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Gold/Mining/Energy : Montello Resources

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To: JP who wrote (2237)	7/13/1998 4:46:00 PM
From: Famularo	of 4256

Legend block geophysical program complete Montello Resources Ltd MEO Shares issued 35,719,337 Jul 10 close $0.35 Mon 13 Jul 98 News Release Also Redwood Resources Inc (RDW) Mr. Patrick Power reports The company has completed a ground geophysical follow-up program on three airborne geophysical targets identified on the Legend block (70 per cent Montello, 30 per cent Redwood). The Legend block is approximately 50 kilometres east of the main Ashton Discovery block. One of the targets shows as a magnetic high of 410 nT with dimensions of approximately 400 metres x 400 metres. The other two targets also respond as anomalous magnetic highs. The company is continuing with ground follow-up work on targets identified during the recently completed aeromagnetic flyover on the Legend block.

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