Dr. Jamil Sader reports

MONUMENTAL MINERALS CORP. CLOSES STRATEGIC PLACEMENT FINANCING

Monumental Minerals Corp. has closed a non-brokered private placement for gross proceeds of $988,050, consisting of 5,646,000 units of the company at a price of 17.5 cents per unit. Each unit consists of one common share of the company and one common share purchase warrant of the company. Each whole warrant entitles the holder to acquire one share at a price of 30 cents per share for a period of three years following the closing of the private placement.

Dr. Jamil Sader, chief executive officer of Monumental, comments:

"We are pleased to welcome our new strategic investors. They are highly respected and experienced and we look forward to leveraging their extensive expertise in mining and capital markets."

Monumental intends to use the proceeds of the private placement to conduct work on its projects, as well as for general working capital purposes. The private placement is subject to the final acceptance of the TSX Venture Exchange. The shares issued pursuant to the private placement are subject to a statutory hold period of four months and one day from the closing of the private placement. No finders' fees are payable in connection with the private placement.

Pursuant to the company's option agreement dated Oct. 5, 2022, with Lithium Chile Inc. to acquire a 50.01-per-cent interest in the Salar de Turi project (see the company's news release dated Oct. 6, 2022), the company issued 1.05 million common shares to Lithium Chile Inc. In addition to the statutory hold period of four months and one day from the date of issuance, the payment shares are subject to a 12-month voluntary hold period from the date of issuance.

Stock options

The company also announces the granting of incentive stock options to certain of its directors, officers and consultants to purchase up to an aggregate 694,600 common shares of the company at a price of 20 cents per common share for a period of three years, with the options vesting immediately.

About Monumental Minerals Corp.

Monumental Minerals is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties in the critical and electric metals sector. The company's flagship asset is the Jemi HREE project located in Coahuila, Mexico, near the Texas, United States, border which the company has an option to acquire 100 per cent of the 3,650-hectare project. The company has an option to acquire a 75-per-cent interest and title to the Laguna cesium-lithium brine project located in Chile and a 50.01-per-cent interest in the Salar De Turi lithium project in Chile.

We seek Safe Harbor.