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

To: JP who wrote (3014)	2/5/1999 4:40:00 PM
From: JP	Respond to of 4256

CALLING LAKE AND CHAIN LAKES PROPERTY JOINT VENTURED WITH ABADDON Montello Resources Ltd. (“Montello”) has entered into an option agreement to sell to Abaddon Resources Inc. (“Abaddon”) 50% of Montello's 60% interest in the Jackfish (Calling Lake) (60% Montello/40% EVR) and Tyrell (Chain Lakes) (50% Montello/50% EVR) Properties located in Alberta. Pursuant to the terms of the agreement, cash payments and a share issuance will be made by Abaddon to Montello as follows: (a) $42,500 and 50,000 shares upon signing; (b) $6,750 on February 12, 1999; (c) $6,750 on March 12, 1999; (d) $6,500 on April 12, 1999; (e) $37,500 on January 12, 2000; and (f) $37,500 on January 12, 2001. The Jackfish Property consists of approximately 742,000 acres and is located in the Calling Lake Area. The Tyrell Property consists of approximately 979,000 acres and is located near the Chain Lakes Area situated on the Hearne Craton in southern Alberta. The respective parties' interests in the properties are now as follows: Jackfish Property (30% MEO/30% ABA/40% EVR) and Tyrell Property (25% MEO/25% ABA/50% EVR). ON BEHALF OF THE BOARD OF DIRECTORS MONTELLO RESOURCES LTD. Per: PATRICK POWER, President The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. MONTELLO RESOURCES LTD. Suite 1473 - 595 Burrard Street P.O. Box 49057 - Three Bentall Centre Vancouver, B.C. Canada V7X 1C4 Tel: (604) 689-1799 Fax: (604) 689-8199 Toll Free: 1-800-268-2636 E-mail: ppower@montello.com Website: <http://www.montello.com>http://www.montello.com