Montero Mining and Exploration Ltd V.MON

Montero Comments on Share Price Move

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TORONTO, July 21, 2023 (GLOBE NEWSWIRE) -- Montero Mining and Exploration Ltd. (TSX-V: MON) (“Montero” or the “Company”) provides the following update on the move in Montero’s share price. Montero has a fully funded arbitration case underway for the expropriation of its Wigu Hill rare earth element project against the United Republic of Tanzania (“Tanzania”). The hearing on the merits in Montero’s arbitration proceedings will be held in December of 2023 in Washington DC. On July 14, 2023, ASX-listed Indiana Resources Ltd (ASX:IDA) (“Indiana”) announced it has been awarded US$ 109.5 million in its International Centre for Settlement of Investments Disputes (“ICSID”) arbitration case against Tanzania in addition to an order for Tanzania to repay US$ 3,859,161 in legal costs and expenses. Indiana’s arbitration proceedings were concluded in early February of 2023.

Montero Comments on Share Price Move (globenewswire.com)