MON.V · 2021-04-06 12:00:00

Montero Update on Drill Program at The Isabella Gold-Silver Project in Chile

Drill Results

Toronto, Ontario – April 6, 2021 – Montero Mining and Exploration Ltd. (TSX-V: MON) has completed a total of

2,088 meters of diamond drilling and test ing of 4 vein target areas (Table 1) at its Isabella gold -silver project in

Chile. A total of 19 drill holes have been completed to date where multiple quartz veins and enclosing leucogranite

microgranite were intersected in 17 holes. Half-core samples have been submitted to Andes Analytical Assay (AAA)

and check assays to ALS Chile, both in Santiago. Montero has received initial assay results for vein Target area A.

Figure 1: Isabella Gold Project drill target areas and completed drill holes in each area.

Dr. Tony Harwo od, President of Montero commented, “Shallow drilling at Target A intercepted consistent

intersections of quartz veins enclosed in a quartz -sericite-pyrite altered leucogranite with anomalous Au Ag values.

Assay results from drill holes completed on Targets B, C and D are expected shortly.”

At Target A , a total of 10 HQ size diamond drill holes were completed over a total of 1,095 meters . Maximum

values of 1.88 g/t Au and 16 g/t Ag were reported from the veins at Target A while a ssays from the adjacent

altered leucogranite also contains low to anomalous Au Ag mineralization.

Table 1: Compiled significant intersections from Target A drillhole assays.

ISB20-01 20.1 27.6 7.5 0.34 NS 222 200 103 NS

incl. 25.5 26.6 1.0 0.94 NS NS NS 262 NS

ISB20-02 32.2 37.9 5.7 0.34 NS 344 102 535 NS

incl. 34.4 35.6 1.2 0.67 9 275 233 612 123

ISB20-03 20.1 22.0 1.9 0.55 NS 182 NS 247 NS

ISB20-04 34.3 35.2 0.9 1.8 6 NS NS 217 NS

ISB20-06 4.0 7.0 3.0 0.4 NS 133 NS NS NS

ISB20-07 25.5 27.0 1.5 0.56 NS NS NS NS NS

ISB20-08 76.8 78.8 2.0 0.65 15 200 296 2,037 60

ppm

Drillhole

Number

From

Width

g/t

NS: No significant assay results. No significant assay results in drill holes number ISBN20-05, 09 and 10.

The quartz veins sampled from drill core are consistent with Au enrichment and concomitant enrichment of Pb and

Ba in reported assays of surface vein samples. The enrichment of Ba (4885 ppm), Pb (3346 ppm) and also Mo (262

ppm) and Sb (101 ppm) suggests a complex mineral system with perhaps overprinting of fluid types. This is

particularly suggested by a 1 m assay of 0.14 g/t Au, 3 g/t Ag, and 4,885 ppm Ba from a quartz vein at 128.5 m in

hole ISB20-08 which would infer the possibility of a deep mineral system.

At Target A t he holes were lo cated to test a defined system of structurally -controlled quartz veins along

approximately 600 meters strike length and to a depth of 20 - 60 meters vertically (Figures 2-3). Severa l scissor

holes were completed to test vein continuity at variable depth along strike. Multiple, steeply-dipping, quartz veins

ranging from 0.3 m to 7.5 m in apparent width were intersected. The veins are structurally -controlled, often

showing evidence o f fault-breccia along vein contacts with the quartz also fractured and bre cciated. P oor core

recovery was experienced in some of these zones . The veins are invariably hosted within an altered leucogranite

which shows pervasive quartz -sericite-pyrite (QSP ) alteration. There is evidence of low gold values within the

leucogranite where alteration is most intense as shown by Au values up to 0.19 g/t Au with associated Ag (10 g/t),

Ba (819 ppm) and Pb (1028 ppm) . The leucocratic granite is the preferred host for the quartz veins and likely

represents a distinct intrusive phase of th e host porphyritic granite. The porphyritic biotite granite when

intersected in drill core shows locally intense hematite -chlorite alteration but no observed association with quartz

veins.

Figure 2: Target A Drill Hole Locations and Collar Information.

Previous surface mapping and sampling of exposed quartz veins indicated the presence of several quartz veins

confined within a 75 m wide zone of al tered granite extending 600 m along strike. Surface samples of vein

material returned assays up to: 8.53 g/t Au, 11.2 g/t Ag and 7.56 g/t Au, 16.8 g/t Ag. Trenches completed over 300

m strike length of the vein array returned: 6.92 g/t Au over 1 m, 2.88 g/t over 2 m, and 1.42 g/t Au over 12 m (incl.

3.53 g/t Au over 3 m). The vein array is contained within a broader zone of anomalous Pb defined as >100 ppm.

Figure 3: Cross section of Target A Drillholes ISB20-1 and ISB20-2.

The core received from drilling Target areas B, C & D have been logged and samples submitted to AAA with check

assays submitted to ALS. The remaining drilling will commence once current results have been assessed and new

drill pads constructed. The balance of results are expected in April 2021 with continuation of drilling to commence

soon after.

Qualified Person

This press release was reviewed and approved 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. Mr. Vergara has visited

the property and reviewed prev ious sampling techniques and analysis and supervised Montero sample collection

and analyses. Sr. Vergara has extensive experience in gold exploration in Chile. All drill core was lo gged and

selected intervals of drill core were cut in half using a rock saw . Samples were submitted in batches of 30 samples

with each batch contained a 1 blank and 1 certified reference material sample for QA /QC. Samples were

transported and hand deliver ed by a Montero geologist to the assay lab oratory under the supervision of the

Qualified Person.

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 Af rica 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 met al pr ojects. Mo ntero trades on the TSX Venture

Exchange under the symbol MON and has 38,647,485 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 | 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

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“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 assura nce

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, completion of the HOA, results of

exploration, project development, reclamation and capital costs of Montero’s mineral prope rties, and financial 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 condi tions and conditions in the financial markets; changes in demand and prices fo r

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

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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.

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