Montero Mining and Exploration Ltd Common Shares Listed on TSX Venture Exchange

TORONTO, ONTARIO--(Marketwire - Feb. 15, 2011) - Further to its press release dated February 10, 2011, announcing the completion of its initial public offering, Montero Mining and Exploration Ltd (TSX VENTURE:MON) (Montero) is pleased to announce that its common shares have been listed on the TSX Venture Exchange, and will begin trading under the symbol MON on Tuesday, February 15, 2011.

Montero has initiated a 2,500m diamond drill program at the Wigu Hill Rare Earth Element project in Tanzania, on targets defined by mapping and trenching some of which is detailed below.

To view the maps, please visit the following link: http://media3.marketwire.com/docs/mon215fig.pdf

Michael J. Evans, Montero's consulting geologist, who is qualified person as defined by NI43-101, has reviewed the technical information presented in this press release.

Montero has also initiated a 1,450m reverse circulation drill program at the Dyker Eland and Phillips phosphate projects in South Africa, as part of its ongoing due diligence on the properties.

Tony Harwood, President and Chief Executive Officer of Montero, said, "We are looking forward to receiving results from the drilling programmes as we actively explore the Wigu Hill Rare Earth Element project and the two phosphate projects."