CALGARY, ALBERTA - Montello Resources Ltd (TSX Venture Exchange: MEO) is pleased to provide the following update.

Montello is pleased to announce that on Monday July 26, 2010 the audit committee met with the Company's auditor to discuss and finalize the July 31, 2009 audited financial statements and related disclosure. The committee approved the financial statements and all adjustments as well as the related disclosure. Montello will now complete the Management Discussion and Analysis based on the finalized financial statements and provide all required sign offs. After finalization of the MD&A by the Company and review by the auditor, Montello will file the July 31, 2009 audited financials on SEDAR this week.




ON BEHALF OF THE BOARD OF DIRECTORS


"Peter C. Brown"
Peter C .Brown
President-CEO-Chairman