Monument Reports Appeal Court Upholds Mersing Decision in Monument's Favor

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 26, 2016) - Monument Mining Limited (TSX VENTURE:MMY) (FRANKFURT:D7Q1) "Monument" or the "Company" reports that the appeal filed by the Defendant against the Judgment on Mersing matter granted by Shah Alam High Court was upheld by the Court of Appeal in favor of Monument. Therefore the Shah Alam High Court decision in favor of Monument stands.

The Company instituted a legal action at Shah Alam High Court against the Emas Kehidupan Sdn. Bhd. ("EK") and its shareholders: Zackry Mohamed Iwaz and Kesit Pty Ltd, a company controlled by Peter Steven Kestel (together the "Vendor Group", "Defendants") due to non-fulfillment of condition pursuant to an Earn-in Agreement ("Mersing Transaction") signed in September 2011, claiming for the return of the purchase price paid for the Mersing transaction.

In March 2016, the High Court has awarded a judgment against the Defendants and issued orders for the Vendor Group to return the received consideration to Monument in cash and 1.5 million fully paid Monument shares to the Company (the "Judgment"). Subsequent to the Judgment Monument has collected Cash of RM1,790,299 (equivalent to $500,000 cash consideration paid plus interest of $75,674) in full and had the 1,500,000 Monument shares returned to treasury.

The Defendants subsequently appealed the Judgment to the Court of Appeal and the hearing of the same was fixed on September 15, 2016. That Court of Appeal dismissed the Vendor Group's appeal with costs and upheld the Judgment made by the Shah Alam High Court Judge.

About Monument

Monument Mining Limited (TSX VENTURE:MMY) (FRANKFURT: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 240 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 countries seeking potential opportunities for larger resources..