Montero Adopts Gold Focus Following COVID-19 Pandemic
Montero Adopts Gold Focus Following COVID-19 Pandemic
Toronto, Ontario – June 5, 2020 – Montero Mining and Exploration Ltd. (TSX-V: MON or “Montero”) has seen a
decline in battery metal prices over the last 12 months which has been exacerba ted by the COVID-19 pandemic
and its effect on global economics. For these reasons the board has decided to change the Company focus to that
of exploration for gold deposits in Latin America. Montero’s board of directors and management have an
impressive track record of successfully discovering and advancing precious metal projects.
Montero’s Board of Directors also continues to monitor and assess the health and safety risks to Company
employees, partners, contractors and local communities in countries w here Montero holds assets. Although the
Covid 19 pandemic is an evolving crisis, national governments are attempting to provide clear po licies and
guidelines to mitigate health and safety risk associated with the spread of the COVID -19 virus. Montero believes
its best course of action given the global s hut down is to relinquish its early stage battery metal projects in Africa
and reduce its corporate structure. Montero will retain its Tanzanian corporation and defend its rights to the Wigu
Hill rare earth project in Tanzania where it has made a substantial investment . Montero filed a Notice of Intent to
Submit a Claim to Arbitration to the Attorney General of Tanzania on 17th January, 2020 to protect its investment.
Montero will now adopt a one country gold exploration focus on Latin America and will provide regular updates.
About Montero
Montero is a junior exploration company focused on finding, exploring and advancing globally significant gold
deposits in Latin America. The Company is in the pr ocess of relinquishing its portfolio of battery metal projects in
Africa to focus on gold opportunities in Latin America. 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 21,880,818 shares outstanding.
For more information, contact:
Montero Mining and Exploration Ltd.
Dr. Tony Harwood, President and Chief Executive Officer
E-mail: [email protected]
Tel: +1 416 840 9197
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 s ecurities l aws. 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 e xpect”, “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”, “mig ht” or
“will be taken”, “occur” or “be achieved”. Such inf ormation 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 nat ure involves inherent risks and uncertainties that may cau se 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, projec t development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, could di ffer materially
from those currently anticipated in such statements for m any reasons such as: changes in general economic condition s and conditions in the financial markets; changes in
demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competit ive developments; t echnological and operational
difficulties encountered in c onnection with Montero’s activities; and other matters discussed in this news release and in filings made with securities reg ulators. This list is not
exhaustive of the factors that may affect any o f Montero’s forward-looking statements. These and other fa ctors 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, ex cept in acc ordance with applicable
securities laws.