Monument Signed Deed of Variation with Intec for Copper Process Testing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 29, 2017) - -Monument Mining Limited (TSX VENTURE:MMY)(FRANKFRUT:D7Q1) "Monument" or the "Company" is pleased to announce that it has signed a Deed of Variation Agreement with Intec International Projects Pty Ltd ("Intec") to the Heads of Agreement ("HOA") dated in January 2015 to exploit the Intec Technology for their sulphide copper process (the Intec testwork).

While Intec has not been chosen as the most suitable treatment for Selinsing/Buffalo Reef sulphide ore due to their certain characteristics, the testwork going forward with Intec will be focused on production of very close to London Metal Exchange ("LME") grade copper metal at the Mengapur Project. Monument will review the Intec related technical information to design their testing programs.

The commercial objective of the testwork is to produce copper metal in-country at the Mengapur site. Malaysia is a net importer of copper metal to feed its copper metal products manufacturing and fabrication industries. This will entail confirmation test work programs using copper ore feed from the Mengapur site and pilot plant programs using Intec. The technology has successfully produced copper and other base metals for more than 7 years in Tasmania, Australia by treating waste dumps as a commercial project.

Pursuant to the Deed, the term of the interim Intec license granted to Monument has been extended to January 16, 2022 from January 17, 2017, during which, Monument at its discretion will decide when to commence the Intec testwork. The Intec testwork comprises three stages: pilot plant testing, pre-commercial testing and trial commercial plant testing. Both parties agree to enter into a formal license agreement before commencement of the pre-commercial testing stage.

By signing this agreement, Monument has released 7 million fully paid common shares from escrow to Intec. Upon completion of each of the above phases, Intec would earn 25%, 25% and 50% of the remaining 7 million escrow shares accordingly. The Earned escrow shares will be released to Intec 30 days after of the completion of each testing upon satisfactory results. Should Monument make an election not to proceed the test work, any Earned Shares will be released to Intec within 10 business days, and the remaining Escrow Shares will be returned to Monument for cancelation.