Monument advances flotation construction in Canadian business journal Serinsing

VANCOUVER, British Columbia, October 12, 2022 (GLOBE NEWSWIRE) — Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) (“Monument” or “Company”) announced that the flotation construction The gold mine has reached 85% completion on budget. Commissioning, he said, is targeted to be completed in November 2022, followed by a three-month ramp-up period for commercial production in January 2023.

Kathy Zai, President and CEO, commented: The installation is proceeding rapidly under close supervision. In the meantime, we continue to communicate with potential buyers, review key terms, and optimize our marketable gold concentrates for better economic performance. “

construction highlights

• The entire project is 85% completed on budget to date.
• Equipment continues to arrive at the Selinsing site. Concentrated filter press, later than expected, she set sail on September 24 and is expected to arrive in early November 2022.
• Pre-commissioning (dry & wet) will start in October. Full commissioning is targeted for late November or early December 2022.
• Initial concentrate production is expected to begin in late November 2022, ramping up to full production scheduled for January 2023.

Flotation design and engineering

To date, all work related to flotation detail design and engineering has been completed, pending submission of an application to upgrade the TNB power supply from 3.8 MW to 4.0 MW.

Procurement

The overall procurement is 89% complete, largely on hold until the filter press is delivered to the site in November 2022.

Most of the equipment was delivered to the Selinsing site, including but not limited to the Beijing flotation cell assembled and delivered by BGRIMM Machinery and Technology Co Ltd (Fig. 1). Concentrates and water recovery thickeners from Metso Outotec. Flotation blowers, compressors and compressed air dryers from Atlas Copco.

Fast fill flotation reagent was purchased pending delivery. Global supply chain issues related to the COVID-19 pandemic have increased transportation costs, offset by mine development costs. Some reagent consumables are delivered and stored in the reagent warehouse building.

Figure 1: Flotation plant circuit diagram

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3a06e4ae-caf3-4456-a4f5-472cc9cb5517.

construction

Construction work includes foundation and civil engineering work, steel frame work, manufacturing and installation of factory equipment, piping work, electrical wiring work, installation of plant automation systems, installation of electrical equipment, and plant infrastructure including reagent warehouses, stock solution storage yards, and drainage facilities. consists of the installation of in the plant area.

Construction of flotation plant To date, we have achieved 85% completion. The earthwork, foundation, and plumbing connecting the reagent tanks and air supply system to the flotation cell circuit has been completed. Installation of civil and structural works is 100% complete. The mechanical installation is 96% complete with all reagent tanks, flotation cells and concentrators installed. Pipe racks are installed from the reagent building to the flotation circuit, from the concentration tank to the concentration filtration building, and from the flotation circuit to the water recovery concentration tank. The electrical installation is 81% complete and the control room is 100% complete. A pipeline is laid and connected to the pump. Cable tray electrical work and cable pull-in is 60% complete.

A flotation plant is equipped with a plant automation system consisting of a SCADA system and process instrumentation monitoring equipment. All pumps, flotation cell circuits, thickening filters, thickening concentrators, blowers and air compressors are controlled using a program logic control system (PLC Siemens & Allen Bradley). A 750kVA standby generator will be installed as an emergency power source in the event of a power outage to keep essential services running. Enertech Sdn Bhd (Siemens Distributor in Malaysia) provided the control system hardware and software. The control system panel (PLC) hardware was delivered to the site and installed in a prefabricated substation (E-House) along with the motor control center panel (MCC).

Other infrastructure Including: reagent warehouses, air service buildings, concentration filter buildings, and other facilities. Constructed a reagent storage warehouse and an air service building. The foundation and steel frame work has been completed, and an injection pump has been installed in the reagent building. Equipped with a plate work bag breaking machine and a reagent mixing tank with a stirrer. Compressors and flotation blowers are located in the Aviation Services Building. Foundation and structural work on the Concentrate Filter Building (Figure 2) has been completed, and the roof and cladding are mostly complete, awaiting installation of the filter press.

Figure 2: Concentration filter construction

Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bffdbda0-fef3-459d-b83f-93a02469f1e2.

mine development

Pre-stripping and sulfide ore reserve mining commenced at Buffalo Reef in July 2022 in preparation for completion of the flotation plant, commencement of commissioning and ramp-up of production. Construction of the Tailings Storage Facility (“TSF”) has been completed to meet this year’s tailings storage requirements. The river diversion at Buffalo Reef has been completed.

commissioning

Commissioning work began in October and is expected to be completed in November 2022. The scope of commissioning work is divided into dry, wet and ore commissioning. Once the commissioning work is completed, production will begin.

About monuments

Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) is a well-established Canadian gold producer who owns and operates the Selingsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison region of Western Australia. He has a 20% interest in the Tuckanarra Gold Project, co-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, health and safety of its employees and neighbors.

President and CEO Kathy Zai
Monument Mining Limited
Suite 1580-1100 Melville Street
Vancouver, BC V6E 4A6

For more information, please visit the company’s website at www.monumentmining.com or contact us at:

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

“Neither the TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.”

Forward-Looking Statements

This news release contains statements that contain forward-looking information regarding Monument, its business and future plans (“forward-looking statements”). Forward-looking statements are statements about expectations, plans, objectives, or future events that are not historical facts and do not reflect our plans for mineral projects and the proposed programs and events referred to in this news release. Includes timing and results. Forward-looking information is generally disclosed using forward-looking terms such as “plans,” “expects,” “does not expect,” “expects,” “budget,” “planned,” and “estimate.” can be identified using “predict,” “intend,” “predict,” “do not predict,” or “believe,” or variations of such words or phrases, or that a particular action, event, or outcome “may” ‘, ‘could’, ‘could’, ‘could’, ‘may’ or ‘obtained’, ‘occurred’ or ‘achieved’. The forward-looking statements contained in this news release are subject to various risks, uncertainties and other factors; therefore, actual results or achievements may not be expressed or implied by the forward-looking statements. may differ significantly from These risks and certain other factors include, but are not limited to: risks associated with general business, economic, competitive, geopolitical and social uncertainties; uncertainty about the outcome of current exploration activities; uncertainty about the progress and timing of development activities; foreign business risks; other risks inherent in the mining industry and other risks described in our management’s discussion and analysis and technical reports on our projects. All of this is available in his SEDAR company profile at www.sedar.com. Significant factors and assumptions used in making the forward-looking statements in this news release include: the estimated cash cost per ounce of gold production and the potential Expectations regarding certain projected cash flows, general economic factors and other factors that may arise. Outside the control of the monument. assumptions and expectations regarding the exploration results of our projects; assumptions about the future price of gold in other minerals; the timing and amount of projected future production; the expected timing and outcome of development and exploration activities; costs of future activities; capital and operating expenditures; successful exploration activities; mining or processing problems; exchange rates; and all factors and assumptions set forth in our management’s discussions and analyses, and technical reports on our projects. All of these are available under our company profile for SEDAR at www.sedar.com. We have attempted to identify important factors that could cause our actual results to differ materially from those contained in the forward-looking statements, but we do not believe that they could cause results to differ materially from those anticipated, estimated or intended. There may be other factors that There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those projected in such statements. You should not place undue reliance on forward-looking statements. We do not undertake to update any forward-looking statements, except in accordance with applicable securities laws..

CBJ Newsmaker