VANCOUVER, British Columbia, June 01, 2026 (GLOBE NEWSWIRE) — Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its financial results for the three months (“Q3 FY 2026”) and nine months ended March 31, 2026 (“YTD FY 2026”). All amounts are in United States dollars unless otherwise indicated (refer to www.sedar.com for full financial results).
President and CEO Cathy Zhai commented, “We are very pleased that the Company has reached a net profit of $22.65 million during Q3, or net earnings of $0.07 per share, which bringing year to date net profit to $53.31 million, or net earnings of $0.15/share. The Selinsing Gold Mine in Malaysia continues delivering favorable production results, together with high gold price, the Company’s cash and cash equivalent, and short-term investments in term deposits reached to $101.76 million high, which shall support the Company’s growth initiatives.”
Ms. Zhai commented on cash deployment to mine expansion program: “Our capital allocation strategy remains focused on creating long-term shareholder value through disciplined investment in our core assets. Exploration drilling at Selinsing continued to demonstrate resource expansion and mine life extension potential, while at Murchison we advanced regulatory, technical, and development planning activities, including evaluation of processing plant alternatives. We believe these initiatives provide attractive opportunities to support future growth and maximize the value of our projects.”
Ms. Zhai further added: “In January 2026, early in Q3, the Company issued its first special dividend to shareholders, reflecting both its appreciation for shareholder support and its ongoing commitment to delivering shareholder returns.”
THIRD QUARTER OF FISCAL YEAR 2026 HIGHLIGHTS:
- Net profit of $22.65 million (Q3 2025: $4.86), or $0.07 per share (Q3 2025: $0.01/share) for Q3 FY 2026, bringing year to date net profit to $53.31 million, or $0.15/share;
- Gross margin of $32.47 million for Q3 FY 2026, a 160% increase compared to $12.51 million in Q3 FY 2025;
- $101.76 million of cash & cash equivalent ($11.16 million) and short-term investments ($90.60 million term deposits over 90 to 180 days) held by the Company compared to $45 million cash & cash equivalent on June 30, 2025.
- Working capital of $108.85 million, representing an increase of $50.31 million from $58.54 million at the end of June 30, 2025;
- Production performance:
- 11,700 ounces of gold produced during the three-month period (Q3 FY 2025: 9,543 ounces);
- 10,478 ounces of gold sold at a record average realized price of $5,166/oz for gross revenue of $47.04 million (Q3 FY 2025: 8,399 ounces sold at an average realized price of $2,945/oz for gross revenue of $19.85 million);
- Cash cost of $1,390 per ounce sold (Q3 FY 2025: $874/oz), reflecting higher royalty expenses and other government fees associated with the record-high average realized gold price achieved during the quarter;
- All in sustaining cost of $1,583 per ounce sold for Q3 FY 2026, compared to $1,366/oz in Q3 FY 2025.
- Extensive exploration drilling activities were carried out successfully at Selinsing during Q3 FY 2026, supporting continued resource growth potential and future mine life extension opportunities;
- A Special Dividend was announced on December 11, 2025, with record date of January 5, 2026, and paid out on January 19, 2026.
- On February 18, 2026, the Company was recognized as one of the top-performing companies on the TSX Venture Exchange (“TSXV”) for 2025, earning a place on the 2026 TSX Venture 50™ list.
