Montero Announces Infill Drilling Results of 11.7m at 7.35% TREO at the Wigu Hill Rare Earth Project in Tanzania

TORONTO, ONTARIO–(Marketwire – Nov. 15, 2011) – Montero Mining and Exploration Ltd. (TSX VENTURE:MON) (“Montero”) has completed an infill drilling program at the Twiga Zone at the Wigu Hill Rare Earth Project in Tanzania. Infill drilling was completed to define the extent of the high-grade rare earth mineralization to upgrade the current resource of 3.3 million tonnes at 2.6% LREO5 (Light Rare Earth Oxide) with a higher-grade portion of 510,000 tonnes averaging 4.4% LREO5 from an Inferred to an Indicated category.