{"success":true,"data":{"pressRelease":{"id":"45483","rtpr_id":"nNFC5byn3","ticker":"MON","exchange":"","all_tickers":["MON"],"title":"Montero Defines Initial First-Pass Drill Program at the Elvira Gold Project, Chile","author":"Newsfile Corp","published_at":"2026-05-26T15:45:21.152Z","article_body":"Toronto, Ontario--(Newsfile Corp. - May 26, 2026) - Montero Mining and\nExploration Ltd. (TSXV: MON) (OTC Pink: MXTRF) (FSE: ES0) (\"Montero\" or the\n\"Company\") is pleased to announce that it has finalized the initial first-pass\ndrill program at its Elvira Gold Project in Chile (see Figure 1).\n\n(https://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_001full.jpg)\n\nFigure 1: Elvira Project location and geological setting. Left: regional\nlocation map showing Elvira within the Maricunga Belt of northern Chile.\nRight: Elvira concession boundary and simplified geological map showing the\nproject-scale structural and lithological framework.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_001full.jpg\n\n*Adjacent property Mineral Resource and Mineral Reserve estimates shown in\nFigure 1, including those for Salares Norte, Fenix Gold, La Coipa and\nLobo-Marte, are derived from publicly available disclosures prepared by the\nrespective owners in accordance with applicable securities regulations,\nincluding: Gold Fields Limited, Salares Norte Technical Report Summary\n(effective 31 December 2024); Rio2 Limited, NI 43-101 Feasibility Study\nTechnical Report for the Fenix Gold Project (effective 16 October 2023); and\nKinross Gold Corporation, La Coipa and Lobo-Marte Mines Mineral Reserve and\nResource Statement as at 31 December 2024, prepared in accordance with CIM\nDefinition Standards. Such information is not necessarily indicative of\nmineralization on the Company's Elvira project.\n\nThe initial program has been designed following completion of an integrated\nreview of Montero's geological, geochemical and geophysical datasets,\nsupported by reinterpretation of previous drilling and public-domain\nhistorical information. The work defines Elvira as a large, vertically zoned\nhydrothermal system interpreted to comprise a preserved high-sulphidation\nepithermal gold system overlying and flanking a deeper porphyry Cu-Au system.\nThis interpretation is consistent with public-domain disclosure by BuenaVista\nGold Ltd. (2015), which reported mixed drilling results including gold,\ncopper, silver and zinc intervals and suggested broader metal zoning at\nElvira, together with Montero's March 2, 2026, news release, which described a\nlarge high-sulphidation hydrothermal system with widespread quartz-alunite\nalteration, vuggy silica and hydrothermal breccias across the central project\narea.\n\nThe first-pass drill program is designed to test the highest-priority\nintegrated targets where geology, alteration, geophysics and geochemical\nvectors converge. Initial drilling will focus on:\n* A core chargeability / porphyry Cu target.\n* The EL-12 feeder continuity / northern upflow target.\n* A southern epithermal cap-to-porphyry link target.\n* A principal resistivity-hosted high-sulphidation target.\nMontero's internal targeting work has ranked these holes as the\nhighest-confidence first-pass tests of the Elvira system. The initial program\nwill test both the upper gold-bearing feeder architecture and the deeper\nsulphide-rich porphyry vector.\n\nDr. Tony Harwood, President and Chief Executive Officer of Montero, commented:\n\"Montero's work at Elvira has materially improved our understanding and\nhighlighted the scale of the mineral system. The drill program is designed to\ntest the highest-priority targets within Montero's interpreted\nepithermal-to-porphyry framework.\"\n\nInitial First-Pass Drill Holes\nThe current first-pass program is expected to include four initial drill holes\nfor approximately 2,025 metres, with subsequent holes in the program\nprioritised based on the geological, alteration, mineralisation and\ngeophysical information obtained from the initial drill holes, together with\nongoing operational assessment as drilling progresses (see Figure 2).\n\n(https://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_002full.jpg)\n\nFigure 2: Phase 1 drill hole plan map showing the locations of planned drill\nholes MON-ELV-01 to MON-ELV-04, selected historical drill holes, and Montero's\nintegrated geological, geochemical, and geophysical interpretation.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_002full.jpg\n\nThe initial drill holes are designed to test the following target concepts:\n\nMON-ELV-01 - Core Chargeability / Porphyry Cu Target\nThis hole is designed to test the central part of the >22.5 mV/V chargeability\nanomaly at depth.