Announcement • Jan 27
Montero Mining and Exploration Ltd. Announces Board and Audit Committee Changes Montero Mining and Exploration Ltd. announced that Mr. Andrew Thomson has stepped down as a Director of the Company and as Chair of the Audit Committee, effective January 26, 2026, to pursue other professional opportunities. Mr. Thomson has been a long-standing and loyal supporter of Montero, having served the Company for many years. During his tenure, he provided valuable guidance and oversight, particularly in his role as Chair of the Audit Committee and made a meaningful contribution to the Company's governance and strategic direction. The Company further announces that Mr. Tim Livesey, a current Director of Montero, has accepted the role of Interim Chair of the Audit Committee. Mr. Livesey is a seasoned mining executive with extensive experience in corporate governance, project development, and international mining operations. New Risk • Nov 30
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 67% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). High level of non-cash earnings (67% accrual ratio). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.51m market cap, or US$2.51m). Announcement • Oct 07
Montero Mining and Exploration Ltd., Annual General Meeting, Dec 10, 2025 Montero Mining and Exploration Ltd., Annual General Meeting, Dec 10, 2025. Location: ontario, toronto Canada New Risk • Jul 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 26% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Revenue is less than US$1m. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (CA$16.3m market cap, or US$12.0m). Announcement • Jun 13
Montero Mining and Exploration Ltd. Approves Cash Distribution, Payable on July 3, 2025 Montero Mining and Exploration Ltd. announced that its shareholders (the “Shareholders”) have approved the previously announced return of capital to Shareholders. This will be done through a cash distribution totalling CAD 15,036,892.50, paid out pro rata to Shareholders by reducing the Company’s stated capital (the “Distribution”). Each Shareholder will receive CAD 1.80 per common share of the Company (the “Shares”), based on the current number of Shares issued and outstanding as of the date hereof. The funds for this Distribution come from part of the net proceeds Montero received from its USD 27 million settlement with the United Republic of Tanzania, which resolved the dispute related to the expropriation of the Wigu Hill rare earth project. Important Dates: Record Date: June 24, 2025. Payment Date: July 3, 2025. From the beginning of trading on June 24, 2025, to and including July 3, 2025 (the “Due Bill Period”), Montero Shares will trade with a “Due Bill” attached. This means that anyone who buys Shares during this period is also buying the right to receive the Distribution. Montero Shares will begin trading without the right to the Distribution (ex-distribution) on the opening of trading on July 4, 2025, accordingly, Shareholders at the close of business on July 3, 2025, are the Shareholders that will be entitled to receive the Distribution. July 4, 2025, will be the ex-distribution date. The Due Bill will be redeemed on July 4, 2025, once all trades with the Due Bills attached have been settled. Shareholders shall receive their pro rata share of the Distribution on or around this date. New Risk • Apr 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.8m (US$9.69m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.0m free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.8m market cap, or US$9.69m). New Risk • Nov 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.0m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.0m free cash flow). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (30% increase in shares outstanding). Market cap is less than US$100m (CA$16.0m market cap, or US$11.5m). Recent Insider Transactions • Nov 04
Independent Director recently bought CA$58k worth of stock On the 28th of October, Jamie Levy bought around 200k shares on-market at roughly CA$0.29 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$60k more in shares than they have sold in the last 12 months. Announcement • Oct 08
Montero Mining and Exploration Ltd., Annual General Meeting, Dec 11, 2024 Montero Mining and Exploration Ltd., Annual General Meeting, Dec 11, 2024. Location: ontario, toronto Canada Announcement • Sep 06
Montero Mining and Exploration Ltd. Appoints Timothy Livesey to Its Board of Directors Montero Mining and Exploration Ltd. announced the appointment of Timothy (Tim) Livesey as a Non-Executive Director to Monteros Board of Directors, effective as of September 5, 2024. Tim Livesey is a seasoned geologist and mining professional with over 30 years of experience in gold and base metal exploration, working on a number of exploration and advanced stage projects through feasibility to development. He also brings expertise in international investment disputes and arbitration. Tims career spans 14 years at Barrick Gold, where he held various global roles. He was instrumental in the development of the Tethyan Copper Company Joint Venture at Reko Diq copper-gold project in Pakistan, a project that later became involved in an ICSID arbitration process. Tim was involved with the development of the Nkomati Nickel Mine (South Africa) and the Kabanga Nickel Project (Tanzania). Over his 30-year career, Tim has held multiple executive and board level roles across junior, mid-tier and senior companies listed in London and Canada. Announcement • Aug 29
