Montrose dominated the first half with most of the chances falling to striker Greig Henslee.
After 19 minutes Henslee just failed to connect properly with a Martyn Fotheringham free-kick. Ten minutes later Henslee shot over at the second attempt following a Barry Donnachie cross.
The home pressure continued and after 34 minutes a good passing movement ended with Henslee shooting just over.
Three minutes from half-time a long kick from goalkeeper Andy Reid was controlled by Henslee, but again his drive just cleared the cross bar.
Seconds later Fotheringham had a chance, but his drive from 25 yards also went over.
A minute into the second half Henslee combined with Fotheringham and his shot was turned round the post for a corner by Jamie Ewings.
Albion had a chance after 49 minutes when Craig Young headed wide from a good position. After 63 minutes a Henslee drive on the turn was well saved by Ewings, who recovered to save before Steven Kerrigan could knock home the rebound.
Henslee had the ball in the net after 69 minutes, but the goal was chopped off for an infringement.
Albion Rovers grabbed the lead after 71 minutes when a simple through ball opened up the home defence and Chisholm rounded the keeper before scoring.
Worse was to follow for Montrose as just seven minutes later Chisholm glanced home a low cross from Tommy Lennox to make it 2-0.
Montrose had one last chance after 87 minutes but Fotheringham shot wide from a great position.