Mart Resources, Inc.
TSX VENTURE : MMT

Mart Resources, Inc.

September 20, 2007 07:41 ET

Mart Resources, Inc. Closes Common Share Private Placement

CALGARY, ALBERTA--(Marketwire - Sept. 20, 2007) - Mart Resources, Inc. (TSX VENTURE:MMT) announces that it has completed a first closing of its previously announced 80,000,000 share private placement. The first closing consisted of 59,557,375 shares at a price of $0.40 per share for aggregate proceeds of $23,822,950. The common shares are subject to a four month statutory restriction on trading from the date of issue. Mart expects to complete additional closings of this private placement in the near term.

As previously announced, the proceeds of the private placement will be 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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