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

To: griz who wrote (3139)	4/16/1999 12:08:00 PM
From: Sailfish	Respond to of 4256

Fri Apr 16, 1999 New Kennecott Joint Venture and Alberta property update Montello Resources Ltd. "Montello" wishes to take this opportunity to update its shareholders. It is Montello's long term strategy to continue to build its relationship with Kennecott Canada Exploration Inc. "Kennecott". In this regard Montello is pleased to announce that it has signed a letter of intent with Kennecott for diamond reconnaissance in the province of Manitoba, Canada. Under the terms of the Letter Agreement Kennecott and Montello shall form a joint venture with the initial participating interests being Kennecott - 60%, and Montello - 40%. Kennecott shall be the manager of the joint venture. Execution of the final Joint Venture Agreement shall be subject to approval by the Alberta Stock Exchange. Also, Montello remains committed to the Alberta diamond play. Six kimberlite cores are still to undergo caustic fusion at Kennecott's Thunder Bay Laboratory. As soon as it is complete results will be announced. Due to caribou calving and "spring break-up" drilling cannot resume until June. At that time Montello and Kennecott will meet to reassess priorities. Montello is committed to maximising shareholder value and as such is considering all investment opportunities. As soon as there is a development on any of these fronts news will be released. ON BEHALF OF THE BOARD OF DIRECTORS MONTELLO RESOURCES LTD. "Patrick Power" President The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

To: griz who wrote (3139)	4/16/1999 12:18:00 PM
From: JP	Read Replies (2) \| Respond to of 4256

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: www.montello.com April 16, 1999 TRADING SYMBOL: MEO.Y (Alberta Stock Exchange) U.S. 12g #82-1812 New Kennecott Joint Venture and Alberta property update Montello Resources Ltd. “Montello” wishes to take this opportunity to update its shareholders. It is Montello's long term strategy to continue to build its relationship with Kennecott Canada Exploration Inc. “Kennecott”. In this regard Montello is pleased to announce that it has signed a letter of intent with Kennecott for diamond reconnaissance in the province of Manitoba, Canada. Under the terms of the Letter Agreement Kennecott and Montello shall form a joint venture with the initial participating interests being Kennecott – 60%, and Montello – 40%. Kennecott shall be the manager of the joint venture. Execution of the final Joint Venture Agreement shall be subject to approval by the Alberta Stock Exchange. Also, Montello remains committed to the Alberta diamond play. Six kimberlite cores are still to undergo caustic fusion at Kennecott's Thunder Bay Laboratory. As soon as it is complete results will be announced. Due to caribou calving and “spring break-up” drilling cannot resume until June. At that time Montello and Kennecott will meet to reassess priorities. Montello is committed to maximising shareholder value and as such is considering all investment opportunities. As soon as there is a development on any of these fronts news will be released. ON BEHALF OF THE BOARD OF DIRECTORS MONTELLO RESOURCES LTD. Per: “Patrick Power” PATRICK POWER, President The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.