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Gold/Mining/Energy : Montello Resources

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To: JP who wrote (3910)	1/6/2000 3:48:00 PM
From: Elly Vasilopoulos	Read Replies (1) of 4256

Here is the news release: MONTELLO RESOURCES LTD. Suite 1473, Three Bentall Centre 595 Burrard Street P.O. Box 49057 Vancouver, British Columbia V7X 1C4 Tel: (604) 689-1799 Fax: (604) 689-8199 E-Mail: ppower@montello.com Web Page: <http://www.montello.com/>www.montello.com or <http://www.investment.ca/>www.investment.ca December 9, 1999January 6, 2000 TRADING SYMBOL: MEO.V (Canadian Venture Exchange- CDNX) U.S. 12g #82-1812 Swan Hills Oil Lease Update Montello Resources Ltd. announces further to our news release dated December 10, 1999, that in the near future the company will be selecting a joint venture partner for our 100% owned (no existing encumbrances) Petroleum & Natural Gas Lease in the Sturgeon Lake Area, Alberta. Evaluation of extensive geological and geophysical data has identified several drill targets. Drilling targets include a D3 Leduc pinnacle reef buildup and a Beaverhill Lake / Swan Hills barrier reef. The isolated D3 Leduc pinnacle reef target is approximately 2 miles from a producing pinnacle with an original estimated 5 million barrels of recoverable oil reserves. The mapped pinnacle feature on Montello lands is on the same Leduc platform as the producing pinnacle and both are located immediately in front of the massive prolific Sturgeon Lake Leduc complex. Once a Joint Venture is completed, drilling on these targets will commence as soon as possible. Montello also wishes to inform that it is re-evaluating the data on its Metallic and Mineral permits which are contiguous to the Birch Mountain Resources claims (symbol BMD on CDNX). Montello's properties consist of approximately fourteen townships (50/50 joint ventured with New Claymore Resources Ltd) For a complete map on these properties see our web site <http://www.montello.com/i/maps/meo-jan062000.gif>http://www.montello.com/i /maps/meo-jan062000.gif Any joint venture on the companies Petroleum & Natural Gas Lease in the Sturgeon Lake Area, is subject to the approval by the Canadian Venture Exchange. ON BEHALF OF THE BOARD OF DIRECTORS MONTELLO RESOURCES LTD. Per: “Patrick Power” PATRICK POWER, President The Canadian Venture Exchange has neither approved nor disapproved the information contained herein.

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