A stoppage- time equaliser from veteran striker Chris Templeman sent Montrose home delighted after playing second fiddle to Peterhead for the entire 90 minutes.
Gable Endies boss Stewart Petrie, whose side sit second and are unbeaten in five league matches, admitted it was a smash-and-grab act.
He said: “When you get a goal that late in the game you feel you are fortunate to come away with a point.
“We kept plugging away without looking like scoring and it was the set-piece that saved us – a great delivery from Martyn Fotheringham and a header from Chris.
“We certainly weren’t at our best and Peterhead kept us pinned back, especially in the first half.”
Top scorer Rory McAllister rattled the crossbar with a sixth-minute effort as the Blue Toon began brightly and two minutes later Russell McLean headed a Willie Gibson cross wide of goal.
Jason Brown came close for Jim McInally’s side while a Gibson 25-yard free-kick bobbled past the post.
Paul Watson’s low drive from 12 yards was Montrose’s first shot of a one-sided half then Iain Campbell curled a 20-yard free-kick over the bar.
The second half began in similar fashion to the first and Peterhead could have scored in the 50th minute, McAllister side footing wide at the back post.
The deadlock was broken in style in the 71st minute when midfielder Jack Leitch chipped over Gable Endies keeper Allan Fleming from the edge of the box.
But two minutes into stoppage time Templeman headed in a Fotheringham corner-kick completely unchallenged for a share of the spoils.