\n\nThe target is supported by nearby historical drilling and by Montero's current\ngeophysical interpretation and is interpreted by Montero to represent one of\nthe strongest porphyry Cu-Au vectors in the current survey area. The hole will\nalso assess whether historical hole EL-12 marks the upper part of the broader\nhydrothermal system in this area.\n\nThe hole is designed to test the deeper part of the chargeability anomaly\nbeneath the northern part of the drilled area.\n\nMON-ELV-02 - EL-09 / ELRC-16 / ELRC-22 Cu Trend Target\nThis hole is designed to test a broad copper-bearing vector supported by\nhistorical drilling in the EL-09, ELRC-16 and ELRC-22 area and associated with\na shallow-to-deep chargeability trend.\n\nMontero interprets this target as a porphyry-style sulphide system developed\ncloser to surface than previously modelled.\n\nMON-ELV-03 - Resistive High-Sulphidation Feeder Target\nThis hole is designed to test the most intense part of a vertically extensive\n>200 ohm·m resistivity anomaly interpreted as a silicified feeder zone. A\nsecondary objective is to test the interface between the resistive body and\nthe underlying >9.8 mV/V chargeability depression, where increasing sulphide\ncontent and possible metal association may occur.\n\nThe MON-ELV-03 motivation form interprets this target as a silicified,\nsheeted-vein feeder zone developed above a deeper sulphide-bearing interface.\nUnits. This interpretation is also consistent with Montero's March 2, 2026,\npublic disclosure, which described widespread quartz-alunite alteration, vuggy\nsilica and hydrothermal breccias across the central project area.\n\nMON-ELV-04 - Resistive Lobe / HS Au Target\nThis hole is designed to test a discrete resistive target associated with\ninterpreted silica-rich high-sulphidation alteration beneath the southern\nepithermal gold target area. A secondary objective is to assess whether the\nresistive alteration zone vectors toward deeper porphyry-related sulphide\nmineralisation.\n\nFurther holes in the program will be prioritised based on the geological,\nalteration, mineralisation and geophysical information obtained from the\ninitial drill holes, together with ongoing operational assessment as drilling\nprogresses.\n\nOngoing Technical Assessment During Drilling\nAs drilling progresses, Montero will compare the actual geology, alteration\nand mineralisation observed in drill core against the current target model for\neach hole. This ongoing assessment may influence the sequencing and\nprioritisation of subsequent holes within the first-pass program.\n\nAll drill core will be logged on site by the Company's technical team. The\nCompany expects the Phase 1 holes to be drilled initially in HQ core size,\nwith reduction to NQ where appropriate depending on depth and drilling\nconditions. In addition, portable XRF analysis will be used on site to provide\nrapid indicative geochemical information and assist with real-time assessment\nof metal associations and alteration trends. These observations will be\nintegrated with geological logging and laboratory assay data as the program\nadvances.\n\nProgram Rationale\nThe drill program is based on Montero's integrated interpretation (see Figure\n3) that:\n* Historical drilling intersected gold-, silver-, copper- and zinc-bearing\ncomponents of the Elvira system, while public-domain mapping and Montero's\nMarch 2, 2026, disclosure indicate a large high-sulphidation hydrothermal\nsystem with widespread quartz-alunite alteration, vuggy silica and\nhydrothermal breccias.\n* Chargeability strengthens with depth beneath known anomalous Cu-bearing\nholes.\n* Resistive lobes and mapped high-sulphidation alteration patterns help define\nfeeder architecture; and\n* The strongest first-pass holes should test both the shallow gold-bearing\narchitecture and the deeper sulphide-rich porphyry vector.\n(https://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_003full.jpg)\n\nFigure 3: Conceptual 3-D schematic of the Elvira system showing interpreted\nresistivity, chargeability corridor, and magnetic anomaly. Montero interprets\nthese features as representing a high-sulphidation epithermal gold system,\nfeeder / transition zones, and a deeper chargeability-supported porphyry Cu-Au\ntarget. The positions of Phase 1 drill holes MON-ELV-01 to MON-ELV-04 are\nshown.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_003full.jpg\n\nHistorical Context\nHistorical BuenaVista Gold Ltd. (2015) disclosure stated that 5,711 m of\ndrilling had been completed at Elvira in two campaigns and reported, among\nother intervals, 39 m @ 0.66 g/t Au in DD12, 114 m @ 0.14% Cu in RC16, 30 m @\n42 g/t Ag in RC18, 88 m @ 0.34% Zn in RC21 and 128 m @ 0.23% Zn in RC20. That\ndisclosure also noted that the widespread base-metal and silver zoning may\nindicate a mineralised halo peripheral to a concealed target.