Summary of Third Quarter Fiscal Year 2026 Production and Financial performance
| Three months ended March 31, | Nine months ended March 31, | ||||
| 2026 | 2025 | 2026 | 2025 | ||
| Production | |||||
| Ore mined (tonnes) | 224,398 | 217,303 | 645,877 | 532,531 | |
| Waste removed (tonnes) | 2,154,912 | 2,079,437 | 6,002,316 | 6,454,008 | |
| Gold Sulphide Production | |||||
| Ore processed (tonnes) | 243,367 | 191,664 | 707,518 | 550,976 | |
| Average mill feed grade (g/t) | 1.67 | 1.76 | 1.72 | 1.78 | |
| Processing recovery rate (%) | 89.75 | 88.20 | 89.69 | 83.49 | |
| Gold produced (oz) (1) | 11,700 | 9,543 | 35,040 | 26,215 | |
| Gold sold (oz) | 10,478 | 8,399 | 35,429 | 26,656 | |
| Financial(expressed in thousands of US$) | $ | $ | $ | $ | |
| Revenue | 47,039 | 19,847 | 128,669 | 59,015 | |
| Gross margin from mining operations | 32,473 | 12,511 | 86,452 | 35,664 | |
| Net Income before other items | 28,212 | 9,296 | 69,682 | 26,321 | |
| Net income | 22,649 | 4,863 | 53,306 | 16,699 | |
| Cash flows provided by operations | 27,264 | 11,322 | 68,352 | 29,720 | |
| Working capital | 108,850 | 38,929 | 108,850 | 38,929 | |
| Earnings per share – basic and diluted (US$/share) | 0.07 | 0.01 | 0.15 | 0.05 | |
| Weighted average gold price | US$/oz | US$/oz | US$/oz | US$/oz | |
| – | |||||
| Realized price – sulphide production | 5,166 | 2,945 | 4,262 | 2,718 | |
| Cash cost per ounce sold | |||||
| Mining | 369 | 229 | 331 | 238 | |
| Processing | 275 | 296 | 277 | 298 | |
| Royalties | 648 | 257 | 481 | 245 | |
| Rehabilitation fund levy | 45 | 24 | 36 | 22 | |
| Other cost of sales | 53 | 68 | 67 | 73 | |
| Total cash cost per ounce sold (2) | 1,390 | 874 | 1,192 | 876 | |
| Operation expenses | 2 | 4 | 1 | 5 | |
| Corporate expenses | 6 | 39 | 3 | 17 | |
| Accretion of asset retirement obligation | 5 | 7 | 5 | 6 | |
| Sustaining exploration and evaluation expenditures | 3 | 20 | 1 | 9 | |
| Sustaining capital expenditures | 177 | 422 | 121 | 311 | |
| Total all-in sustaining costs per ounce sold (3) | 1,583 | 1,366 | 1,323 | 1,224 | |
| (1) Out of total 11,700 ounces of gold production reported in Q3 FY 2026, of which 1,396 ounces were production adjustments. (2) Total cash cost for sulphide plant production includes production expenses – cost of sales such as mining, processing, tailing facility maintenance and camp administration, royalties, rehabilitation fund levy, and operating costs such as storage, temporary mine production closure, community development cost and property fees, net of by-product credits. Cash cost excludes amortization, depletion, accretion expenses, capital costs, exploration costs and corporate administration costs. (3) All-in sustaining cost per ounce includes total cash costs, operation expenses, and adds sustaining capital expenditures, corporate administrative expenses for the Selinsing Gold Mine including share-based compensation, sustaining exploration and evaluation costs, and accretion of asset retirement obligations. Certain other cash expenditures, including tax payments and acquisition costs, are not included. |
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GOLD PRODUCTION RESULTS
Third quarter gold production
- The sulphide flotation plant produced 10,700 ounces of gold during the quarter. A total of 243,367 tonnes of sulphide ore were processed at an improved average recovery rate of 89.75%, reflecting the continued benefits of plant improvements and optimization initiatives. Despite a lower average head grade of 1.67 g/t compared to Q3 FY 2025, operational performance remained strong.
- During Q3 FY 2026, mining activities continued to focus on Buffalo Reef and Felda Block 7. Ore mined during the quarter increased by 3% compared to Q3 FY 2025. As mining progressed into the planned ore zones, higher ore tonnages were achieved, while the stripping ratio remained broadly consistent at 9.60, compared to 9.57 in Q3 FY 2025.
- Ore processed during the quarter increased by 27% compared to Q3 FY 2025, driven by improved plant availability, ongoing optimization initiatives, and stronger performance from the new filter press, which successfully resolved the previous processing bottleneck.
YTD FY 2026 gold production
- Mining production included 6,648,193 tonnes of total mined material (nine months ended March 31, 2025: 6,986,539 tonnes), comprising 645,877 tonnes of ore (nine months ended March 31, 2025: 532,531 tonnes) and 6,002,316 tonnes of waste (nine months ended March 31, 2025: 6,454,008 tonnes). The stripping ratio decreased to 9.29 for the nine months ended March 31, 2026, compared to 12.12 for the same period last year. This decrease was due to the increase in ore tonnage upon reaching ore zones, optimized mining sequence, and lower cutback waste, mainly at the Buffalo Reef pit BRC4 to access the ore body.
- The mill processed 707,518 tonnes of sulphide ore during YTD FY 2026, averaging a head grade of 1.72 g/t and a higher recovery of 89.69% (YTD FY 2025: 83.49%). Processing costs per tonne decreased to $13.94 from $14.39 in the same period last year, primarily due to improved operational efficiency, as fixed maintenance and labor costs were spread over a larger throughput.
