VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 8, 2016) – Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) “Monument” or the “Company” is pleased to announce the appointment of Mr. Klaus Eckhof as an independent Senior Geological Adviser to the Company to acquire, develop and review potential gold property transactions within the Democratic Republic of Congo (“DRC”) to build an inventory of significant gold resources within the country.
Mr. Eckhof is a senior qualified and experienced geologist with extensive understanding of the African continent, particularly within the DRC. He has spent 20 years in the region and has successfully identified, acquired, drilled up or been instrumental in acquiring and establishing considerable gold, base metal (multi metal, tin and copper resources) within a number of companies such as the Kibali gold deposit of 20 million ounces of gold, Tiger Resources, Alphamin Resources, Lafayette Mining and Spinifex Gold et al.
Monument has enlisted the services of Mr. Eckhof due to his wide knowledge of the regional geology and experience in the North East of DRC especially also in the South Kivu area. He was instrumental in directing the exploration team that established the Kibali gold deposit to more than 20 mill ounces of gold that was sold to Randgold in 2009 and has established a number of successful exploration initiatives in junior gold explorers. The Kibali project has since been developed into an operating gold mine with reserves and resources exceeding 20.0 M ounces of gold and now producing more than 550,000 ounces of gold per year at cash cost of between US$650 – 700 per ounce for the owners.
The Company is seeking opportunities in DRC and has spent time since late calendar 2014 in understanding and conducting due diligence in-country to better understand opportunities that may present themselves. There have been some notable transactions in Africa generally, and in DRC specifically. Management has undertaken a visit to the capital Kinshasa in 2015 to arranged meetings where several mining conferences have been hosted by the government recently to attract interest from the mining industry and others. Monument is an established mine builder and operator and looks for opportunities where its skills can be an advantage in a transaction that has potential to be placed into production in the short to medium term. The Company believes that Mr. Eckhof can assist in this process of building an inventory of gold ounces in the DRC.
Monument Mining Limited (TSX VENTURE:MMY)(FRANKFURT:D7Q1) is an established Canadian gold producer that owns and operates the Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is advancing several exploration and development projects including the Mengapur Polymetallic Project, in Pahang State of Malaysia, and the Murchison Gold Projects comprising Burnakura, Gabanintha and Tuckanarra in the Murchison area of Western Australia. The Company employs approximately 300 people in both regions and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities.
Robert F. Baldock, 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.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
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 and the timing and results of 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; 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; the expected timing and results of development and exploration activities; 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.