\n\nMontero's March 2, 2026, public disclosure stated that detailed mapping\nconfirms Elvira hosts a large high-sulphidation hydrothermal system developed\nover volcanic-sedimentary basement rocks intruded by dacitic and andesitic\nbodies, with widespread quartz-alunite alteration, vuggy silica and\nhydrothermal breccias across the central project area.\n\nHistorical drill results and geological observations referenced in this\nrelease are derived from public-domain disclosures by BuenaVista Gold Ltd.\ndated March 1, 2016, and Montero's news release dated March 2, 2026. Montero\nhas not independently verified all historical drilling data and cautions that\nsuch results may not be directly comparable to current reporting standards.\n\nQualified Person\nThe scientific and technical information contained in this press release has\nbeen reviewed and approved by Mr. Marcial Vergara, B.Sc., and Mr. Mike Evans,\nM.Sc. Pr.Sci.Nat., each a Qualified Person as defined by National Instrument\n43-101 - Standards of Disclosure for Mineral Projects, and independent\nconsulting geologists to the Company.\n\nAbout Montero\nMontero Mining and Exploration Ltd. is a Canadian exploration company focused\non gold and copper exploration in Chile. Montero holds a 100% interest in the\nAvispa copper-molybdenum project in the Palaeocene Porphyry Cu-Mo Belt of\nnorthern Chile and has an option to acquire the Elvira and Potrero gold\nprojects in the Maricunga Gold Belt. These projects are being advanced through\nongoing exploration activities.\n\nMontero is listed on the TSX Venture Exchange under the symbol MON and has\n8,453,833 Common Shares and 735,383 stock options outstanding.\n\nFor more information, contact:\nMontero Mining and Exploration Ltd.\nDr. Tony Harwood, President, and Chief Executive Officer\n\nE-mail: ir@monteromining.com\nTel: +1 604 428 7050\nwww.monteromining.com\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nCAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release\nincludes certain \"forward-looking information\" within the meaning of\napplicable Canadian securities laws. Forward-looking information in this press\nrelease includes, but is not limited to, statements regarding: the integration\nand interpretation of geological, geochemical and geophysical data; the\napplication of artificial intelligence and machine learning tools; the\nidentification, evaluation or prioritization of areas for further exploration;\nthe potential for mineralization; the use of drill core logging and portable\nXRF as part of on-site technical assessment, and the timing or scope of future\nexploration activities, including any potential drilling. Generally,\nforward-looking information can be identified by the use of forward-looking\nterminology such as \"plans\", \"expects\", \"does not expect\", \"is expected\",\n\"budget\", \"scheduled\", \"estimates\", \"forecasts\", \"intends\", \"anticipates\",\n\"does not anticipate\", or \"believes\", or variations of such words and phrases,\nor statements that certain actions, events or results \"may\", \"could\", \"would\",\n\"might\" or \"will\" occur or be achieved. Such information is based on\ninformation currently available to Montero and on assumptions management\nbelieves are reasonable as of the date of this news release. Forward-looking\ninformation is subject to known and unknown risks, uncertainties and other\nfactors that may cause actual results, level of activity, performance or\nachievements of the Company to be materially different from those expressed or\nimplied by such forward-looking information. These risks and uncertainties\ninclude, but are not limited to: risks related to mineral exploration and\ndevelopment activities; uncertainties inherent in the interpretation of\ngeological and geophysical data; the speculative nature of mineral\nexploration; commodity price fluctuations; changes in general market\nconditions; regulatory approvals and permitting risks; availability of\nfinancing; operational and technical risks; and other risk factors described\nin the Company's public disclosure documents filed on SEDAR+. There can be no\nassurance that such forward-looking information will prove to be accurate, as\nactual results and future events could differ materially from those\nanticipated in such statements. Readers are cautioned not to place undue\nreliance on forward-looking information. Montero does not undertake to update\nany forward-looking information, except in accordance with applicable\nsecurities laws.