Monterey Minerals Reports Results from Recent Field Work Program at Cobalt Mountain

TORONTO, Oct. 29, 2019 (GLOBE NEWSWIRE) — Monterey Minerals Inc. (the “Company” or “Monterey”) (CSE: MREY) is pleased to report on results from the 2019 soil sampling, prospecting and mapping program recently completed on the Company’s Cobalt Mountain Property located near Smithers British Columbia. The Company announced that the program was underway on October 8, 2019.

President and CEO, James Macintosh stated: “Building on previous work, crews were able to define multiple soil anomalies for both copper and molybdenum that are related to magnetic anomalies identified by previous operators. Zonation of mineralization as you would expect from a porphyry system is starting to become apparent, allowing us to begin to build a model that will drive future exploration.”

Figure 1 – Soil Sample Results Overlain on Magnetic Highs: https://www.globenewswire.com/NewsRoom/AttachmentNg/b4bb9f64-218f-4c73-b9bb-ea972b061bdd

The Zante Target showing hosts the largest copper (Cu) and coincidental molybdenum (Mo) anomalies covering an area of 1500m x 1000m with the Cu/Mo overlying geophysical magnetic highs. The Cu anomalies remain open to the east, west and north towards Tina. (Figure 1).

In addition to the Zante Target showing, limited sampling indicates coincidental Cu and Mo soil anomalies at Corinth Target area along with stockwork Cu mineralization. Both the historic Tina and Balsam targets returned elevated values for Cu in soils and rock samples. See Table 1 below for selected highlights of rock chip sampling.

Table 1 – Highlights of Rock Sampling

Qualified Person

The technical information in this press release has been reviewed and approved by Scott Petsel, P.Geo, a qualified person as defined by National Instrument 43-101 and an independent consultant to the Company.

About Monterey Minerals Inc.

The Company owns 100% of the Cobalt Mountain Property (the “Property”) in the Omineca Mining Division of British Columbia near the town of Smithers. The Company’s NI 43-101, on SEDAR, notes historic sampling on the Property that returned mineralized showings of gold, silver, copper, zinc and cobalt. The Company also has 992 sq. km. of prospective Pilbara Basin tenements on the eastern flank of the Pilbara Basin in Western Australia, including a property that abuts Pacton Gold’s tenement where gold-bearing conglomerates were identified.

For more information, contact investor relations at [email protected]

On Behalf of the Board of Directors,

James Macintosh
President and CEO

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.