Montero Mining and Exploration Ltd. is a mineral exploration and development company engaged in its flagship Rare Earth Elements (REE) Project Wigu Hill in Tanzania and has phosphate assets in South Africa and uranium assets in Tanzania and Quebec, Canada. Montero remains focussed on the development of our flagship Wigu Hill Rare Earth Element Project in Tanzania, which is a high-grade, undeveloped Light Rare Earth Element deposit. The Company’s current focus is on acheiving early production of fine rare earth chemicals and metals from Wigu Hill. Montero has a fast-track strategy to advance a portion of the Wigu Hill deposit to the mining and production stage in the short-term while further defining a much larger deposit. Montero recently produced samples of saleable Rare Earth products, proving an effective process route, and signed a MoU with Star Earth Minerals and "strategic investor". With China's dominance over supply and control over export quotas, it is becoming imperative that the rest of the world develops new rare earth resources to meet the increasing demand from “green” technology.

Montero’s growth strategy is to develop the Wigu Hill Rare Earth Element project and to bring this to account by eventual rare earth production and cash flow. Montero plans to operate in an environmentally and socially responsible manner, adding value to all stakeholders. Montero has a highly experienced Board and Management team that has built and operated mines and refineries before which brings significant credibility to our strategy of becoming a rare earth producer. Montero trades on the TSX.V under symbol MON.

Montero's primary asset is the Wigu Hill Property in Tanzania. Sampling from the Wigu Hill Property has revealed high REE grades up to 27.3% TREO and 16.68% TREO from drilling and Montero has advanced in the metallurgical testwork with Mintek. Montero also holds interests in two other licences in Tanzania, two properties in Quebec, and phosphate properties in South Africa.

Wigu Hill REE Project, Tanzania

• • Initial NI 43-101 Resource Estimate on 2 (Twiga and Tembo) of 10 drill targets (3.3Mt @ 2.6% LREO5 including 510k @ 4.4% LREO5 (see news release 12/09/2011) 2,225m drilled down to 150m depth

• Advanced in the metallurgical work with Mintek, South Africa and produced first samples of Rare Earth saleable products (see news release 05/03/2012)

• • Drilling completed at Tumbili target, trenching and sampling complete at Nyati target, in-fill drilling complete at Twiga Zone
  

• • MoUs signed with Star Earth Minerals and "strategic Investor"

• Further drilling planned for Nyati to define a larger resource

• ESIA submitted

• Developments and Milestones set out for target to fast-track to production

Phosphate Projects, South Africa

The Phosco project covers four phosphate exploration projects in South Africa, namely Duyker Eiland, Phillips Kraal, and Lamberts Bay in the Western Cape; and Bierkraal in the Northwest Province (see maps on left sidebar). Exploration drilling has been completed on Duyker Eiland and Phillips Kraal. An initial In November 2011, an Initial Inferred Mineral Resource of 32.8 M tonnes grading 7.15% P₂O₅, capable of producing an acid-grade phosphate concentrate of 33% to 35% P₂O₅at the Duyker Eiland Project in South Africa.

An independent NI43-101 compliant PEA has been completed by Turgis Consulting on the Duyker Eiland Phosphate Project in South Africa. Positive results and highlights  are as follows: A NPV of CAD$ 126.1 million (at a discount rate of 10%) and an IRR of 38.14%. Average production of 490,000 tonnes per annum of 33% P2O5 concentrate 11 year Life of Mine (based on initial resource estimate). Operating cash costs CAD$ 109 per tonne concentrate Free alongside Ship ("FAS") Port of Saldanha, South Africa. Capital costs of CAD$ 132 million. Montero is looking to sell or JV the phosphate assets.

Girard Claim Area, Quebec

The Girard Claim area is 100% owned by Montero. The Girard Claim located 33 km south of Cadillac town which lies within the Abitibi-Temiscamingue region, in south-west Quebec province. The license area is accessible via Highway 117 and all weather roads access through the centre of the license block. The terrain is partially covered by glacial till and is undulating with temperate forest.

Lac-Yvonne Claim Area, Quebec

The Lac Yvonne claim area is located in the Bressani Township in south-western Quebec. Historic data indicate uranium and gold showings along granite/pegmatite-greywacke/iron formation sheared contacts. The Lac Yvonne claim area is located approximately 100 km south of Chibougamau in the Bressani Township, in south-west Quebec province.

For more information CLICK HERE

Dr. Antony Harwood - President & CEO & Director

Dr. Harwood is an economic geologist with 30 years of international exploration and mining experience and graduated from University of Wales, College Cardiff, with a B.Sc. (Honours) degree and Ph.D in Economic Geology.  Dr. Harwood was appointed President and Chief Executive Officer of Montero Mining & Exploration in June, 2009.  Between 2006 and 2009, Dr. Harwood held the position of President and Chief Executive Officer of Africo Resources Ltd., a Canadian company engaged in exploring, acquiring and developing base metal and gold assets in Africa.  Between 2000 and 2006, Dr. Harwood served as a Vice President of Placer Dome Inc., a major Canadian gold mining company. Other professional credits include positions as a Director of Endeavour Mining and Auryx Gold Corp. and former founder and MD of Harwood International Ltd., a geological consulting company. Dr. Harwood additionally held a position as a lecturer - University of Wales, Cardiff (UK), University of Natal and University of Durban (South Africa).

Toni Chapman - CFO, Corporate Secretary & Director

Toni Chapman has 20 years financial and administration financial experience in Africa for South African and Canadian companies and has a Management Advanced program diploma from the University of Witwatersrand, South Africa. She is currently CFO - Oryx Mining and Exploration Ltd., and other professional edits include the former CFO - Tri Origin Exploration Ltd., a consultant to Placer Dome, South Africa and former Business Administrator Director for Bastillion Group of Companies.

CLICK TO VIEW THE TEAM FOCUSED ON METALLURGY AND THE TEAM IN TANZANIA

kindly visit the corporate fact-sheet page:

For analyst coverage - please visit our website