CALGARY, ALBERTA--(Marketwire - Dec. 11, 2007) - Montello Resources Ltd. ("Montello") (TSX VENTURE:MEO) is pleased to announce approval of their agreement with Vanguard Exploration Corp by the TSX Venture Exchange to purchase an undivided 6% working interest from the base of the Mannville Formation to the basement in "Sale Lands" encompassing approximately 2,560 acres on the T'suu Tina Reserve located 15 miles west of Calgary, Alberta.

Key to the acquisition is a 6% interest in the suspended 10,957 foot 12-13-23-4 W5M cased potential Rundle Gas Well ("12-13 Well"). After conducting a detailed analysis of the 12-13 Well logs as well as logs from other wells in the area Chapman Petroleum Engineering Ltd. ("Chapman"), an independent petroleum engineering firm, 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") which is included in the Sale Lands. 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 has now purchased these interests from Vanguard Exploration Corp. based on the 10% discount factor value attributed to the Probable Developed Non-Producing gas reserves in the 12-13 Well and the 15% discount factor value attributed to the Probable Undeveloped gas reserves of the 7-23 Well Location as assigned by Chapman pursuant to their Reserve and Economic Evaluation Report, dated as of January 1, 2007 and updated as of November 1, 2007. Filing documentation was accepted by the TSX Venture Exchange pursuant to an assignment and novation agreement 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, which are subject to a (4) four month hold. This acquisition is beneficial to Montello in that it provides the company a net 8.5% interest versus its previous 2.5% working interest in the upcoming recompletion of the 12-13 Well as well as in the follow-up 7-23 Well Location which Montello also has the right to participate in, on a straight up basis, as to an undivided 8.5% working interest.

On December 6th 2007 Montello's Operating Joint Venture Partner, Northern Sun Exploration Company Inc., announced that it has drilled two multi-zone gas wells at Grouard, approximately 500 km northwest of the city of Edmonton.

The logs for the wells are currently being reviewed and the wells will be tested imminently. Montello farmed in on these two gas exploration wells pursuant to the terms of a farm-in agreement signed with Northern Sun Exploration Company Inc. whereby Montello earns a 35% working interest subject to minor overrides in each well in return for paying 50% of the drilling costs. These two gas wells represent multi-zone targets into the Debolt formation at an estimated depth of 850 metres. Upon a successful test, the gas wells will be tied-in to a nearby pipeline.

About Montello Resources Ltd.

ON BEHALF OF THE BOARD OF DIRECTORS

William R. (Bill) Cawker, President-CEO