TORONTO, ONTARIO--(Marketwire - Sept. 28, 2011) - Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") is pleased to announce that it has retained the services of Renmark Financial Communications Inc. to enhance its investor relations activities in reaching out to the retail stockbroker investor community.
Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, "As a Company that only recently listed its shares publicly, Renmark was selected to enhance Montero's market visibility and assist with introductions to the financial community. In particular, we aim to raise the profile of our flagship project, the Wigu Hill Rare Earth Element deposit in Tanzania where we are focused on adding to our initial resource estimate."
In consideration of the services to be provided, the Company has agreed to a 1 year agreement starting October 1, 2011 to pay a monthly retainer of $5,000 a month to Renmark Financial Communications Inc. Montero has the right to terminate the agreement at any time after 1st April. 2012 upon 30 days notice to Renmark. Renmark Financial Communications does not have any interest, directly or indirectly, in Montero Mining and Exploration Ltd. or its securities, or any right or intent to acquire such an interest.
About Montero Mining & Exploration
Montero Mining and Exploration Limited is a mineral exploration and development company focused on the development of our flagship Wigu Hill Rare Earth Element Project in Tanzania. The Wigu Hill project is a high grade undeveloped Light Rare Earth Element deposit where the company's current focus is further exploration drilling to add to our initial NI 43-101 Mineral Resource Estimate.
Rare Earth Elements (a group of 15 metals) are critical in the advancement and development of emerging "green" technologies and high-tech applications. Currently China produces 97% of world supply of REEs and these are becoming increasingly critical to both 21stCentury technological progress and environmentally sustainable development. 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.
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. Montero plans to operate in an environmentally and socially responsible manner, adding value to all stakeholders. Montero trades on the TSX Venture Exchange under the symbol MON.
Signed. 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.
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.