\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/298872","article_body_html":"","raw_payload":{"data":{"id":"nNFC5byn3","title":"Montero Defines Initial First-Pass Drill Program at the Elvira Gold Project, Chile","author":"Newsfile Corp","ticker":"MON","created":"2026-05-26T15:45:21.152Z","tickers":["MON"],"exchange":"","article_body":"Toronto, Ontario--(Newsfile Corp. - May 26, 2026) - Montero Mining and\nExploration Ltd. (TSXV: MON) (OTC Pink: MXTRF) (FSE: ES0) (\"Montero\" or the\n\"Company\") is pleased to announce that it has finalized the initial first-pass\ndrill program at its Elvira Gold Project in Chile (see Figure 1).\n\n(https://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_001full.jpg)\n\nFigure 1: Elvira Project location and geological setting. Left: regional\nlocation map showing Elvira within the Maricunga Belt of northern Chile.\nRight: Elvira concession boundary and simplified geological map showing the\nproject-scale structural and lithological framework.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_001full.jpg\n\n*Adjacent property Mineral Resource and Mineral Reserve estimates shown in\nFigure 1, including those for Salares Norte, Fenix Gold, La Coipa and\nLobo-Marte, are derived from publicly available disclosures prepared by the\nrespective owners in accordance with applicable securities regulations,\nincluding: Gold Fields Limited, Salares Norte Technical Report Summary\n(effective 31 December 2024); Rio2 Limited, NI 43-101 Feasibility Study\nTechnical Report for the Fenix Gold Project (effective 16 October 2023); and\nKinross Gold Corporation, La Coipa and Lobo-Marte Mines Mineral Reserve and\nResource Statement as at 31 December 2024, prepared in accordance with CIM\nDefinition Standards. Such information is not necessarily indicative of\nmineralization on the Company's Elvira project.\n\nThe initial program has been designed following completion of an integrated\nreview of Montero's geological, geochemical and geophysical datasets,\nsupported by reinterpretation of previous drilling and public-domain\nhistorical information. The work defines Elvira as a large, vertically zoned\nhydrothermal system interpreted to comprise a preserved high-sulphidation\nepithermal gold system overlying and flanking a deeper porphyry Cu-Au system.\nThis interpretation is consistent with public-domain disclosure by BuenaVista\nGold Ltd. (2015), which reported mixed drilling results including gold,\ncopper, silver and zinc intervals and suggested broader metal zoning at\nElvira, together with Montero's March 2, 2026, news release, which described a\nlarge high-sulphidation hydrothermal system with widespread quartz-alunite\nalteration, vuggy silica and hydrothermal breccias across the central project\narea.\n\nThe first-pass drill program is designed to test the highest-priority\nintegrated targets where geology, alteration, geophysics and geochemical\nvectors converge. Initial drilling will focus on:\n* A core chargeability / porphyry Cu target.\n* The EL-12 feeder continuity / northern upflow target.\n* A southern epithermal cap-to-porphyry link target.\n* A principal resistivity-hosted high-sulphidation target.\nMontero's internal targeting work has ranked these holes as the\nhighest-confidence first-pass tests of the Elvira system. The initial program\nwill test both the upper gold-bearing feeder architecture and the deeper\nsulphide-rich porphyry vector.\n\nDr. Tony Harwood, President and Chief Executive Officer of Montero, commented:\n\"Montero's work at Elvira has materially improved our understanding and\nhighlighted the scale of the mineral system. The drill program is designed to\ntest the highest-priority targets within Montero's interpreted\nepithermal-to-porphyry framework.\"\n\nInitial First-Pass Drill Holes\nThe current first-pass program is expected to include four initial drill holes\nfor approximately 2,025 metres, with subsequent holes in the program\nprioritised based on the geological, alteration, mineralisation and\ngeophysical information obtained from the initial drill holes, together with\nongoing operational assessment as drilling progresses (see Figure 2).\n\n(https://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_002full.jpg)\n\nFigure 2: Phase 1 drill hole plan map showing the locations of planned drill\nholes MON-ELV-01 to MON-ELV-04, selected historical drill holes, and Montero's\nintegrated geological, geochemical, and geophysical interpretation.