Mart Resources, Inc.
TSX VENTURE : MMT

Mart Resources, Inc.

September 22, 2005 13:00 ET

Mart Resources, Inc. Announces Common Share Private Placement

CALGARY, ALBERTA--(CCNMatthews - Sept. 22, 2005) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart"), is pleased to announce that, subject to receipt of regulatory approval, it will be conducting a US dollar denominated private placement of up to 40,000,000 common shares at a price equivalent to $0.85 CDN per common share for aggregate gross proceeds before commissions and expenses of up to $34,000,000 CDN.

The proceeds of the private placement will be used for contracting of rigs and equipment for drilling and completion activities on Mart's Nigerian oil and gas fields, acquisition of seismic data for the fields, and design and construction of production facilities. In addition, the proceeds will be used for negotiation and acquisition of oil and gas exploration concessions in the Democratic Republic of Congo, continued evaluation and acquisition of interests in proven undeveloped oil and gas fields in Nigeria and other West African opportunities 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 does not accept responsibility for the adequacy or accuracy of this release.

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