MON Montero Mining and Exploration Ltd

Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") provides a
corporate update on operations at the Wigu Hill Rare Earth Project in Tanzania
including the commencement of its Environmental Impact Assessment ("EIA"),
Environmental and Social Impact Assessment ("ESIA") and the grant of an
extension to the Prospecting License for the project area. The EIA and ESIAs are
crucial steps in obtaining the Environmental Permit, required for the Mining
License application and any mining operation at Wigu Hill.




    Dr. Tony Harwood, President and Chief Executive Officer of Montero      
    commented, "The commencement of the EIA and ESIA are instrumental       
    in developing a mining operation at Wigu Hill. The results and          
    submission of the EIA and ESIA will be required for the application     
    of a mining license and contribute to the feasibility study. We are     
    pleased to announce that a 2 year extension to our prospecting          
    license has been awarded by the Commissioner for Minerals in            
    Tanzania, in order to apply for a Mining License. Montero remains       
    focused on de-risking the Wigu Hill project and targeting early         
    production of rare earths."                                             



Montero has engaged MTL Consulting Company Ltd., a Tanzanian company with
skilled professionals in mining and environmental areas with local and
international experience, to carry out the necessary studies. The Scoping Study
and Terms of Reference examining the bio-physical environment and socio-economic
environment of the project have been approved by the National Environment
Management Council (NEMC) in Tanzania and the EIA and ESIA at Wigu Hill are
underway.


Baseline studies that have previously been completed during the exploration
period include: Fauna/Flora, Geophysical/Hydrology-hydrogeology and a Health
Impact Assessment. The results of these studies have been included in the scope
of work for the EIA and ESIA. Submission of the EIA and ESIA to NEMC is targeted
for the end of August 2012, followed by the Environmental Impact Assessment
Certificate expected to be received in October 2012.


The application for the extension of a prospecting license for the Wigu Hill
project area for an additional two years has been approved by the Commissioner
for Minerals in Tanzania. The extension of the Prospecting License is effective
from 1st July 2012 to 30th June 2014 and will allow for the completion of the
EIA, further exploration and feasibility studies. 


Qualified Person's Statement

The technical information contained in this press release has been reviewed 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. 


About Montero Mining & Exploration

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. The flagship Wigu Hill REE Project is a high-grade,
undeveloped Light Rare Earth Element deposit, where the current focus is on
updating the initial NI 43-101 Mineral Resource Estimate and advancing the
hydro-metallurgical testwork with Mintek. 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 larger deposit. With China's 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 and high-tech applications.


Montero's growth strategy is to develop and de-risk the Wigu Hill Rare Earth
Element project and to bring this to account through eventual rare earth
production and cash flow, while operating in an environmentally and socially
responsible manner. Montero trades on the TSX Venture Exchange under the symbol
MON.


Dr. Tony Harwood, President and CEO

CAUTIONARY STATEMENT: This News Release includes certain "forward-looking
statements". These statements are based on information currently available to
the Company and the Company provides no assurance that actual results will meet
management's expectations. Forward-looking statements include estimates and
statements that describe the Company's future plans, objectives or goals,
including words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be identified by
such terms as "believes", "anticipates", "expects", "estimates", "may", "could",
"would", "will", or "plan". Since forward-looking statements are based on
assumptions and address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results relating to, among
other things, results of exploration, project development, reclamation and
capital costs of the Company's mineral properties, and the Company's financial
condition and prospects, could differ materially from those currently
anticipated in such statements for many reasons such as: 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 the activities of the
Company; and other matters discussed in this news release. This list is not
exhaustive of the factors that may affect any of the Company's forward-looking
statements. These and other factors should be considered carefully and readers
should not place undue reliance on the Company's forward-looking statements. The
Company does not undertake to update any forward-looking statement that may be
made from time to time by the Company or on its behalf, except in accordance
with applicable securities laws.

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