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_002full.jpg\n\nThe initial drill holes are designed to test the following target concepts:\n\nMON-ELV-01 - Core Chargeability / Porphyry Cu Target\nThis hole is designed to test the central part of the >22.5 mV/V chargeability\nanomaly at depth.\n\nThe target is supported by nearby historical drilling and by Montero's current\ngeophysical interpretation and is interpreted by Montero to represent one of\nthe strongest porphyry Cu-Au vectors in the current survey area. The hole will\nalso assess whether historical hole EL-12 marks the upper part of the broader\nhydrothermal system in this area.\n\nThe hole is designed to test the deeper part of the chargeability anomaly\nbeneath the northern part of the drilled area.\n\nMON-ELV-02 - EL-09 / ELRC-16 / ELRC-22 Cu Trend Target\nThis hole is designed to test a broad copper-bearing vector supported by\nhistorical drilling in the EL-09, ELRC-16 and ELRC-22 area and associated with\na shallow-to-deep chargeability trend.\n\nMontero interprets this target as a porphyry-style sulphide system developed\ncloser to surface than previously modelled.\n\nMON-ELV-03 - Resistive High-Sulphidation Feeder Target\nThis hole is designed to test the most intense part of a vertically extensive\n>200 ohm·m resistivity anomaly interpreted as a silicified feeder zone. A\nsecondary objective is to test the interface between the resistive body and\nthe underlying >9.8 mV/V chargeability depression, where increasing sulphide\ncontent and possible metal association may occur.\n\nThe MON-ELV-03 motivation form interprets this target as a silicified,\nsheeted-vein feeder zone developed above a deeper sulphide-bearing interface.\nUnits. This interpretation is also consistent with Montero's March 2, 2026,\npublic disclosure, which described widespread quartz-alunite alteration, vuggy\nsilica and hydrothermal breccias across the central project area.\n\nMON-ELV-04 - Resistive Lobe / HS Au Target\nThis hole is designed to test a discrete resistive target associated with\ninterpreted silica-rich high-sulphidation alteration beneath the southern\nepithermal gold target area. A secondary objective is to assess whether the\nresistive alteration zone vectors toward deeper porphyry-related sulphide\nmineralisation.\n\nFurther holes in the program will be prioritised based on the geological,\nalteration, mineralisation and geophysical information obtained from the\ninitial drill holes, together with ongoing operational assessment as drilling\nprogresses.\n\nOngoing Technical Assessment During Drilling\nAs drilling progresses, Montero will compare the actual geology, alteration\nand mineralisation observed in drill core against the current target model for\neach hole. This ongoing assessment may influence the sequencing and\nprioritisation of subsequent holes within the first-pass program.\n\nAll drill core will be logged on site by the Company's technical team. The\nCompany expects the Phase 1 holes to be drilled initially in HQ core size,\nwith reduction to NQ where appropriate depending on depth and drilling\nconditions. In addition, portable XRF analysis will be used on site to provide\nrapid indicative geochemical information and assist with real-time assessment\nof metal associations and alteration trends. These observations will be\nintegrated with geological logging and laboratory assay data as the program\nadvances.\n\nProgram Rationale\nThe drill program is based on Montero's integrated interpretation (see Figure\n3) that:\n* Historical drilling intersected gold-, silver-, copper- and zinc-bearing\ncomponents of the Elvira system, while public-domain mapping and Montero's\nMarch 2, 2026, disclosure indicate a large high-sulphidation hydrothermal\nsystem with widespread quartz-alunite alteration, vuggy silica and\nhydrothermal breccias.\n* Chargeability strengthens with depth beneath known anomalous Cu-bearing\nholes.\n* Resistive lobes and mapped high-sulphidation alteration patterns help define\nfeeder architecture; and\n* The strongest first-pass holes should test both the shallow gold-bearing\narchitecture and the deeper sulphide-rich porphyry vector.\n(https://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_003full.jpg)\n\nFigure 3: Conceptual 3-D schematic of the Elvira system showing interpreted\nresistivity, chargeability corridor, and magnetic anomaly. Montero interprets\nthese features as representing a high-sulphidation epithermal gold system,\nfeeder / transition zones, and a deeper chargeability-supported porphyry Cu-Au\ntarget. The positions of Phase 1 drill holes MON-ELV-01 to MON-ELV-04 are\nshown.