Templeton has been absent with an Achilles problem and was not expected to be back this weekend but the winger has made a quick recovery and could be in the starting line-up.
And midfielder Black is also set to return, having served the one-game suspension he incurred for being sent off at Elgin.
But Lewis Macleod, Dean Shiels and Darren Cole remain on the long-term injury list and Andy Little will be on the sidelines because of a knee injury.
Ross Perry won't be risked and back-up goalkeeper Scott Gallacher is out with a wrist problem, so Blair Currie will take his place on the bench, while Francisco Sandaza remains suspended by the club.
Montrose are currently third in the Scottish Division Three table, albeit 26 points behind Rangers, and they drew 1-1 at Ibrox at the end of January.