TORONTO, ONTARIO--(Marketwire - Dec. 20, 2012) - Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") would like to report that Euro Pacific Canada Inc. has initiated analyst coverage on Montero Mining and Exploration Ltd.

The full research report can be obtained directly from Luisa Moreno at Euro Pacific Canada Inc.

About Montero Mining & Exploration Ltd.

Montero Mining and Exploration Ltd. is a mineral exploration and development company focused on achieving production of fine rare earth chemicals and metals primarily from at its flagship Wigu Hill project in Tanzania and the establishment of a rare earth refinery. With China's control over export quotas, it is becoming imperative that the rest of the world develops new rare earth resources to meet the increasing demand from "green" technology and high-tech applications. Montero has a highly experienced Board and Management team that has built and operated mines and refineries which brings significant credibility to our strategy of becoming a rare earth chemical producer. In addition to rare earths, Montero has phosphate assets in South Africa and uranium assets in Tanzania and Quebec, Canada for sale or joint venture.

Signed. Dr. Tony Harwood - President and CEO

CAUTIONARY STATEMENT: This News Release includes certain "forward-looking statements". This News Release includes certain "forward-looking statements". These statements are based on information currently available to Montero and Montero provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that Montero's future plans, objectives or goals, including words to the effect that Montero or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of Montero's mineral properties, and Montero's financial condition and prospects, 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 readers should not place undue reliance on Montero's forward-looking statements. Montero does not undertake to update any forward-looking statement that may be made from time to time by Montero or on its behalf, except in accordance with applicable securities laws.