MEO Montello Resources Ltd (Tier2)

Montello Resources Ltd. (TSX VENTURE:MEO) ("Montello") wishes to announce the
recent results of operations at Pincher Creek, Alberta, Canada and those
undertaken at Highpoint, Tennessee, USA by wholly owned United States
subsidiary, Montello Resources U.S.A. Ltd.


At Pincher Creek preliminary approval was received on January 29, 2009 from the
Energy Resources Conservation Board (ERCB) to proceed with the construction of a
258 meter long sweet gas pipeline after land owners lifted their objections. It
will connect the 100/01-11-29W4M well to the pipeline system feeding Shell Oil's
Waterton gas plant. On test, this well has produced light oil and solution gas
from both the Brown Sand and Cadomin formations. A comingling application will
be made to the ERCB to allow the two formations to be produced simultaneously.
Montello has a 25.00% interest in the 01-11 well prior to payout and 15.00%
after payout. It is anticipated that production from the well can commence
before the end of the 2nd Quarter of Calender 2009.


In Tennessee, testing of the gas reservoir interval from 2,523 to 2,528 meters
in the John Bowen #2 Test Well, was carried out between November 18 and December
4. It was perforated, fracced with nitrogen, acidized and swabbed for three
days. The well was subsequently shut in for seven weeks and continually
monitored for pressure buildup. The flowback and subsequent monitoring of the
well has indicated that the gas zone tested is not commercial. The gas zone will
be abandoned and Montello will meet with the other participants to review
existing plans for further development on the prospective zones in the five
wells that the group has drilled in the area in particular, the Chattanooga
Shale.


About the Chattanooga Shale: Drilling of the Chattanooga Shale is still
relatively new with such companies as Atlas Energy (ATN), CNX Gas Company (CNX),
Chesapeake Energy (CHK), Range Resources (RRC), GeoMet Inc. (GMET), actively
pursuing mineral rights (drilling rights). The Chattanooga Shale is an organic,
hydrocarbon rich shale found throughout Eastern Tennessee. It is an extension of
the Appalachian Basin Devonian Shale, which is known to most as the Marcellus
Shale and is believed to hold rich areas of natural gas. It is located in
Eastern Tennessee, Northern Alabama, Southern Kentucky and Northeast Georgia. It
is thought to be a source rock for the hydro-carbons produced from many of the
conventional reservoirs in Tennessee. The shale thickness can vary to in excess
of 200 feet. (The following links on the Chattanooga Shale are the source for
the overview above. They are independent 3rd party sources, which are believed
to be reliable, but cannot be guaranteed for completeness or accuracy).


http://oilshalegas.com/chattanoogashale.html

http://www.rigzone.com/NEWS/article.asp?a_id=61128

http://www.scandoil.com/moxie-bm2/news/atlas-energy-reports-four-successful-horizontal-we.shtml


Certain holders of 14,200,000 incentive stock options including all management
and board members, have agreed to the cancellation of their options ranging in
price anywhere from 10 cents to 21 cents per share. That leaves approximately
1,275,000 options presently remaining issued.


ON BEHALF OF THE BOARD OF DIRECTORS

Peter C .Brown, President-CEO

Montello Resources Ltd. (TSX VENTURE:MEO), is a Calgary based, publicly traded
company listed on the TSX Venture Exchange in Canada. Operations are
geographically focussed in Tennessee and Alberta. Prospective and current
shareholders are invited to join the company's official investment forum
exclusively at www.pinnacledigest.com. The forum allows for investor controlled
discussion, questions, third party reports and articles, as well as feedback.
Please go to www.sedar.com for a detailed list of all filings and news releases.
Also visit www.montello.com for ongoing updates & have your name included on our
mailing list. See http/www.pinnacledigest.com/company/meo:ca.


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.


"BOEs may be misleading, particularly if used in isolation. A BOE conversion
ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method
primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead."

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