Montero Establishes An Average of 10.43% TREO in 55 Grab Samples from the NE Zone of Nyati at the Wigu Hill Rare Earth Project, Tanzania

TORONTO, ONTARIO–(Marketwire – Oct. 11, 2011) – Montero Mining and Exploration Ltd. (TSX VENTURE:MON) (“Montero”) is pleased to announce initial results from the newly located Nyati Target at the Wigu Hill Rare Earth Project in Tanzania. Mapping has defined an 800m by 400m mineralized zone where recent sampling returned values up to 18.21% TREO. Nyati has a larger mineralized footprint than any zone previously explored at Wigu Hill and is yet to be drill tested.