Form51-102F  MANAGEMENT’S DISCUSSION & ANALYSIS  For the period ended June 30, 2010  The following management discussion and analysis of Monument Mining Limited (“Monument” or the “Company”) as of September 27, 2010 should be read in conjunction with the audited consolidated financial statements for the year ended June  30, 2010 and related notes, which have been prepared in accordance with generally accepted accounting principles in Canada  (Canadian GAAP). All amounts following are expressed in Canadian dollars unless otherwise indicated. Additional information relating to the  Company’s activities may be found on the Company’s web page at www.monumentmining.com and at www.sedar.com.  Monument, listed on TSX-V (“MMY”), FSE (“D7Q1”), is a resource company engaged in exploration and development of gold  mineral properties. Its primary business objective is to advance its projects from exploration and development to production,  and to increase its gold mineral assets through acquisition of prospective exploration land or gold projects at advanced  development stage. The Company’s Head Office is located in Vancouver, BC, Canada. It operates through its wholly owned  subsidiaries in Pahang State, Malaysia. The Company’s current primary gold properties - Selinsing Gold Project (“Selinsing”) and Buffalo Reef Prospect (“Buffalo Reef”)  - are located in the Central Gold Belt of Western Malaysia. Both properties hold gold resources with opportunity for extension  and lie in the same district as the operating Penjom Mine and Raub Gold Mine, which each host more than one million ounces  of gold resources. Fiscal 2010 started with commencement of open pit mining in July 2009 at Selinsing property, followed by the first gold pour  from the gravity circuit in October 2009. The Phase I gravity circuit was fully commissioned and was placed into pre-commercial  production in January 2010, from which $16 million cash was generated during the year to fund the Phase II CIL (Carbon in  Leach) circuit construction and the first open pit mine operations. The commissioning of the CIL plant was completed  subsequent to the year ended June 30, 2010. Aggregate costs of construction and mine site development as at June 30, 2010  were $17.4 million. In September, 2010, the Company announced commercial production and has become a junior gold  producer. A drill program confirming gold resources at Buffalo Reef was completed in fiscal 2009, except diamond drilling, which together  with further exploration programs has been put on hold for additional financing during fiscal 2010. Subsequent to the year  ended June 30, 2010, the Company closed a $13 million financing through issuance of convertible notes and a gold forward  sale, and immediately completed 32,000 acres prospective exploration land acquisition (Famehub). As a result, the Company  has entered a new stage of growth, to implement strategic regional exploration programs targeting to increase the measured  and indicated resources at both Selinsing and Buffalo Reef properties as well as the Famehub property. On September 22,  2010, the Company announced a $3.4 million exploration program on its Malaysian properties aiming at increasing the gold  resource assets and building up its development pipeline in Malaysia. High Lights for Fiscal 2010 1.2   Overview 1. On July 1, 2009, mining activities commenced at the first open pit of Selinsing property. The Company awarded the  mining contract to Minetech Construction Sdn Bhd. Mining equipment was mobilized to the mine site, and a mining  contractor’s workshop and camp site were established. Excavation started in the first week of July by removing slide  material from an old open pit;  2. In October 2009, the gravity circuit was commissioned and was in pre-commercial production with the first gold pour;  mill through put achieved 32,800 tonnes per month in December 2009;  3. On December 21, 2009, the Company announced it had signed Term Sheets to raise $12 million comprised of a $7  million convertible note and $5 million forward gold sales to fund its continuing exploration programs, the acquisition  of exploration prospective land and the extension of phase III gold treatment plant;  4. In the second quarter of fiscal 2010, the stage 1 tailing storage facilities were completed under monsoon season  conditions, providing storage capacity for 16 months’ tailings discharged from plant production with design allowing  for expansion in lifts over the project expected life of more than 5 years; 5. In the third quarter of fiscal 2010, the manufacturing license for the establishment of the Carbon in Leach processing  plant at the Selinsing Gold Project was issued by the Malaysian federal government; 6 | P a g e