Monument's Malaysian Bet: Drill Results Signal Major Selinsing Expansion

VANCOUVER, BC – December 03, 2025 – In the world of mineral exploration, a single drill hole can redefine a company's future. For Monument Mining Limited (TSX-V: MMY), the story is unfolding across sixteen drill holes, with initial results suggesting a significant extension to the life and scale of its flagship Selinsing Gold Mine in Malaysia. The company's announcement of high-grade gold intercepts from its new expansion program is more than just a technical update; it's a calculated move to convert promising geology into tangible, long-term value, funded by a robust balance sheet and a clear strategic vision.

Monument has embarked on an ambitious USD $2.5 million, 118-hole drilling campaign designed to look beyond the current boundaries of its mining pits. The goal is to substantially increase gold resources and potentially create a large-scale open pit operation by connecting disparate mineralized zones. The first results from the Buffalo Reef/Felda area are validating this strategy, with significant intercepts that include 7 meters at 4.79 grams per tonne (g/t) gold and 5 meters at a notable 6.33 g/t gold. These early successes are a crucial first step in a multi-stage plan that could reshape the economics of the entire project.

As Monument’s President and CEO, Cathy Zhai, stated, “We are encouraged by the first 16 drill hole assay results... Objective of expansion drilling is aimed to increase gold resources and potentially expanded the life of mine at Selinsing Gold Mine.” This statement underscores a pivotal moment for the Canadian producer, as it actively invests its operational cash flow back into the ground to secure its future production pipeline.

De-Risking the Future: Inside the Drilling Strategy

The press release details a methodical, two-stage approach that financial analysts and industry veterans appreciate for its systematic de-risking of a project's geological potential. The program is focused on the Buffalo Reef/Felda and Selinsing areas, specifically targeting the gaps between existing pits—areas that have remained undeveloped but hold strong potential for shallow mineralization.

At the heart of the strategy is the concept of continuity. Mines become more efficient and profitable when smaller, separate pits can be merged into a single, larger open pit. This reduces waste rock removal, optimizes haulage routes, and simplifies mine planning. Monument's drilling at the gaps between the Buffalo Reef Central (BRC) pits 2, 3, and 4 is designed to prove that the gold-hosting shear structures are continuous. The results so far, such as an intersection of 22 meters at 0.86 g/t gold starting from just 2 meters below the surface, confirm shallow mineralization precisely where the model predicted it could be, effectively stitching the geology together.

Another key highlight, MBRDD601, which returned 7 meters at 4.79 g/t gold, including a richer zone of 5 meters at 6.33 g/t gold, confirmed and extended a poorly drilled gold structure. This is not just about finding more gold; it's about increasing the confidence in the geological model, a critical step for upgrading resources to bankable reserves. The presence of antimony (Sb) in many of these intercepts, such as 3 meters at 4.66 g/t gold and 1.28% antimony, adds another layer of geological understanding and potential economic byproduct value.

The company has allocated significant resources to this effort, with 27 holes already completed and four drill rigs now active on site to accelerate the program. The timeline is aggressive, with drilling targeted for completion by March 2026 and a comprehensive, updated resource estimate slated for October 2026. This updated estimate, compliant with NI 43-101 standards, will be the ultimate report card on this exploration investment and the foundation for the next life-of-mine plan.

From Balance Sheet to Bedrock

This ambitious exploration program is not being funded on hope alone. It is underpinned by Monument Mining's formidable financial performance, a crucial piece of the story often overlooked in technical announcements. The company's recent transition to processing sulphide ore at Selinsing, which became fully operational in 2023, has transformed its cash flow profile. For the first quarter of fiscal 2026, ending September 30, 2025, Monument reported a gross revenue of $32.4 million and a powerful net income of $10.5 million.

This operational success has bolstered the company's treasury, with cash reserves standing at a healthy $62.84 million. This financial strength provides the capital necessary to self-fund major growth initiatives like the current drilling campaign without resorting to dilutive equity financing—a key differentiator in the junior and mid-tier mining space. It allows management to make strategic, long-term investments in resource replacement and expansion, which is the lifeblood of any mining operation.

The market has taken notice. While the stock has seen volatility, a recent 18% rise in November reflects growing investor confidence. The combination of strong production numbers, increasing cash reserves, and now, promising exploration results, creates a compelling narrative for investors seeking exposure to producers with a clear and funded growth trajectory.

A Golden Anchor in Malaysia's Central Belt

The Selinsing Gold Mine's significance extends beyond Monument's portfolio. It is a cornerstone asset within Malaysia's Central Gold Belt, a prolific geological trend that has historically hosted multi-million-ounce deposits. Operating in this well-endowed region provides a distinct advantage, as the geological fundamentals are proven and the potential for new discoveries or extensions remains high. Monument's systematic exploration is a modern approach to unlocking further value from this historic mining district.

The successful expansion of Selinsing would not only benefit Monument but also reinforce the Pahang State's status as Malaysia’s premier gold mining region. As an established Canadian producer, Monument brings rigorous operational standards, including a stated commitment to environmental and social governance, which is vital for maintaining a strong social license to operate.

The current program represents the next logical chapter in Selinsing’s story. Having successfully executed the complex technical transition from oxide to sulphide ore processing—a move that secured an initial six-year mine life extension—the company is now leveraging that success to build an even longer future. The drill results announced are the first tangible evidence that this investment is paying off, pointing toward a future where Selinsing is not just a consistent producer, but a growing, large-scale operation for years to come.