Monument Mining Limited Management’s Discussion and Analysis (Form 51 -102F)  For the year ended June 30, 2011  Mersing Project 1.2.2 Projects Update  Selinsing Gold Project Resources  The Selinsing Gold Project (“Selinsing Project”) is located at Bukit Selinsing near Sungai Koyan, approxima tely 65 km  north of Raub and 40 km west of Kuala Lipis on the lineament known as the Raub Bentong Suture, at approximately  04015’00”N latitude, 101047’10”E longitude. The resources of  the Selinsing Gold Project are comprised of an indicated  mineral resource of 3,630,000 tonnes at 1.76 gpt, using a cutoff of 0.75 gpt for contained ounces of 205,000 ounces of  gold, and an inferred mineral resource of 7,690,000 tonnes at a grade of 1.34 gpt for contained ounces of 330,000  ounces of gold at a similar cutoff grade. It is a near surface open pitable resource that metallurgical test work indicates  and subsequent mill production records confirm recovery between 92% and 95%.  16 |  P a g e On September 14, 2011, subsequent to the year end, the Company has entered into an Earn-In Agreement with a  Malaysian company,  Emas Kehidupan Sdn. Bhd. (“EK”) and its 30% joint venture partners, under which Monument has  the right to earn up to a 100% interest in the Gunung Arong Gold Prospect (the “Mersing Gold Project”) through its  wholly owned Malaysian subsidiary Damar Consolidated Exploration Sdn. Bhd.  The Mersing Gold Project is held through mining certificate #1221 (“MC 1221”) for 256 hectares of prospective land,  located approximately 30 kilometers north-west of Mersing Town in Jahore State, Malaysia. The original Malaysian Geological Survey identified a widespread geochemical anomaly that follows the north-west  regional structural trend running for more than 30 kilometers, commencing near the beach at Kampung Sri Pantai  running inland toward the Mersing Gold Project. The presence of widespread quartz veining within the highly deformed  metasediments, sulphide mineralization and free gold showing in the vein material, and the evidence of substantial  alluvial mining and processing activities indicate that the Mersing Gold Project has potential to host primary gold  mineralization. To date, the area has not been systematically explored for its primary gold potential and no production  details are available.  Exploration at the Mersing Gold Project will provide an opportunity to understand the geological nature of gold  mineralization within the Mersing district and, if successful, will create an opportunity for further discovery along the  structural trend as defined by the Mineral and Geosciences Department of Jahore State. The Company has been  investigating on this property for over two and a half years including field visits since 2008. Monument will initiate the first two year earn-in period by paying CAD 500,000 cash and, subject to TSX Venture  Exchange acceptance, issuing 1,500,000 fully paid Monument shares to the vendors in exchange for 70% of the shares in  EK (which holds a 70% interest in the Mersing Gold Project), and accordingly a 49% interest in the Mersing Gold Project.  Initiation of the first two-year earn-in period results in an exploration obligation totalling CAD 2,000,000 to be completed  within two years. The Company has the right to earn a further 21% interest in the Mersing Gold Project by making either, at the option of  the vendors, a further CAD 1,500,000 cash payment to the vendors or by issuing 2,500,000 fully paid Monument shares  to the vendors in order to acquire the remaining 30% of the issued EK shares bringing its interest in the Mersing Gold  Project to 70%. Initiation of the second two-year earn-in period results in a further exploration obligation totalling CAD  2,000,000 to be completed by Monument within two years. Upon reaching a 70% ownership level in the Mersing Gold Project, the Company has the right, over the following 180 day  period, to buy out the remaining 30% interest achieving 100% ownership in the Mersing Gold Project. The consideration  of buy-out will be based on an independent valuation and be paid in cash or by issuing shares of Monument at the  option of the vendors. Throughout these arrangements, Monument will be the sole operator and manager of the  Mersing Gold Project.  On September 26, 2011, the Company initiated the first earn-in-period by issuing 1,500,000 fully paid common shares of  the Company and $486,239 (CAD 500,000) in cash to vendors in exchange for 70% shares in EK, in turn, 49% interest in  the Mersing Gold Project. 