Mr. Robert Baldock reports

MONUMENT'S 2011 ANNUAL RESULTS

Monument Mining Ltd. has released its annual financial results for the year ended June 30, 2011. Please refer to SEDAR for full annual financial results.

Annual highlights

• Gross revenue of $57-million (U.S.) was generated from gold sales of 40,438 ounces at an average price of $1,400 (U.S.) per ounce.
• Gold production of 44,438 ounces was produced at average cash cost of $242 (U.S.) per ounce, 10 per cent over projection.
• A positive net working capital of $63.1-million (U.S.) resulted from gold sales and the $13.4-million (U.S.) ($13-million) financing.
• The phase 3 gold processing plant extension commenced for a budgeted $8.1-million (U.S.) to more than double production capacity from 400,000 tonnes per year to one million tonnes per year. All major equipment was secured.
• A National Instrument 43-101 technical report, prepared by Snowden Perth Pty. and filed on SEDAR on May 27, 2011, converted historical estimates to CIM-compliant resources with a 20-per-cent increase in gold content at Buffalo Reef prospect.
• During the fiscal year, following the announcement of an exploration budget of $3.4-million (U.S.), 3,012 metres of diamond drilling from 15 drill holes were completed at the Selinsing property. Drill results were released subsequent to the year-end in July, 2011, indicating that the high-grade shoots extended below the existing pit, and mineralization is still open at depth.
• A mineral resource pipeline was developed in Malaysia. Famehub properties were acquired, and a memorandum of understanding was signed to acquire a 70-per-cent interest in Mengapur polymetalic project during the year. Subsequent to the end of fiscal 2011, 49 per cent of the Mersing gold project was acquired through an earn-in-agreement.

Robert Baldock, president and chief executive officer, stated: "In fiscal 2011, the company has achieved its major milestone of commercial production, with a 10-per-cent increase of gold production. Management is now focusing on its next move, aimed to increase its resource pipelines and take the company to a new era of business development towards a mid-tier producer. We will continue to increase exploration activities, improve drilling programs and seek new targets in the Southeast Asia region."

                                    PRODUCTION STATISTICS

                                       Three months ended   Three months ended       Year ended
                                            June 30, 2010        June 30, 2011    June 30, 2011
Mining
Ore mined (tonnes)                                662,330              237,342          740,909
Waste moved (tonnes)                            2,326,502              700,968        2,707,598
Stripping ratio                                      3.51                 2.95             3.65
Ore stockpiled (tonnes)                           387,545              773,432          773,432
Process
Crushed ore (tonnes)                              274,786               87,038          355,021
Ore processed (tonnes)                            272,120               86,540          351,999
Average mill feed grade (grams per tonne)            3.08                 4.58             4.31
Processing recovery rate (percentage)                58.7                 94.1             92.9
Gold produced (ounces)                             13,793               12,136           44,438
Gold sold (ounces)                                 13,793               10,936           40,438
Revenue (in thousands of U.S. dollars)*            16,316               16,618           56,627
Cash cost (U.S. dollars per ounce)
Mining                                                 64                   53               53
Processing                                             90                  138              120
Royalties                                              62                   76               69
Operations                                             --                   (5)              --
Total cash cost (U.S. dollars per ounce)              216                  262              242

*Prior to achieving commercial production in September, 2010, gold sales of $20,563,292 (U.S.)
 and related production costs were capitalized against the Selinsing gold property.

Financial results and discussion

For the year ended June 30, 2011, the company recorded gold sales of $52,379,851 (U.S.), produced 44,438 ounces of gold and sold 40,438 ounces of gold at an average realized price of $1,400 (U.S.) from its Selinsing gold mine. Gold sales for July and August of $4,247,500 (U.S.) and related production costs were capitalized against the Selinsing gold property. The operation generated an income of $35,374,349 (U.S.) net of operating and corporate expenses, or 21 U.S. cents per share. This was reduced to a net income of $31,252,160 (U.S.), or 19 U.S. cents per share, after other losses and taxes, compared with a net loss of $3,034,838 (U.S.), or two U.S. cents per share, reported for the corresponding period in fiscal 2010. The other losses were mainly due to $5,905,306 (U.S.) caused by changes in fair value on derivative liabilities and accretion expense related to convertible debt, offset partially by interest income.

Financing activities

On Aug. 11, 2010, a financing totaling $13-million was closed, and comprised the private placement of $7,653,600 (U.S.) ($8-million) in convertible notes and a $4,753,500 (U.S.) ($5-million) forward sale of gold.

The proceeds are for the planned exploration programs, for closing the acquisition of a prospective exploration property adjacent to the Selinsing gold project, where the company's gold treatment plant is located, and for the gold treatment plant extension with a second mill. With the additional financing, the company expects to be able to increase gold resources and enhance gold production through increased plant throughput.

We seek Safe Harbor.