Montero Signs Letter of Intent with Gravity Worx to Provide Technical Engineering Services FOR the Uis Lithium - TIN Tailings Project, Namibia

MONTERO SIGNS LETTER OF INTENT WITH GRAVITY WORX TO PROVIDE TECHNICAL

ENGINEERING SERVICES FOR THE UIS LITHIUM - TIN TAILINGS PROJECT, NAMIBIA

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

Toronto, Ontario – January 18, 201 9 – Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the

“Corporation”) is pleased to announce it has signed a non -binding Letter of Intent (“LOI”) with Gravity Worx

Mining Solutions (Pty) Ltd (“Gravity Worx”) to provide Technical Services including but not limited to metallurgical

and engineering consulting services for the potential development of the Uis Lithium Tin tailings project (the

“Project”) in Namibia. These Technical Services will be provided at no cost to Montero and will allow Gravity Worx

to develop a non -binding proposal to Montero to supply a metallurgical process plant to process tailings material

containing lithium and tin and operational services on a Build, Own, Operate and Transfer (“BOOT”) basis. Gravity

Worx is currently finalizing a non-compliant Scoping Study on the project.

Dr. Tony Harwood, President an d Chief Executive Officer of Montero commented, “ Montero is pleased to announce

this non-binding Letter of Intent with Gravity Worx to assist in the pote ntial development of the Uis Lithium Tin

Tailings project. Gravity Worx is a specialist engineering com pany that provides fit for purpose engineering and

operational solutions to the minerals sector. Gravity Worx will provide consulting services at no cost to M ontero in

order to be granted the opportunity to present a non -binding proposal for a Build Own Operate and Transfer

solution. The Uis Lithium Tin Tailings project has a NI43 -101 Inferred Mineral Resource of 14.4 million tonnes a t

0.37% lithium (Li2O) and 17.1 million tonnes at 0.0 5% tin (SnO2) in coarse and fine tailings material. Montero and

Gravity Worx are currently evaluating the metallurgy characteristic s of the tailings in order to cost and design a

lithium and tin process plant.”

The Uis Lithium Tin Tailings Project is located in central Namibia near the town of Uis 220 km nort h of Walvis Bay,

Namibia’s largest commercial deep -water port. The project is in the Erongo Region connected by dirt and asphalt

road to the port of Walvis Bay.

The Lithium-Cesium-Tantalum (LCT) pegmatite field that hosts the Uis Tin mine is hosted in metasedimentary units

of the Damara Mobile Belt, the northeast -trending branch of the Neo -Proterozoic, Pan African Damara Orogen in

Namibia. The unzoned albite rich pegmatites at the Uis Tin mine belong to a group of highly fractionated,

cassiterite and lithium-rich rare metal pegmatites.

The Uis Lithium Tin Tailings project comprise s un-weathered surface mine tailings of coarse sand tailings and

slimes derived from the Uis Ti n mi ning operation between 19 24 and 1990 (Diehl, 1992) . The pegmatites were

mined by open cut and hauled to a process plant for crushing and milling for cassiterite extraction. The mine

historically produced 35,400 tonnes of cassiterite concentrate which delivered coarse and fine tailings material on

surface (Diehl, 1992). The tonnage and grade of the tailing material has been substantiated by a mineral resource

estimate announced on the 14th January 2019. The pegmatites at Uis have not previously been min ed o r

systematically sample assayed for lithium.

Qualified Person's 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 Geolo gist to Montero. A review was also undertaken

by Nico Scho ltz, Pr.Sci.Nat., who is a qualified person for the purpose of Na tional Instrument 43 -101 and is a

Namibian based geologist with more than 10 years’ experience. He has extensive experience in rare metal

pegmatite exploration in Namibia having worked on many Lithium-Cesium-Tantalum (LCT) pegmatite intrusions.

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 and tin in Namibia, lithium in Chile,

while looking for partners to advance its phosphates in South Africa and rare earth e lements in Tanzania. Montero

trades on the TSX Venture Exchange under the symbol MON.

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 | 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”, “forecast s”, “intends”, “anticipates” or “does not anticipate”, or

“believes”, or variations of such words and phrases or state that certain actions, ev ents or results “may”, “could”, “wo uld”, “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 actu al results will meet management's expectations . Forward-looking information by it s 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 forw ard-looking information. Actual results relating to, among other things, completion of the HOA, results of

exploration, project development, reclamation and capital costs of Montero’s mineral properties, and fi nancial condition and prospects, could

differ materially from those currently anticipated in such statements for many reasons such as: an inability to complete the HOA on the terms as

announced or at all; changes in general economic conditions and conditio ns in the financial markets; changes in demand and prices for

minerals; litigatio n, l egislative, environmental and other judicial, regulatory, political and co mpetitive 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 fact ors 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.