Montero Appoints Jamie Levy to Board of Directors

NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES

TORONTO, May 15, 2018 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON ) has appointed Jamie Levy to the Corporation's Board of Directors and granted incentive stock options to the Board of Directors, Management and consultants.

Jamie Levy has over 10 years of experience in the mining industry and an exceptional track record for raising capital and managing listed Canadian companies. Most recently, Jamie was the President and CEO of Pine Point Mining and has held various positions in Canadian listed companies and financial institutions.

Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, “We are delighted to have Jamie join Montero’s Board of Directors. Jamie’s previous experience in raising capital to develop projects and companies in Canada will add significant value to build Montero as a new battery metals lithium company.”

The addition of Jamie Levy to the Board of Directors increases the number of the Company's directors to 5 and achieves the objective of strengthening the Board's overall calibre, diversity and skill set.

Subject to regulatory approval, Montero has granted 1,752,000 Stock Options to the Board of Directors, Management and consultants pursuant to the Corporation's incentive Stock Option Plan.

About Montero

Montero is a mineral exploration and development company engaged in the identification, acquisition, evaluation and exploration of mineral properties in Africa. Currently these include Lithium, Tantalum and Tin in Namibia, Phosphates in South Africa and Rare Earth Elements (REE) in Tanzania. Montero is reviewing and evaluating other opportunities from its operating base in South Africa. Montero trades on the TSX Venture Exchange under the symbol MON.

For more information, contact:

Montero Mining and Exploration Ltd. Dr. Antony Harwood , President and Chief Executive Officer E-mail: ir@monteromining.com Tel: +1 416 840 9197 | Fax: +1 866 688 4671 www.monteromining.com

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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements, projections and estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations  of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will  be taken”, “occur” or “be achieved”. Such information is based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking information by its very nature involves inherent risks and uncertainties that may cause the actual results, level of activity, performance, or achievements of Montero to be materially different from those expressed or implied by such forward-looking information. 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 accordingly, readers should not place undue reliance on forward-looking information. Montero does not undertake to update any forward-looking information, except in accordance with applicable securities laws.