Montero Mining and Exploration Ltd. announced that it has received CAD 1.307254 million in funding On August 29, 2024, Montero Mining and Exploration Ltd closed the transaction. The company issued 2,397,236 Common Shares at a price of CAD 0.27 per share for the gross proceeds of CAD 647,253.72 in its second tranche. In connection with the Second Tranche, the Corporation paid a cash finder fee of CAD 3,000.24 to Haywood Securities Inc. Announcement • Aug 07
Montero Mining and Exploration Ltd. announced that it expects to receive CAD 1.3 million in funding Montero Mining and Exploration Ltd. announced a non-brokered private placement of up to 4,814,815 common shares at a price of CAD 0.27 per share for the gross proceeds of CAD 1,300,000 on August 6, 2024. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the “TSXV”) and applicable securities regulatory authorities. The Corporation may pay finders' fees in connection with the Offering in cash or securities, or a combination thereof. The securities to be issued pursuant to the Offering will be subject to a four month and one day statutory hold period from the date of issuance. New Risk • Jun 04
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$899k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$899k free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (CA$8.60m market cap, or US$6.29m). Minor Risk Shareholders have been diluted in the past year (17% increase in shares outstanding). New Risk • Jan 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 14% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CA$574k). Revenue is less than US$1m. Market cap is less than US$10m (CA$9.24m market cap, or US$6.84m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Announcement • Jan 18
Montero Mining and Exploration Ltd. announced that it has received CAD 0.79995 million in funding On January 18, 2024, Montero Mining and Exploration Ltd. closed the transaction. The company issued 5,332,997 common shares at an issue price of CAD 0.15 per share for gross proceeds of CAD 799,949.55. The company paid finder's 708 Capital Pty Ltd and Haywood Securities Inc a cash commission of CAD 30,000.00 and CAD 2,999.99 respectively. The transaction included participation from certain directors of the company for 296,667 Common Shares. Announcement • Dec 30
Montero Mining and Exploration Ltd. announced that it expects to receive CAD 0.8 million in funding Montero Mining and Exploration Ltd announced non-brokered private placement of up to 5,333,334 common shares of the Corporation at a price of CAD 0.15 per common share, for gross proceeds of up to CAD 800,000 on December 29, 2023. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities. The Corporation may pay finders' fees in connection with the Offering in cash or securities, or a combination thereof. The securities to be issued pursuant to the Offering and the Debt Settlement will be subject to a four month and one day statutory hold period from the date of issuance. Harwood is an insider of the Corporation, and accordingly, the issuance of common shares to an insider in connection with the Debt Settlement will be considered a “related party transaction” within the meaning of Multilateral Instrument. Announcement • Oct 14
Montero Mining and Exploration Ltd., Annual General Meeting, Dec 13, 2023 Montero Mining and Exploration Ltd., Annual General Meeting, Dec 13, 2023. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Director Jamie Levy was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 08
Montero Mining and Exploration Ltd., Annual General Meeting, Dec 14, 2022 Montero Mining and Exploration Ltd., Annual General Meeting, Dec 14, 2022. Announcement • Sep 28
Independent Geochemical Modelling Identifies Cu-Mo Porphyry Target At Montero Mining and Exploration Ltd.'s Avispa Project in Chile Montero Mining and Exploration Ltd. has received a positive report from Fathom Geophysics from the analysis of geochemical data on the Avispa property. The report entitled “3D footprint Modelling at Avispa” has generated a 3D conceptual target indicating the possible location of porphyry copper molybdenum mineralization at depth. Company geologists collected reverse circulation (RC) drill chip piles from drilling sites believed to have been completed by BHP and Quantum Pacific Exploration Chile on the Avispa property. Some samples returned anomalous copper (>100 ppm Cu) and molybdenum (> 10 ppm Mo) values as previously reported. Avispa is located 40 km to the west of the Chuquicamata copper porphyry deposit and is situated within the defined north-south trending Palaeocene–Eocene Cu-Mo porphyry belt and 40 km north of BHP’s Spence Cu-Mo mine and KGHM/South32’s Sierra Gorda Cu-Mo mine. The drilling chip geochemical dataset from an area of close spaced drill holes was analysed by Fathom using proprietary software comparing it to idealised models of mineralized porphyry systems. The results show a significant coincident target modelled under the central part of the area that was processed (Figure 3). The success of the targeting has encouraged the Company to use the Fathom analysis on other areas of the Avispa property. RC drill hole samples obtained from the rest of the property and lithological samples obtained from the San Salvador River valley provide an additional dataset for analysis by Fathom. Fathom’s analysis has been successfully used to identify existing porphyry mineralization systems at depth such those explored by Solgold in Ecuador (Solgold,13 August, 2020). Announcement • Aug 24
