TORONTO, ONTARIO--(Marketwire - Oct. 20, 2011) - Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") has appointed Mr. Grant Pierce, OAM as Country Manager for Montero's Tanzanian operations including the Wigu Hill Rare Earth Element Project. Mr. Pierce will be responsible for all in-country business to progress the Wigu Hill REE Project through the Environmental Impact Assessment and Feasibility Study stages with the goal of developing the project into a mine. Mr. Pierce has a proven track record in managing both corporate business and mining operations with exposure to both operational and construction environments with a keen sensitivity to African cultures and customs.
Mr. Pierce is a mining engineer with over 20 years of experience in both open-pit and underground mining. He has actively worked in Africa over the course of his career in senior management roles with major mining and exploration companies. Previous experience includes roles as Operations Manager for Resolute Mining Ltd.'s Golden Pride Project, the first major gold mine in Tanzania; Executive General Manager for Barrick Gold Corporation in Tanzania; Country Manager for Africo Resources Ltd. in the Democratic Republic of Congo, General Manager of Albidon Ltd.'s Munali Nickel Mine, Zambia's first nickel mine and more recently, General Manager Operations for Perseus Mining Ltd. in Ghana bringing the new Edikan Gold mine into production. He has a Bachelor of Engineering (Mining) degree from the Ballarat College of Advanced Education and a Diploma of Engineering in Mining Engineering from the Royal Melbourne Institute of Technology in Australia.
Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, "Grant is a well-known mine builder with valuable experience gained in senior management positions over the course of his career. He has been involved in the development, construction and operations of world-class projects for major mining companies in Africa. With over 20 years experience in mine building and sustainable development, Grant has the expertise to greatly assist Montero in realizing our target to fast track our Wigu Hill REE deposit to the mining and production stage. We are pleased to welcome Grant to the Montero team!"
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.
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