Montero Grants Stock Options

Montero Mining and Exploration Ltd. (TSX VENTURE:MON) ("Montero") reports that
on April 30th, 2013, subject to acceptance of the TSX Venture Exchange,
incentive stock options were granted to directors, officers, employees and
consultants to the company. A total of 1,805,000 stock options were granted,
exercisable at a price of $0.125 per share for a period of 5 years from the date
of grant. The options were approved by the Board on April 30th, 2013 and are
subject to normal vesting under the Company's stock option plan. 


About Montero Mining & Exploration

Montero Mining and Exploration Ltd. is a mineral exploration and development
company focused on achieving production of rare earths primarily from its
flagship Wigu Hill project in Tanzania. With China's control over rare earth
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 in Africa, which brings
significant credibility to our strategy of becoming a rare earth 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 with
respect to 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Montero Mining and Exploration Ltd.
[phone]
[phone] (FAX)
[e-mail]
www.monteromining.com