MON Montero Mining and Exploration Ltd

Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") provides an
update on the hydrometallurgical testwork completed to date on the
bastnaesite-rich carbonatite material from the Wigu Hill Rare Earth Project in
Tanzania. Montero has been researching various metallurgical technologies to
potentially reduce operating and capital costs and recent work carried out at
Mintek has returned significant testwork results. The testwork achieved good
recoveries while significantly reducing reagent requirements allowing for
potentially lower operating costs for processing the Rare Earths at Wigu Hill.


Mintek and Montero have been examining a combination of hydrometallurgical and
pyrometallurgical processes to recover Rare Earth Elements ("REEs") from the
Wigu Hill bastnaesite-rich carbonatite mineralization. Mintek has completed
testwork in this regard and have published an internal report on the work. The
objective of the testwork was to significantly reduce reagent consumption in the
hydrometallurgical leach process that would provide feed to a REE extraction
refinery. The program included a calcination pre-treatment step after which the
residue was then subjected to a single stage hydrochloric acid leach to extract
the REE's. The preliminary testwork results achieved a recovery of 77% of REE's
with significantly reduced reagent consumption compared with the prior
three-stage hydrometallurgical leach process.




  Dr. Tony Harwood, President and Chief Executive Officer of Montero        
  commented, "Mintek and our team are focused on lowering operating and     
  capital costs of our proposed hydrometallurgical flowsheet for the        
  economic extraction of rare earths from the Wigu Hill Project. Preliminary
  testwork completed by Mintek represents a significant step in simplifying 
  the hydrometallurgical process and potentially reducing costs. Montero is 
  examining the cost-benefit of a revised flowsheet in order to lower the   
  cost of the extraction of REE's from the bastnaesite-rich carbonatite     
  material at Wigu Hill."                                                   



The internal report from Mintek completed in Johannesburg, South Africa will
form the basis of further laboratory and pilot scale testwork in 2013 in which
calcination as pretreatment option will be further explored and optimized. 


The Wigu Hill Rare Earth Project does not contain a mineral reserve and is not
currently in production. Any decision to place the Wigu Hill Rare Earth Project
into production requires the support of a feasibility study prepared in
accordance with National Instrument 43-101. At this time the Company has
completed a series of laboratory and pilot scale testwork, but this does not
satisfy the requirements of a feasibility study. Accordingly, any decision to
commence production on the Wigu Hill Rare Earth Project is neither imminent nor
assured, and investors cannot assume that the Wigu Hill Rare Earth Project hosts
an economic mine at this time.


Qualified Person's Statement

The technical information contained in this press release has been reviewed by
Mr. Mike Evans, M.Sc. Pr.Sci.Nat., 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 focused on achieving production of fine rare earth chemicals and metals
primarily from at its flagship Wigu Hill project in Tanzania and the
establishment of a rare earth refinery. 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 has a highly experienced Board and Management team that
has built and operated mines and refineries which brings significant credibility
to our strategy of becoming a rare earth chemical producer. In addition to rare
earths, Montero has phosphate assets in South Africa and uranium assets in
Tanzania and Quebec, Canada.


Signed. Dr. Tony Harwood - President and CEO

CAUTIONARY STATEMENT: This News Release includes certain "forward-looking
statements". This News Release includes certain "forward-looking statements".
These statements are based on information currently available to Montero and
Montero provides no assurance that actual results will meet management's
expectations. Forward-looking statements include estimates and statements that
Montero's future plans, objectives or goals, including words to the effect that
Montero 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 Montero's
mineral properties, and Montero'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 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 readers
should not place undue reliance on Montero's forward-looking statements. Montero
does not undertake to update any forward-looking statement that may be made from
time to time by Montero or on its behalf, except in accordance with applicable
securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Montero Mining and Exploration Ltd.
+1 416 840 9197
+1 866 688 4671 (FAX)
ir@monteromining.com
www.monteromining.com

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