MMT Mart Resources

Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Corporation") is pleased
to announce the results of its Annual and Special General Meeting of
Shareholders (the "Meeting") held on January 26, 2010 in Calgary, Alberta and to
provide an update regarding its ongoing Nigerian operations. At the Meeting, the
shareholders of the Corporation approved all resolutions put before them by
management, including the election of directors, appointment of the auditor, the
renewal of the Corporation's stock option plan, and the adoption of a
shareholder rights plan.


Election of the Board of Directors

At the Meeting, Mart's shareholders re-elected Wade G. Cherwayko and Leroy
Wolbaum as directors of the Corporation. In addition, the shareholders elected
Dallas L. Droppo, John R. Gorman and Derrick R. Armstrong to serve as directors
of the Corporation until Mart's next annual general meeting. A brief biography
of each of the newly elected directors is as follows: 


John R. Gorman

Mr. Gorman has over thirty years of experience in banking and natural resource
exploration. Commencing with a commercial banking career in oil and gas reserve
and asset-based lending, followed by a turnaround/restructuring management role,
Mr. Gorman then served eleven years as CFO and director of a private oil and gas
company with extensive holdings in offshore West Africa. Mr. