Mart Resources, Inc.
TSX VENTURE : MMT

Mart Resources, Inc.

June 12, 2008 09:00 ET

Mart Resources Announces Conversion of Convertible Notes

CALGARY, ALBERTA--(Marketwire - June 12, 2008) - Mart Resources, Inc. (TSX VENTURE:MMT) announces that RAB Octane (Master) Fund Limited and RAB Energy Fund Limited (collectively, "RAB") have converted $9,500,000 previously issued unsecured convertible promissory notes (the "unsecured notes") into 19,791,667 units ("unsecured units") at a conversion price of $0.48 per unsecured unit and $8,875,000 previously issued secured convertible promissory notes (the "secured notes") into 18,489,583 units ("secured units") at a conversion price of $0.48 per secured unit.

Each unsecured unit consists of one common share and one common share purchase warrant (the "unsecured warrant"). Each unsecured warrant is exercisable into one additional common share of Mart at an exercise price of $0.55 per common share expiring May 20, 2010. Each secured unit consists of one common share and one-half common share purchase warrant (the "secured warrant"). Each whole secured warrant is exercisable into one additional common share of Mart at an exercise price of $0.66 per common share expiring May 20, 2010. As a consequence of the foregoing, Mart has issued an aggregate of 38,281,250 common shares and 29,036,459 purchase warrants and has extinguished outstanding debt due under the notes of $18,375,000. Following the conversion of the secured notes and unsecured notes, Mart has an aggregate of 335,473,201 common shares issued and outstanding.

As a result of the conversion of the secured notes and unsecured notes, RAB has acquired 38,281,250 common shares representing approximately 11.4% of the common shares issued and outstanding and 29,036,459 purchase warrants.

Additional information regarding Mart Resources, Inc. is available on the company's website at www.martresources.com.

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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