Monument's 2012 Third Quarter Production

Gold Production of 10,676 ounces

VANCOUVER, May 14, 2012 /CNW/ - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") today reports its third quarter production results for the three months ended March 31, 2012. Full financial and operating results for the quarter will be released by the end of May 2012. All amounts are in United States dollars unless otherwise indicated.

The third quarter gold production was 10,676 ounces compared to 11,904 ounces for the same quarter in the previous fiscal year. The average realized price per ounce of gold sold was $1,698 this quarter compared to $1,404 for the corresponding quarter in the previous fiscal year, an increase of 21%. The average processing recovery rate was 93.3% for the three month period. Robert Baldock, CEO and President of Monument Mining, said: "The total production has decreased approximately 9% when compared both to the 2011 third quarter and the 2012 second quarter. This was mainly due to the lower mill feed grade and consequently a lower processing recovery rate. The total production level is expected to be increased when the plant capacity is increased pursuant to the ongoing phase III construction, completion of which is expected to occur in June 2012."

	Year ended, Jun. 30, 2010		Year ended, Jun. 30, 2011		Three months ended, Sep. 30, 2011		Three months ended, Dec. 31, 2011		Three months ended, Mar. 31, 2012
Mining
Ore mined (tonnes)	662,330		740,909		124,736		128,557		140,168
Waste moved (tonnes)	2,326,502		2,707,598		719,080		686,995		744,914
Ore stockpiled (tonnes)	387,545		773,432		813,175		859,011		915,347
Process
Crushed ore (tonnes)	274,786		355,021		84,993		82,722		83,833
Ore processed (tonnes)	272,120		351,999		86,343		84,182		83,447
Average mill feed grade (g/t)	3.08		4.31		4.53		5.25		3.37
Processing recovery rate	58.7%		92.9%		95.1%		95.3%		93.3%
Ball mill availability (%)	89.2%		96.1%		97.4%		95.8%		94.8%
Sales
Gold produced (oz)	13,793		44,438		11,846		11,736		10,676
Gold sold (oz)	13,793		40,438		8,372		12,765		7,301
Revenue (in 000's) ^(1)	$16,316		$56,627		$14,430		$21,084		$12,394
Average realized gold price per ounce	$1,183		$1,400		$1,724		$1,652		$1,698

(1)	Prior to achieving commercial production in September 2010, gold sales and related production costs were capitalized against the Selinsing Gold Property and construction of the gold treatment plant.

Please visit our website at www.monumentmining.com for more information.

Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 910- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1

"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."

Forward-Looking Statement

This news release contains forward-looking statements about Monument Mining Limited ("Monument"), its business and future plans. Forward-looking statements are statements that are not historical facts and include the timing of the proposed programs and events.  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 different materially from those expressed or implied by the forward-looking statements.  These risks and certain other factors include, without limitation, 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. statements regarding the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. 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". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the annual information form of the Company, which is 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 information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information 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 information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

 

Monument Mining Limited: 

Richard Cushing, Investor Relations
Vancouver Office
T: + 1 604 638 1661 x 102
E: [email protected]

Nicholas Kohlmann, Senior Manager, Investor Relations, 
Toronto Office 
T: [phone]
E: [email protected]

CHF Investor Relations - Canada:  

Robin Cook, Senior Account Manager
T: + 1 416 868 1079 x 228
E: [email protected]

Axino AG - Europe:    

Wolfgang Seybold, Chairman
T: + 49 711 25 35 92 40
E: [email protected]