Investment ConferencesInvestment Conferences

RARE EARTHS, SPECIALITY & MINOR METALS INVESTMENT SUMMITINVESTMENT SUMMIT

3.20 – 3.45 Focus on rare earths projects around the worldFocus on rare earths projects around the worldDeveloping a high grade rare earth deposit in TanzaniaDr Tony Harwood – CEO, Montero Mining

THE LONDON CHAMBER OF COMMERCE AND INDUSTRY ● THURSDAY, 18 MARCH 2010www.ObjectiveCapitalConferences.com

March 2010

Disclaimer

This presentation contains “forward-looking statements”.

These forward-looking statements are made as of the date of this presentation and MonteroMining & Exploration Ltd. does not intent, and does not assume any obligation, to updatethese forward-looking statements.

Forward-looking statements include, but are not limited to, statements with respect to thetiming and amount of estimated future exploration, success of exploration activities,expenditure, permitting and requirements for additional capital and access to data.

Forward-looking statements involve known and unknown risks, uncertainties and otherfactors which may cause the actual results, performance or achievements of the Company tobe materially different from any future results, performance or achievements expressed orimplied by the forward-looking statements. Such factors include, among others, risks relatedp y g , g ,to actual results of the current exploration activities; changes in project parameters as planscontinue to be refined; the ability to enter into Joint Ventures or to acquire or dispose ofproperty interests; future prices of mineral resources; accidents; labour disputes and otherrisks of the mining industry; ability to obtain financing; and delays in obtaining governmentalapprovals.

What are Rare Earth Elements?

Rare Earth Elements are a collection of 17 chemical elements on the periodic table, mainly Scandium (Sc), Yttrium (Y) and the 15 lanthanoidsYttrium (Y) and the 15 lanthanoids.

Light Rare Earths include the elements; La, Ce, Pr, Nd, Pm and Sm.

Heavy Rare Earths include the elements; Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, and Lu, these are the most valuable.

The phrase "rare earth" arises from the rare earth metals from which they were first isolated in the late 18th Century.

What are the Rare Earth Elements? 

Light REE:La: LanthanumCe: CeriumPr: PraseodymiumNd: NeodymiumPm: PromethiumSm: Samarium

Heavy REE:yEu: EuropiumGd: GadoliniumTb: TerbiumDy: DysprosiumDy: DysprosiumHo: HolmiumEr: ErbiumTm: ThuliumYb: YtterbiumYb: YtterbiumLu: Lutetium

Rare Earth Applications

Electronic ApplicationsKey for

Green Energy

Green Energy ApplicationsSolar Panels

Electronic ApplicationsLCD MonitorsMRI machinesTV ScreensFiber Optics

Green Energy Economy

RareEarths

Wind TurbinesLED lightingNiMH batteries

Lasers

Other ApplicationsUV Resistant GlassPolishing Compo nds

CatalystsProcessing of ChemicalsCatalytic Convertors

Magnetic ApplicationsPower GenerationHybrid Car motors and automotive partsMP3 Player earbudsHard Disk Drives

Polishing CompoundsFertilizerMedical tracersColourants & SensorsOptical Glass

Gasoline Refining Processing

Hard Disk DrivesMagnetic Applications for appliances

pFluorescent Lighting

Key for Green Energy Economy

REE’s extraordinary expanding uses have named them the “catalysts for high tech-living” with their unique magnetic, fluorescent and chemical properties. REE’s arecritical to 21st Century technological progress & environmentally sustainable development.

Higher profile applications include: neodymium high-strength magnets - used in powerful compact motors for electric and hybrid carsHigh efficiency energy saving light bulbs, gasoline refining processing MRI machines in hospitals, TV and computer screens

Hybrid NiMH BatteryHybrid ElectricMotor & Generator

REE’s play an instrumental role in Hybrid technology

Hybrid cars contain approximately 30kgs of REE’s

Key for Green Energy Economy

REE’s are the building blocks and foundations for new materials technologies that are required g g qto sustain today’s modern society.

