Monument Collects Judgment and Adds Peter Kestel Personally as Defendant at Kuantan High Court

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 13, 2016) - Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) "Monument" or the "Company" reports that it has collected the Shah Alam High Court Judgment award in relation to the Mersing Matter and has added Peter Kestel personally as a Defendant in the SMSB Matter at the Kuantan High Court, through which the Company claims for the return of 100% of the shares of Selinsing Mining Sdn. Bhd. ("SMSB") to its wholly owned subsidiary against Kesit Pty Ltd, an Australia company owned by Peter Kestel. SMSB is the Company suing Monument for a 5% JV interest in the Selinsing Gold Project in Malaysia.

Monument Collects Judgement against Kesit Pty Ltd and Others

Subsequent to the announcement made on March 7, 2016, the Company has collected the 1.5 million fully paid Monument common shares on June 6, 2016 and returned them to Treasury. It is in addition to RM 1,790,299.00 in cash (equivalent to CAD$575,674) collected in March. The collection therefore has been completed pursuant to the Judgment awarded by the Shah Alam High Court in the Mersing Matter filed by the Company against Emas Kehidupan Sdn. Bhd., Kesit Pty. Ltd. and Zackry Mohamed Iwaz (the Vendor Group).

On September 12, 2011, the Company paid CAD$0.50 million in cash and issued 1.5 million fully paid common shares to the Vendor Group as a consideration for a 49% interest in the Mersing Gold Project, subject to the condition that title of the Mersing Gold Project be transferred by the Vendor Group to Himpunan Suci Sdn. Bhd. ("HSSB"), which should be the sole and primary company that owns the Mersing Project.

Due to the Vendor Group's failure to transfer the Mersing title to HSSB, the Company terminated the Mersing project and commenced legal action. In February 2016, the Company obtained a Judgment from the Shah Alam High Court in Malaysia, which ordered the Vendor Group to refund the monies paid and to return the 1.5 million shares to the Company by April 10, 2016. The Vendor Group has filed an appeal against the Judgment.

Monument Joins Peter Kestel Personally As Defendant in the Kuantan High Court

On February 16, 2015, Monument and its wholly owned subsidiary Able Return Sdn Bhd. ("Able") filed a writ at the Kuantan High Court against Summer Empire Sdn. Bhd. ("Summer") and Kesit Pty Ltd ("Kesit") claiming for the return of the entire 100% of the issued SMSB's shares to Able pursuant to a condition in the Purchase and Sale Agreement dated July 30, 2007 in the acquisition of the Selinsing Gold Project.