Toronto, Ontario–(Newsfile Corp. – January 26, 2026) – Montero Mining and Exploration Ltd. (TSXV: MON) (OTCID: MXTRF) (FSE: ES0) (“Montero” or the “Company“) announces that Mr. Andrew Thomson has stepped down as a Director of the Company and as Chair of the Audit Committee, effective January 26, 2026, to pursue other professional opportunities.
Mr. Thomson has been a long-standing and loyal supporter of Montero, having served the Company for many years. During his tenure, he provided valuable guidance and oversight, particularly in his role as Chair of the Audit Committee and made a meaningful contribution to the Company’s governance and strategic direction.
The Board of Directors and management would like to thank Mr. Thomson for his dedication, professionalism, and commitment to Montero and wish him every success in his future endeavours. He will be greatly missed.
The Company further announces that Mr. Tim Livesey, a current Director of Montero, has accepted the role of Interim Chair of the Audit Committee. Mr. Livesey is a seasoned mining executive with extensive experience in corporate governance, project development, and international mining operations.
About Montero
Montero Mining and Exploration Ltd. is a Canadian exploration company with a focus on mineral development in emerging markets. Montero holds 100% interest in the Avispa copper-molybdenum project in northern Chile and has an option to acquire the Elvira and Potrero gold projects in the Maricunga Belt. These projects are currently being advanced through exploration. The Company’s board and management have a proven track record in discovery and development of precious and base metal projects.
The Company recently concluded a US$27 million settlement with the Government of Tanzania, bringing closure to the dispute over the expropriated Wigu Hill rare earth project. Approximately $15 million of the settlement proceeds were distributed to shareholders in July 2025.
Montero is listed on the TSX Venture Exchange under the symbol MON and has 8,353,833 Common Shares and 835,383 stock options outstanding.
For more information, contact:
Montero Mining and Exploration Ltd.
Dr. Tony Harwood, President, and Chief Executive Officer
E-mail: ir@monteromining.com
Tel: +1 604 428 7050
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.
All figures are in Canadian dollars unless otherwise noted.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking information” within the meaning of applicable Canadian securities laws. 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. Forward-looking information in this press release includes, but is not limited to statements with respect to trading on the FSE and that being listed and/or quoted for trading on the three mentioned Exchanges provides broader access for investors and may also provide additional liquidity for the Company’s shareholders. Actual results relating to, among other things, the Corporation’s deployment of capital, business prospects, strategies, regulatory developments, future commodity prices, exchange rates, satisfactory arrangements for the payment of legal expenses, the ability of the Company to find suitable exploration projects, results of exploration, project development, reclamation and capital costs of Montero’s mineral properties, and financial condition and prospects, all of which 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.
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