NEWS RELEASE TRANSMITTED BY Marketwire

FOR:  MONTELLO RESOURCES LTD.

TSX VENTURE SYMBOL:  MEO

OCTOBER 15, 2008

Montello Resources Ltd. Pincher Creek Operational Activity Update

CALGARY, ALBERTA--(Marketwire - Oct. 15, 2008) - Montello Resources Ltd. 
("Montello") (TSX VENTURE:MEO) is pleased to follow up on the news release 
of yesterday provided by Pennine Petroleum Corp., our operator at Pincher 
Creek, Alberta which stated that equipment has been mobilized to initiate 
pump testing of the Brown Sand reservoir at the 100/01-11-004-29W4M 
discovery well. 

Although the operator estimated the work program to take 14 days, progress 
to date has been encouraging. The Brown Sand reservoir will soon be placed 
on pump to establish stabilized daily rates of oil flow. The operator has 
stated in their daily reports of October 12th and 13th to Montello, that 
approximately 500 barrels of clean oil has already been produced. 

The Brown Sand was stimulated in October 2007, with flowing and swabbing 
production at indicated rates of 233 barrels per day of oil (43 API) and 
minor solution natural gas. The well bore was subsequently configured to 
production test the upper Cadomin formation reservoir. According to our 
operator, prior to sanding off, the Cadomin was producing an equivalent of 
290 barrels per day fluid, 82-per-cent, 43-API oil with a steadily 
decreasing load fracture fluid cut to 18 per cent and 300 thousand cubic 
feet of sweet solution natural gas. 

Subsequent to a mandated ERCB (Energy Resources Conservation Board) hearing 
to address the placement of a 258-metre sweet solution natural gas 
conservation pipeline, a commingling application will be made to the 
relevant authorities to produce both the Brown Sand and Cadomin formation 
reservoirs. The hearing initially scheduled for September 30th was re-set 
for November 26th and 27th, to discuss the tie in of the well directly into 
an existing system feeding Shell's Waterton gas plant. Issues such as over 
land reclamation and compensation rights for landowners will be discussed 
and clarified and thus are expected to not have an impact on production 
testing in the area. 

Montello has a 25% interest in the 1-11-4-29W4 well. For further 
information, see our news releases of September 27 and October 4, 2007 filed 
on www.sedar.com. 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 for over 50 years. 

ON BEHALF OF THE BOARD OF DIRECTORS 

Montello Resources Ltd. 

Peter C. Brown, President-CEO 

About Montello Resources Ltd: 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 in 
Alberta. Prospective and current shareholders of 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, and progressive feedback from other shareholders and 
investors. Please go to www.sedar.com for a detailed list of all filings and 
news releases. Also visit www.montello.com for ongoing updates & to have 
your name included on our mailing list. See 
http://www.pinnacledigest.com/company/meo&#58ca. 

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 Harbour. 

"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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FOR FURTHER INFORMATION PLEASE CONTACT:

Montello Resources Ltd.
Larry Myles
(604) 408-7600
Email: lmyles@montello.com
or
Montello Resources Ltd.
Bill Cawker
Chairman
(604) 649-0080
Email: bill_cawker@montello.com
Website: www.montello.com

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

INDUSTRY:  EUOG
SUBJECT:  OEX

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