Making solar panels more efficientM ti li ti f MP3 l b d t h d di k d iMagnetic applications from MP3 player ear buds to hard disk drivesNew materials creating in thin micro films and high strength magnets Renewable energy applications: solar power, wind turbines Increased energy efficiency in electrical motors LED lightingIncreased energy efficiency in electrical motors, LED lighting, rechargeable batteries, LCD monitors and many consumer electronics

China Dominates REE Production

China produces > 97% of global p gREE supplyBayan Obo mine, China, world’s largest REE resourcelargest REE resourceChina imposed export quotas and tariffs on REE’sJapan is totally reliant on China for suppliesCan the West rely on a single

Source: http://pubs.usgs.gov/fs/2002/fs087-02/

y gforeign source of supply of this strategic commodity?

Global Rare Earths Market

Does not factor-in estimated new technology growth by 50% in 20152010 is forecast to see the growth of new high technology application and inventory restockingand inventory restocking2010 could be start of a Global REE scarcity

Global Rare Earths Market

Global ChinaGlobal China

2010 Demand 140,000 tonnes 100,000 - 130,000 tonnes

2014 Forecast 200 000 tonnes 120 000 tonnes2014 Forecast 200,000 tonnes 120,000 tonnesProducing Capabilities 160,000 tonnes1

Export Quotas Reducing by 6-7%Demand 25% of ALL new technology require REE’sCurrent Mine Supply No REE’s in 15 years

1 only if existing projects are still operational

2010 could see demand start to outstrip supply with the increasing use of new technology

Rare Earth Element Prices

Light Rare Earths % Global Demand 2012 Principal Uses Price US$/kg

Lanthanum Oxide 28.4 Re-chargeable Batteries 5.30 – 5.80

Cerium Oxide 36.6 Catalyst, glass, polishing 3.90 – 4.40

Praseodymium Oxide 3 7 Magnets glass colourant 25 50 – 26 00Praseodymium Oxide 3.7 Magnets, glass colourant 25.50 – 26.00

Neodymium Oxide 20.5 Magnets, lasers, glass 26.50 – 27.00

Samarium Oxide 1.1 Magnets, lighting, lasers 4.25 – 4.75

H R E th P i i l U P i US$/kHeavy Rare Earths Principal Uses Price US$/kg

Europium Oxide 0.6 TV colour phosphors: red 470.00 – 490.00

Terbium Oxide 0.3 Phosphors: green, magnets 420.00 – 440.00

Dysprosium Oxide 1.3 Magnets, lasers 130.00 – 135.00

Gadolinium Oxide 0.1 Magnets, superconductors 7.40 – 7.90

Yttrium Oxide1 6.8 Phosphors, ceramics, lasers 10.00 – 10.50

Source: Metal-Pages.com, February 26, 2010. Prices are indicated and basis FOB China

All Light and Heavy Rare Earths - 99% min except 1 Yttrium Oxide - 99.999% min

Wigu Hill Project - TanzaniaWigu Hill Project TanzaniaHighest Grade “Rare Earth” Project in Africa

Historic grades of 12.7% to 16.5% REOg

2009 Montero Sampling up to 26.2% REO(Neodymium = 2.63%, Lanthanum = 9.06%, Cerium = 13.1%

Gd = 1384ppm, Eu = 279ppm, Dy = 463ppm)Gd 1384ppm, Eu 279ppm, Dy 463ppm)

Uranium and Phosphate potential

Wigu Hill Project Location

MME’s Uranium Licence

Rare Earths +Phosphate

PL’s 142 km²- 142 km²

Wigu Hill Overview

Location: 200km west of Dar es SalaamLocation: 200km west of Dar es Salaam

12km to the TAZARA main line railway

Good road access all year roundGood road access all year round

35km from major town – Morogoro

Wigu Hill Project:Mountain Pass equivalent (historic producer in California, USA)q ( p , )Carbonatite dykes in a 6.4km x 3.2km complexAverage historic grades 14.5% TREOJV to acquire 70% contribution/dilution to a NSR with buy out termsJV to acquire 70%, contribution/dilution to a NSR with buy-out terms

