Monterey Minerals Inc. announced that the company has completed the previously announced ten (10) hole diamond drilling program at its wholly-owned Alicia high-grade gold and base metals project in the Philippines ("Alicia Project"). The ten-hole diamond drilling program commenced on October 7, 2020 and 2,074 metres were completed in December 2020. The depth of the holes ranged from the first hole, which was 150 metres in length to the hole number 6, which was 318.8 metres in length with the average length being just over 200 metres. Monterey's primary focus was to test the along strike and down dip potential of the Alicia epithermal vein system. The program targeted three veins (Pamaraw, Baloy and Sandi) and also included the discovery of a new vein (the Toto Vein) on the property. Alicia now hosts eleven veins that have been discovered at the project to date. The target model for the Alicia Project, is that of a multi vein epithermal deposit, located within the highly prospective "boiling zone" of the hydrothermal system. Recent drilling (Hole #10 ­ EX SV 019) also indicates that there may be a degree of telescoping at the project. Telescoping in epithermal and porphyry copper systems occurs when there is a reduction in the volcanic surface throughout the formative life-span of the host volcano. This process is capable of superimposing or juxtaposing copper porphyry mineralization with the epithermal system. Monterey will outline plans for 2021, including further work at the Alicia Project to attempt to identify additional signs of telescoping of the system. Company geologists will examine both the recent and historic core for the presence of copper porphyry veinlets; breccias inspected for clasts of potassic alteration and alteration mapping done to determine if there are any significant areas of potassic alteration. The previously completed ground magnetic survey will also be reviewed and additional surveys planned, as well as investigating the use of Induced-Polarisation surveys at the project site.