TSX.V: MON $0.215 | Gold Price $—

Montero Announces AGM Results

December 15, 2020

Toronto, Ontario – December 15, 2020: Montero Mining and Exploration Ltd. (TSX.V: MON) (“Montero” or the “Company”) is pleased to announce that at the Company’s Annual General Meeting held Tuesday, December 15, 2020 (the “Meeting”), all resolutions proposed were duly passed by the shareholders of the Company.

 

Shareholders of the Company elected Dr. Antony Harwood, Gregory Hall, Andrew Thomson, Jamie Levy and Jean des Rivieres as directors of the Company for the ensuing year.

 

Dale Matheson Carr-Hilton LaBonte LLP, Chartered Professional Accounts, were re-appointed as the Company’s auditor for the ensuing year, and authorized the Board of Directors to fix the remuneration to be paid to the auditor.

 

The Company’s 10% “rolling” stock option plan was also approved.

 

Following the Meeting, the Board of Directors appointed the following officers of the Company:  Dr. Antony Harwood as President and Chief Executive Officer, Sheri Rempel and interim Chief Financial Officer and Corporate Secretary (the “Management”).

 

The Board of Directors and Management would like to thank all shareholders for their support and confidence.

 

About Montero

Montero is a junior exploration company focused on finding, exploring and advancing globally significant gold deposits in Chile. The Company is in the process of relinquishing its portfolio of battery metal projects in Africa to focus on the Isabella gold project in Chile. Montero’s board of directors and management have an impressive track record of successfully discovering and advancing precious metal projects. Montero trades on the TSX Venture Exchange under the symbol MON and has 38,547,485 shares outstanding.

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For more information, contact:

Montero Mining and Exploration Ltd.
Dr. Antony Harwood, President and Chief Executive Officer
Email: 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 with respect to the Offering. 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, approval and completion of the Offering whether or under the terms described above or not, 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.