Montero Mining and Exploration Ltd. Reports the Assay Results of Surface Geochemical Sampling Undertaken Within Areas of Interest on the Avispa Property Montero Mining and Exploration Ltd. is reporting the assay results of surface geochemical sampling undertaken within areas of interest on the Avispa property. Company geologists collected lithological samples from the San Salvador River valley and from reverse circulation (RC) drill chip piles from drilling sites completed by BHP and Quantum Pacific Exploration Chile (Quantum) on the Avispa property. Some samples returned anomalous copper and molybdenum values which require further investigation and supports Montero’s belief the Avispa project area has been only cursorily explored for potential concealed copper molybdenum porphyry deposits beneath surficial sediments and gravels. Avispa is located about 40 km to the west of the supergiant Chuquicamata copper porphyry deposit in an area currently being explored by major mining companies. It is situated within the defined north-south trending Palaeocene–Eocene Cu-Mo porphyry belt and 40 km north of BHP’s Spence Cu-Mo mine and KGHM/South32’s Sierra Gorda Cu-Mo mine. Avispa is 20 km east of the extensive north-south trending Caliche Nitrate belt hosting the nearby Maria Elena and Pedro de Valdivia Nitrate-Iodine mines operated by SQM. Avispa project has an extensive cover of sedimentary and evaporite salt deposits underlain by gravel deposits of Miocene age. These sediments overlay and partially cover Cretaceous volcanics and sediments which are intruded by the target Palaeocene monzodiorite and diorite porphyries and Cretaceous andesitic and diorite porphyries that potentially host copper porphyry mineralization. The extensive Quaternary and Miocene sedimentary cover at Avispa only allows for geochemistry, structural mapping, remote sensing techniques or, more costly geophysical surveys and drilling to help target Cu-Mo porphyry mineralization in the underlying Cretaceous rocks. The San Salvador River valley located along the southern boundary of the property provides a window into the Cretaceous geology below the Quaternary and Miocene rocks. The river valley is some 120-160 m below the Miocene plateau and exposes the underlying Cretaceous volcanics and sediments as well as providing information on the thickness of the Miocene sedimentary overburden. Montero conducted detailed mapping and of these rocks along this valley and its tributaries. A total of 37 grab samples of rock types exposed along a transect were sampled and subjected to 4 acid digest and 48 element ICP-MS assays. Copper was anomalous in 7 locations returning values of >100 ppm Cu with the highest value of 476 ppm Cu coming from sample of Cretaceous andesite volcanic rock. Molybdenum showed anomalous values of > 5 ppm Mo and in 3 locations highly anomalous values of >10-25 ppm Mo were obtained. The latter values were obtained from altered Cretaceous andesite volcanic rock. The Company completed sampling of rock chips piles from previous RC drilling site at Avispa. The origin of the RC drill chips piles is unknown and it assumed they are mixed and originated from an unknown depth at each drill site. A total of 48 grab samples from drill chip piles were submitted for 48-element analysis by 4 acid digestion followed by ICP-MS analysis. The results for copper and molybdenum analysis are provided in Figures 5. The highest copper concentrations of >100 ppm Cu were obtained from the area of intense drilling. In contrast the highest molybdenum anomalies of 10-25 ppm Mo were collected from 3 BHP RC drill hole sites. The lithological sampling in the San Salvador area and the drill chip sampling confirmed the occurrence of altered, intrusive rock as part of the underlying geology, from which several grab samples returned anomalous copper and highly anomalous molybdenum concentrations. For reference, exploration geochemical results during the exploration of BHP’s Spence deposit south of Avispa reported anomalies up to 100 ppm Cu and 5 ppm Mo (Cameron and others 2004, 2009) in surface gravels. Similarly, EMSA/Codelco reported anomalies of up to 43 ppm Cu and 7 ppm Mo in gravels at their Pampa las Torres property east of the Chug Chug prospect. To assist the Company in defining potential porphyry drill targets, management has engaged Fathom Geophysics to evaluate all current project data with the objective of identifying potential vectors to buried porphyry-type Cu-Mo deposits. The results of this work are expected in Quarter 3 2022 and will be integrated into the targeting program for an eventual initial drilling program at Avispa. Announcement • Aug 17
