Monument Intercepts 1.44 g/t Gold over 56.5 meters in Selinsing Drilling

VANCOUVER, Dec. 10, 2013 /CNW/ - Monument Mining Ltd. (TSX-V: MMY and FSE: D7Q1) "Monument" or the "Company" is pleased to report recent Selinsing drill hole assay results from some of its FY2013 drilling program which continue to define and extend oxide and sulfide mineralization at the Selinsing open pit gold mine in Malaysia.

ASSAY HIGHLIGHTS

• MSMDD024 intersected 24.0 meters (172.9-196.9m) at 1.73 g/t Au including 3.0 meters (187.9-190.9m) at 4.81 g/t Au in the Deeps sulphide zone;
• MSMDD036 intersected 6.00 meters (207.5-213.5m) at 5.05 g/t Au and an underlying zone of 12.20 meters (229.9-242.1m) at 3.94 g/t Au in the Deeps sulphide zone;
• MMSDD051 intersected 14.5 meters (12.5-27.0m) at 2.02 g/t Au including 1.5 meters (17.0-18.5m) at 6.14 g/t Au in oxide south of the Selinsing pit;
• MSMDD067 intersected 1.60 meters (75.4-77.0m) at 19.4 g/t Au and an underlying 1.70 meters (89.0-90.7m) at 25.2 g/t Au (both in sulphide) north of the Selinsing pit;
• MSMDD084 intersected 56.5 meters (203.0-259.5m) at 1.44 g/t Au including 6.0 meters (222.5-228.5m) at 4.48 g/t Au in the Deeps sulphide zone.

These drill results demonstrate that gold mineralization at the Selinsing deposit continues along strike to the south and north as well as down-dip at depth (Selinsing "Deeps") as zones of significant widths of moderate grade including high grade sub-zones, in both sulphide and oxide ore. The sulfide mineralization is hosted in a north-south striking fault/shear zone dipping moderately to the east within an interbedded sequence of argillite, graphitic argillite, calcareous argillite, graphitic calcareous arenite, felsic tuff and phyllite rocks with weak to moderate gold-bearing quartz plus pyrite plus arsenopyrite plus/minus stibnite veins and stockwork veinlets. The sulfide minerals are generally not visibly present within the oxide mineralization.

The fiscal 2013 Selinsing drill program, totaling US$1.94 million, focused on finding additional oxide and sulfide ores within, adjacent to, and outside of the existing pit development areas and in the area extending northwards along strike from the Selinsing Pit to the Buffalo Reef South pit. Both infill-delineation drilling within the existing design pits and drill holes located on the margins of the design pits were completed to help maximize the conversion of Inferred resources to Indicated or Measured as defined in the August 31, 2012 NI 43-101 Technical Report posted on Sedar and the Company website at http://www.monumentmining.com/s/technical_reports.asp. The recent drill hole assay results from the Selinsing and Buffalo Reef areas are currently being reviewed and remodeled to assess all significant resource and reserve changes since the last NI 43-101 Technical Report was issued.

Table 1 below lists some of the significant Selinsing drill hole assays received between November 1, 2012 and October 31, 2013 and recently compiled. A complete table of diamond drilling results and drill hole details along with a plan map showing Monument's Selinsing drill hole locations presented in this press release are posted on the Company's website at www.MonumentMining.com.

Assays for another 36 outstanding drill holes drilled at Selinsing in fiscal 2013 are pending and will be reported in the near future. Additional FY2013 drill hole assays from the Buffalo Reef resource areas will also reported soon. Follow up drilling will be pursued in priority areas throughout the property during fiscal 2014 after completion of assaying, assessment of the fiscal 2013 drilling results, and approval of the fiscal 2014 plan. Two Monument-owned diamond drills are currently drilling at the adjacent FELDA land to the east of the existing Selinsing open pit and the Buffalo Reef South and Central resource areas. The drill hole assay results from this FELDA program will also be released in the near future.

From October 2010 to October 31, 2013, a total of 32,308 meters in 169 diamond and RC drill holes have been completed at Selinsing:

QA/QC
The information in this press release has been compiled and/or reviewed by Ian Bruce, Chief Managing Geologist for Monument Mining Ltd. (M.Sc., AIG) who is a Qualified Person as defined by NI 43-101 guidelines and has been working in Malaysia for Monument since October 21, 2012. This press release has been reviewed by Todd Johnson (M.Sc., P.E.), Vice President of Exploration for Monument Mining Ltd., who is also a Qualified Person as defined by National Instrument 43-101 guidelines and approves the information in this press release as valid.

Drill holes at Selinsing are being sampled and logged at site in a secured and fenced area within the mine site and the core facility is locked during nonbusiness hours. Most of the drill hole samples are shipped to SGS Malaysia at Port Klang for sample preparation and analysis which is an accredited lab that complies with ISO 17025:2005 requirements. The samples are dried, crushed to 90% passing 4.0 mm and pulverized to 90% passing -75 microns and analyzed for: Au fire assay (2 assay ton) using the FAA505 analysis method; and ICP Ag, ICP As, and ICP Sb. As part of the Quality Control and Quality Assurance program, certified Au standards and non-certified blank materials are inserted approximately every 20 samples into the sample sequence.

Assay results reported in this press release are drill thicknesses but approximate true thickness as most drill holes are generally oriented at a magnetic azimuth of 270 degrees with an inclination of 50 to 70 degrees (near perpendicular to the strike and dip of the mineralized zones). All reported diamond drill hole assay results in this press release are generally associated with recoveries greater than 80 percent unless otherwise noted.

About Monument
Monument Mining Ltd. (TSX-V:MMY, FSE:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia, with production cash costs among the lowest in the world. Its experienced management team is committed to growth and is advancing several exploration and development projects in Malaysia, including the feasibility stage, Mengapur Polymetalic Project. The Company employs 330 people in Malaysia 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 Ltd.
Suite 910- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1

Table 1. Summary of Significant FY2013 Selinsing drill hole intercepts received as of October 31, 2013.

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Forward-Looking Statement

This news release contains forward-looking statements about Monument Mining Limited ("Monument"), its business and future plans. Forward-looking statements are statements that are not historical facts and include the timing of the proposed programs and events. 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, the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; statements regarding the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. 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". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: 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.

SOURCE Monument Mining Ltd.