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Montero consolidates real estate holdings in Chile’s Avispa Copper-Molybdenum Real Estate, Canadian Business Journal

Toronto, March 14, 2022 (GLOBE NEWSWIRE) — Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or “societyWe continue to consolidate our assets at the Avispa Copper Molybdenum Project in the Atacama Desert in northern Chile.The company has completed the 200.8km regulatory process2 A list of exploration rights, including the original Avispa and the recently awarded Abeja exploration rights registered in 2021.

The company has also finalized the regulatory process with an additional 270.5km.2 Of Abeja’s concessions. The company expects the remaining regulatory process to be completed by the end of the second quarter of 2022. Upon completion, the company will retain 100% ownership for a total of 473.3 km.2 Comparison of exploration rights in the well-defined late Paleocene to early Eocene Cu-Mo porphyry belts in northern Chile

The Avispa property is located in a clear porphyry zone about 40 km north of the discovery at BHP’s Spence Cu-Mo mine, KGHM’s Sierra Gorda Cu-Mo mine, and the recently announced Socialedad Contractual Minera Búfalo (SCMB) Cerro Búfalo project. doing. Gorda district south of Avispa. The integrated Avispa and Abeja mining areas are surrounded by major mining companies with exploration and mining rights with groups including: Codelco Freeport, Glencor, Antofagasta, and SQM. Avispa is also 50 km west of Codelco’s Chuquicamata giant porphyry copper mine. This mine is located in the young Late Oligocene-Early Oligocene porphyry zone.

Dr. Tony Harwood, President and Chief Executive Officer of Montero, commented: “As the regulatory process progresses, Montero will manage important land packages for this world-class porphyry copper deposit. Leading companies such as Glencoa, Freeport and Antophagusta are actively exploring the area. As such, the Montero land package is very promising. We will continue our mapping and sampling programs to keep you up to date. “

Figure 1. Avispa & Abeja properties and major copper mine locations in the context of the region and district are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/38a822c4-4865-46e7-83ba-51b7e453e90d.

Figure 2. A geological map of the allowed Avispa Property exploration concession area and the area at the end of the regulatory process (after Sernageomin) is https://www.globenewswire.com/NewsRoom/AttachmentNg/7e26f300. You can get it at. -4426-4d8b-bc46-562d146e63a8

Figure 3. Satellite images showing the location of previous drilling sites identified by Avispa and Abeja properties and currently sampled for geochemical studies are https: //www.globenewswire.com/NewsRoom/AttachmentNg/c4e8e475. It is available at -a383-43e8-b907. -426e95b140f9

Figure 4. Satellite image showing the location of a narrowly spaced drill site completed by the previous owner of the Abeja property. Currently, drill tips are being sampled for geochemical work. It is available at https: //www.globenewswire.com/NewsRoom/AttachmentNg. / 9cb19d5d-61b8-470b-976c-f2f421e1e66b

Planned exploration program
Montero has completed a thorough investigation of historical information on exploration in this highly promising area. We are planning an exploration program that includes: Detailed geological maps, surface sampling, ground and aerial geophysical surveys aimed at defining drill targets. We have completed geological mapping and geochemical sampling transects along the San Salvador River at the southern end of Avispa and Abeja Properties. This work will help establish a stratigraphic and structural framework to guide future exploration.

Previous companies that explored Avispa include BHP, which performed limited property drilling at intervals of 2km to 3km as part of a regional exploration program. Montero believes that it may be buried porphyry and porphyry-related deposits with a smaller footprint than those required by large corporations.

Marcial Vergara, Principal Geologist of Montero, reviewed the data published on Avispa and conducted a site visit. Marcial previously worked for Codelco and Anglo American, which operate major copper mining companies in Chile. Montero has adopted the Prospect Generator model at Avispa. This model mitigates the risk of a project, conducts limited research, and seeks partners to advance the project through the drill phase. This will give Montero shareholders access to the copper space while continuing to focus on the potential of gold and silver in southern Chile.

Qualified person’s statement
This press release has been reviewed and approved by Mike Evans, M.Sc. Pr.Sci.Nat. And Sr. Marcial Vergara B.Sc. National Instrument 43-101 qualified for the purpose. Sr Vergara is based in Santiago and has over 30 years of experience in copper exploration in Chile.

About Montero
Montero is a junior exploration company focused on finding, exploring and advancing globally important gold deposits in Latin America. We are in the process of abandoning our portfolio of battery metal projects in Africa to focus on gold opportunities in Latin America. Montero’s board and management have a great track record of successfully discovering and advancing precious metal and copper projects. Montero is traded on the TSX Venture Exchange under the symbol MON, with 38,647,485 issued shares.

For more information, please contact:
Montero Mining and Exploration Limited.
Dr. Tony HarwoodPresident and Chief Executive Officer
Email: ir@monteromining.com
Tel: +1 416 840 9197 | Fax: +1 866 688 4671
www.monteromining.com

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.

Notes on future outlook information: This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities law. Forward-looking information includes, but is not limited to, reverse stock split statements, forecasts, and estimates. In general, forward-looking information refers to forward-looking terms such as “plan,” “expect,” “not expect,” “expected,” “budget,” “plan,” and “estimate.” Can be identified using. “Predict”, “intended”, “predict”, “unexpected”, “believe”, or a variation of such a word or phrase, or a particular action, event, or result is “potential” , “Possible”, “Possible”, “Possible” or “Take”, “Occurs” or “Achieved”. Such information is based on information currently available to Montero and Montero does not guarantee that actual results will meet management expectations. Forward-looking information, by its nature, carries inherent risks and uncertainties, and Montero’s actual results, levels of activity, performance, or outcomes are expressed or implied by such forward-looking information. It can be very different from the one. In particular, actual results regarding contract completion, exploration results, project development, Montero mineral asset reclamation and cost of capital, and financial position and outlook are currently expected in such statements for a number of reasons, including: It can be very different from what is being done. As: Announced or unable to complete the contract on the basis of any terms. Changes in general economic and financial market conditions. Mineral demand and price changes. Proceedings of litigation, legislation, environment and other justice, regulation, politics and competition. Technical and operational difficulties encountered in connection with Montero’s activities. And other matters discussed in this news release and filings with securities regulators. This list does not cover all the factors that may influence Montero’s forward-looking statements. These and other factors should be considered carefully and therefore readers should not place excessive reliance on information about future prospects. Montero does not undertake to update any forward-looking information except in accordance with applicable securities law.


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Montero consolidates real estate holdings in Chile’s Avispa Copper-Molybdenum Real Estate, Canadian Business Journal

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