Montero Licenses BHP Historical Exploration Data for the Avispa Copper-Molybdenum Project, Chile

Montero Mining and Exploration Ltd. has entered into an exploration data license agreement with BHP Chile Inc. to access historical drilling, geological, and assay data for its 100%-owned Avispa copper-molybdenum project in northern Chile. In exchange for the data license and access to approximately 50% of remaining drill chips and pulps, Montero granted BHP a 1% Net Smelter Return (NSR) royalty on mining concessions within the defined Area of Interest. The agreement includes a repurchase option allowing Montero to buy back the 1% NSR royalty for US$5 million, adjusted for any prior royalty payments.

The strategic intent is to integrate BHP's historical dataset with Montero's existing geological, geochemical, and geophysical models to refine exploration targets and support future resource-definition programs. This release follows the company's November 3, 2026 announcement detailing significant land consolidation and expansion at the Avispa and Abeja concession groups, and builds upon the August 2026 private placement that funded ongoing exploration activities.

Montero Mining and Exploration Ltd. (MON) has secured an agreement providing access to a standardized dataset from major operator BHP, a move designed to de-risk the Avispa project and help prioritize future drill targets. While accessing historical data from large operators is a routine step for junior explorers advancing greenfield or early-stage projects, the deal includes a 1% net smelter return (NSR) royalty. This structure features a $5 million buyback option, offering a finite path to remove the royalty burden and preserve the project’s long-term economics.

The transaction does not involve equity dilution or cash outlays beyond the standard royalty structure, nor does it change the company’s operational footprint. Instead, it directly supports Montero’s stated exploration strategy and aligns with technical work already underway at Avispa. This development represents incremental progress in the exploration lifecycle, validating the company’s data-driven approach and setting the stage for future drilling without altering the company’s financial position or introducing new material risks.

Montero Mining and Exploration Ltd. (MON) is a pre-revenue junior explorer focused on copper and gold projects in Chile. The company’s flagship assets include the 100%-owned Avispa project, a copper-molybdenum porphyry deposit located in northern Chile's Palaeocene-Eocene belt, as well as the Elvira and Potrero projects, which offer an option to acquire gold-silver epithermal and potential porphyry deposits in the Maricunga Belt.

Montero’s strategy centers on identifying low-cost discoveries through integrated geological, geophysical, and geochemical data, enhanced by artificial intelligence and machine learning-assisted modeling. All of the company's projects remain in the exploration phase, and no mineral resources or reserves have been defined.