Montero Awards Stock Options

Toronto, Ontario--(Newsfile Corp. - October 23, 2025) - Montero Mining and Exploration Ltd. (TSXV: MON) ("Montero" or the "Company") has granted 93,716 stock options (the "Options") to the members of its Board of Directors, management, and consultants pursuant to the Company's incentive Stock Option Plan. The Options have an exercise price of $0.45 and have a five-year term. The award of Options is subject to regulatory approval.

Dr. Tony Harwood, President and CEO of Montero, commented: "I would like to thank the directors, management, and consultants for their unwavering assistance and support over the past years."

About Montero
Montero Mining and Exploration Ltd. is a Canadian exploration company focused on the discovery and development of precious and critical mineral projects in Chile.

The Company recently concluded a US$27 million settlement with the Government of Tanzania, resolving 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 holds 100% interest in the Avispa copper-molybdenum project in northern Chile and has an option to acquire the Elvira and Portero god 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.

Montero (TSXV: MON) is listed on the TSX Venture Exchange and currently has 8,353,833 Common Shares and 741,667 stock options outstanding.

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. 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". Forward-looking information in this press release includes statements with respect to the Projects, the receipt of TSXV approval, the projects providing the potential for major new discoveries that gold Majors are actively seeking, the exploration potential of the Projects and the exploration plan of the Projects. 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. 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: 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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