VANCOUVER, British Columbia, April 02, 2025 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Company”) today is pleased to announce that it has signed a Memorandum of Understanding (“Collaboration Agreement”, or “MOU”) with Great Boulder Resources (“Great Boulder”, ASX: “GBR”) for collaboration to potentially process ore from Great Boulder’s Side Well Gold Project through Monument’s Burnakura Mill at Meekatharra, Western Australia subject to availability.
President and CEO Cathy Zhai commented, "I am very pleased with thanks to Mr. Andrew Paterson, the Managing Director of Great Boulder, for considering Burnakura mill as their treatment option and for his willingness to collaboratively explore the best solution beneficiary to both parties in optimization of potential production. It will give an opportunity for exploration companies to generate cash flow as gold prices surge to historical record highs. While junior companies continue to face their own challenges and navigate the inherent risks of the natural resource industry, we are working hand in hand to find a win-win solution in the region.”
Background
Following the successful commercial production of the upgraded sulphide gold concentrate plant at Selinsing Gold Mine, Monument is now advancing its Murchison Gold Project towards potential commercial production. SRK Consulting (Australasia) Pty Ltd (“SRK”) is currently engaged to provide economic assessments, including evaluating the Burnakura mill capacity for initial re-start and potential upgrade options up to 750K tpa. With a proven track record for building-up and advancing operational mines, Monument continues to leverage its strong production management team to drive growth and efficiency.
Monument has an estimated Mineral Resource of 5.59Mt @ 2.12g/t for 381koz, comprised of Indicated at 4.04Mt @ 2.3g/t gold for 293k ounces, Inferred Mineral Resource of 1.55Mt @ 1.8g/t gold for 88k ounces at Burnakura (“NI 43-101 Technical Report: Updated Mineral Resources, Burnakura Gold Project, Western Australia, Australia”, prepared by SRK, available at www.monumentmining.com); and historical Mineral Resources (JORC Resource) 2.2Mt @ 2.2g/t Au for 153,000oz at Gabanintha, plus 20% free carried interest in the Tuckanarra Gold Project.
Great Boulder is a mineral exploration company with a portfolio of highly prospective gold and base metals assets in Western Australia ranging from Greenfields through to advanced exploration. The Company’s core focus is the Side Well Gold Project at Meekatharra in the Murchison gold field approximately 48 km north of Burnakura (Figure 1), where exploration has defined a Mineral Resource of 7.45Mt @ 2.8g/t Au for 668,000oz Au (340koz @ 3.4g/t Au Indicated, 327koz @ 2.4g/t Au Inferred). The Company is also progressing early-stage exploration at Wellington Base Metal Project located in an emerging MVT province. For more information on Great Boulder, please refer to www.greatboulder.com.au.
The MOU between Great Boulder Resources and Monument Mining is a non-binding agreement setting a framework for the two companies to evaluate the sustainability of the Burnakura plant to treat GBR’s Side Well ore, assess the technical, commercial and logistical requirements for joint operations or toll treatment where applicable, and negotiate commercial terms for ore treatment at Burnakura.
With both parties undertaking scoping studies on their respective operations, the MOU allows GBR and Monument to collaboratively share scoping study outputs enabling optimization of mining and ore processing. The MOU also allows collaboration on each company’s area of technical expertise, including GBR’s knowledge of local geology and gold mineralization, exploration and local stakeholder relationships combined with Monument’s expertise in processing, mining and metallurgy.
In the event Monument wishes to use Burnakura’s milling capacity to toll treat third-party ore sources, the Agreement provides pre-emptive processing rights for GBR subject to availability. During the course of the Agreement each company will remain responsible for its own study costs.
The parties will negotiate a definitive agreement when it is appropriate.
About Monument
Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) is an established Canadian gold producer that 100% owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison area of Western Australia. It has 20% interest in Tuckanarra Gold Project jointly owned with Odyssey Gold Ltd in the same region. The Company employs approximately 250 people in both regions and is committed to sustainability with practice of the high standards of environmental management, social responsibility, including health and safety for its employees and neighboring communities, and good corporate governance.
Cathy Zhai, President and CEO Monument Mining Limited Suite 1580 -1100 Melville Street Vancouver, BC V6E 4A6
FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact:
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Disclaimer Regarding Forward-Looking Statements
This news release includes statements containing forward-looking information about Monument, its business and future plans ("forward-looking statements"). Forward-looking statements are statements that involve expectations, plans, objectives or future events that are not historical facts and include the Company's plans with respect to its mineral projects, expectations regarding the completion of the ramp-up period to target production level at Selinsing and the timing thereof, expectations regarding the Company’s continuing ability to source explosives from suppliers, expectations regarding completion of the proposed storage shed and ammonium nitrate depot and the timing thereof, and the timing and results of the other proposed programs and events referred to in this news release. 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". 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: risks related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities, including those related to the ramp-up process at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; uncertainties and risks related to the Company’s ability to source explosives from suppliers; foreign operations risks; other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors and assumptions used to develop forward-looking statements in this news release include: expectations regarding 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; assumptions and expectations regarding the results of exploration on the Company's projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; assumptions regarding the timing and results of development activities, including the ramp-up process at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; expectations that the Company will continue to be able to source explosives from suppliers in a timely manner; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company's projects, all of which are 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 statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements 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 statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
