MON Montero Mining and Exploration Ltd

Montero Mining and Exploration Ltd. (TSX-V: MON) has appointed Jean Des Rivières to the Board of Directors effective as of October 23, 2020. Jean des Rivières is a geologist by profession who worked for the past 23 years for the BHP group of companies. He first worked in Chile in 2002 and between 2005 to 2019 lived a total of 10 years in Santiago, Chile. For the past 7 years, Jean was Vice President of Exploration of BHP heading their Global Greenfield Copper exploration program. Jean’s strategic planning, management and guidance contributed to the recent discovery of the Oak Dam West Copper-Gold deposit in South Australia and his strategic guidance contributed to the discovery of Escondida Este and Sur in Chile. Prior to joining BHP, Jean spent 13 years in the field managing exploration programs for Noranda in Canada, Mexico, Central America and the Caribbean. While at Noranda, Jean led the exploration teams responsible for the gold discoveries at the Monument Bay and Oxford Lake projects in Manitoba. During his career, Jean has reviewed projects in over 50 countries with a significant focus in Chile.

“We are delighted to have Jean join Montero’s Board of Directors,” commented Dr. Tony Harwood, President of Montero. “Jean’s experience evaluating greenfield projects globally for BHP reinforces Montero’s belief that our Isabella gold project in the southern coastal range of Chile has the potential to host a tier one gold deposit. In Chile, Jean was part of the discovery team of the Oak Dam West and Escondida Sur and Este copper-gold deposits.”

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.

About MonteroMontero is a junior exploration company focused on finding, exploring, and advancing globally significant gold deposits in Chile. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on gold opportunities in Chile. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 21,880,818 shares outstanding.

For more information, contact: Montero Mining and Exploration Ltd. Dr. Tony Harwood, President and Chief Executive OfficerE-mail: ir@monteromining.com Tel: +1 416 840 9197 www.monteromining.com

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.CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forwardlooking 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. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to complete the Offering on the terms or on the timeline as announced or at all, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.