MON Montero Mining and Exploration Ltd

Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) has received confirmation of issuance of exploration licenses east and contiguous to the currently held Isabella claims. The new claims cover an additional 7 km of granite-sediment contact with reported granite-hosted quartz veins similar to those defined within Montero’s Isabella East and Isabella West property blocks. The Isabella Properties are located approximately 200 km south of Santiago and 125 km south of Yamana’s Minera Florida mine in the Southern Coastal Range of Chile.

Dr Tony Harwood, President of Montero commented: “Montero has secured additional claims covering a further 7 km strike length along the granite sedimentary contact to the east of the existing Isabella claims. At Isabella, the Company is currently completing a maiden drill program to test 4 priority gold silver vein targets and a sedimentary geophysical target. Further mapping and sampling of these newly acquired claims is underway.”

New Exploration License Applications Montero expanded its land holdings in the Isabella district based on prior geological mapping and surface rocks sampling carried out by the previous property owner. The new claims cover a 21 km2 area immediately east and contiguous to the current Isabella property holdings. Under the regulatory process the licenses will be constituted during Q2 2021 and will be 100% owned by Montero. The new licenses cover an additional 7 km of granite-sediment contact containing numerous, structurally controlled quartz veins within the granite. Previous reconnaissance chip sampling returned values up to 0.85 g/t Au, 23 g/t Ag in exposed veins which ranged up to 4 m in width.

Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/c3979f3c-ca5f-478d-a6cd-a19aad8353a2

Qualified Person Statement This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr. Sci. Nat., who is a qualified person for the purpose of National Instrument 43-101 and a Consulting Geologist to Montero. A review was also undertaken by Sr. Marcial Vergara B.Sc. who is resident of Chile and a Qualified Person for the purpose of National Instrument 43-101 and a technical advisor to Montero. Sr. Vergara has extensive experience in gold exploration in Chile.

About Montero Montero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Chile. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Chile. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 38,647,485 shares outstanding.

For more information, contact: Montero Mining and Exploration Ltd. Dr. Tony Harwood, President and Chief Executive Officer E-mail: ir@monteromining.com         Tel: +1 416 840 9197 | Fax: +1 866 688 4671 www.monteromining.com 

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes, but is not limited to, statements, projections and estimates. 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”. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. Actual results relating to, among other things, completion of the HOA, results of exploration, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: an inability to complete the HOA on the terms as announced or at all; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Montero’s activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero’s forward-looking statements. These and other factors should be considered carefully and accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.