Core Viewpoint - Montero Mining and Exploration Ltd. has entered into two option agreements to acquire 100% interests in the Elvira and Potrero Gold Projects located in Chile's Maricunga Belt, a region known for its significant gold mining activity [1][4]. Agreement Details - The agreements allow Montero to acquire each project by making staged payments totaling US$7 million over six years, with an initial payment of US$40,000 due within ten days of TSX Venture Exchange approval [2]. - The payment schedule includes subsequent payments of US$100,000 by September 15, 2026; US$150,000 by September 15, 2027; US$260,000 by September 15, 2028; US$400,000 by September 15, 2029; US$550,000 by September 15, 2030; and US$5.5 million by September 15, 2031 [2]. Project Characteristics - The Elvira and Potrero projects are situated in a road-accessible area approximately 170 km northeast of Copiapó, at elevations of 3,800 to 4,700 meters above sea level, characterized by Miocene-aged stratovolcano systems [5]. - Historical drilling has indicated significant gold mineralization potential, with both projects exhibiting strong epithermal and porphyry-style signatures [4][5]. Exploration Plans - Montero has allocated an initial exploration budget of CAD$140,000 for each project, with immediate commencement of mapping, sampling, and geophysical surveys to define drill targets [11]. Company Background - Montero Mining and Exploration Ltd. is a Canadian exploration company focused on mineral exploration in Latin America, recently concluding a US$27 million settlement with the Government of Tanzania [13]. - The company holds a 100% interest in the Avispa copper-molybdenum project in northern Chile and has a strong track record in discovering and developing mineral projects [14].