Vancouver - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) 'Monument' or the 'Company' today announced its annual financial results for the year ended June 30, 2022.

All amounts are in United States dollars unless otherwise indicated.

In fiscal 2022, with the restructured gold focused portfolio, Monument concentrated on flotation plant construction at the Selinsing Gold Mine with 69% completion, and the Phase 1 and Phase 2 drilling programs at the Burnakura project for new gold which have been completed subsequent to the fiscal 2022. The corporate development is focused on identification of gold acquisition targets.

Cathy Zhai, the President and CEO commented 'We are pleased to see in fiscal 2022 Murchison Project progressed exploration as planned, Phase 1 drilling lead to the discovery of a high-grade near surface 'Junction Target' and the Phase 2 drilling confirm extensions to known mineralization of existing resources with high potential to enhance its production scale and economics.'

Ms. Zhai further commented: 'Selinsing flotation plant construction in general progressed smoothly. The challenges of the Shanghai COVID-19 lockdown and the worldwide shipping blockage however caused delay of commissioning from June 30 to late November 2022. The concentrate market is hot, and we have made good progress towards an offtake arrangement. Our cash position is adequate to complete the construction, even though Selinsing gold production was volatile during fiscal 2022 and not able to fund development activities.'

Fourth Quarter Highlights

Selinsing Sulphide Project development continued to progress, civil work for flotation plant foundation was completed and the long lead major items of flotation cells, agitators, pumps and thickeners were delivered and installed; Selinsing mining rates were volatile primarily due to depletion of oxide ore transiting to sulphide production: 1,942 ounces ('oz') of gold produced (Q4 FY2021: 1,838oz); 450oz of gold sold for $0.85 million (Q4 FY2021: 3,473oz for $6.08 million); Average annual gold price realized at $1,890/oz (Q4 FY2021: $1,812/oz); Cash cost per ounce sold was $1,282/oz (Q4 FY2021: $1,386/oz); Gross margin decreased by 78% to $0.27 million (Q4 FY2021: $1.27 million); All-in sustaining cost ('AISC') increased to $2,221/oz (Q4 FY2021: $1,647/oz) (section 15 'Non-IFRS Performance Measures').

About Monument

Monument Mining Limited (TSX-V: MMY, FSE:D7Q1) is an established Canadian gold producer that 100% owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison area of Western Australia. It has 20% interest in Tuckanarra Gold Project jointly owned with Odyssey Gold Ltd in the same region. 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, including risks related to changes in mining license rights, tax rates and government royalty requirements; 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; expected mining rights, tax rates, and government royalty requirements in the jurisdictions in which the Company operates 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.

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