Montero Mining and Exploration Ltd. has been awarded exploration licenses covering an area of 13,800 hectares in the Atacama Desert of northern Chile. The exploration licenses are located between the Salar de Atacama and the coastal range in northern Chile. The geology of the Avispa Project consists of extensive sedimentary evaporite salt deposits intercalated with fine grained clastic sediments of Tertiary age that occur in a stratified package, partially exposed and up to 30 m in thickness. The evaporite deposits are considered to have been deposited as a lacustrine sequence that formed in a tectonically isolated part of the early Río Loa basin sedimentary infill in northern Chile. Reconnaissance channel sampling by the Founders of the evaporite lacustrine sequences found in the Avispa project area revealed anomalous values of lithium and iodine, as well as potassium, sodium and calcium as nitrates and sulphates that are generally encountered in the caliche deposits of the Chile nitrate fields. The values obtained are provided in Table 1 below. These will be verified by an independent set of samples taken by Montero to better understand the extent of the lithium, iodine and nitrate mineralization on the property. The evaporite deposits are exposed and the extent of their surface expression has been determined by reconnaissance field traverse ground truthing and remote sensing techniques (including aerial photograph and Google Earth imagery interpretation). Based upon this work, Montero made application for 13,800 hectares of exploration licenses that have now been awarded. The area of the exploration license was previously held by BHP for base metal exploration and several historical drill holes are located on the property.