\n\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/11789/298872_94da819e24bb38ce_003full.jpg\n\nHistorical Context\nHistorical BuenaVista Gold Ltd. (2015) disclosure stated that 5,711 m of\ndrilling had been completed at Elvira in two campaigns and reported, among\nother intervals, 39 m @ 0.66 g/t Au in DD12, 114 m @ 0.14% Cu in RC16, 30 m @\n42 g/t Ag in RC18, 88 m @ 0.34% Zn in RC21 and 128 m @ 0.23% Zn in RC20. That\ndisclosure also noted that the widespread base-metal and silver zoning may\nindicate a mineralised halo peripheral to a concealed target.\n\nMontero's March 2, 2026, public disclosure stated that detailed mapping\nconfirms Elvira hosts a large high-sulphidation hydrothermal system developed\nover volcanic-sedimentary basement rocks intruded by dacitic and andesitic\nbodies, with widespread quartz-alunite alteration, vuggy silica and\nhydrothermal breccias across the central project area.\n\nHistorical drill results and geological observations referenced in this\nrelease are derived from public-domain disclosures by BuenaVista Gold Ltd.\ndated March 1, 2016, and Montero's news release dated March 2, 2026. Montero\nhas not independently verified all historical drilling data and cautions that\nsuch results may not be directly comparable to current reporting standards.\n\nQualified Person\nThe scientific and technical information contained in this press release has\nbeen reviewed and approved by Mr. Marcial Vergara, B.Sc., and Mr. Mike Evans,\nM.Sc. Pr.Sci.Nat., each a Qualified Person as defined by National Instrument\n43-101 - Standards of Disclosure for Mineral Projects, and independent\nconsulting geologists to the Company.\n\nAbout Montero\nMontero Mining and Exploration Ltd. is a Canadian exploration company focused\non gold and copper exploration in Chile. Montero holds a 100% interest in the\nAvispa copper-molybdenum project in the Palaeocene Porphyry Cu-Mo Belt of\nnorthern Chile and has an option to acquire the Elvira and Potrero gold\nprojects in the Maricunga Gold Belt. These projects are being advanced through\nongoing exploration activities.\n\nMontero is listed on the TSX Venture Exchange under the symbol MON and has\n8,453,833 Common Shares and 735,383 stock options outstanding.\n\nFor more information, contact:\nMontero Mining and Exploration Ltd.\nDr. Tony Harwood, President, and Chief Executive Officer\n\nE-mail: ir@monteromining.com\nTel: +1 604 428 7050\nwww.monteromining.com\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\nCAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release\nincludes certain \"forward-looking information\" within the meaning of\napplicable Canadian securities laws. Forward-looking information in this press\nrelease includes, but is not limited to, statements regarding: the integration\nand interpretation of geological, geochemical and geophysical data; the\napplication of artificial intelligence and machine learning tools; the\nidentification, evaluation or prioritization of areas for further exploration;\nthe potential for mineralization; the use of drill core logging and portable\nXRF as part of on-site technical assessment, and the timing or scope of future\nexploration activities, including any potential drilling. Generally,\nforward-looking information can be identified by the use of forward-looking\nterminology such as \"plans\", \"expects\", \"does not expect\", \"is expected\",\n\"budget\", \"scheduled\", \"estimates\", \"forecasts\", \"intends\", \"anticipates\",\n\"does not anticipate\", or \"believes\", or variations of such words and phrases,\nor statements that certain actions, events or results \"may\", \"could\", \"would\",\n\"might\" or \"will\" occur or be achieved. Such information is based on\ninformation currently available to Montero and on assumptions management\nbelieves are reasonable as of the date of this news release. Forward-looking\ninformation is subject to known and unknown risks, uncertainties and other\nfactors that may cause actual results, level of activity, performance or\nachievements of the Company to be materially different from those expressed or\nimplied by such forward-looking information. These risks and uncertainties\ninclude, but are not limited to: risks related to mineral exploration and\ndevelopment activities; uncertainties inherent in the interpretation of\ngeological and geophysical data; the speculative nature of mineral\nexploration; commodity price fluctuations; changes in general market\nconditions; regulatory approvals and permitting risks; availability of\nfinancing; operational and technical risks; and other risk factors described\nin the Company's public disclosure documents filed on SEDAR+. There can be no\nassurance that such forward-looking information will prove to be accurate, as\nactual results and future events could differ materially from those\nanticipated in such statements. Readers are cautioned not to place undue\nreliance on forward-looking information. Montero does not undertake to update\nany forward-looking information, except in accordance with applicable\nsecurities laws.