Monument's Phase I Drilling Program Confirms Previous Drill Results on Buffalo Reef Project



    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES/

    VANCOUVER, Feb. 4 /CNW/ - Monument Mining Limited (TSX-V:MMY and
FSE:D7Q1) ("Monument" or the "Company") is pleased to announce the first assay
results from 1,000 metres of confirmation drilling during the second quarter
of fiscal 2008 on Buffalo Reef Project, located in the Mukim of Hulu Jelai,
District of Kuala Lipis, as part of the northwest Pahang State of Peninsular
Malaysia.
    The gold deposit on Buffalo Reef Project is part of the 4.2km continuous
and contiguous ductile & brittle north trending shear hosted gold
mineralization. This shear zone is believed to be related to thrusting. The
current drilling program is planned to test the gold deposition along the
north trending shear system that dips moderately to steeply to the east. At
Selinsing which represents the southern part of the system, the deposition of
gold is associated with multiple parallel high grade quartz fissure veins
within the 200m width of ductile and brittle shear zone.
    In September 2007, the Company announced commencement of the Phase I
Exploration Program on Buffalo Reef Project. The phase I drilling program
involves 1000m of RC drilling and 1400m of Diamond Drilling. The purpose of
the Phase I program is to confirm previous results, achieve a better
understanding of Buffalo Reef Project and to undertake both confirmation RC
drilling as well as some diamond drilling as recommended by Vancouver
consultants Orequest Consultants Ltd. in its NI-43-101 Summary Report on the
Buffalo Reef Project filed on SEDAR on 19th June 2007. To date Monument has
completed the stage 1 RC drilling program. The first assay results have been
reported in January, 2008 by Ultratrace Pty Ltd Analytical Laboratories of
Perth, Western Australia, a NATA accredited laboratory which complies with
requirements of ISO/IEC 1725:2005. The assay results are summarized in
Table 1.

    
    Table 1. Assay Results Summary
    -------------------------------------------------------------------------
                                                Downhole       Average Grade
    HOLE                FROM         TO     thickness (m)              (g/t)
    -------------------------------------------------------------------------
    MBRRC0003             41         54               13m               5.76
    -------------------------------------------------------------------------
           Includes       46         48                2m               26.9
    -------------------------------------------------------------------------
    MBRRC0004             43         45                2m               7.77
    -------------------------------------------------------------------------
           Includes       43         44                1m               14.3
    -------------------------------------------------------------------------
    MBRRC0004             50         54                4m               1.46
    -------------------------------------------------------------------------
    MBRRC0004             59         61                2m               6.34
    -------------------------------------------------------------------------
    MBRRC0004             63         64                1m               4.62
    -------------------------------------------------------------------------
    MBRRC0005             25         28                3m               3.09
    -------------------------------------------------------------------------
    MBRRC0005             29         30                1m               8.74
    -------------------------------------------------------------------------
    MBRRC0005             32         36                4m               3.61
    -------------------------------------------------------------------------
    MBRRC0006             32         35                3m                5.5
    -------------------------------------------------------------------------
    MBRRC0007             24         26                2m               1.35
    -------------------------------------------------------------------------
    MBRRC0007             35         42                7m               2.43
    -------------------------------------------------------------------------
    MBRRC0008             48         55                6m                1.3
    -------------------------------------------------------------------------
           Includes       54         55                1m               4.96
    -------------------------------------------------------------------------
    MBRRC0009              7         14                7m               3.99
    -------------------------------------------------------------------------
           Includes        9         13                4m               6.13
    -------------------------------------------------------------------------
    MBRRC0009             48         49                1m               2.79
    -------------------------------------------------------------------------
    MBRRC0010              4          8                4m               3.28
    -------------------------------------------------------------------------
    MBRRC0011             19         26                7m               5.51
    -------------------------------------------------------------------------
           Includes       24         25                1m               17.6
    -------------------------------------------------------------------------
    MBRRC0012             23         27                4m               5.48
    -------------------------------------------------------------------------
    MBRRC0013              5          9                4m               2.58
    -------------------------------------------------------------------------
    MBRRC0014              5         12                7m               1.29
    -------------------------------------------------------------------------
    MBRRC0015             16         19                3m               5.48
    -------------------------------------------------------------------------
    MBRRC0016             16         27               11m               5.91
    -------------------------------------------------------------------------
           Includes       21         23                2m              16.85
    -------------------------------------------------------------------------
    MBRRC0017             29         36                7m               4.11
    -------------------------------------------------------------------------
    MBRRC0017             30         33                3m                7.6
    -------------------------------------------------------------------------
    

    The first 1000m of the RC confirmation drilling program was conducted at
the southern zone of the Buffalo Reef gold mineralization. The program was
carried out at a nominal 20m x 20m drill pattern that covers a strike length
of approximately 200m. The drillholes were drilled at 60 degrees toward 270
degrees to a downhole depth of 60m to 70m. Mr. Zaidi Huran, Vice President of
Exploration, said: "We are very pleased with the first drilling results. They
demonstrate the good continuity of mineralization along strike and down dip
and at the same time it is expected to upgrade the resources category from
inferred to indicated and measured."
    The diamond drilling as part of Phase I program will be conducted once
the diamond drill rig is made available towards the end of the third quarter
of fiscal 2008. In the meantime the Phase II RC drilling program has
commenced. The Phase II Drilling program involves 10,000m of RC Drilling which
is planned to be carried out at a nominal 20m x 20m drill pattern that will
cover a broadly defined 1.5 km strike length of the Southern and Central ore
body and 800m of mineralization at the Northern ore body. This exercise will
also test the dip extension of the ore body at all three discreet
mineralization areas as well as a possible extension of the ore body along the
strike length.
    Michael Andrew AusIMM, of Snowden Mining Industry Consultants Pty Ltd, a
qualified person under National Instrument 43-101, is overseeing the drilling
program and quality assurance and quality control ("QAQC") programs on behalf
of Monument Mining Limited and has reviewed the contents of this news release.
    Monument's program includes rigorous QAQC procedures. Ultratrace Pty Ltd
Analytical Laboratories of Perth, Western Australia, a NATA accredited
laboratory which complies with requirements of ISO/IEC 1725:2005, and an
accredited quarantined laboratory for handling imported samples, performs the
sample pulverization and assaying for the project. Gold analysis is by 40 g
Fire Assay fusion with an Inductively Coupled Plasma-Emission Spectroscopy
(ICP-OES) finish. Monument follows industry standard practice and includes
field duplicates and independently certified standards and blanks, blindly
inserted in the sample stream. This is in addition to the laboratory's
internal quality control work.

    The TSX Venture Exchange has in no way passed upon the merits of the
    proposed transaction and has neither approved nor disapproved the
    contents of this news release.

    The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of the information contained herein. Certain disclosures in this
release, including management's assessment of the Company's plans and
projects, constitute forward-looking statements that are subject to numerous
risks, uncertainties and other factors relating to the Company's operation as
a mineral exploration company that may cause future results to differ
materially from those expressed or implied in such.




For further information:

For further information: Robert F. Baldock, President and CEO, Monument
Mining Limited, Park Place, Suite 500, 666 Burrard Street, Vancouver, B.C.,
Canada, V6C 3P6

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