WI The Western Investment Company of Canada Limited

Montello Resources Ltd. ("Montello") (TSX VENTURE:MEO) is pleased to announce
that Mr. Peter C. Brown of Calgary, Alberta has agreed to act as Consulting VP
of Exploration and to join Montello's Board of Directors subject to regulatory
approval. The Company is additionally pleased to announce that Mr. Charles M.
Baumgart also of Calgary, Alberta, has agreed to act as Consulting VP of
Infrastructure and Business Development.


Mr. Brown has 24 years experience in the oil and gas industry, both
internationally and domestically. He is a Structural Geologist/Basin Evaluator
and has extensive knowledge at "Sarcee-Jumping Pound", a well-known Alberta gas
producing region. He will represent the Company upon commencement of the
recompletion of the 10,957 foot 12-13-23-4 W5M cased potential "high impact"
Mississippian/ Rundle Gas Well. He will also be intimately involved in our
effort at Highpoint, Tennessee starting with the John Bowen #2 Test Well Logging
and Evaluation.


Between 1997 and 2001, Mr. Brown was the Vice President, Exploration for Crestar
Energy International, a division of Crestar Energy Inc. Mr. Brown holds a
Bachelor of Science from the University of Aston in Birmingham, UK and a Masters
of Science from the University of London. He is the Chief Operating Officer and
a Director for Pennine Petroleum Corp., our JV Partner at Pincher Creek,
Alberta. Mr. Brown has previously worked with some of our geo-scientific and
engineering advisors for Tennessee and will be meeting with the Tennessee JV
Partners on the pending logging and evaluation of the John Bowen #2.


Mr. Baumgart is a professional engineer with over 25 years experience in the oil
and gas industry. From 2001 to present, Mr. Baumgart has been the President of
Middleton Energy Management Ltd., an energy management company. He is also a
Director of Pennine Petroleum Corp., our Joint Venture Partner at Pincher Creek,
Alberta. He is a mechanical engineer with a B.Sc. degree from the University of
Manitoba, is a member of the Association of Professional Engineers, Geologists &
Geophysicists of Alberta. Montello plans to draw upon Mr. Baumgart's expertise
regarding anticipated logistics in Tennessee, Sarcee, and Mulligan.


Montello's President and CEO, Bill Cawker stated "A main focus in 2008 is to
strengthen technical expertise within the Company. We feel that these
appointments are timely and necessary development with which to lay a strong
foundation going forward."


On December 31st, 2007, Montello closed a 2007 first tranche of Flow Through
Financing to accredited investors as per a CDN $3.51 million non-brokered Flow
Through Private Placement Unit Financing announced on December 17, 2007, which
consists of 1,800,000 Units priced at CDN $1.95 per Unit. (Each Unit is
comprised of 10 Flow Through Common Shares and 5 Non-Flow Through Common Shares,
all priced at $0.13, which totals $1.95 per unit.)


Proceeds received by December 31, 2007 from the flow-through portion of the
Private Placements were used by Montello to incur qualifying expenditures, which
will be renounced in favour of purchasers for the 2007 taxation year. Flow
through proceeds in 2008 will be used by Montello to advance exploratory
activities on joint venture properties, including Pincher Creek, Sarcee,
Grouard, and Mulligan, while non flow through proceeds will be used in Morgan
County, as well as to explore lands that Montello may acquire or farm-in to,
besides for general working capital purposes. A Finder's fees of 7% in cash and
7% in Warrants will be payable on certain portions of the Private Placements.
The Private Placement is subject to the approval of the TSX Venture Exchange.


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 engaged in high impact oil and gas exploration in the Tennessee Appalachians
as well as in Alberta at Sarcee and Pincher Creek. Montello recently
participated, as to a 25% interest, in a successful re-completion in the
1-11-4-29W4 well location. The Pincher Creek Field has been one of the most
prolific fields in Alberta having produced some 600 BCF of gas and over 1
million barrels of associated liquids.


About the Sarcee

Late in 2007, Montello announced terms for expansion of its Working Interest
("WI") at the pending high impact Sarcee Gas Recompletion & Drilling Project
near Calgary, Alberta. (See News Releases of November 2nd & December 11th,
2007). The purchase of an additional 6% "WI" initially focuses on the 10,957
foot 12-13-4 W5M cased potential Mississippian/ Rundle Gas Well. Chapman
Petroleum Engineering Ltd. ("Chapman"), an independent petroleum engineering
firm, after conducting a detailed analysis of the 12-13 Well logs as well as
logs from other wells in the area, prepared a Reserve and Economic Evaluation
Report dated as of January 1, 2007 and assigned 190.3 feet of net pay to the
12-13 Well and 144 feet of net pay to the 7-23-23-04 W5M location ("7-23 Well
Location"). Chapman assigned gross Probable Developed Non-producing Marketable
Gas reserves of 13.757 BCF and Probable Undeveloped Marketable Gas reserves of
10.41 BCF attributable to the 12-13 Well and the 7-23 Well Location
respectively. Montello also has the right to participate in, on a straight up
basis, as to an undivided 8.5% working interest. Filing documentation was
accepted by the TSX Venture Exchange pursuant to an assignment and novation
agreement with Vanguard Exploration Corp. dated Nov. 1, 2007, whereby Montello
agreed to this acquisition for the consideration of 11,663,333 common shares of
the Company valued at CDN $3,499,000 at a deemed price of 30 cents per share
from treasury, subject to a (4) four month hold.


ON BEHALF OF THE BOARD OF DIRECTORS

William R. (Bill) Cawker, President-CEO

Visit www.montello.com for ongoing updates & have your name included on our
mailing list.


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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