Montero Mining and Exploration Ltd. Completes Initial Geological Mapping and Geochemical Sampling on its Avispa Copper Molybdenum Project in Chile Montero Mining and Exploration Ltd. has completed initial geological mapping and geochemical sampling on its Avispa Copper Molybdenum Project in Chile. This work supports Montero’s belief the Avispa project area has been only cursorily explored for potential concealed copper molybdenum porphyry deposits beneath surficial sediments and gravels. Montero’s Avispa concessions cover a 473 km2 area and are located ~40 km’s west of the supergiant Chuquicamata copper molybdenum porphyry deposit. Chuquicamata produced 319,280 tonnes (704 million pounds) of copper and 16,000 tonnes of molybdenum in 2020. Avispa is situated within the defined north-south trending Palaeocene–Eocene Cu-Mo porphyry belt and north of BHP’s Spence Cu-Mo mine and KGHM/South32’s Sierra Gorda Cu-Mo mine. Avispa is also only 20 km east of the extensive north-south trending Caliche Nitrate belt hosting the nearby Maria Elena and Pedro de Valdivia Nitrate-Iodine mines operated by SQM. The geology of the Avispa project consists of an extensive surface cover of lacustrine sediments, evaporite and gravel deposits of Miocene age that are reported to contain anomalous lithium, iodine, and nitrate minerals. These sediments overlay and partially cover Cretaceous volcanics and sediments which are intruded by the target Paleocene monzodiorite and diorite porphyries and Cretaceous andesitic and diorite porphyries. These porphyry rocks host the copper molybdenum porphyry mineralization seen at Spence, Sierra Gorda and Chuquicamata copper molybdenum mines. The Quaternary and Miocene sedimentary rocks to the west of Avispa host the Caliche deposits that are mined at Maria Elena and San Pedro de Valdivia mines for nitrate and iodine. Structurally, the Avispa property is located in the north-south trending Paleocene Cu-Mo porphyry belt in the Atacama region of northern Chile. Two major deep-seated faults appear integral to the emplacement of the giant Cu porphyry deposits in the area, the north-south trending Domeyko Fault System, and the transform northeast-southwest trending Antofagasta-Calama Lineament. Major faults appear to be integral to the emplacement of giant Cu porphyry deposits, such as Chuquicamata, Radomiro Tomic, La Escondida, and also the Spence and Sierra Gorda deposits south of Avispa. A structural interpretation by Montero of the area using remote sensing and airborne magnetic data outlines major structural features occurring within and adjacent to the Avispa concessions. Company geologists have undertaken initial geological mapping and sampling of the Avispa property in order to evaluate the potential for copper molybdenum porphyry mineralization. The target copper molybdenum porphyry deposits are hosted in Cretaceous volcanic and sedimentary rocks that are overlain by an extensive cover of Quaternary and Miocene sediments at Avispa. The limited exposure of the Cretaceous on the property led Company geologists to map and sample these rocks in the San Salvador River valley along the southern border of Avispa. Detailed mapping provided a better understanding of the Cretaceous and Miocene rocks, their geological relationships, structure, and relative thickness. This is important information to interpret geochemistry, geophysics and ultimately the depth of overburden drilling required to intersect potential porphyry mineralisation. Montero mapping confirmed that the Quaternary and Miocene cover rocks are between 20 m to 50 m thick and that in certain areas the Cretaceous rocks are altered and intruded by porphyry rocks of unknown age. The Company collected a total of 37 grab samples of the lithologies exposed in the San Salvador River valley to assist in Cu-Mo porphyry targeting and completed sampling of 48 discarded rock chips piles from historic RC drilling sites at Avispa. The property has undergone wide spaced drilling by previous holders of the concessions, notably by BHP and Quantum Pacific Exploration Chile in the last 15 years. The depth from which the historic RC drill chips piles originated is unknown and it is assumed they are also mixed and therefore only indicative of the subsurface geology. All samples were geologically logged and submitted for 48-element analysis by 4 acid digestion followed by ICP-MS analysis. Board Change • Aug 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Director Jamie Levy was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 11
Montero Mining and Exploration Ltd. Announces Resignation of Jean Des Rivieres as Member of the Board of Directors Montero Mining and Exploration Ltd. announced the resignation of Jean des Rivieres, effective immediately as a member of the Board of Directors of the Company. The Board of Directors will look to fill the vacancy in the coming months. Announcement • May 28
Montero Mining and Exploration Ltd. (TSXV:MON) signed a Binding Purchase and Sale Agreement to acquire Minera Joy SpA. Montero Mining and Exploration Ltd. (TSXV:MON) signed a Binding Purchase and Sale Agreement to acquire Minera Joy SpA on August 5, 2020. Announcement • Jun 25
