CALGARY, ALBERTA--(Marketwire - Sept. 22, 2008) - Montello Resources Ltd. ("Montello") (TSX VENTURE:MEO) is pleased to announce that Montello Resources USA Ltd. is currently securing services to commence testing of its Tennessee High Point #2 Deep Gas Well. Upon completion of testing, the Company intends to fully evaluate the gas zone that was identified on the Schlumberger cased hole logs as announced on May 6th, 2008.

The Company also intends to test the prospectivety of the Chattanooga Shales in its wells. Recent tests in the Chattanooga close to the Montello leases have proved highly economic. Offset producing properties have shown production results between 200 to 500 MCF/day on vertical wells. For further background on the Chatanooga Shales please see the following links for your perusal.

http://www.rigzone.com/NEWS/article....

http://www.scandoil.com/moxie-bm2/ne...

http://oilshalegas.com/chattanoogash...

Montello Resources USA Ltd. is proceeding to sell its produced oil prior to completing the oil zones and will be commencing testing initially of the gas zone as the service company hired to complete the oil zone is completing another job and will not be available until at least mid October.

Montello and its partners at Pincher Creek in south-western Alberta were recently notified by the operator, that one of the two zones of interest will be serviced and put online for production. It was tested at over 125 bopd. 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 final work to bring on the 2nd zone is anticipated to commence following a successful "Right of Way Hearing" - posted August 7th by the ERCB (Energy Resources Conservation Board) and scheduled for Tuesday, September 30th, 2008. An application was submitted by our operator for approval to construct and operate a pipeline that would be approximately 0.26 kilometres or approximately 853 feet in length. 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.

Montello recently announced a non-brokered private placement of non-flow through units and flow through units to accredited investors. This news release may be found at www.sedar.com in our August 12, 2008, news release. Proceeds are for developing oil and natural gas prospects in Tennessee; advance exploratory activities in Alberta such as at Pincher Creek, general working capital purposes, and to explore lands that Montello may acquire or farm-in to.

Joseph Dow has resigned from the Board of Directors and new CFO Mike Williams has taken his place. We thank Mr. Dow and wish him well in his future endeavours and warmly welcome Mr. Williams to the Board.