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3D Mannequin of proposed Sulphide Flotation Circuit Addition to Selinsing Gold Plant

3D Mannequin of proposed Sulphide Flotation Circuit Addition to Selinsing Gold Plant

VANCOUVER, British Columbia, Oct. 14, 2021 (GLOBE NEWSWIRE) — Monument Mining Restricted (TSX-V: MMY and FSE: D7Q1) (“Monument” or the “Agency”) is joyful to announce the progress on flotation plant enchancment On the Selinsing Gold Mine in Malaysia To current saleable sulphide gold focuss. The flotation plant enchancment embraces: enterprise administration, enterprise validation, flotation design and engineering, procurement, enchancment and commissioning.

Charlie Northfield, Widespread Supervisor and the Project Sponsor On the Selinsing Gold Mine, commented: “I am thrilled to report that We’re on schedule for enchancment completion in June 2022. To mitigate The hazard of delays That Can be Launched on by the Covid 19 pandemic As quickly as Shortly, We’re making Our biggest efforts to advance deliverables forward of the schedule. Our capability To maneuver shortly is a testament to the performance and expertise of the on-website group. We’ll current further replaces on the flotation plant enchancment course of Inside the weeks To return.”

Project Management

The enterprise administration group is led by the oversight board chaired by Cathy Zhai, President and CEO, comprising Project Sponsor, Project Supervisor, Project Controller and the Plant Supervisor As a Outcome of the prime consumer. The procurement and engineering group on website are Selinsing staff. Almost all of key enterprise personnel participated Inside The prevailing Selinsing gold plant enchancment work again in 2008 to 2010. Six new staff Shall be recruited at completely different events Inside The enchancment And 4 personnel seconded from The prevailing Selinsing workforce.

Detailed Engineering Design

Following completion of unbiased flotation testwork and modification of conceptual design of the flotation plant by Orway Mineral Consultants (“OMC”) (Check with July 6^th 2021 information launch), the contract for detailed engineering design was awarded to Mincore Pty Ltd. (“Mincore”), an Australia based mostly engineering company.

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The scope Of labor beneathtaken by Mincore embraced: The event of the 3D model of the flotation course ofing plant, preparation Of package specs and knowledge sheets, and enchancment of the administration system for The model new course of gear. Plant design goals To maximise gravity circulate and To current plant entry for upprimarytain whereas permitting The current gravity / CIL plant operation to proceed with out interruption. The plant format design permits for The Prolonged time period addition of the proposed BIOX^® circuit and ancillary works.

As a lot as September 30^th 2021 Mincore has achieved 80% completion of the design work. HAZOP design critiques have been carried out for The model new course of amenities to detime periodine and mitigate any operational Questions of safety. Civil and structural drawings are scheduled for completion on October 31^st 2021; mechanical and piping drawings Shall be issued for enchancment by November 30^th 2021.

Lim Teck Chong, Flotation Plant Project Supervisor, commented: “The worthwhile flotation testwork gave us the inexpertised mild to proceed with all elements of The event of the enterprise. The detailed engineering design is approaching completion and the pilot plant Is predicted to be accomplished this month. Procurement, earthworks, and recruitment have all progressed as we ramp up and put together for civil basis work To start.”

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Procurement

Procurement of long lead gear gadgets has been accomplished and contracts have been awarded for The current of flotation cells, focus and water restoration thickeners, and the focus filter press. Technical and monetary value detime periodinations have been accomplished and contracts are being ready for the air blowers, compressor, slurry pumps and 11kV/415V transformer. Procurement Is fixed for the motor administration centre, agitators, reagent pumps and plate work for conditioning and reagent tanks.

The flotation pilot plant has been delivered to website and is presently being Arrange On the evaluation and enchancment laboratory. The pilot plant Consists of a ball mill and classifier, rougher/scavenger flotation cells and three levels of cleaner flotation To duplicate the circulatesheet of The complete scale flotation plant. The pilot plant Shall be used for operator teaching, reagent trials, and for the preparation of focus samples for potential clients. The pilot plant Is predicted to be absolutely operational earlier than The prime of October 2021.

Danger administration over the long lead gadgets Is Concentrating on intervalical inspection and delivery scheduling, which faces worldwide challenges By way of the pandemic interval.

Construction

Flotation enchancment embraces: earthworks, civil engineering, structural engineering, mechanical and electrical set up and completely different associated plant upgrades.

Contractor Engagement: Suitably expertised Malaysian contractors have been shortlisted for The enchancment work Based on self-discipline comprising: civil and structural, mechanical and piping, and electrical and instrumentation. Most Of these contractors have labored on earlier enchancment phases of the Selinsing operation. The contract has been awarded to reroute The power cables to The primary and secondary ball mills outdoors of The model new flotation plant footprint to primarytain away from any interference all through enchancment work.

Civil Foundation Work: 75% of the earthworks have been accomplished for the plant basiss, and final excavations Shall be carried out once civil drawings have been issued for enchancment. Civil basis work Is predicted to start in early November, starting with The enchancment of the retaining wall extension, and adopted by civil works Inside the flotation space, focus and water restoration thickeners and the filter press constructing. At The identical time the basiss Shall be constructed for The model new warehouse, reagents mixing and air providers constructings.

