Vancouver - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) 'Monument' or the 'Company' is pleased to announce that it has entered into a Joint Venture Arrangement (the 'Transaction') with Odyssey Energy Ltd (proposed to be renamed Odyssey Gold Ltd) (ASX: ODY) to advance the Tuckanarra Gold Project ('Tuckanarra') located in the Murchison Goldfield.

Tuckanarra is currently 100% owned by Monument through its Australian subsidiary Monument Murchison Pty. Ltd. ('Monument Murchison'), which also holds 100% of the Burnakura and Gabanintha Gold Projects ('Murchison Gold Projects') as its primary high-grade gold development projects in the Meekatharra district. Subject to the closing of the Transaction, ODY will own 80% of Tuckanarra and develop Tuckanarra together with Monument under an unincorporated joint venture.

TRANSACTION HIGHLIGHTS

Sell 80% of Tuckanarra interest for consideration of AUD$5 million cash subject to certain conditions; Retain a 1% NSR royalty over Odyssey's 80% shared interest; Retain a 20% interest in Tuckanarra Project free carried until a decision to mine; Preferentially process ODY's gold ore through Monument's Burnakura gold plant subject to commercial terms; Jointly develop the Tuckanarra Gold Project through an unincorporated joint venture.

President and CEO Cathy Zhai said: 'The JV arrangement with Odyssey is a strategic move by the Company to divest Tuckanarra, one of our quality gold projects, allowing it to be advanced faster and have our team focus on the primary highly prospective gold projects Burnakura and Gabanintha, former mining centers in Meekatharra and Cue region, and move these two projects closer to production through our existing infrastructure. This strategy will complement our Selinsing Gold Project in Malaysia, which has been in production since 2010 and has produced over 315,000 ounces of gold to date.'

Ms. Zhai further commented: 'We are excited to work with the Odyssey team, a part of Apollo Group in Perth which has a long and successful history of exploring and developing mining assets around the world. Apollo Group collectively has financed in excess of $1bn of mining projects. We are open to all opportunities to increase our shareholders value as a whole.'

To date Monument has defined a total 381,000 ounces of gold resources under NI43-101 standards at Burnakura from its three gold projects, all acquired in 2014 with an aggregate historical gold resources of 644,000 ounces under JORC standards, of which 81,000 ounces were attributed to Tuckanarra. ODY plans to progressively explore high grade opportunity at Tuckanarra after closing the Transaction.

Tuckanarra is directly adjacent to the Stakewell Gold Project that was recently acquired by ODY. Together ODY will own tenements covering 25km of strike of highly fertile banded iron formation ('BIF') and greenstones with extensive gold mining history. Given Odyssey access to Monument's Burnakura gold process plant located 25km from Odyssey's projects, Odyssey will preferentially process ores extracted from both projects, subject to commercial terms at the Burnakura gold processing plant.

About Monument

Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) is an established Canadian gold producer that operates the 100% owned Selinsing Gold Mine in Malaysia. Its experienced management team is committed to growth and is advancing several exploration and development projects including the Mengapur Copper and Iron 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 200 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.

Contact:

Richard Cushing

Tel: +1-604-638-1661

Email: rcushing@monumentmining.com

Forward-Looking Statement

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 sec

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