MON Montero, Jiang Xi Yun sign MOU for Li production in AfriShares Issued 21,880,818 Last Close 9/24/2018 $0.185 Monday September 24 2018 - News Release Dr. Tony Harwood reports MONTERO AND JIANG XI YUN LITHIUM SIGN A MEMORANDUM OF UNDERSTANDING ON COOPERATION AND DEVELOPMENT OF LITHIUM PRODUCTION IN AFRICA Montero Mining and Exploration Ltd. has signed a non-binding memorandum of understanding with the Jiang Xi Yun Lithium Materials Co. Ltd. of China for joint co-operation and development of lithium production in Africa. The co-operation between the parties under this memorandum of understanding may take the following forms: Jiang Xi Yun Lithium will a sign long-term off-take agreement with Montero. Jiang Xi Yun Lithium would provide Montero with beneficiation technology and financing support. Montero will supply Jiang Xi Yun Lithium with long-term lithium production from Africa. Montero would have the opportunity of investing in Jiang Xi Yun Lithium upstream beneficiation plant, lithium carbonate and lithium hydroxide facilities in China. Montero Mining and Exploration's president and chief executive officer, Dr. Tony Harwood, commented that this is an exciting development for Montero: "Jiang Xi Yun Lithium is focused on the supply of battery-grade lithium products to the electric vehicle market in China. Jiang Xi Yun Lithium has already made a significant investment in the development of lithium refining facilities in China and is continuing to expand these with a view to becoming a major supplier of lithium. It wishes to supplement its current supply with lithium from Africa, which is the focus of our MOU. Jiang Xi is an ideal fit for Montero's intention of becoming a lithium producer." Montero currently has three lithium exploration and development projects in Namibia. The current exploration programs are targeting National Instrument 43-101-compliant resources and the exploration of additional lithium targets in Namibia. Jiang Xi Yun Lithium processes and manufactures lithium carbonate and lithium iron phosphate products for the Chinese battery market. It also offers non-ferrous-metal-material, cobalt, nickel, copper and aluminum recycling, processing and marketing services. The company currently has an annual production of 20,000 tonnes of lithium carbonate and is targeting 40,000 tonnes per year by 2020. Twenty-three per cent of the company is held by Guangzhou Tinci Materials Technology, a Chinese battery manufacturing company. The memorandum of understanding between Montero and Jiang Xi Yun Lithium is non-binding and involves continuing discussions and technical investigations by an expert Montero and Jiang Xi Yun team. About Montero Mining and Exploration Ltd. Montero currently has options to acquire the Soris lithium-tantalum-tin project, the UIS lithium-tin tailings project and EPL6162 in Namibia in order to prove up significant lithium resources. Montero's focus is to advance its Namibian assets while seeking partners to advance the balance of its assets. Montero other assets include the Wigu Hill rare earth project in Tanzania and phosphate projects in South Africa. We seek Safe Harbor. Abstract: Montero Mining and Exploration Ltd. has signed an MOU with Jiang Xi Yun Lithium Materials Co. Ltd. for co-operation and development of lithium production in Africa.