Mart Resources, Inc.
TSX VENTURE : MMT

Mart Resources, Inc.

January 18, 2007 17:31 ET

Mart Resources, Inc. Closes Common Share Private Placement

CALGARY, ALBERTA--(CCNMatthews - Jan. 18, 2007) - Mart Resources, Inc. (TSX VENTURE:MMT) announces that it has completed a first closing of 10,335,000 units of its previously announced private placement for aggregate proceeds of $6,201,000. Each unit consists of one common share and one-half common share purchase warrant exercisable at $0.75 per share expiring January 16, 2008. The common shares, warrants and any warrant shares issued upon the exercise of the warrants are subject to a statutory restriction on trading until May 16, 2007.

As previously announced, the proceeds of the private placement will be used for ongoing drilling and development operations on Mart's Nigerian oil field properties and for general working capital.

Certain statements in this News Release constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.

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