MON Montero Mining and Exploration Ltd

Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") would like to
report that Euro Pacific Canada has initiated analyst coverage on Montero Mining
and Exploration Ltd. 


The full research report can be obtained directly from Luisa Moreno at Euro
Pacific Canada. 


About Montero Mining & Exploration Ltd. 

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 for sale or joint venture.


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: 
Euro Pacific Canada
Luisa Moreno, PhD, MEng.
Analyst
+1(416) 933-3352
luisa.moreno@europac.ca


Montero Mining and Exploration Ltd.
+1 416 840 9197
+1 866 688 4671 (FAX)
ir@monteromining.com
www.monteromining.com

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