Montero Mining and Exploration Ltd. Reports Drill Results for All Zone at the Isabella Gold-Silver Project Montero Mining and Exploration Ltd. has completed a total 19 diamond drill holes over 2,088 metres to test 4 vein target areas at its Isabella gold-silver project in Chile. All intersected quartz veins. The assay results for all half-core samples have been received from Andes Analytical Assay (“AAA”) and ALS in Santiago. Montero previously reported assay results for 10 holes completed within Target Area A (April 4, 2021). TARGET AREA B: Six drill holes tested a north-east trending, structurally controlled, high-grade Au-Ag bearing quartz veins exposed at surface. The veins were previously mapped and sampled over a distance of approximately 300 metres strike length. Previous sampling of the veins returned consistently high Au and Ag grades up to 28.2 g/t Au and 36.2 g/t Ag. A narrow 15 cm wide vein exposed in the north-eastern extents of the vein system contained coarse electrum from a narrow vein exposed immediately east of Drillhole ISB20-14. Previous workers trenched across one vein returning 6.5 g/t Au over 5 m and the property owner also opened the Antonia adit underneath the veins and intersected a 1.5 m wide vein with reported assays of 21 g/t Au and 70 g/t Ag at a vertical depth of about 25 metres. The Drillholes were designed to intersect exposed veins at a vertical depth of 30-50 m. All holes with the exception of Drillhole ISB20-19, located about 500 m to the south-west in Figure 2, intersected quartz veins hosted within a muscovite leucogranite. Drillholes ISB20-16 and ISB20-18 intersected quartz veins of 7.8 metre and 7.7 metres in width, respectively. The assays of cut half-core samples from these veins returned low-grade Au-Ag contents. In Drillhole ISB20-16 a 6.9 metre interval returned 0.23 g/t Au in from 91.5 m to 98.4 m with a high of 0.53 g/t Au from 96.5 m to 97.5 m. Drillhole ISB20-16 which was drilled to south-east intersected 2 separate veins of 2.3 m and 2 m width within a wider 7.7 metre zone of narrow quartz stringer veins. These intervals returned 2.3 m of 0.46 g/t Au from 95.2 m to 96.5 m and 2 m of 0.19 g/t Au from 63.2 m to 65.2 m. There was no coincident increase in other elements analysed. However, a 1 m wide sample leucogranite with numerous narrow quartz stringer veins from 80.5 m to 81.5 m returned 13 g/t Ag, 0.13% As, 0.57% Pb and 0.81% Zn with associated a highly anomalous 18 ppm Hg. Other assays values indicating an increase of epithermal vein associated elements at depth include 1 m of 0.18 g/t Au, 5 g/t Ag from 105.5 m to 106.5 m in Drillhole ISB20-16 and 1 m of 1,325 ppm Ba from 89.2 m to 90.2 m in Drillhole ISB20-15. Such intersections suggest presence of superimposed (telescoped) mineral systems within the host structure and the potential for higher grades at depth. TARGET AREA C: Drillholes ISB20-11 and ISB20-12 were completed to test mineralized quartz veins as defined by surface mapping and sampling. Previous work defined multiple north-east trending quartz veins on surface over a distance of 350 m and over a lateral extent of 200 m. Surface chip sampling of exposed veins returned assays of up to 48 g/t Au and 263 g/t Ag. The Drillholes here were designed to intersect the assumed vertical extent of the veins at 30-50 m depth. The Drillholes intersected low-grade 0.11 to 0.19 g/t Au within narrow zones of quartz veining and brecciation within a fine-medium-grained equigranular leucogranite. Drillhole ISB20-11 displays a zone of quartz veins hosted within a potassic-altered, equigranular leucogranite. The assays from 27.9 m to 28.9 m to contain 0.11 g/t Au, 12 g/t Ag, and anomalous 255 ppm As, and 263 ppm Pb. TARGET AREA D: Drillhole ISB20-17 was drilled to test the continuity of a mineralized quartz vein between a small artisanal pit and veins exposed by trenching. Previous surface samples of exposed vein returned 6.4 g/t Au, 98 g/t Au from the pit and 2.7 g/t Au, 207 g/t Ag over 1 m from a vein exposed in the trench. Drilling intersected a 24 m wide zone of altered leucogranite containing several narrow (<10 cm wide) quartz veins and numerous quartz-pyrite stringer veins (<1 cm) within altered leucogranite. Assay intersections include 1 m of 0.41 g/t Au, 6 g/t Ag from 31.3 m to 32.3 m and 1 m of 0.96 g/t Au, 69 g/t Ag from 41.9 m to 42.9 m. These intervals also contain increased concentrations of Cu, Pb and Zn with assays of 0.5% Pb and 0.7% Zn within the latter intersection. Announcement • Jun 16
