Objective Capital's Rare Earths, Speciality & Strategic Metals Investment Summit 2011 Ironmongers' Hall, City of London 17 March 2011 Speaker: Tony Harwood, Montero Mining

1. RARE EARTHS, SPECIALITY
& STRATEGIC METALS
INVESTMENT SUMMIT
Developing Tanzania’s rare earths
Tony Harwood – CEO, Montero Mining
IRONMONGERS’ HALL, CITY OF LONDON ● THURSDAY, 17 MAR 2011
www.ObjectiveCapitalConferences.com

2. Focus on exploration for
Rare Earth Elements
and associated minerals
March 2011

3. Disclaimer
This presentation contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other than
statements of historical fact, that address events or developments that Montero expects to occur, are forward-looking statements.
Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”,
“anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”,
“could” or “should” occur. Although Montero’s forward-looking statements are based on the reasonable beliefs, expectations, opinions and
assumptions of Montero’s management, such statements are inherently uncertain and provide no guarantees of future performance. Actual results
may differ materially from Montero’s expectations as reflected in such forward-looking statements as a result of various factors, many of which are
beyond the control of Montero. Such factors include, but are not limited to, market prices, exploitation and exploration success, continued availability
of capital and financing and general economic, market or business conditions. Except as required by law, Montero does not assume any obligation to
update these forward looking statements, and investors should not attribute undue certainty to, or place undue reliance on, such forward-looking
statements. Please consult Montero’s public filings at www.sedar.com for more detailed information concerning these matters.
The information in this presentation is intended for use only by persons resident in jurisdictions where such use is lawful. Nothing in this presentation
constitutes, and under no circumstances is to be construed as, an offer or solicitation to purchase securities of, or advertisement for, securities of
Montero. The securities of Montero have not been registered under the United States Securities Act of 1933, as amended, or any state securities
laws.
The information in this presentation is provided “as is” and without warranty of any kind. Although it is believed to be accurate at the time it is
presented, Montero disclaims all liability for any failure to update it. This presentation could include inaccuracies, typographical errors, or out-of-date
information, and changes to it may be made at any time without prior notice. You are therefore advised to use the information contained in this
presentation at your own risk.
The technical information contained in this presentation has been reviewed by Mr. Mike Evans, M.Sc. Pr.Sci.Nat., who is a qualified person for the
purpose of National Instrument 43-101 and a consulting geologist to Montero.
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4. Company Background
 Management active in African mining sector for over 26 years
• ex-Placer Dome and Phelps Dodge team
 Montero Mining and Exploration Ltd. established in 2007
• listed on the TSX-V (MON) February 2011
• focused on rare earth elements
 Wigu Hill - flagship REE project in Tanzania
• project identified in 2007, JV agreement secured in 2008
• 60% shareholding and opportunity to obtain 100%
• high grade and high tonnage potential first identified in 1950s
• mining development friendly country
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5. China Dominates REE Production
 China controls > 97% of global REE supply
 Bayan Obo mine, China: world’s largest
REE resource (bastnasite mineralisation)
 Chinese impose 30% export tariff to attract
end user manufacturers to China
 Chinese REE industry consolidation
 Chinese delay export of rare earths to Japan in
August 2010, Japanese respond swiftly to tie
up existing supply outside of China
Source: http://pubs.usgs.gov/fs/2002/fs087-02/
 China unofficially temporarily suspends
shipments of rare earths to Japan (September
and October 2010)
 China declares ‘heavy’ rare earths resources
are finite (approximately 15 years)
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6. REO Price Increases In 2010
Rare Earth Oxides - Prices over 8 month period
$80.00
$70.00 $73.50
$71.00
$60.00
$50.00
$40.00
$40.50
$30.00
$26.75 $34.50
$37.00
$20.00
$25.75
$10.00
$-
m
$5.55
iu
m
m
dy
iu
eo
$4.50
m
N
dy
m
nu
Oct '10
eo
$4.15
ha
as
m
nt
July '10
Pr
iu
La
ar
May '10
m
m
Sa
iu
er
Feb '10
C
Source: Metal-Pages.com. Prices are indicated and basis FOB China and average between high/low. All Light and Heavy Rare Earths - 99% min
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7. Wigu Hill Project – Overview
 Ownership
• 60% ownership with option to increase to 100% with Tanzanian JV partner
 World-class deposit
• large carbonatite complex (6.4km x 3.2km) intruded by sheeted high grade
bastnasite bearing dykes
