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Gold/Mining/Energy : Montello Resources -- Ignore unavailable to you. Want to Upgrade?

To: FRANK KENDRICK who wrote (2941)	12/24/1998 12:47:00 PM
From: griz	Read Replies (1) \| Respond to of 4256

Merry Christmas All! Received this by e-mail from Montello: "1998 has been a breakthrough year for Montello. The approximately 4,000,000 acres of mineral exploration permits located in the Buffalo Hills area of Alberta which were staked by Montello in early 1997 have revealed seven kimberlite pipes. Caustic fusion results from the Phoenix kimberlite have recovered five diamonds from 380 kilograms of drill core. Caustic fusion results from the remaining kimberlite pipes are expected to be received in early January, 1999. Montello, together with Redwood Resources Ltd. which holds a 30% interest in certain of Montello's Buffalo Hills properties, has entered into an option agreement with Kennecott Canada Exploration Inc. under which Kennecott would earn a 60% interest in the Legend Property. Under this option agreement Kennecott, as operator, is required to make all expenditures required to bring the project to a mutual decision to mine or to make exploration expenditures totalling $30,000,000. To date, 14 additional targets have been identified in the Legend Property and which are expected to be drilled by Kennecott in early 1999. Management expects that the discoveries of 1998, coupled with future discoveries will propel Montello into the 21st century as a leader in diamond exploration in Canada. With an expected turn-around in the apparently under-valued Canadian natural resource market 1999 should prove to be an exceptional year for Montello. The Company thanks you for your continued interest and support and looks forward to hearing from you in the new year." For more information call 1-800-268-2636. Later, Griz