Annual Report 2011  Notes to Consolidated Financial Statements  Monument Mining Limited d. Stock options At the Annual General Shareholder s’ Meeting of the Company held on November 9, 2010, the 2010 Stock Option Plan  was approved (the “2010 Plan”) and replaced the 2009 Stock Option Plan. The 2010 Plan increased the maximum  number of the Company’s shares reserved for issuance pursuant to opti on granted under the plan to 28,941,000 from  22,126,000 with other terms intact. According to the 2010 Plan, the Company grants stock purchase options to its  directors, officers, employees and consultants. The number of shares reserved for issuance under the 2010 Plan shall not  exceed 17% of the total number of issued and outstanding shares on a non-diluted basis. The total number of stock  options granted during the year together with previously granted stock options shall not exceed, on a non-diluted basis,  6% for any one Optionee; 15% for Insiders as a group, 2% for any one Consultant; 2% for all Eligible Persons who  undertake Investor Relations Activities. As at June 30, 2011, 29,826,000 stock options have been granted of which  3,505,000 were forfeited, 70,000 expired and 1,451,833 have been exercised, leaving 24,799,167 stock options are still  outstanding and 2,690,000 shares reserved and to be granted under the 2010 Plan.  Stock option activity is as follows:  During the year ended June 30, 2011, 3,920,000 options were granted to employees and a director (2010  –  2,930,000  options were granted to employees, consultants and a director). The following table summarizes the stock options outstanding at June 30, 2011:  Number of common shares under option  Weighted average exercise price  Balance, June 30, 2009  19,676,000)  $ 0.38  Granted  2,930,000)  $ 0.29  Forfeited  (5,000)  $ 0.30  Balance, June 30, 2010  22,601,000)  $ 0.37  Granted  3,920,000)  $ 0.45  Forfeited and expired  (270,000)  $ 0.58 Exercised  (1,451,833)  $ 0.32  Balance, June 30, 2011  24,799,167)  $ 0.38  Options outstanding  Options exercisable  Exercise  Price  Number of common  shares  Expiry date  Weighted average  life (years)  Number of  common  shares  Weighted average  exercise price   $ 0.47 2,900,000  Jul 05, 2012  1.02  2,900,000   $ 0.47  $ 0.38 13,160,000  Aug 15, 2013  2.13  12,910,000   $ 0.38  $ 0.20 1,459,167  Dec 05, 2013  2.44  1,459,167   $ 0.20  $ 0.31 230,000  Dec 05, 2013  2.44  230,000   $ 0.31  $ 0.39 400,000   Dec 05, 2013  2.44  400,000   $ 0.39  $ 0.21 300,000  Feb 09, 2014  2.62  300,000   $ 0.21  $ 0.28 500,000   Jul 29, 2012  1.08  500,000   $ 0.28  $ 0.36 30,000   Dec 17, 2014  3.47  15,000   $ 0.36  $ 0.29 1,600,000   Jun 08, 2013  1.94  700,000   $ 0.29  $ 0.29 500,000  Jun 10, 2015  3.95  250,000   $ 0.29  $ 0.40 3,000,000  Sep 29, 2015  4.25  1,000,000   $ 0.40  $ 0.58 600,000  Nov 30, 2015  4.42  -   -  $ 0.68 120,000  Jan 27, 2016  4.58  -   - Total  24,799,167  2.36  20,664,167  $ 0.38  61 |  P a g e