Montello Resources Ltd.
TSX VENTURE : MEO

Montello Resources Ltd.

March 11, 2008 11:44 ET

Montello and Joint Venture Partners Spud Morgan Highpoint # 4 Test Well, Morgan County Tennessee

CALGARY, ALBERTA--(Marketwire - March 11, 2008) - Montello Resources Ltd. (TSX VENTURE:MEO) is pleased to announce that after receiving the required regulatory approvals with respect to the licensing of the Morgan Highpoint # 4 Test Well, the well was spud on March 10, 2008. The participating interests in the Morgan Highpoint # 4 Test Well are as follows: Montello, as Operator, is paying 15% of all costs to earn a 35% interest, Austin Developments Corp. - TSX Venture Exchange Symbol "AUL" is paying 20% of the costs to earn a 30% interest, Blackrock Petroleum Corp. - OTCBB "BRPC" is paying 60% of the costs to earn a 30% interest and Park Place Energy Corp. - OTCBB "PRPL" is paying 5% of the costs to earn a 5% interest.

The Morgan Highpoint # 4 Test Well, located in Morgan County, Tennessee is strategically located approximately half a mile south of the suspended Morgan Highpoint # 3 Test Well, which as a precautionary measure, after encountering hydrocarbons, was secured and suspended until additional safety and under balanced equipment could be brought in to safely carry on operations.

ON BEHALF OF THE BOARD OF DIRECTORS

William R. (Bill) Cawker, President-CEO

About Montello Resources Ltd.

Montello Resources Ltd. (TSX VENTURE:MEO), www.montello.com, is an emerging, publicly traded company listed on the TSX Venture Exchange in Canada. Montello is pursuing shallow oil and gas opportunities in Alberta and engaged in drilling high impact oil and gas exploration prospects in the Tennessee Appalachians and in Alberta.

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Reader Advisory: This news release contains certain forward-looking statements, including management's operations and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Corporation's control. The Corporation's actual results, performance or achievements could differ materially from those expressed in, or implied. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. There can be no assurances that future developments affecting Montello will be those anticipated by management. Furthermore any forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise them whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. We Seek Safe Harbor.

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

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