Montero Completes Drilling of Target A at The Isabella Gold Silver Project in Chile

Toronto, Ontario – February 2, 2021 – Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) has completed 1,096 m of a planned 2,800 m diamond drill program at its Isabella Gold Silver Project (“Isabella”) in Chile.  At Isabella 2,600 m of drilling is planned to test gold silver mineralization within 4 separate vein targets and 200 m to test for breccia-type base-metal mineralization in sediments adjacent to the granite contact. Drilling is now complete at Target A and the drill rig has been moved to Target C where 2 holes will be completed before moving to Target B and Target D. Target A drill core is being logged and is being dispatched for assay once core logging is completed. Drilling is being carried out by Mountain Drilling Limitada based in La Serena, Chile, and to adhere to Covid-19 safety protocols, have set up a camp at site to reduce interaction with the local community.

Dr Tony Harwood, President of Montero commented: “The maiden drill program at Isabella has progressed well with drilling completed at Target A intercepting quartz veins with visible sulphides in all holes. The drill rig has been moved to Target C where 2 drill holes will test below a series of northeast trending quartz veins exposed and historically mined pits where surface sampling returned up to 48 g/t Au and 263 g/t Ag.”


Figure 1: Location map showing 4 vein drill target areas hosted over 25 km strike length at Isabella.


Target A – Isabella West Drilling

The Company completed the planned 10 diamond drill holes for a total of 1,096 m. Drilling tested a series of northwest-trending quartz veins along approximately 600 m of strike length at a 25-50 m vertical depth (Figure 2).  Montero geologists report that quartz veins with visible sulphides have been intersected in all drill holes (Figure 3 and Figure 4).  The drill core is HQ diameter and is being logged and cut for sampling by Montero geologists at the company facility in the village of Hualane. Selected intervals of quartz veins and altered granite host-rock have been half-core sampled at 1 m intervals for assay with each batch of 25 samples to include 1 certified reference standard and a sample blank. The samples are being hand delivered by Montero personnel to the Andes Analytical Assay lab in Santiago for assay.


Figure 2: Location of Isabella drill holes 1 through 10 Target A.


Figure 3: Core Box for Hole ISB20-1 from 24.5 m to 29.1 m showing quartz vein and intensely altered and brecciated leucocratic granite wallrock. Each core box row is 50 cm in length.


Figure 4: Disseminated sulphides within quartz vein intersected in hole ISB20-3.


Table 1: Target A Drill Hole Collar Details (PSAD56-19S datum).


Qualified Person Statement

This press release was reviewed and approved by Mr. Mike Evans, M.Sc. Pr. Sci. Nat., who is a qualified person for the purpose of National Instrument 43-101 and a Consulting Geologist to Montero. A review was also undertaken by Sr. Marcial Vergara B.Sc. who is resident of Chile and a Qualified Person for the purpose of National Instrument 43-101 and a technical advisor to Montero. Sr. Vergara is directly supervising all parts of the drill program. Sr. Vergara has extensive experience in gold exploration in Chile.


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 gold opportunities 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 38,647,485 shares outstanding.


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