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Gold/Mining/Energy : Montello Resources
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To: Bobby Yellin who wrote (2564)10/14/1998 1:13:00 PM
From: Famularo   of 4256
 
JV discovers second kimberlite

Montello Resources Ltd MEO
Shares issued 37,716,158 Oct 13 close $0.43
Wed 14 Oct 98 News Release
Also Redwood Resources Inc (RDW)
Mr. Patrick Power reports
Kennecott Canada Exploration has informed Montello Resources and Redwood
Resources that it4 has intersected kimberlite on the target Roc at a depth
of 120.4 metres. The hole was terminated early at 176.6m depth in
kimberlite due to difficult drilling conditions.
The drill rig has now been moved to the Dragon target and is currently
drilling.
With success on the first two drill targets, Kennecott has expanded the
current drill program to include seven additional targets to be drilled
before Christmas break. Follow-up magnetic surveys have been completed on
these targets which have been selected and sequenced for drilling in the
current program.

LIST OF CURRENT TARGETS FOR 1998

Approx. six of Drilled/confirmed
Target anomaly (m) kimberlite/depth

Phoenix 400x400 Drilled, kimberlite
intersected @ 102.7m
terminated @ 225.8m
in kimberlite

Roc 200x200 Drilled, kimberlite
intersected @ 120.4m
terminated @ 175.6m
in kimberlite

Dragon 300x300 Drilling commenced

Wyvern 1,000x150 Drilling 1998 program

Chimera 150x100 Drilling 1998 program

Pegasus 400x300 Drilling 1998 program

Griffin 400x400 Drilling 1998 program

Xena 300x300 Drilling 1998 program

Medusa 1,400x150 Drilling 1998 program

Legend 400x400 Drilling 1998 program
Caustic fusion results from Phoenix will be available in approximately four
to six weeks.
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