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Montero Provides Corporate Update

TORONTO, ONTARIO--(Marketwire - Jan. 9, 2012) - Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") invites shareholders, investors and interested parties to participate in a conference call including a corporate update and Q&A session with President & CEO Dr. Tony Harwood as the company lists with the S&P (Standard and Poors) Capital IQ's Market Access Program.

Conference Call: Tuesday, January 10th, 2012 at 11:15am EST

Tony Harwood will discuss progress to date on the exploration at the Wigu Hill Rare Earth Element deposit and hydrometallurgy testwork completed by Mintek as Montero targets fast-tracking the project to mining, production and refining of rare earths by 2013. The call will consist of a 20 minute presentation followed by a further 20 minute Q&A and will be hosted and introduced by Arrowhead Business and Investment Decisions team.

To participate in the conference call, please dial in 5 minutes prior to the scheduled start time:
January 10th 2012 at 11:15am EST (Eastern Standard Time)
Dial-in Number: +1 858 200 4950
Conference code: 3942477#

An updated presentation on Montero is available on the corporate website (http://www.monteromining.com).

S&P Capital IQ's Market Access

Montero's company information is now available via S&P Capital IQ's Market Access Program, an information distribution service that enables subscribing publicly traded companies to have their company information disseminated to users of S&P Capital IQ's MarketScope Advisor. The company information made available through this program includes share price, volume, dividends, shares outstanding, company financial position, and earnings. MarketScope Advisor is an Internet-based research engine used by more than 100,000 investment advisors. A public version of the site is available at http://advisor.marketscope.com.

In addition, information about companies in S&P Capital IQ's Market Access Program will be available via the firm's Stock Guide database, which is distributed electronically to virtually all major quote vendors. As part of the program, a full description of Montero Mining & Exploration Ltd. will also be published in the Daily News section of Standard Corporation Records, a recognized securities manual for secondary trading in up to 38 states under their Blue Sky Laws.

About S&P Capital IQ

S&P Capital IQ, a brand of the McGraw-Hill Companies (NYSE:MHP), is a leading provider of multi-asset class data, research and analytics to institutional investors, investment advisors and wealth managers around the world. We provide a broad suite of capabilities designed to help track performance, generate alpha, identify new trading and investment ideas, and perform risk analysis and mitigation strategies. Through leading desktop solutions such as Capital IQ, Global Credit Portal and MarketScope Advisor desktops; enterprise solutions such as S&P Securities Evaluations, Global Data Solutions, and Compustat; and research offerings including Leveraged Commentary & Data, Global Market Intelligence, and company and fund research, S&P Capital IQ sharpens financial intelligence into the wisdom today's investors need.

Montero featured in the January Issue of the International Resource Journal
http://www.internationalresourcejournal.com/E-MAG/2012/Jan/IRJ.php

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)
ir@monteromining.com
www.monteromining.com

Renmark Financial Communications Inc.
Peter Mahzari: pmahzari@renmarkfinancial.com
Arash Shahi: ashahi@renmarkfinancial.com
(514) 939-3989 or (416) 644-2020
www.renmarkfinancial.com

S&P Capital IQ Customer Contact
Richard Albanese
+1 212 438 3647
richard_albanese@standardandpoors.com

S&P Capital IQ Media Relations Contact
Michael Privitera
+1 212 438 6679
michael_privitera@standardandpoors.com