• first identified in 1957, sampled by junior mining companies, the UN, bilateral
institutions and the Tanzania and German geological surveys
• historic grades of 12.7% to 16.5% TREO
• high grade identified by Montero 26.2% TREO
 Development potential
• 170km south west of major port of Dar es Salaam
• 12km to rail siding of the Tazara rail linking Zambia and Dar es Salaam
• good infrastructure, water, transport (road, rail & port) and mining support
• unweathered mineralisation, large tonnage open pit potential on a hill
 Mining friendly country
• good mining law with major mining companies operating
• mining friendly jurisdiction should allow rapid permitting
• objective to be a low-operating cost producer
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8. Flagship REE Property
 Wigu Hill, Tanzania
• large carbonatite complex
• bastnasite-rich REE mineralisation in sheeted dykes
• historic sample grades of 12.7% to 16.3% TREO with average of 14.5%
TREO from trenching and grab samples (1957)
• 2010 Montero sample grades of up to 26.2% TREO from grab samples
• Phosphate potential
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9. Wigu Hill Project Location
Uranium
license
Wigu Hill
licences
–142km²
Dar es
Salaam
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10. Wigu Hill – Drill Targets
Tembo drill target
Twiga drill target
N
 2009/2010 mapping and sampling program defined 10 drill target areas
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11. Wigu Hill – Location of Drill Targets
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12. Tembo Drill Target: Geology and Sampling
 Tembo drill target - detailed
mapping, trenching and channel-
N
sampling completed:
• 350m x 450m area exposed
• detailed geology mapping
• 39 channels cut across
mineralized zone using portable
rock saws
• continuous samples taken along
channels at ~0.5-1m intervals
(constrained by lithology)
• >700 samples assayed
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13. Wigu Hill – Twiga Geology
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14. Wigu Hill – Twiga Drill Section
These sections give an indication of the attitude of the carbonatite dykes and
the proposed drilling mainly at an angle of 50 degrees.
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15. Wigu Hill - Drilling
Current diamond drilling at Wigu Hill
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16. Wigu Hill –BH TW0001 Core
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17. Wigu Hill – BH TW0001 Bastnasite-Rich
Intersection
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18. Wigu Hill Mineralogy
 Simple REE mineralogy predominantly:
Bastnasite Synchisite
LREE* (CO3) F Ca LREE* (CO3)2 F
Density: 4.7 to 5.0 Density: 3.9 to 4.0
Hardness: 4 to 4.5 Hardness: 4 to 4.5
 Occur as course crystalline aggregates intergrown with barite,
strontianite and Fe-dolomite; REE, Ba, Sr minerals replace earlier
minerals
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19. Carbonatite Dykes
The carbonatite dykes consist of finely to coarse crystalline dolomite with minor
amounts of iron as hematite and goethite and a complex intergrowth of
Burbankite crystals.
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20. Hexagonal Burbankite
Hexagonal burbankite hosts abundant bastnasite and
related rare earth minerals, plus barite strontianite, quartz and dolomite.
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21. Wigu Hill: Photograph of Mineralization
Bastnasite and synchisite (white)
Mg-Fe carbonate (dark brown)
2
0
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22. Wigu Hill - A High Grade Undeveloped REE Deposit
Grade Size
Deposit
(% RE2O3) (tonnes RE2O3)
Mount Weld 11.2% 1,700,000
Mountain Pass 8.9% 1,800,000
Wigu Hill 7.44%* To be determined
Bayan Obo 6% 48,000,000
Mrima Hill 5% 300,000
Nolan’s Bore 4% 400,000
* Average of regional grab samples at Wigu Hill compared to other deposits
Source of deposit data: SB Castor & JB Hedrick
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23. Uranium Exploration Properties in Quebec,
Canada – 100% Ownership
Lac Yvonne Project
• mapping/sampling/radiometric survey
• 6 Short drill holes in 1957
• 0.08% U3O8 and 3 g/t gold over 4 feet
• 0.30% U3O8 and 3 g/t gold over 4 feet
Girard Claims Project
• ground radiometric survey
• outcrop rock chip sampling
• channel sampling of zones >100ppm U
• Ridge anomaly
• >100ppm U over 600 x 40m drill target
defined
• LDZ anomaly
• >100ppm U over 300 x 200m drill target
defined
• North Beraud Lake anomaly
• anomalous area covers 1600 x 250m
• infill sampling program - 2010 ongoing
 NI 43-101 report completed – SRK Consulting
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24. Phosphate Project Locations
 Duyker Eiland, Phillips Kraal and
Lamberts Bay projects:
• 150 to 200km north of Cape Town Lamberts Bay Project
• 10 - 70km from Saldanha Bay
deep-water harbor, Western Cape
• close to Western Cape agricultural
nodes (wheat, wine)
 Bierkraal Project:
• 120km west of Johannesburg,
within the Rustenburg platinum Bierkraal Project
mining node
