Montero Mining and Exploration Ltd.

TSX VENTURE : MON


Montero Mining and Exploration Ltd.

May 26, 2014 17:33 ET

Montero Announces Change to the Board of Directors

TORONTO, ONTARIO--(Marketwired - May 26, 2014) - Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") announces the resignation of Michael Wolley, effective immediately, as a member of the Board of Directors of the Company due to increased work commitments in Australia. The Board of Directors will look to fill the vacancy in the coming months.

Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, "On behalf of Montero's management team and the Board, I would like to extend my sincere gratitude to Michael for this significant contribution to the Company. With substantial experience in the resource sector, Michael Wolley has played a crucial role in advising on the development of the Company and we wish him well in his future endeavours."

About Montero Mining & Exploration

Montero Mining and Exploration Ltd. is a mineral exploration and development company focused on achieving production of rare earths primarily from its flagship Wigu Hill project in Tanzania. With China's control over rare earth 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 in Africa, which brings significant credibility to our strategy of becoming a rare earth producer. In addition to rare earths, Montero has phosphate assets in South Africa for sale or joint venture.

Dr. Tony Harwood, President and CEO

CAUTIONARY STATEMENT: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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 with respect to 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.

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