FINANCIAL RESULTS
Third Quarter financial results
- Gold sales in Q3 FY 2026 generated strong revenue of $47.04 million from 10,478 ounces sold at a record average realized price of $5,166 per ounce. This represents a significant improvement compared to Q3 FY 2025, when 8,399 ounces were sold at an average realized price of $2,945 per ounce, reflecting both higher sales volumes and significantly stronger gold prices.
- Mining operations, before non-cash amortization and depreciation, delivered an outstanding gross margin of $32.47 million in Q3 FY 2026, significantly up from $12.51 million in Q3 FY 2025. The strong increase reflects the continued improvement in operational performance, higher production levels, and favorable gold prices achieved during the quarter.
- Cash cost per gold ounce sold from the sulphide operations was $1,390 for Q3 FY 2026, compared with $874 in Q3 FY 2025. The increase was primarily attributable to higher royalty expenses, driven by both the increase in royalty rate effective from September 2025 and higher royalty costs per ounce resulting from stronger realised gold prices during the quarter. Additional contributing factors included the appreciation of the Malaysian Ringgit against the US dollar, which increased operating costs when translated into US dollar terms, higher mining costs associated with increased total material mined, and the implementation of the latest Sales and Service Tax (“SST”) on mining-related services.
- Net cash generated from operating activities in Q3 FY 2026 totalled $21.90 million, an increase of $13.18 million compared to $8.72 million in Q3 FY 2025. This strong growth was primarily driven by higher gross margins from increased gold concentrate sales and stronger realized gold prices.
- The Company’s total cash reserves, comprising cash and cash equivalents and short-term term deposits, were $101.76 million as of March 31, 2026, an increase of $55.82 million from $45.94 million as of June 30, 2025. Current assets exceeded current liabilities by $108.85 million (June 30, 2025: $58.54 million), reflecting the Company’s strengthened liquidity position and solid net working capital base.
YTD FY 2026 financial results
- During the nine months ended March 31, 2026, revenue from sulphide gold production was $128.67 million (nine months ended March 31, 2025: $59.02 million), because of the sale of 35,429 ounces of gold in concentrate at a realized gold price of $4,262 per ounce (nine months ended March 31, 2025: 26,656 ounces at $2,718/oz).
- The gross margin was $86.45 million for the nine months ended March 31, 2026 (nine months ended March 31, 2025: $35.66 million), reflecting the Company’s strong operational performance and the benefit of significantly stronger realized gold prices during the period.
- Cash cost per gold ounce sold from the sulphide operations was $1,192 for YTD FY 2026, compared with $876 in YTD FY 2025. The increase primarily reflected the positive impact of significantly stronger realized gold prices during the quarter, which resulted in higher royalty and rehabilitation fund levy in line with improved revenue performance. Operating costs were also influenced by the appreciation of the Malaysian Ringgit against the US dollar when translated into US dollar terms, together with the implementation of the latest Sales and Service Tax (“SST”) on mining-related services.
MINE DEVELOPMENT
Selinsing Gold Mine
R&D Work
Bench scale test work was conducted using alternative collectors combined with Potassium Amyl Xanthate for improved gold and antimony recovery under both alkaline and acidic conditions, with mixed results. Weekly laboratory bench scale test work continued to compare results against plant production figures with the aim of optimizing reagent dosing, maximizing gold and antimony recoveries and maintaining concentrate quality.
Concentrate Warehouse Extension
The warehouse extension was completed during Q3 FY 2026 and full use was made of the additional capacity. Electrical installation works, including lighting and cabling progressed well during the quarter. The one-tonne bulk bagging system was assembled under a lean-to roof along the south side of the concentrate shed extension.
Mine Development
During Q3 FY 2026 mining activities were focused on BRC2 Stages 2 and 3, and BRC4 Stages 2 and 3; mining resumed at BRC3 Stage 3 during March. Open pits push back activities were conducted during the Stage 3 development at the southern end of BRC2 pit with waste removal to an elevation of 465 mRL.
Tailing Storage Facility (TSF)
Design of the Stage 7 main and saddle embankments was completed by our TSF consultants during the quarter. Construction of the southern embankments progressed well, centreline construction of south embankment #2 was completed to the planned interim elevation of 543 mRL and downstream construction of south embankment #1 reached an elevation of 537 mRL at quarter end. The interim elevation of 543 mRL will provide an additional capacity of around 1.5 million tonnes, equivalent to 20 months of tailings discharge.
