Montero Mining and Exploration Ltd.

Montero Mining and Exploration Ltd.

November 02, 2011 09:00 ET

Montero Appoints David Hodgson to the Board of Directors

TORONTO, ONTARIO--(Marketwire - Nov. 2, 2011) - Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") is pleased to announce the appointment of David Hodgson as a Non-Executive Director to Montero's Board of Directors, with immediate effect.

Mr. Hodgson has been active in the mining industry for over 40 years. He spent over 27 years working with the Anglo American and De Beers group of companies before moving to AngloGold Ashanti when it listed in 1998, until his retirement in April 2005. David served as Executive Director and Chief Operating Officer for Anglogold Ashanti where his responsibilities included overseeing 22 gold operations in 11 countries worldwide, producing some 6 million ounces of gold per annum. He has previously served as General Manager for Freegold and Western Deep Levels.

With considerable Board level experience, Mr. Hodgson currently serves as a non-Executive Director of African Barrick Gold, Auryx Gold Corporation and previously served as Non-Executive Director on the Boards of Moto Gold Mines Limited, Uranium One Inc. and Goliath Gold Mining Limited.

Mr. Hodgson holds as B.Sc. in Civil Engineering from the University of Witwatersrand, Johannesburg, South Africa, a B.Sc. Mining (Honours) from the Royal School of Mines in London, a B.Comm. (Majoring in Economics and Business Economics) from UNISA in South Africa and attended an Advanced Management Program at Harvard University in the USA.

Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, "We are delighted to have David join our Board of Directors. He is well respected in the industry and his range of experience, knowledge and insights on project development in the African mining sector will be valuable to Montero as we develop our flagship Wigu Hill Rare Earth Project in Tanzania"

About Montero Mining and Exploration

Montero Mining and Exploration Ltd. Is a mineral exploration and development company engaged in the identification, acquisition, evaluation and exploration of mineral properties primarily focused on rare earth elements (REE), phosphates and uranium in Tanzania, South Africa and Quebec, Canada. Montero is focused on adding value for all shareholders through the acquisition and exploration on properties, which have the highest potential for future discoveries or development of existing mineral resources into mineable reserves. We remain engaged in the development of our flagship Wigu Hill Rare Earth Element Project in Tanzania, which is a high-grade, undeveloped Light Rare Earth Element deposit. The Company's current focus is on further exploration drilling to add to our initial NI 43-101 Mineral Resource Estimate. With the rising prices of REEs and 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 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. We will continue to add value for all stakeholders through the development of our portfolio of properties. Montero trades on the TSX Venture Exchange under the symbol MON.

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".

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