Montero Completes Geological Logging of 625.25-Metre Drillhole at Elvira and Reports Pyrite-Bearing High-Sulphidation Alteration

No assay results yet—only technical drill data and pending lab tests from Chile.

Risk flags

• ●The absence of assay results means there is no evidence of economic mineralisation in MON-ELV-02, so any implied value is entirely speculative until laboratory data is disclosed.
• ●Operational risk is present, as the company is still reliant on external laboratory turnaround times and subsequent data integration before any resource or economic conclusions can be drawn.
• ●Disclosure risk is elevated due to the lack of financial data, resource estimates, or clear timelines for next steps, which limits investor ability to assess near-term or long-term value.

Bottom line

This update from Montero Mining and Exploration Ltd. is purely technical, reporting only the completion and geological logging of a single drillhole at the Elvira Gold Project in Chile. No assay results, grades, or resource estimates are available, so there is no evidence of new value or economic mineralisation. The company's narrative is measured and avoids hype, but without assay data, investors have no basis to assess the project's potential or the company's financial trajectory. Until laboratory results are released and quantified, this announcement is not actionable for investment purposes. The single most important takeaway is that all claims of mineralisation remain unverified and the project's value is still unproven.

Announcement summary

(TSXV: MON) Montero Mining and Exploration Ltd. provided an update on geological logging and sampling of drillhole MON-ELV-02 at the Elvira Gold Project in northern Chile. Drillhole MON-ELV-02 was completed to a final depth of 625.25 metres, testing a high-priority integrated target defined through geological, geochemical, and geophysical interpretation. The hole intersected strongly advanced-argillic-altered lithic tuff from surface to approximately 194.40 metres, followed by feldspar-quartz-amphibole porphyry to the end of the hole, with widespread quartz-alunite-pyrite alteration and pyrite-bearing sulphide mineralisation observed at multiple depths below approximately 253 metres. Assay results are pending and will be reported once received, reviewed, and verified. Historical drillhole EL-12, located adjacent to MON-ELV-02, intersected 4 metres grading 4.9 g/t Au from 264-268 metres, including 1 metre grading 17.85 g/t Au, at a final depth of approximately 281.85 metres. Montero holds a 100% interest in the Avispa copper-molybdenum project and has an option to acquire the Elvira and Potrero gold projects in Chile. The company has 8,453,833 common shares and 735,383 stock options outstanding.

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