MMT Mart Resources

Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Corporation") takes this
opportunity to provide a Default Status Report in respect of the management
cease trade order ("MCTO") requested by the Corporation and issued by the
Alberta Securities Commission on May 1, 2009. The MCTO applies to the
Corporation's Chief Executive Officer and Chief Financial Officer and arises out
of Mart's inability to file its annual financial statements, management's
discussion and analysis and CEO and CFO certificates (collectively, the "2008
Annual Financial Statements") by the filing deadline of April 30, 2009 as
prescribed by National Instrument 51-102 - Continuous Disclosure Obligations.


Pursuant to the requirements of Section 4.4 of National Policy 12-203 -
Alternative Information Guidelines (the "Guidelines"), the Corporation reports
as follows:


1. There have been no material changes to the information contained in the
original default notice dated April 30, 2009 except that the Corporation has now
been able to secure much of the required critical information from Nigerian
third parties and accordingly, Mart's auditors are in the process of completing
the Corporation's audit. Mart expects to file its 2008 Annual Audited Financial
Statements on or before June 30, 2009.


2. There have been no failures with respect to the Corporation fulfilling its
stated intention of satisfying the requirements of the Guidelines.


3. There has not been, nor is there anticipated to be, any specified default
subsequent to the default which is the subject of the Default Notice.


4. There is no other material information about the affairs of the Corporation
that has not otherwise been reported.


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.


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


Certain statements in this Press Release may constitute forward-looking
statements under applicable securities legislation. 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. 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.

Mart Resources (TSXV:MMT)
Historical Stock Chart
From Jun 2024 to Jul 2024

Mart Resources (TSXV:MMT)
Historical Stock Chart
From Jul 2023 to Jul 2024