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

Marketwired

TORONTO, ONTARIO--(Marketwired - Jul 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% Ce2O3, 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.

Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, "Advancing the mineral processing flowsheet with the flotation testwork completed by SGS-Lakefield, keeps us on a production focused target for our flagship Wigu Hill project. These positive results represent a significant step in advancing the beneficiation process and improving Montero's economic flowsheet for the extraction of REEs from the bastnaesite-rich carbonatite mineralization. By reducing downstream reagent consumption costs we are on track to becoming a low cost producer of Rare Earths."

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

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". This News Release includes certain "forward-looking statements". These statements are based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements with respect to Montero's future plans, objectives or goals, including words to the effect that Montero 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 Montero's mineral properties, and Montero'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 Montero's activities; and other matters discussed in this News Release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Montero's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Montero's forward-looking statements. Montero does not undertake to update any forward-looking statement that may be made from time to time by Montero or on its behalf, except in accordance with applicable securities laws.

Contact:
Montero Mining and Exploration Ltd.
+1 416 840 9197
+1 866 688 4671
ir@monteromining.com
www.monteromining.com

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