Montello Resources Ltd.
TSX VENTURE : MEO

Montello Resources Ltd.

April 30, 2007 19:39 ET

Montello Announces That Warrants Expiring in May and June Will Not Be Extended

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 30, 2007) - Montello Resources Ltd. (TSX VENTURE:MEO) -

As a follow up to the news release of Friday April 20th, Montello Resources Ltd. will not be extending the term of 3,650,461 million share purchase warrants expiring on May 6th, 2007. These warrants were issued in 2005 pursuant to a private placement and exercisable at a price of $0.20 per share for a period of two years.

An additional 820,000 warrants expiring on June 9, 2007, will also not be extended. These were issued in 2005 pursuant to a private placement and exercisable at a price of $0.20 per share for a period of two years.

ON BEHALF OF THE BOARD OF DIRECTORS

Bill Cawker President, CEO and Chairman

Montello Resources (TSX VENTURE:MEO) trades on the TSX Venture Exchange. For further information please review our web site at www.montello.com. Interested parties please contact Larry Myles lmyles@montello.com (604) 408-7600 if you wish to be on our contact list or Bill Cawker at bcawker@montello.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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