Montero Mining and Exploration Ltd. Initiates Exploration Program on the Avispa Copper-Molybdenum Property, Chile Montero Mining and Exploration Ltd. announced the commencement of exploration of its 170 km2 Avispa copper molybdenum exploration concessions located in the Atacama Desert of northern Chile. The Avispa project is situated within the well-defined north to south trending late Paleocene to early Eocene Cu-Mo porphyry belt of northern Chile that hosts some giant operating porphyry copper mines. The property is located approximately 40 km north of BHP’s Spence Cu-Mo mine and KGHM’s Sierra Gorda Cu-Mo mine which are situated in this belt. Avispa is also 50 km west of Codelco’s Chuquicamata supergiant porphyry copper mine that occurs within the younger late Eocene – early Oligocene porphyry belt. The property is surrounded by major mining companies with exploration and mining concessions including; Codelco in the north and Freeport and Glencor to the south with Antofagasta and SQM to the east and west. The prospective geology of the Avispa project is below a sequence of cover rocks consisting of gravels and fine-grained clastic sediments intercalated with evaporite deposits of Tertiary age. These sediments are underlain by Paleocene volcanics and Cretaceous monzodiorite and diorite porphyries The Avispa district was previously the target of some wide-spaced exploration drilling. Planned Exploration Program: Montero has completed a thorough investigation of historical information on exploration in this highly prospective area and aims to utilize cutting edge exploration technology with the objective of developing drilling targets. The Company has planned an exploration program that includes; geological mapping, surface sampling, ground, and airborne geophysical surveys. Reconnaissance mapping has shown extensive areas of Tertiary evaporites with intercalated sediments that overlay older volcanic and intrusive rocks hosting the porphyry deposits in the area. The area will be initially mapped and prospected on a scale of 1:10,000. A rock chip and soil sampling program will be undertaken to help define geochemical signatures of any buried mineralization. Geologists will also sample surface RC stockpiles that have been left next to RC drill holed left by previous companies that has drilled in the area. Geophysical work planned in the future will include airborne magnetics over selected areas of the property to define possible buried porphyry targets and controlling structural features. Targets will be prioritized for reverse circulation drill testing. Previous companies to have explored Avispa include BHP that conducted limited drilling on the property at 2 km to 3 km spacing as part of a regional exploration program. Montero believes that there is potential for buried porphyry and porphyry-related deposits with smaller footprints than those sought by major companies. Announcement • Jun 08
Montero Mining and Exploration Ltd Has Mappes an Area of Extensive Quartz Veins in the Newly Staked Isabella Oriental Concession Block Montero Mining and Exploration Ltd. has mapped an area of extensive quartz veins in the newly staked Isabella Oriental concession block. Mapping has also been extended to the Docamavida area south of Isabella where a new style of gold occurrence has been discovered. Both areas are outside of the target areas undergoing drill testing by the Company. The Company has completed a detailed mapping program in select areas to better understand the occurrences of mineralized quartz veins and their spatial association within and adjacent to leucogranite (Figure 1). The mapping has identified a narrow (200 m) band of volcanic rocks that extends in an east-west direction adjacent to the southern contact of the Isabella granite. The volcanic unit is host to numerous gossan breccia boulders that occur south of the Isabella East property and which have been previously described by the Company. Isabella Oriental Detailed Map Area: The mapping has identified numerous structurally controlled quartz veins that are spatially associated with a leucogranite phase of the Isabella granite. Previous sampling of the veins prior to Montero reported assays up to 0.56 g/t Au and 19 g/t Ag. Two dominant quartz vein systems are identified; a 1.25 km long north-east trending vein array, and a 1 km long north-south trending vein array. Individual quartz veins are up to 3 m in width. Mapping has also confirmed the extent of volcanic rocks within the metasediments along the southern contact of the Isabella granite pluton. Quartz veins have been identified within the volcanics and also in metasediment adjacent to the leucogranite and represent exploration targets for potential Au-Ag mineralized quartz veins. Docamavida Map Area: The Docamavida area is located south of the Mataquito river and was the site of historical mining activity. Previous exploration prior to the acquisition by Montero identified abundant quartz boulders at surface and also quartz veins within granitic rock. Reported assays of exposed veins range up to 2.5 g/t Au and 12 g/t Ag with high concentrations of arsenic of up to 3,000 ppm As. The Isabella veins to the north, in contrast, contain very low As concentration. The quartz veins at Docamavida display massive to breccia textures with evidence of repeated faulting along vein margins. Individual veins are up to 2.5 m in width and up to 100 m in strike length. Veins have a lenticular morphology and form part of a more extensive extensional vein system. Mapping confirmed the presence of historical mine pits and exposed quartz veins. The veins are controlled within north-east structures and occur within a leucogranite similar to that described in the Isabella area to the north and also within fault zones along the contact with metasediment inliers. Samples of quartz veins collected by Montero from a fault zone assayed up to 0.69 g/t Au and 1,144 ppm As. The mapping also discovered an area of quartz tourmaline breccia dykes in the southern part of the property for which samples collected by Montero assayed up to 1.4 g/t Au and 183 ppm Bi. Montero will continue to evaluate areas of the Isabella properties as part of a district wide resource assessment. Announcement • Feb 18
