Montero Demonstrates Rare Earth Mineral Upgrade by Flotation on Bastnaesite-Rich Carbonatite Mineralization from the Wigu Hill Rare Earth Project in Tanzania

TORONTO, ONTARIO--(Marketwired - July 29, 2013) - Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") provides an update on test work performed on the bastnaesite-rich carbonatite material from the Wigu Hill Rare Earth Project in Tanzania. A metallurgical study was completed by SGS-Lakefield in Canada examining flotation processes to upgrade Rare Earth Element ("REE") minerals from the Wigu Hill bastnaesite-rich carbonatite material.

The purpose of the study was to identify a processing route that could recover the rare earth bearing minerals while rejecting major gangue minerals which include; strontianite, dolomite, quartz, and barite. In laboratory scale test work, flotation tests were completed to evaluate various collector types and dosages. The best results from rougher stage tests were achieved from a head grade of 6.42% Ce₂O₃ using a hydroxamate-type collector. Here, the cumulative rougher concentrate graded 12.8% Ce₂O_3, with 79.1% recovery and 48.1% mass pull which represents x2 upgrade. A collector was also selective against barite, quartz, Fe-oxides, and dolomite. The results achieved in the scoping study demonstrate the potential to recover REE minerals into a pre-concentrate and reject the major gangue minerals, which are acid consumers for the downstream hydrometallurgical process.

The report from SGS-Lakefield, an internationally recognized metallurgical research and test work facility in Ontario Canada, will form the basis for further laboratory and pilot scale test work in which flotation, as a mineral processing option, will be further explored and optimized.

Qualified Person's Statement

The technical information contained in this press release has been reviewed by Mr. Mike Evans, M.Sc. Pr.Sci.Nat., who is a qualified person for the purpose of National Instrument 43-101 and a consulting geologist to Montero.

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 and uranium assets in Tanzania and Quebec, Canada for sale or joint venture.

Signed. Dr. Tony Harwood - President and CEO

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