Montero Receives Final Instalment of US$7 million from Tanzania

TORONTO, March 04, 2025 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) is pleased to confirm that US$7,000,000 in cash (the “Final Instalment”) have been received by the Company from the United Republic of Tanzania (“Tanzania”). This payment represents the final instalment of the US$27,000,000 settlement between the Company and Tanzania and is expected to put an end to the dispute in connection with Tanzania’s expropriation of Montero’s Wigu Hill rare earth element project before the International Centre for Settlement of Investments Disputes (“ICSID”).