Flotation Plant and Related Facilities
A new transfer pump and piping was installed for the PAX flotation collector, and upgrades were carried out on the concentrate and water recovery thickener underflow pipelines. The new filter press operated reliably throughout the quarter and the original filter press was run every month as part of ongoing care and maintenance activities.
Computerised Maintenance Management System
The Computerised Maintenance Management System (“CMMS”) was successfully implemented during Q3 FY 2026. Maintenance performance showed steady and measurable improvement with increased asset reliability, reduced downtime, and more efficient inventory management. The implementation contributed positively to operational efficiency, cost control, and overall asset performance during the quarter.
Murchison Gold Project
During Q3 FY 2026, the Company continued to make solid progress on technical and development studies at the Murchison Project, including the successful completion of Process Design Criteria assessments and a Statement of Work for future processing expansion opportunities, supporting ongoing project evaluation and development planning.
Engagement with Traditional Owners continued constructively during the quarter, strengthening relationships and progressing production planning discussions. Heritage surveys completed during Q2 pursuant to the Interim Heritage Agreement were assessed, and a plan was developed to further progress the Gabanintha and Burnakura projects in preparation for the re-commencement of field activities.
Environmental programs also progressed positively during the quarter, with the successful completion of the Q3 FY 2026 fauna survey confirming that no conservation-significant species were identified within the survey area, representing a positive outcome for future project advancement activities.
In addition, detailed heritage evaluations were successfully completed with support from external consultants to support obtaining consent from Traditional Owners for the upcoming exploration drilling program.
Exploration
Malaysia
The Buffalo Reef exploration drilling program progressed during this quarter with 58 holes completed and 8,666 metres drilled. The drilling program targeted extensions of oxide and predominately sulphide mineralisation in known mining areas, and potential mineral resource expansion outside of the current pit-shell, which may support an extension of the mine life, subject to further studies. By the end of the third quarter of FY 2026, a total of 13,045.1 metres had been drilled as part of the resource expansion program, and a total of 9,078 samples were prepared and dispatched to a recognized independent third-party assay laboratory.
Western Australia
During the quarter, the Company continued reviewing historical data and existing resources at the Gabanintha and Burnakura deposits and completed preliminary planning to identify infill and extension drilling targets aimed at supporting potential resource growth.
Cathy Zhai, President and CEO
Monument Mining Limited
Suite 1580 – 1100 Melville Street
Vancouver, BC V6E 4A6
About Monument
Monument Mining Limited (TSX-V: MMY, FSE: D7Q1) is an established Canadian gold producer that 100% owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in the Murchison area of Western Australia. It has 20% interest in Tuckanarra Gold Project, jointly owned by Odyssey Gold Ltd in the same region. The Company employs approximately 297 people in both regions and is committed to the highest standards of environmental management, social responsibility, including health and safety for its employees and neighboring communities and good corporate governance.
FOR FURTHER INFORMATION visit the company web site at www.monumentmining.com or contact:
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Disclaimer Regarding Forward-Looking Statements
This news release includes statements containing forward-looking information about Monument, its business and future plans (“forward-looking statements”). Forward-looking statements are statements that involve expectations, plans, objectives or future events that are not historical facts and include the Company’s plans with respect to its mineral projects, expectations regarding the completion of the ramp-up period to target production level at Selinsing and the timing thereof, expectations regarding the Company’s continuing ability to source explosives from suppliers, expectations regarding completion of the proposed storage shed and ammonium nitrate depot and the timing thereof, and the timing and results of the other proposed programs and events referred to in this news release. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation: risks related to general business, economic, competitive, geopolitical and social uncertainties; uncertainties regarding the results of current exploration activities; uncertainties in the progress and timing of development activities, including those related to the ramp-up process at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; uncertainties and risks related to the Company’s ability to source explosives from suppliers; foreign operations risks; other risks inherent in the mining industry and other risks described in the management discussion and analysis of the Company and the technical reports on the Company’s projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Material factors and assumptions used to develop forward-looking statements in this news release include: expectations regarding the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; assumptions and expectations regarding the results of exploration on the Company’s projects; assumptions regarding the future price of gold of other minerals; the timing and amount of estimated future production; assumptions regarding the timing and results of development activities, including the ramp-up process at Selinsing and the completion of the proposed storage shed and ammonium nitrate depot; expectations that the Company will continue to be able to source explosives from suppliers in a timely manner; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; exchange rates; and all of the factors and assumptions described in the management discussion and analysis of the Company and the technical reports on the Company’s projects, all of which are available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/ad57c373-1dea-4b7f-ae55-bf6bd0af8885