\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/298872"},"type":"article","timestamp":"2026-05-26T15:45:21.219949472Z","server_sent_at_ms":1779810321219},"received_at":"2026-05-26T15:45:21.383Z","source_url":"https://www.newsfilecorp.com/release/298872"},"analysis":{"id":"34916","press_release_id":"45483","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":[],"eventType":"operations_update","narrative":"Montero Mining has finalized its initial first-pass drill program at the Elvira Gold Project in Chile, targeting four specific high-priority zones.\n\nThe program consists of four drill holes totaling approximately 2,025 metres, designed to test the epithermal-to-porphyry system architecture including core chargeability and resistivity targets.\n\nThis operational update follows previous geological mapping and geophysical interpretation but does not report any new assay results or resource estimates.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Routine exploration update: Montero begins initial drilling at Elvira; results pending."},"keyFigures":{"customDimensions":{"shares_outstanding":8453833,"drill_holes_planned":4,"options_outstanding":735383,"drill_metres_planned":2025}},"quotedText":"Montero's work at Elvira has materially improved our understanding and highlighted the scale of the mineral system.","namedEntities":{"people":[{"name":"Dr. Tony Harwood","role":"President and Chief Executive Officer"},{"name":"Mr. Marcial Vergara","role":"Qualified Person"},{"name":"Mr. Mike Evans","role":"Qualified Person"}],"products":["Elvira Gold Project","Avispa copper-molybdenum project","Potrero gold project"],"companies":[{"name":"Montero Mining and Exploration Ltd.","ticker":"MON","relationship":"filer"},{"name":"BuenaVista Gold Ltd.","relationship":"historical operator"},{"name":"Gold Fields Limited","relationship":"adjacent property owner"},{"name":"Rio2 Limited","relationship":"adjacent property owner"},{"name":"Kinross Gold Corporation","relationship":"adjacent property owner"}],"dollarAmounts":[]},"materialImpact":{"score":2,"reasoning":"Routine exploration update announcing the start of a small initial drill program (4 holes, ~2,025m) at a pre-resource stage project. No new resource estimates or significant assay results are reported; this is standard early-stage exploration activity for a TSXV junior."},"tickerRelevance":{"others":[{"ticker":"MXTRF","relevance":"OTC ticker for filer"},{"ticker":"ES0","relevance":"Frankfurt ticker for filer"}],"primary":"MON"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"exploration_update","sectorWeight":"commodities","householdBrandBoost":0,"marketCapAdjustment":"low","retailFavoriteBoost":0}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"neutral","material_impact_score":2,"narrative":"Montero Mining has finalized its initial first-pass drill program at the Elvira Gold Project in Chile, targeting four specific high-priority zones.\n\nThe program consists of four drill holes totaling approximately 2,025 metres, designed to test the epithermal-to-porphyry system architecture including core chargeability and resistivity targets.\n\nThis operational update follows previous geological mapping and geophysical interpretation but does not report any new assay results or resource estimates.","key_figures":{"customDimensions":{"shares_outstanding":8453833,"drill_holes_planned":4,"options_outstanding":735383,"drill_metres_planned":2025}},"named_entities":{"people":[{"name":"Dr. Tony Harwood","role":"President and Chief Executive Officer"},{"name":"Mr. Marcial Vergara","role":"Qualified Person"},{"name":"Mr. Mike Evans","role":"Qualified Person"}],"products":["Elvira Gold Project","Avispa copper-molybdenum project","Potrero gold project"],"companies":[{"name":"Montero Mining and Exploration Ltd.","ticker":"MON","relationship":"filer"},{"name":"BuenaVista Gold Ltd.","relationship":"historical operator"},{"name":"Gold Fields Limited","relationship":"adjacent property owner"},{"name":"Rio2 Limited","relationship":"adjacent property owner"},{"name":"Kinross Gold Corporation","relationship":"adjacent property owner"}],"dollarAmounts":[]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-26T15:45:46.867Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"micro-cap","eventGravity":"exploration_update","sectorWeight":"commodities","householdBrandBoost":0,"marketCapAdjustment":"low","retailFavoriteBoost":0}},"durationMs":25467,"modelName":"george-droid-qwen-72b"}}