Montana Exploration Corp. announces progress on Montana Shaunavon drilling program

CALGARY, Oct. 24, 2013 /CNW/ - Montana Exploration Corp. ("MTZ") (TSXV:MTZ) announces that they have drilled the first well of a scheduled 2013 four-well drilling program with a primary objective of targets in the Upper and Lower Shaunavon (Bowes/Sawtooth/Firemoon).  Based upon the presence of hydrocarbons in the core and logs, MTZ and its Denver-based joint venture partner have elected to case the well for evaluation and completion.  Drilling has commenced on the second well in the vertical well program designed to define the extent of the Shaunavon resource and the productive capability of approximately 150,000 net acres in Montana that is prospective for the Shaunavon.

About Montana Exploration Corp.

MTZ is a Canadian junior oil and gas exploration and production company focusing on the Shaunavon oil opportunities underlying its extensive land holdings in the state of Montana. In the United States the company operates through its wholly owned subsidiary, Montana Land & Exploration, Inc.  MTZ's common shares are listed on the TSX Venture Exchange under the trading symbol "MTZ".  MTZ recently announced a business combination with Waldron Energy Corporation (TSX:WDN) pursuant to a plan of arrangement.  Additional information regarding MTZ is available under MTZ's profile at www.sedar.com or at MTZ's website, www.montanaexplorationcorp.com.

Forward Looking Statements

This press release contains statements that constitute "forward-looking information" or "forward-looking" statements" (collectively "forward-looking information") within the meaning of applicable securities legislation. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", believe", "expect", "plan", "intend", "forecast", "target", "project", "guidance", "may", "will", "should" "could", "estimate", "predict" or similar words suggesting future outcomes or language suggesting an outlook.

Various assumptions were used in drawing the conclusions or making the forecasts and projections contained in the forward-looking information contained in this press release.

Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by MTZ and described in the forward-looking information contained in this press release. Undue reliance should not be placed on forward-looking information..

The forward-looking statements and information contained in this press release are also affected by the risk factors, forward-looking statements and assumptions and uncertainties described in MTZ's reports on file with applicable securities regulatory authorities and which may be accessed on each party's SEDAR profile at www.sedar.com.  Readers are cautioned that the foregoing list of factors that may affect future results is not exhaustive.  When relying on our forward-looking statements to make decisions with respect to MTZ, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.  Furthermore, the forward-looking statements contained in this press release are made as of the date of this press release and MTZ do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.  The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 

SOURCE: Montana Exploration Corp.

For further information on MTZ and the Arrangement, please contact:

Montana Exploration Corp.
Charles Selby, Chairman & CEO
Telephone: [phone] (ext. 247)
Email: [email protected]

Don Foulkes, President
Telephone: [phone] (ext. 248)
Email: [email protected]