Montero Mining and Exploration Ltd. is pleased to announce an update on the mineral tenure of its 100%-owned Avispa Copper-Molybdenum Project in northern Chile, following a program of concession applications and consolidation during 2026.
Location of the Avispa Copper-Molybdenum Project within the Palaeocene–Eocene copper-molybdenum belt of northern Chile, showing major mines and surrounding exploration properties. Image Credit: Montero Mining and Exploration Ltd.
The Company’s Avispa Project comprises the Avispa and Abeja concession groups, which together contain 81 mineral concessions and applications, including 50 exploitation and 31 exploration concessions or applications.
During 2026, Montero rationalized its Avispa concession holdings, reducing the area by approximately 1,350 hectares while advancing 33 concessions through the exploitation concession application process and retaining one exploration concession.
At Abeja, the Company increased its concession portfolio from 34 to 47 concessions, expanding the area from approximately 9,600 hectares to 13,090 hectares. The Abeja portfolio now comprises 17 exploitation concessions or applications and 30 exploration concessions or applications. These changes consolidate Montero's mineral tenure over areas considered prospective for porphyry copper-molybdenum mineralization.
Dr. Tony Harwood, President and CEO of Montero, commented: “We have strengthened our Avispa land position through concession consolidation and expansion of the Abeja holdings. Located in one of Chile’s major copper belts, Avispa offers attractive potential for concealed copper-molybdenum porphyry deposits, supported by encouraging geology, geochemistry and historical exploration.”
Exploration Rationale
Avispa is located within Chile's Paleocene–Eocene copper-molybdenum porphyry belt, where much of the prospective geology is concealed beneath younger sedimentary cover. Historical exploration, together with Montero's detailed geological mapping, surface geochemical sampling and reconnaissance sampling of historical drill-chip material, has identified prospective intrusive rocks, alteration, and anomalous copper-molybdenum geochemistry.
These results support Montero's exploration model for concealed porphyry copper-molybdenum systems. The Company intends to integrate its geological and geochemical results with historical exploration information and geophysical datasets to identify and prioritize targets for future drilling.
Qualified Person
The scientific and technical information contained in this press release has been reviewed and approved by Mr. Marcial Vergara, B.Sc. an independent consulting geologist and Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Vergara is independent of the Company.