CORRECTED NEWS RELEASE - Monument Signs Binding Agreements for 100% of Selinsing and Damar Projects


    VANCOUVER, June 19 /CNW/ - Monument Mining Limited (TSX-V:MON - Changing
to TSX-V:MMY upon re-commencement of trading) ("Monument" or the "Company") is
pleased to announce in relation to the previously announced reverse takeover
("RTO") that it has entered into binding agreements to acquire 100% of the
Selinsing Gold Mine Project ("Selinsing") and 100% of the shares in Damar
Exploration Consolidated ("Damar") which owns the Damar prospects referred to
as the Buffalo Reef Tenements situated directly north and contiguous with the
Selinsing property. Upon closing both acquisitions the Company will have
access to approximately 5 kilometers of prospective exploration land along the
gold trend that hosts the Selinsing and Damar gold resources.
    The Selinsing resource is comprised of an indicated mineral resource of
3,630,000 tonnes at 1.76 gpt, using a cutoff of 0.75 gpt for contained ounces
of 205,000 ounces of gold, and an inferred mineral resource of 7,690,000
tonnes at a grade of 1.34 gpt for contained ounces of 330,000 ounces of gold
at a similar cutoff grade and is described in full in the NI 43-101 Report
filed on SEDAR on 29 September 2006. The NI 43-101 Report on the Damar
property has not been completed but is expected to be completed and filed by
the RTO close, expected to be on Monday 25th June 2007. The closing of the
Damar acquisition is conditional on closing the Selinsing acquisition. To
acquire 100% of Selinsing, Monument will pay to the vendor Wira Mas Trust of
Malaysia $3,500,000 cash, issue 31,400,009 fully paid treasury shares and
5,000,000 share purchase warrants, each warrant exercisable for a period of
two years at $0.65 cents to acquire one fully paid share, and will have a
residual debt of $9,000,000 payable within one year without interest or
penalty if paid within that period.
    To acquire 100% of Damar from Avocet Mining PLC, London UK ("Avocet"),
the Company will pay $1,750,000 cash, issue 15,000,000 fully paid treasury
shares and 7,500,000 share purchase warrants, also exercisable for two years
at $0.65 cents to acquire one fully paid share, as well as a $400,000
exploration program commitment over two years from the close. Any increase in
the Avocet quoted JORC calculated resource of 185,100 ounces of gold using a
cut-off grade of 0.5 g/t would attract a payment to Avocet of US$5.88 per
additional ounce discovered. Both vendors have agreed to enter into a
voluntary pooling agreement in respect of their shares for two years.
    As Monument now moves toward closing these acquisitions, notwithstanding
Monument previously obtained shareholder approval of the RTO, completion of
due diligence and regulatory approval for the acquisition of the Damar
interests and the RTO completion is still required. The Company also has to
raise the required equity capital and Haywood Securities Inc. has been
retained as Agent to assist the Company to raise this capital by way of a
private placement of Units for up to $9,000,000 with the ability to accept up
to a further $5,000,000 by way of over-allotment. Each Unit is being sold at
$0.50 per Unit and comprises one share and one-half of a warrant, exercisable
for a period of two years, at $0.65 per share.

    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.

    Not for distribution to U.S. news wire services or dissemination in the
United States. 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, V6Z 2K8

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