Toronto, Ontario – October 23, 2025 – Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) has granted 93,716 stock options (the “Options”) to the members of its Board of Directors, management, and consultants pursuant to the Company’s incentive Stock Option Plan. The Options have an exercise price of $0.45 and have a five-year term. The award of Options is subject to regulatory approval.
Dr. Tony Harwood, President and CEO of Montero, commented: “I would like to thank the directors, management, and consultants for their unwavering assistance and support over the past years.”
About Montero
Montero Mining and Exploration Ltd. is a Canadian exploration company focused on the discovery and development of precious and critical mineral projects in Chile.
The Company recently concluded a US$27 million settlement with the Government of Tanzania, resolving the dispute over the expropriated Wigu Hill rare earth project. Approximately $15 million of the settlement proceeds were distributed to shareholders in July 2025.
Montero holds 100% interest in the Avispa copper-molybdenum project in northern Chile and has an option to acquire the Elvira and Potrero gold projects in the Maricunga Belt. These projects are currently being advanced through exploration. The Company’s board and management have a proven track record in discovery and development of precious and base metal projects.
Montero is listed on the TSX Venture Exchange (TSXV: MON) and currently has 8,353,833 Common Shares and 741,667 stock options outstanding.