monument
has been in discussions and studying this opportunity for much of the
last year and has been upgrading its administrative capacity to be
able to meet the internal and market requirements of a
multi-jurisdiction listed company. At the same time, the Company has
been increasing its technical depth both in-house and in terms of
outside consulting arrangements in order to undertake this large
project."

Michael Andrew, Geol, MAusIMM at Snowden, is the qualified person who
has, on behalf of the Company, reviewed the technical information
summarized in this news release.

About Monument Mining Limited

Canadian based Monument Mining Limited has two wholly-owned principal
properties: Selinsing Gold Mine Project ("Selinsing"); and Damar
Buffalo Reef Prospect ("Buffalo Reef"); which are located in Pahang
State in the Central Gold Belt District of Malaysia. In addition, the
Company recently acquired the Famehub properties comprising 32,000
acres of prospective exploration land. These assets are an
approximate 2 hour drive from the Mengapur Project.

In conjuction with extensive exploration programs at Selinsing,
Buffalo Reef and the Famehub properties, the Selinsing Gold Mine is
on track to produce its scheduled 40,000 ounces of gold in its first
full year of commercial production at an estimated average operating
cash cost of approximately $317 per ounce with an initial five year
mine life in the first pit. The gold treatment plant has a current
capacity of 400,000 tpa with a proposed capacity expansion through
the addition of an additional milling circuit to the existing plant.

Please visit our website at www.monumentmining.com for more
information.

Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 910- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1

"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 contains forward-looking information about Monument
Mining Limited ("Monument"), its business and future plans. The use
of words such as "would", "estimate", "expect", "may", "will",
"project", "should", "believe" and similar expressions are intended
to identify forward-looking information. Forward-looking
information in this news release includes statements with respect to
the completion and the timing of the Summary Report, the financing,,
the results of due diligence and the Summary Report, the entering
into of a definitive agreement and the closing of the proposed
acquisition of the Project. The following are some of the
assumptions upon which forward-looking information is based: that
general business and economic conditions remain stable; continuing
demand for, and stable or improving prices of gold; receipt of
regulatory and government approvals in a timely manner; the
availability of financing; Monument's ability to procure equipment
and operating supplies in sufficient quantities and on a timely
basis; Monument's ability to attract and retain skilled personnel;
the accuracy of the company's resources estimates and the accuracy of
the historical estimates in the Study; the estimated cash cost per
ounce of gold production and the estimated cash flows which may be
generated from the operations. Actual results could differ
materially from those anticipated in this forward-looking information
as a result of risks and uncertainties, including: volatility in the
price of gold; risk inherent in mineral exploration and development;
uncertainties associated with the estimating of mineral resources,
and in particular the historical estimates in the Study; competition
for capital and skilled personnel; geological technical and drilling
problems; general business, economic, competitive, geopolitical and
social uncertainties; the actual results of current exploration
activities; foreign operations risks; other risks inherent in the
mining industry and other risks described in the annual information
form of the Company, which is 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
information, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance that
such information 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 information. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.

(MMY.)

end of announcement euro adhoc
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company: Monument Mining Ltd.
688 West Hastings St. Suite 910
CA-V6B 1P1 Vancouver
phone: +1 (604) 638 1661
mail: czhai@monumentmining.com
WWW: http://www.monumentmining.com
sector: Metals & Minerals
ISIN: CA61531Y1051
indexes:
stockmarkets: Open Market: Frankfurt, free trade: Berlin, Düsseldorf, München
language: English

ots Originaltext: Monument Mining Ltd.
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Monument Mining Limited: Richard Cushing, Investor Relations, T: + 1 604 638
1661 x 102, E: rcushing@monumentmining.com; CHF Investor Relations: Robin Cook,
Senior Account Manager, T: + 1 416 868 1079 x 228, E: robin@chfir.com; Axino AG
- Europe: Wolfgang Seybold, President and CEO, T: + 49 711 25 35 92 40, E:
wolfgang.seybold@axino.de

Branche: Metals & Minerals
ISIN: CA61531Y1051
WKN: AOMSJR
Börsen: Frankfurt / Open Market
Berlin / free trade
Düsseldorf / free trade
München / free trade