Monument Mining Limited Management’s Discussion and Analysis (Form 51 -102F)  For the year ended June 30, 2011  Caution on Forward-Looking Statements  37 |  P a g e Inventory control:  As a result of this review, it was determined that there were no changes in internal control over financial reporting that  have materially affected, or are reasonably likely to materially affect, the internal controls over financial reporting except  the following weakness:  The C ompany’s Inventory system is operated manually , therefore, is exposed to risk of human errors and is not  considered as efficient. Inventory software was purchased but the development has not been completed. The Company  plans to allocate resources subsequent to the year end in completing the design work and implement it with adequate  on-site training.  While the Company’s CEO and CFO believe that the Company’s internal controls over financial reporting provide a  reasonable level of assurance that they are eff ective, they do not believe that the Company’s disclosure controls and  procedures or internal control over financial reporting will prevent all errors and fraud. A control system, no matter how  well conceived or operated, can only provide reasonable, not absolute, assurance that the objectives of the control  system are met.  Statements contained herein that are not based on historical fact, including without limitation statements containing the  words “believes”, “plan”, ‘will’, “estimates”, “intends”, “expects”, and similar expressions, constitute “forward - looking”  statements. Such forward-looking statements involve known and unknown risk, uncertainties and other facts that may  cause the actual results, events or developments to be materially different from any future results, events or  developments expressed or implies by such forward-looking statements. These forward-looking statements are set forth  under the heading “Outlook” if any and elsewhere in the Management’s Di scussion and Analysis and may include  estimates of construction, commissioning and production of the gold treatment plant at Selinsing Gold Mine Project;  exploration results and budgets, mineral reserve and resource estimates; capital expenditures; strategic plans; proposed  financing transactions; estimates of fair value of financial instruments; or other statements that are not statements of  fact. Forward-looking statements are statements about the future and are inherently uncertain, and actual  achievements of the Company may differ materially from those reflected in the forward-looking statements due to a  variety of risks, uncertainties and other factors. The Company’s forward -looking statements are based on the beliefs,  expectations and opinions of management on the date the statements are made, and the Company does not assume any  obligation to update forward- looking statements if circumstances or management’s beliefs, expectations or opinions  should change except as required by law. Given the reasons, risks and uncertainties set forth above readers are cautioned  not to place undue reliance on such forward- looking statements described in the Company’s public filings with securities  regulatory authorities. Important factors that could cause actual result s to differ materially from the Company’s  expectations include uncertainties involved in fluctuations in gold and related commodity prices and currency exchange  rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits;  uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic  return; the issuance of required permits; the changes in environmental legislations in all jurisdictions in which the  Company operates; the need to obtain additional financing to develop properties and uncertainty as to the availability  and terms of future financing; the possibility of delay in exploration or development programs or in construction projects  and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other  governmental approvals and other risks and uncertainties disclosed in the Company’s annual report and other  information released by the Company and filed with the appropriate regulatory agencies. 