Montero Mining and Exploration Ltd. Identifies Additional Potential for Sediment-Hosted Mineralization At Isabella Gold Silver Project, Chile Montero Mining and Exploration Ltd. announced that it has conducted additional exploration work to support the potential for sediment-hosted mineralization south of the granite-sediment contact within the Isabella Project area. The Isabella Project is located approximately 200 km south of Santiago and 125 km south of Yamana’s Minera Florida mine in the Southern Coastal Range of Chile. Montero’s geologists have analyzed and re-interpreted previous geological, sampling and geophysical work in the area of the granite-sediment contact and has defined initial drill targets to test areas of potential sediment-hosted mineralization. Discovery of such mineralization would present Montero with a potential bulk minable resource target at Isabella. Recent geological mapping by Montero geologists has aided in interpreting the granite intrusive that hosts Au-Ag mineralized quartz veins. The porphyritic granite has been identified as being of Lower Mesozoic (Jurassic to early Cretaceous) and the adjacent sediments as being marine in nature and of Triassic age (Munoz, 1993). Geological mapping revealed a texturally distinct leucocratic granite unit that occurs along the contact between the granite and the sediments in the Isabella area. Montero has completed additional geological mapping and further evaluation of UAV magnetic data from a 2018 survey completed over a central part of the Isabella property. The survey was completed by Santiago-based, GfDas using a drone with a potassium vapour magnetometer. The objective of the survey at the time was to obtain magnetic data for an area of the granite – sediment contact to better understand the structural controls hosting the high-grade Au-Ag quartz vein arrays in the granite. Survey data indicates that the granite is characterized by low-moderate magnetic response whereas the adjacent sediments are marked by discrete zones of high magnetics along the granite contact. Montero geologists have also confirmed occurrence of an area of iron-oxide rich breccia within an area of high magnetics adjacent to the granite-sediment contact and a body of leucogranite. Samples of the iron-oxide breccia returned anomalous concentrations of up to 366 ppm Cu, 408 ppm Zn and 2 g/t Ag. Montero will prioritize this area for initial drill testing as part of the current Isabella drill program. Initial field mapping indicates that other high magnetic zones are associated with similar iron-oxide rich brecciated sediment. As such, Montero will complete detailed mapping and sampling over the high magnetic zones to determine the potential for sediment-hosted base metal mineralization related to similar structural controls as those hosting the Au-Ag-bearing quartz veins within the granite. Announcement • Feb 03
Montero Mining and Exploration Ltd. Completes Drilling of Target A at The Isabella Gold Silver Project in Chile Montero Mining and Exploration Ltd. has completed 1,096 m of a planned 2,800 m diamond drill program at its Isabella Gold Silver Project in Chile. At Isabella 2,600 m of drilling is planned to test gold silver mineralization within 4 separate vein targets and 200 m to test for breccia-type base-metal mineralization in sediments adjacent to the granite contact. Drilling is now complete at Target A and the drill rig has been moved to Target C where 2 holes will be completed before moving to Target B and Target D. Target A drill core is being logged and is being dispatched for assay once core logging is completed. Drilling is being carried out by Mountain Drilling Limitada based in La Serena, Chile, and to adhere to Covid-19 safety protocols, have set up a camp at site to reduce interaction with the local community. The company completed the planned 10 diamond drill holes for a total of 1,096 m. Drilling tested a series of northwest-trending quartz veins along approximately 600 m of strike length at a 25-50 m vertical depth. Montero geologists report that quartz veins with visible sulphides have been intersected in all drill holes. The drill core is HQ diameter and is being logged and cut for sampling by Montero geologists at the company facility in the village of Hualane. Selected intervals of quartz veins and altered granite host-rock have been half-core sampled at 1 m intervals for assay with each batch of 25 samples to include 1 certified reference standard and a sample blank. The samples are being hand delivered by Montero personnel to the Andes Analytical Assay lab in Santiago for assay. Is New 90 Day High Low • Jan 13
New 90-day high: CA$0.88 The company is up 487% from its price of CA$0.15 on 14 October 2020. The Canadian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 4.0% over the same period. Announcement • Dec 24