Wigu Hill

Wigu Hill

REE Carbonatite dyke

Wigu Hill Historical data

1957 4 samples taken from1957 - 4 samples taken from main bastnasite dyke (40m):

18.6% REE’s incl. 7.5% CeAverage: 8% REE’s, 2.4% Ce

1973 - sampling:1973 sampling:5.0% Nd; 1.1% Pr; 0.5% Sm;785ppm Gd; 385ppm Eu

2000 - lower dyke sampling:Max values: 15% REE

Carbonatite Dyke Outcrop With Bastnasite Zones Containing the LREE (Light Rare Earth Elements)

2009 ‐ 2010 Exploration Program

Exploration program to define drill targets involving:Exploration program to define drill targets involving:

Detailed geological mappingScintillometer surveySampling program completed (over 220 samples)

• REE and multi-element analysis• Mineralogical analysis

fRoad building to drill identified targetsDetailed channel sampling of major dyke bodiesL ti i d li f dditi l d kLocation, mapping and sampling of additional dykes

Wigu Hill – 2009 Geological Map

Basement gneiss

Fenitised gneiss

Soil

Mbuga

Wigu Hill ‐ 2009 Sampling

Soil

1 kmResults of 2009 Sampling in red

Wigu Hill – Sampling Results

>200 i l b l>200 regional grab samples assayed:

− 109 samples have >1% TRE2O3109 samples have >1% TRE2O3

average 7.4% TRE2O3

− 59 samples have >5% TRE2O3

average 11.4% TRE2O3

Most enriched has 26.2% TRE2O3

REE mineralogy simple: mostly in

coarse bastnasite

Wigu Hill Rare Earth Elements

Enriched in LREE:Enriched in LREE:

− La+Ce+Nd >85%

− HREE (Eu-Lu) 0.85%( )

Growth in “green energy” has greatly increased demand for Nd, La & Ce:

− 300kg Nd in 1MW wind t biturbine

− Toyota Prius battery: 10-15kg La+Ce10-15kg La+Ce

Wigu Hill ‐ Drill Targets

1 kilometreMbuga / soil

1 kilometreCarbonatite

Fenitised Gneiss7.8 – 15.3% REO

Gneiss

4.7-16.9% REO

11.5% REO3.5-6.9% REO

Gneiss

7.5-14.5% REO2.5 – 18.8% REO

% O

6.9-26.2% REO

Mgeta R

5.7 - 22.6% REO13% REO

5.7-13.9% REO

Mgeta R

Wigu Hill REE Mineralogy

Mineralogy - Simple:- Predominantly Bastnasite:

• LREE* (CO3) F • Density: 4 7-5 0; Hardness: 4-4 5Density: 4.7 5.0; Hardness: 4 4.5

- Occurs as coarse crystalline aggregates replacing earlier hexagonal mineralMi P i i- Minor Parisite:• Ca LREE2 (CO3)3 F2

• Density: 4.2-4.3; Hardness 4-5y ;Metallurgy - Simple to produce concentrate- Gravity (ore >4.7 compared to gangue <2.7)- Flotation

* Wigu: 85% La+Ce+Pr+Nd; La/Nd=3

Wigu Hill: Ore Zone

Bastnasite (white)Bastnasite (white)Mg-Fe carbonate (dark brown)

Wigu Hill – A High Grade Undeveloped REE Deposit

D itGrade Size

Deposit(% RE2O3) (tonnes RE2O3)

Mount Weld 11.2% 1,700,000

Mountain Pass 8.9% 1,800,000

Wigu Hill 7.4%* ???

