Montezuma Mining : 27-Jul-2017 Land Access Agreement Signed Land Access Agreement Signed

27 JULY 2017

➤ Project contains multiple >100ppb soil anomalies providing a pipeline of priority targets.

➤ Priority targets include the underexplored "Brahma" gold

prospect with a 2.5km long >50 ppb Au in soil anomaly.

➤ Brahma was tested with shallow aircore drilling which confirmed a strong coincident basement gold anomaly.

➤ Only three deeper holes > 50m over a small part of the anomaly

have been drilled. All three holes intersected broad mineralised intervals with grades up to 7.6 g/t Au.

➤ Results include1:

➤ Exploration programme to commence as soon as practicable.

Montezuma Mining Company Ltd ("Montezuma" or "Company") is pleased to announce that it has entered into a land access agreement with the owners of the land on which the higher priority gold exploration targets are located.

Previous exploration by Independence Group NL included a regional surface geochemical programme that defined a number of gold anomalies across an area of poorly exposed greenstones. Follow-up drilling across these anomalies was typically first-pass in nature with many intersections left open.

The best of the historic results is at the Brahma Prospect ("Brahma") where a >2.5km long, >50ppb Au in soil anomaly was defined and subsequently followed up with shallow aircore drilling which confirmed the basement anomaly. Three diamond drillholes in a confined area of the anomaly are the only holes drilled to deeper than 50m. The best intersections at Brahma include 73m @ 0.3 g/t Au (including 4m @ 1.6 g/t Au and 1m @ 7.6 g/t Au) however all three diamond holes returned broad mineralised intervals (Figure 2).

In consideration for granting access to explore the gold potential at Holleton, the Company has granted the landowners a 1% Net Smelter Royalty on future production and agreed to pay compenstation for any crop lost due to the impact of the Company's exploration programmes as well as further compensation calculated on a per Ha basis for any land permanently lost due to mining activities.

ABOUT MONTEZUMA MINING

Listed in 2006, Montezuma Mining Company Ltd (ASX: MZM) is a diversified explorer primarily focused on gold and technology metals including manganese, lithium and cobalt. The Company's objective is to achieve returns for shareholders through selected strategic acquisitions and targeted exploration.

Montezuma has 100% interests in the Holleton and Yamarna Gold Projects, the Butcherbird Manganese/Copper Project, the Pinnacles Cobalt-Nickel Project, and the Lake Johnston Lithium-Gold Project all located in Western Australia.

ASX code: MZM

Share price: $0.15

Shares on issue: 83.5M

Market capitalisation: $12.5M

Cash (at 30 June): ~$4.2M

Listed Investments: ~$6.4M

Chairman Seamus Cornelius

Executive Director Justin Brown Non-Executive Director John Ribbons Exploration Manager Dave O'Neill

Company information, ASX announcements, investor presentations, corporate videos and other investor material on the Company's projects can be viewed at www.montezuma.com.au

Figure 1: Soil anomalies generated by Independence Group NL exploration between 2008 and 20101.

Figure 2: Detailed view of the Independence Group NL generated Brahma soil geochemical anomaly and selected drill results from systematic geochemcial aircore drilling and reconnaisance RC and DD drilling1.