TORONTO - Monterey Minerals Inc. (the 'Company' or 'Monterey') (CSE: MREY and FSE: 2DK) is pleased to report that New Age Exploration Limited (ASX: NAE) ('New Age') has extended the previously announced option of the Company's Northern Pilbara Tenements until July 2021.

The option, which includes four tenements (E47/3958, E45/5063, E45,5064 and E45/5065), comprises 538 sq. km.

Under the terms of the extension, Monterey will receive an additional CAD$100,000 and New Age agrees to spend AUS$400,000 in exploration expenditures on the Tenements prior to exercising its option. All other terms remain the same.

About Monterey Minerals Inc.

The Company owns 100% of the Alicia Project in the Alicia Municipality of the Philippines. The Alicia Project is a system of multiple, high-grade gold and silver veins with base metals over a strike length of greater than ten kilometres. The Company also owns 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 technical report, available on SEDAR, notes historic sampling on the Property that returned mineralized showings of gold, silver, copper, zinc and cobalt. The Company also owns 538 sq. km. of prospective Pilbara Basin tenements on the eastern flank of the Pilbara Basin in Western Australia.

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.

Contact:

Tel: +1.416.862.7003

Email: info@montereyminerals.com

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