Calgary, Alberta, November 19, 2008, Montello Resources Ltd. ("Montello") (TSX Venture Exchange Symbol: MEO) is pleased to announce the commencement of operations for the testing-completion of the John Bowen #2 deep gas zone. The rig arrived on site November 18th ..

Montello is also currently involved in projects in Alberta.

Montello, subject to regulatory approval, proposes a "Non-brokered Flow-Through Private Placement Unit Offering" available to accredited investors for an aggregate offering of CDN $480,500 before the exercise of warrants.

The Flow-Through Unit Financing will consist of up to 1,550,000 units priced at CDN $0.31 per unit and will be comprised of (4) four Common Shares, (6) six flow through Common Shares for 10 common shares as well as (10) ten Common Share Purchase Warrants exercisable at (5) five cents each.

The purchase price of the Flow Through Units will be allocated as to CDN $0.03 per flow-through Common Share, and CDN $0.001 per Common Share Warrant. The closing trading price on November 18 and 19, 2008 was CDN (3) three cents per common share on the TSX Venture Exchange. Only Canadian taxpayers can take advantage of flow-through.

If all Common Share Warrants are exercised would provide the Company with additional gross proceeds of CDN $775,000.00. Sixty percent of the proceeds received from the sale of the Flow Through Units will be used by Montello to incur qualifying Canadian exploration expenses, which will be renounced in favour of purchasers for the 2008 and/or 2009 taxation year depending on closing.

Finder's fees are 8% of the purchase amount of Non-Flow Through Units or Flow Through Units.

The Private Placement Unit Offering is subject to the approval of the TSX Venture Exchange and proceeds from the offering will be used to develop its oil and/or natural gas prospects in Morgan County, Tennessee, advance exploratory-completion activities on our Alberta joint venture properties.

ON BEHALF OF THE BOARD OF DIRECTORS

Montello Resources Ltd.
"Peter C. Brown"
Peter C. Brown, President-CEO

About Montello Resources Ltd: Montello Resources Ltd. (TSX-V: MEO), is a Calgary based, publicly traded oil and gas explorer listed on the TSX Venture Exchange in Canada with operations focussed in Tennessee and in Alberta. For further information contact Larry Myles 604-408-7600 / lmyles@montello.com, and Chairman Bill Cawker 604-649-0080 bcawker@montello.com. 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 & have your name included on our mailing list.// See http/www.pinnacledigest.com/company/meo:ca

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."