Montero Mining and Exploration Ltd. Commences Drilling of High-Grade Au-Ag Vein Targets at the Isabella Gold Silver Property Montero Mining and Exploration Ltd. announced that initial drill testing of the Isabella Au-Ag mineralized, quartz vein systems has commenced. The Isabella Properties are located approximately 200 km south of Santiago and 125 km south of Yamana’s Minera Florida mine in the Southern Coastal Range of Chile. The current drilling program will commence with an initial 1,200 meter program to test the vein system in priority target A. This property is situated immediately south of a small, locally operated mine. Target A: Target A consists of multiple high-grade Au-Ag quartz veins that have been defined within a 75 m wide zone of altered granite extending 600 m along strike. Surface samples of vein material returned assays of up to: 8.53 g/t Au, 11.2 g/t Ag and 7.56 g/t Au, 16.8 g/t Ag. Trenches completed over 300 m strike length of the vein array returned: 6.92 g/t Au over 1 m, 2.88 g/t over 2 m, and 1.4 2g/t Au over 12 m (incl 3.53 g/t Au over 3 m). The vein array is contained within a broader zone of anomalous Pb defined as >100 ppm which is characteristic of the high-grade Au veins in the area. Montero sampling within the area as shown in Figure 3. Based on the assay results Montero will drill 6-8 holes for a total 1,200 m to test veins along 600 m of strike length. Vein targets B, C, D will be drill tested during First Quarter 2021 as part of a total 2,600 m initial drill program to test the Isabella vein systems. Montero and the drill company, Mountain Drilling Ltda., have implemented strict Covid-19 risk procedures during the drill program. Is New 90 Day High Low • Dec 22
New 90-day high: CA$0.36 The company is up 109% from its price of CA$0.17 on 22 September 2020. The Canadian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 5.0% over the same period. Announcement • Dec 16
Montero Mining and Exploration Ltd. announced that it has received CAD 2.5 million in funding On December 14, 2020, Montero Mining and Exploration Ltd. (TSXV:MON) closed the transaction. The company issued 16,666,667 units for gross proceeds of CAD 2,500,000. The transaction included participation from , Jean Des Rivieres for 170,000 Units and Jamie Levy for 400,000 Units. The Company has agreed to pay a commission of CAD 99,270 in accordance with the policies of the Exchange. PowerOne Capital Markets Limited acted as a finder in connection with a portion of the Offering. Is New 90 Day High Low • Nov 27
New 90-day high: CA$0.28 The company is up 93% from its price of CA$0.14 on 28 August 2020. The Canadian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 10.0% over the same period. Is New 90 Day High Low • Nov 21
New 90-day high: CA$0.23 The company is up 88% from its price of CA$0.13 on 21 August 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 10.0% over the same period. Is New 90 Day High Low • Nov 07
New 90-day high: CA$0.22 The company is up 38% from its price of CA$0.16 on 07 August 2020. The Canadian market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 3.0% over the same period. Announcement • Oct 30
Montero Mining and Exploration Ltd. announced that it expects to receive CAD 2.1 million in funding Montero Mining and Exploration Ltd. (TSXV:MON) announced a non-brokered private placement of up to 14,000,000 units at a price of CAD 0.15 per unit for gross proceeds of up to CAD 2,100,000 on October 29, 2020. Each unit will consist of one common share and one half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of CAD 0.25 per common share until the date which is twenty four months following the closing date of the transaction. The warrants are subject to acceleration clause. The completion of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities. The securities issued and issuable in the transaction will be subject to a four month and one day statutory hold period. The transaction is expected to close on or about December 2, 2020. Announcement • Oct 27
Montero Appoints Jean Des Rivières to Its Board of Directors Montero Mining and Exploration Ltd. has appointed Jean Des Rivières to the Board of Directors effective as of October 23, 2020. For the past 7 years, Jean was Vice President of Exploration of BHP heading their Global Greenfield Copper exploration program. The addition of Jean des Rivières to Montero’s Board of Directors increases the number of directors to 5 and provides the Company with insight into aggressively growing projects through discovery to development in Chile. The appointment of Jean des Rivières is subject to regulatory approval. Announcement • Aug 07
Montero Mining and Exploration Ltd. (TSXV:MON) signed a binding purchase and sale agreement to acquire Isabella Gold Silver Project in Chile from a private Chilean company. Montero Mining and Exploration Ltd. (TSXV:MON) signed a binding purchase and sale agreement to acquire Isabella Gold Silver Project in Chile from a private Chilean company on August 5, 2020. Under the terms of the agreement, Montero has acquired a 100% interest in the private Chilean company which holds all the mineral interests to the Isabella Gold Silver Project. The transaction is subject to corporate and legal process in Chile, and regulatory approval.