Bayan Obo 6% 48,000,000

Mrima Hill 5% 300,000

Nolan’s Bore 4% 400,000* Average of regional grab samples, not all from orebody: likely to be a minimum

Source of deposit data: SB Castor & JB Hedrick

Uranium Exploration Projects

Tanzania and Quebec, Canada

Quebec, Canada ‐ 100% Ownership

Lac Yvonne ProjectMapping/Sampling/Radiometric SurveyMapping/Sampling/Radiometric Survey

6 Short Drill holes in 19570.08% U3O8 and 3 g/t gold over 4 feet0.30% U3O8 and 3 g/t gold over 4 feet

Girard Claims ProjectGround radiometric surveyOutcrop rock chip samplingCh l li f >100 UChannel sampling of zones >100ppm URidge Anomaly - >100ppm U over 600 x 40m

Drill target definedLDZ Anomaly - >100ppm U over 300 x 200m

D ill t t d fi dDrill target definedNorth Beraud Lake Anomaly –

- Anomalous area covers 1600 x 250m- Infill sampling program - July 2009

NI 43-101 report completed – SRK Consulting

Phosphate Exploration Projects

South Africa

Phosphate in South Africa 

Montero has an option to acquire and develop five phosphate deposits in South Africa:

The total size of the properties is approximately 14,600 Ha

The combined historical resource base of 90 MtThe combined historical resource base of 90 Mt

Open pit resources

Located ithin 10 to 20km from e port port and/or fertili erLocated within 10 to 20km from export port and/or fertilizer producer with infrastructure on site

Project Locations

Saldanha & Lamberts Bay Projects:

150 to 200km north of Cape Town

10 to 70km from Saldanha Bay deep-water harbour Western Cape

Lamberts Bay Project

deep water harbour, Western Cape

Close to Western Cape Agricultural Nodes (wheat, wine)

Bierkraal Project:

120km west of Johannesburg, within the Rustenburg platinum mining nodethe Rustenburg platinum mining node

20km from Omnia’s phosphate chemical production complex situated at Phokeng, North West Province

Bierkraal Project

g

Saldanha Projects

Share Structure

Shares

Sh i d 25 215 676Shares issued 25,215,676

Stock options 2,275,000 p

Total – Fully diluted 27,490,676

Management holding 24.4%

Proposed 2010 Financing

Required C$6,000,000

Wigu Hill drill program to determine a resource

Advance phosphate properties to determine a resource

Acquire additional high quality REE, Uranium and Phosphate projects

Management and Directors

Dr. Antony Harwood - President/CEO - DirectorEconomic geologist with 30 years international exploration and mining experience. g g y p g pFormer President and CEO – Africo Resources Ltd.Former Vice President for Global Generative and Africa-Eurasia Exploration – Placer Dome Inc.Director of Adamus Resources and Lappland Goldminers AB.Former founder and MD of Harwood International Ltd., a geological consulting company.Former lecturer - University of Wales, Cardiff (UK), University of Natal + University of Durban (South Africa).PhD - Geology – 1984 and BSc (Hons) - 1979 cum laude.PhD Geology 1984 and BSc (Hons) 1979 cum laude.

Toni Chapman - CFO - Director15 years financial and administration financial experience in Africa for South African and C di i

Greg Hall - Director (New Director on Board)Seasoned geologist with over 35 years of international experience. Former Chief Geologist - Placer Dome GroupCanadian companies.

CFO for Oryx Mining and Exploration Ltd.Former CFO - Tri Origin Exploration Ltd.Former consultant to Placer Dome South Africa.Former Business Administrator Director for Bastillion Group of Companies

Former Chief Geologist - Placer Dome Group. Over the course of his illustrious career, Mr. Hall 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 ofBastillion Group of Companies. Eastern Goldfields, as well as the definition of AngloGold Ashanti's Sunrise gold mine. Mr. Hall holds a Bachelor of Applied Science from the University of New South Wales, Australia.

Directors:Dr. John Dixon - President & CEO - Oryx Mining & Exploration Ltd.Mr. Andrew Thomson - President & CEO – Soltoro Ltd.

Montero Mining & Exploration Ltd

Registered and Records Office:

1900-1040 West Georgia Street

Vancouver, B.C. V6E 4H3

info@monteromining cominfo@monteromining.com