News releases

View News Release in PDF Format | Print Page | Share E-mail Page | Share Share this Page

Montero Appoints Michael Wolley to the Board of Directors

TORONTO, ONTARIO--(Marketwire - Jan. 10, 2012) - Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") announces the appointment of Michael Wolley, former COO of Lynas Corporation, as a Non-Executive Director to Montero's Board of Directors, with immediate effect.

Michael Wolley has over 20 years of international experience in senior management roles in the resources and industrial sectors. Michael served as Chief Operating Officer for Lynas Corporation where he was responsible for the operational organization of the Company's mining and processing of rare earths in Western Australia and downstream minerals processing in Malaysia. Prior to Lynas Corp., Michael held senior roles with industrial and construction businesses across Asia Pacific including President of Bluescope Steel China (formerly BHP Steel), General Manager Operations for Dexion (Australia) Pty Ltd., Manufacturing Manager for WR Grace, Cryovac Packaging and 14 years of experience in various roles with Mobil Oil Australia. Michael has several years' experience in the gold industry and is the Chairman for Red Mountain Mining Ltd., an ASX listed company with China based gold assets.

Michael Wolley has a B.Eng Honours Degree (Chemical and Materials) from Auckland University and a Masters of Management Degree from Macquarie Graduate School of Management. Professional Designations include memberships to the Australian Institute of Company Directors and the New Zealand Institute of Directors.

Michael is currently serving as VP Corporate Development for Todd Corporation, a New Zealand based conglomerate with substantial interests in oil and gas.

Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, "We are excited to have Michael join our Board of Directors as a Non Executive Director. His experience in the resource and chemical engineering industry, particularly in the rare earths sector, and formerly serving as COO of Lynas Corporation, will add considerable value to Montero as we develop our flagship Wigu Hill Rare Earth Project in Tanzania into mining, production and refining of rare earths."

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 respectively. 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 updating the initial NI 43-101 Mineral Resource Estimate and advancing the hydro-metallurgical testwork with Mintek. 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 through the development of our portfolio of properties. Montero trades on the TSX Venture Exchange under the symbol MON.

Signed. Dr. Tony Harwood - President and CEO

CAUTIONARY STATEMENT: 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. This News Release includes certain "forward-looking statements".

For more information, contact:

Montero Mining and Exploration Ltd.
Richelle Chapman,
IR Communications
+1 416 840 9197
+1 866 688 4671 (FAX)

Renmark Financial Communications Inc.
Peter Mahzari:
Arash Shahi:
(514) 939-3989 or (416) 644-2020