The migrants, mostly from Central America, were trying to cross into the US from Tamaulipas state when they were captured for a ransom.
After an anonymous tip-off, the army found them being held at gunpoint in "precarious, unhealthy and overcrowded conditions" in a town on the border.
He said: "Everything seems to indicate that the migrants were taken by smugglers commonly known as 'coyotes,' and these offenders handed them over to criminal groups."
A man guarding the migrants was arrested during the raid and others were being sought.
Among those freed were 77 Salvadorans, 50 Guatemalans, 23 Hondurans and an Indian national, Sanchez said. Another 14 were Mexicans.
Following the nationwide military crackdown on organised crime undertaken in December 2006, drug cartels have diversified their income sources by committing kidnapping, extortion, robbery and other crimes.
The National Human Rights Commission estimated in 2011 that about 20,000 migrants are kidnapped every year in Mexico, where they are held for ransoms of more than $2,000 (£1282) paid by family members in the US.


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