Business & Investment

Monument announces end of joint venture for Tuckanarra project in Western Australia

Vancouver, British Columbia, December 24, 2020 (GLOBE NEWSWIRE) — Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or “Company” has announced a joint venture agreement with .. Odyssey Gold Ltd (ASX: ODY) has been closed and ODY now owns 80% of the Tuckanarra Gold Project (“Tuckanarra”), leaving 20% ​​free carry interest in Monument.

Tuckanarra is located in Murchison Goldfield. The JV arrangement will allow the exploration of Tuckanarra to proceed immediately. The monument provides the opportunity to supply the Burnakura gold processing plant with future ore produced by ODY.

At the end, Monument will receive the first payment of AUD $ 2,000,000 and must pay AUD $ 2,000,000 in cash within 6 months. A $ 1,000,000 reserve may be paid within 36 months of completion of the acquisition, subject to a depiction of mineral resources that independently valued at least 100,000 ounces of gold in the lowest resource grade according to the JORC Code (2012 edition). .. 1.55g / t in connection with the Tuckanarra Gold Project. The cash proceeds will be used to fund the development and working capital of the Murchison Gold project.

About monuments

Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) is a well-established Canadian gold producer operating a wholly owned Serinsing Gold Mine in Malaysia. Its experienced management is committed to growth, including several exploration and development projects, including the Mengapur Copper and Iron Project in Pahang, Malaysia, and the Murchison Gold Projects consisting of Burnakura, Gabanintha and Tuckanarra in the Murchison region of Western Australia. We are working on a project. With approximately 200 employees in both regions, we are committed to the highest standards of environmental management, social responsibility, health and safety for our employees and their neighbors.

Kathy Zai, President and CEO
Monument Mining Limited
Suite 1580-1100 Melville Street
Vancouver, British Columbia V6E4A6

For more information, please visit the company website at www.monumentmining.com or contact us at:

Richard Coosing, MMY Vancouver T: + 1-604-638-1661 x102 rcushing@monumentmining.com

“Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange policy) is responsible for the validity or accuracy of this release.”

Description of future prospects

This news release contains a statement containing information about the future outlook for Monument, its business and future plans (“Future Outlook Statement”). Forward-looking statements include non-historical expectations, plans, objectives, or future events, with our plans for mineral projects, and the timing of proposed programs and events mentioned in this news release. A description that includes the result. In general, forward-looking information uses forward-looking terms such as “plan,” “expect,” “not expect,” “expected,” “budget,” “plan,” and “estimate.” Can be identified. “Predict”, “intended”, “predict”, “unexpected”, “believe”, or a variation of such a word or phrase, or a particular action, event, or result is “potential” , “Possible”, “Possible”, “Possible” or “Take”, “Occurs” or “Achieved”. The forward-looking statements in this news release are subject to various risks, uncertainties, and other factors, and the actual results or outcomes are largely as expressed or implied by the forward-looking statements. It may be different. These risks and certain other factors include, but are not limited to: Risks associated with general business, economic, competitive, geopolitical and social uncertainty. Uncertainty about the outcome of current exploration activities. Uncertainty in the progress and timing of development activities. Risks of overseas business; Other risks inherent in the mining industry, as well as other risks described in discussions and analysis by our management and technical reports on our projects. All of these are available under our profile at SEDAR at www.sedar.com. Key factors and assumptions used in this news release to create forward-looking statements are the estimated cash costs per ounce of gold production and the estimated cash flows that may arise from operations, in general. Includes forecasts for various economic factors and other factors. Beyond monument control; assumptions and expectations regarding the findings of our project. Assumptions about the future price of gold in other minerals; estimated timing and quantity of future production. Expected timing and outcome of development and exploration activities. Costs of future activities; Capital and operating costs; Successful exploration activities; Mining or processing issues. Exchange rates; Also, discussions and analysis by our management and all factors and assumptions contained in the technical report on our projects are available in our profile at SEDAR at www.sedar.com. We have attempted to identify key factors whose actual performance may differ materially from those contained in our forward-looking statements, but the results do not match our expectations, estimates or intent. There may be other factors that cause it. There is no guarantee that such a statement will be proven to be accurate, as actual results and future events may differ materially from those expected in such a statement. Therefore, readers should not place undue reliance on forward-looking statements. We undertake no commitment to update forward-looking statements except in accordance with applicable securities law.

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Monument announces end of joint venture for Tuckanarra project in Western Australia

https://financialpost.com/pmn/press-releases-pmn/globe-newswire-releases/monument-announces-closing-of-the-joint-venture-arrangement-for-the-tuckanarra-project-in-western-australia Monument announces end of joint venture for Tuckanarra project in Western Australia

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