Monument Enters Agreement to Acquire Tuckanarra Gold Project in Western Australia

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[{"type":"text","content":"\n\nVANCOUVER, Aug. 28, 2014 /CNW/ - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) \"Monument\" or the \"Company\" is pleased to announce it has entered into the \"Tenement Purchase Agreement \" with Phosphate Australia Limited (\"POZ\"), a company whose ordinary shares are listed on the Australian Stock Exchange (\"ASX\") for the acquisition of the Tuckanarra Gold Project in Western Australia. \n\nPursuant to the Tenement Purchase Agreement, the Company has agreed to acquire, free and clear of any encumbrances, a 100% interest in the Tuckanarra Gold Project consisting of eight exploration and prospecting licenses and a mining lease application covering a total of 99.73km2 in the Murchison Mining District in Western Australia and containing approximately 100,000 historical indicated and inferred JORC compliant ounces of gold as detailed below. Native title has been extinguished over all the historical gold resources, with the exception of the Miners' Dream resource. There are no private royalty encumbrances.\n\nThe consideration for acquiring the Tuckanarra Gold Project is comprised of A$2,000,000 in cash and the issue of 10,000,000 Monument common shares at a deemed issue price of C$0.25 per share.  The acquisition is subject to satisfactory completion by the Company of due diligence in respect of the Tuckanarra Gold Project and receipt of TSX Venture Exchange acceptance in the case of the Company. \n\nA non-refundable deposit of A$50,000 was paid to secure an exclusivity period for the Company to conduct due diligence, which will be applied against the cash portion of the purchase price upon closing.  The parties have agreed to complete the acquisition five business days after completion of due diligence by the Company and receipt of required approvals of regulatory authorities or such other date as agreed.  The acquisition is expected to be completed by October 24, 2014.\n\nThe Tuckanarra Gold Project is situated approximately 690km north of Perth and straddles the Great Northern Highway, 75km to the south of Meekatharra in the Murchison Province of Western Australia, and approximately 40 Kilometers south west of the Burnakura mill that Monument has recently acquired.  The Tuckanarra land holdings also has a section of the main ore haulage road that can be accessed from the main sealed Perth-Meekathar...

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