Annual Report 2011  Monument Mining Limited At the middle of fiscal 2011, the Company proceeded with the Phase III expansion plan for the Selinsing gold treatment  plant, under which the plant capacity will be upgraded from 400,000 TPA to 1,000,000 TPA. The expansion includes an  additional milling, gravity and leach circuit, and requiring approximately $8.1 million to build. The expansion has a  projected payback period of approximately two months cash flow and is scheduled to be in full operation by May 2012.  This plant expansion will not only provide an increase in production capability and operating efficiency but will also  provide necessary operating flexibility for processing blended feed as the operations mature. Extensions to the ore zones  identified by our exploration efforts along strike and down dip are likely to produce an increase in variability of ore types  and our in-house design team has taken this into account.  In conjunction with the Phase III Gold Plant Expansion the Company is expanding the tailing storage facility  (“TSF”),  which  once completed will accommodate 10 years of discharge for a total of 11 million tonnes. The upgraded TSF is projected  at a cost of $1.3 million with completion in December 2011. Gold Plant Phase III Expansion  6 |  P a g e