Mart Resources, Inc.
TSX VENTURE : MMT

Mart Resources, Inc.

September 24, 2009 08:30 ET

Mart Resources, Inc.: Purchaser Requests Payment Extension

CALGARY, ALBERTA--(Marketwire - Sept. 24, 2009) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart") announces that, further to its news release of September 21, 2009, Westfield Exploration and Production Limited and its wholly owned Canadian subsidiary, Westfield Oil Holding Limited (collectively, the "Purchaser"), have requested a further extension for the payment of the cash consideration for Mart's common shares to Computershare Investor Services Inc. Mart is currently negotiating the terms and duration of the requested extension.

As previously announced, Mart will be holding a meeting of securityholders on Friday, September 25 in order to seek approval of its proposed Plan of Arrangement. Details regarding the results of the securityholder vote as well as an update on the status of a payment extension granted to the Purchaser are expected to be made following the securityholder meeting.

About Mart Resources:

Mart Resources Inc. is an independent, international petroleum company focused on drilling, developing and producing oil and gas from low-risk proven petroleum properties in Africa. The Company owns two drilling rigs, has strong local relationships and has formed joint venture partnerships with indigenous operators in Nigeria. Mart has acquired interests in and begun development of three onshore Nigerian oil fields.

Certain statements in this News Release may constitute forward-looking statements under applicable securities legislation including statements regarding the timing of the payment of the consideration of the Mart shares, the closing of the Arrangement and securityholder meeting. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mart to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels and timing of activity and achievements to differ materially from those expressed or implied by such information.

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 THE RELEASE.

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