Mr. William Harris reports

Monster Mining Corp. is no longer pursuing the private placement financing previously announced on June 17 and has arranged to complete a larger, non-brokered private placement of up to 30 million units priced at five cents per unit for total gross proceeds of up to $1.5-million.

Each unit shall consist of one common share of the company and one share purchase warrant. Each warrant will entitle the holder to acquire one common share of the company at an exercise price of 10 cents per warrant share for a period of 36 months following the closing date of the private placement. In the event that the company's common shares trade at a 20-day volume-weighted average trading price of 15 cents or greater at any time after four months and one day after the closing date, the issuer may elect to accelerate the expiry date of the warrants by giving notice to the holders thereof, and in such case the warrants would expire 30 days after the notice is given by the issuer.

The proceeds of the financing will be used toward the company's two Yukon projects and for general working capital purposes. All securities issued pursuant to the placement will be subject to a hold period of four months and one day from the date of closing. The financing is subject to regulatory approval.