Mr. George Molyviatis of GoldMet reports

GOLDMET EXERCISES WARRANTS OF MONUMENT MINING LIMITED

GoldMet BV, further to its news release of July 16, 2012, has exercised common share purchase warrants to acquire 24,112,500 common shares of Monument Mining Ltd. at a price of 50 cents per common share for gross proceeds to Monument of $12,056,250. The exercised Monument shares represent approximately 11.6 per cent of the issued and outstanding common shares of Monument.

As a result of the exercise of such warrants, GoldMet now owns 54,112,500 common shares of Monument, representing approximately 26.0 per cent of the issued and outstanding common shares of Monument.

The common shares of Monument are listed on the TSX Venture Exchange under the symbol MMY. The exercised Monument shares were issued from treasury upon the exercise of the warrants. The warrants acquired as described above were acquired pursuant to private transactions.

The warrants noted above were exercised by GoldMet for investment purposes. From time to time, GoldMet may: (i) acquire additional securities of Monument, (ii) dispose of some or all of the securities it holds or (iii) continue to hold its current position, in each case depending on the business and prospects of Monument, GoldMet itself, as well as future market conditions.