MON Montero Mining and Exploration Ltd

Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") announces that
it has increased its shareholding interest in the Wigu Hill Rare Earth Element
Project in Tanzania by a further 10.81% from the original 70% shareholding to an
80.81% interest in the project. The increase in Montero's interest is pursuant
to the Shareholders Agreement signed last year with our partner RSR (Tanzania)
Ltd. on September 22, 2011 (see news release dated 04/10/2011).


Montero has submitted the Environmental and Social Impact Assessment Report
("ESIA"), including a non-technical executive summary for the potential to mine
rare earth elements, to the National Environment Management Council (NEMC) in
Tanzania. The ESIA is a crucial step in obtaining the Environmental Permit,
required for the Mining License application for a mining operation to commence
on a portion of the Wigu Hill Project area upon completion of feasibility work.


Dr. Tony Harwood, President and CEO of Montero commented, "With a further
increase in our interest in the Wigu Hill REE Project, our equity stake in our
flagship project is secured and we are advancing the project to a mining stage.
The submission of the ESIA to NEMC is a further step towards the application of
a mining licence and the requirement for a feasibility study. Montero remains
focused on de-risking the Wigu Hill Project and targeting a fast-track strategy
for early production of rare earths. Discussions with potential strategic and
off-take partners continues and we are pleased to report how our fast-track
strategy is advancing."


About Montero Mining & Exploration 

Montero Mining and Exploration Ltd. is a mineral exploration and development
company engaged in its flagship Rare Earth Elements (REE) Project Wigu Hill in
Tanzania, has phosphate assets in South Africa and uranium assets in Tanzania
and Quebec, Canada. The flagship Wigu Hill REE Project is a high-grade,
undeveloped Light Rare Earth Element deposit, where the current focus is on the
fast track strategy to advance a portion of the large deposit to the mining and
production stage in the short-term whilst defining a larger deposit and further
advancing the hydro-metallurgical testwork with Mintek. 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's growth strategy is to de-risk the Wigu Hill Rare Earth Element project
and bring this to account through eventual rare earth production and cash flow,
while operating in an environmentally and socially responsible manner. Montero
trades on the TSX Venture Exchange under the symbol MON.


Dr. Tony Harwood, President and CEO

CAUTIONARY STATEMENT: This News Release includes certain "forward-looking
statements". These statements are based on information currently available to
the Company and the Company provides no assurance that actual results will meet
management's expectations. 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. 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 the Company's mineral properties, and the Company'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 the activities of the
Company; and other matters discussed in this news release. This list is not
exhaustive of the factors that may affect any of the Company's forward-looking
statements. These and other factors should be considered carefully and readers
should not place undue reliance on the Company's forward-looking statements. The
Company does not undertake to update any forward-looking statement that may be
made from time to time by the Company or on its behalf, except in accordance
with applicable securities laws.

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