Montero Channel Sampling Returns 14 Metres of 1.93% Lithium Oxide at the Soris Lithium Project in Namibia

TORONTO, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V:MON) has completed an initial channel sampling program at the Soris Lithium Project in central Namibia which returned an average lithium grade of 0.76% Li₂O with values up to 3.66% Li₂O from all channel samples. The best result from channel sampling returned 14 metres of 1.93% Li₂O. The channel sampling program was designed to test lithium bearing spodumene mineralization in a number of pegmatites on the property where prior operators mined for tantalum and tin and did not test the lithium potential of the property.

On October 24, 2017, Montero entered into an agreement and is currently in a legal and technical due diligence period whereby Montero may at any time elect to acquire an 80% interest in the Property by committing to spending C$1 million and completing a feasibility study within 3 years of transfer of the mining rights to Montero. Montero is awaiting mineralogical sample analysis and lithium assay results of RC chips from a prior drill program before electing to acquire an 80% interest.

A total of 4 channel sample traverses were collected as representative sections of the pegmatite mineralization along approximately a 2.4 km strike length. Channel samples were taken every 1 metre across the exposed and accessible portions of the pegmatite with a total of 53 samples submitted for full chemical analysis to SGS Laboratories in Johannesburg, South Africa.

Channel sample results returned lithium values up to 3.66% Li₂O, tantalum values up to 1,917ppm Ta₂O₅ and tin values up to 12,696ppm SnO₂. The samples within the selected channels are representative of those channels but may not necessarily be representative of the overall mineralization hosted in the pegmatites on the property. Spodumene has been identified as the major lithium bearing mineral. Results from channel sampling were returned as follows:

RESULTS OF THE CHANNEL SAMPLING PROGRAM
Channel	Width in	Lithium a	Tantalum b	Tin c
Location	Metres	Li2O %	Ta2O5 ppm	SnO2 ppm
NC1	16	0.68	112	3812
CC1	5	0.13	120	1405
MC1	14	1.93	155	689
SC1	6	0.03	793	401
a. Li2O obtained by conversion factor of 2.153
b. Ta2O5 obtained by conversion factor of 1.2211
c. SnO2 obtained by conversion factor of 1.2696

Dr. Tony Harwood, President and Chief Executive Officer of Montero commented, “Montero’s first channel sampling program has confirmed lithium, tantalum and tin mineralization over a 2.4 km strike length of exposed pegmatite. Channel MC1 returned 14m at an average grade of 1.93% Li₂O where the best individual sample assayed 3.66% Li₂O. Montero’s primary interest at Soris is to test the lithium content of the spodumene bearing pegmatites to establish a lithium resource. Prior operators never tested for lithium. Initial Lithium assay results from prior operator RC drill holes are expected shortly which will provide Montero an understanding of the lithium potential in a third dimension. These, along with mineralogical test results designed to understand metallurgy, will enable Montero to decide whether to proceed with trying to define a lithium resource.”