• 20km from Omnia’s phosphate
chemical production complex Duyker Eiland and Phillips Kraal Projects
situated at Phokeng, North West
Province
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25.  Option agreement to acquire 74% interest to develop 4 phosphate
deposits in South Africa:
• 4 prospecting licenses - approximate size 14,600ha
• Current drilling on Duyker Eiland and Phillips Kraal
• historical resource base of approximately 90Mt
• all open pit resources with historical mining
• located within 10 - 70km from export port and/or fertilizer producer
with infrastructure (road, rail, power, water)
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26. Use of Proceeds - 2011
 Wigu Hill exploration program objectives:
• 2,500m diamond drill program to delineate a NI43-101 resource on
Twiga and Tembo Targets to 100m depth
• mineralogical and metallurgical test work
• map and channel sample 2-3 additional targets
• Phase I - $1.17million to be completed by mid 2011 and
Phase II to continue to end 2012
 Phosphate and Uranium exploration program objectives:
• 1,400m RC drill program to delineate a NI43-101 resource
• mineralogical and metallurgical test work of phosphates
• Regional exploration for further projects
• proposed $ 0.5million exploration expenditure
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27. Capital Structure
Shares
as at March 02, 2011
(million)
Shares issued* 42.3
Stock options 3.7
Warrants 7.1
Total – fully diluted 53.1
Director and officers 15.49%
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28. Management and Directors
Dr. Tony Harwood – President and Chief Executive Officer – Director
Tony Harwood is an economic geologist with 30 years of exploration & mining experience and graduated from University of Wales, College
Cardiff, with a B.Sc. (Honours) degree and Ph.D. in Economic Geology. He was appointed President and CEO of Montero Mining &
Exploration in June, 2009. Prior to joining Montero, Tony held the position of President and CEO of Africo Resources Ltd., a Canadian
company engaged in exploring, acquiring and developing base metal and gold assets in Africa. From 1998 to 2006 Tony served as Vice
President of Global Generative Exploration and Africa-Eurasia Exploration at Placer Dome Inc., a major Canadian gold mining company. Tony
is a non-executive director of Adamus Resources (ASX/TSX: ADU) and Auryx Gold Corp. (TSX: AYX).
Toni Chapman – Chief Financial Officer - Director
Toni Chapman has 20 years financial and administration financial experience in Africa for South African and Canadian companies and has a
Management Advanced program diploma from the University of Witwatersrand, South Africa. She is currently CFO - Oryx Mining and
Exploration Ltd., and other professional edits include the former CFO - Tri Origin Exploration Ltd., a consultant to Placer Dome, South Africa
and former Business Administrator Director for Bastillion Group of Companies.
Greg Hall – Non-executive Director
Greg Hall is a seasoned geologist with over 35 years of international experience. His past credits include former Chief Geologist - Placer Dome
Group. Greg had a senior role in the discoveries of both Barrick Gold's Granny Smith mine and Rio Tinto's Yandi iron ore mine. In addition, he
took part in the discoveries of Keringal and Wallaby in Australia's Eastern Goldfields, as well as the definition of AngloGold Ashanti's Sunrise
gold mine. Greg holds a Bachelor of Applied Science from the University of New South Wales, Australia.
John Dixon – Non-executive Director
John Dixon obtained a B.Sc and B.Sc Honours in Geology and Applied Geology from the University of Natal (Durban) and a Ph.D from the
University of Kwazulu Natal, South Africa. John became a director of Montero Mining & Exploration in February 2007. Since 2006, he has held
the position of President of Oryx Mining and Exploration Limited, a private junior exploration company engaged in the exploration and
development of gold and base metal assets in East Africa. Between 1996 and 2006, John worked as an independent geologist with Bastillion
Resources (Pty) Ltd., a South African geological and mining consulting company.
Andrew Thomson– Non-executive Director
Andrew Thomson has 15 years of experience in mineral exploration in Central America and is an entrepreneur who has actively explored in
Mexico and Honduras and Panama since 1993. His past credits include former President of Link Mineral Ventures Ltd. and Azul Resources
(Bermuda) Ltd and he is currently President and CEO for Soltoro Ltd. (TSX.V: SOL), a junior mining and exploration company focused on
expanding a primary silver resource at its property in Mexico. Andrew is a non-executive Director for Gossan Resources Ltd. (TSX.V: GSS).
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29. Thank you
Montero Mining & Exploration Ltd.
Registered and Records Office:
1900-1040 West Georgia Street
Vancouver, B.C. V6E 4H3
www.monteromining .com
Dr Tony Harwood
tharwood@monteromining.com
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