Calgary, Alberta January 3, 2008: Montello Resources Ltd. ("Montello") (TSX Venture Exchange Symbol "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-V: 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. Cawker"

William R. (Bill) Cawker, President-CEO

For further information contact Montello Resources Ltd.: Larry Myles at 604-408-7600 lmyles@montello.com, Bill Cawker President - C.E.O. bcawker@montello.com.

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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."

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