Transition to Flotation

The manufacturing of flotation focus Is predicted to start in July 2022 as quickly as All of the flotation cells, focus thickener and filter press have been commissioned. In The current manufacturing schedule the CIL plant will proceed operation till commissioning of the flotation plant starts. We’ll primarytain the manufacturing going As long as potential to generate money circulate primarily from Selinsing, Buffalo Reef pits and the Peranggih Prospect, currentd that readers shall understand thOn there Might be an interruption to manufacturing As a Outcome of of Covid pandemic, and there Might be volatility of manufacturing in transition to The model new Lifetime of mine from The prevailing reprimarying Lifetime of mine.

During the interval from late August to The start of October, whereas the CIL plant has proceedd operation all through the time, the elution warmth exchanger however has been offline after 10 years’ of service, and the spare was unanticipatedly found to have failed. Gold pours have been Positioned on primarytain till October when the unit was re-constructed and again in service. An relevant alternative warmth exchanger has been located in Kuala Lumpur and an order has been placed to safe this unit and supply is awaited. The company retains its restore and upprimarytain program going To Guarantee sustained manufacturing as deliberate.

About Monument

Monument Mining Restricted (TSX-V: MMY, FSE:D7Q1) is A longtime Canadian gold producer that owns and opecosts the Selinsing Gold Mine in Malaysia. Its expertised administration group is dedicated to progress and May even be advancing the Murchison Gold Tasks comprising Burnakura, Gabanintha and Tuckanarra (20% curiosity) Inside the Murchison space of Western Australia. The company employs roughly 200 people in each areas and is dedicated to The very biggest requirements of environmental administration, social obligation, and well being and safety for its staff and neighboring communities.

Cathy Zhai, President and CEO
Monument Mining Restricted
Suite 1580 -1100 Melville Road
Vancouver, BC V6E 4A6

FOR FURTHER Information go to the company Internet website on-line at www.monumentmining.com or contact:

Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 [email protected]

“Neither TSX Venture Commerce nor its Regulation Services Supplier (as that time period is outlined Inside the insurance coverage policies of the TSX Venture Commerce) accepts obligation for the adequacy or accuracy of this launch.”

Ahead-Wanting Assertion

This information launch embraces statements containing forward-looking Particulars about Monument, its enterprise and future plans (“forward-looking statements”). Ahead-looking statements are statements that contain anticipateations, plans, goals or future events That are not historic details and embrace the Agency’s plans with respect to its mineral enterprises and the timing and end outcomes of proposed packages and events referred to On this information launch. Usually, forward-looking information Might be recognized By way of forward-looking time periodinology Similar to “plans”, “anticipates” or “Does not anticipate”, “Is predicted”, “price range”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “Does not anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, events or end outcomes “may”, “could”, “would”, “might” or “Shall be taken”, “happen” or “be achieved”. The forward-looking statements On this information launch are topic To various hazards, unsureties and completely different elements that could set off exact end outcomes or achievements To vary materially from these expressed or implied by the forward-looking statements. These hazards and sure completely different elements embrace, with out limitation: hazards associated to general enterprise, financial, aggressive, geopolitical and social unsureties; unsureties relating to The outcomes of current exploration actions; unsureties Inside the progress and timing of enchancment actions; overseas operations hazards; completely different hazards inherent Inside the mining enterprise and completely different hazards described Inside the administration dialogue and evaluation of the Agency and the technical reviews on the Agency’s enterprises, all of Which Might Even be found beneath the profile of the Agency on SEDAR at www.sedar.com. Supplies elements and assumptions used to develop forward-looking statements On this information launch embrace: anticipateations relating to the estimated money value per ounce of gold manufacturing and the estimated money circulates Which can be generated from the operations, general financial elements and completely different elements That could be past the administration of Monument; assumptions and anticipateations relating to The outcomes of exploration on the Agency’s enterprises; assumptions relating to The Prolonged time period worth of gold of completely different minerals; the timing and quantity of estimated future manufacturing; the anticipated timing and end outcomes of enchancment and exploration actions; prices of future actions; capital and working expenditures; success of exploration actions; mining or course ofing factors; exchange costs; and All of the elements and assumptions described Inside the administration dialogue and evaluation of the Agency and the technical reviews on the Agency’s enterprises, all of Which Might Even be found beneath the profile of the Agency on SEDAR at www.sedar.com. Although the Agency has tried to detime periodine important elements that could set off exact end outcomes To vary materially from these contained in forward-looking statements, there Might Even be completely different elements that set off end outcomes To not be as anticipated, estimated or meant. There Might be no assurance that such statements will show to be right, as exact end outcomes and future events could differ materially from these anticipated in such statements. Accordingly, readers Ought to not place undue reliance on forward-looking statements. The company Does not beneathtake to replace any forward-looking statements, besides in accordance with relevant securities legal guidelines.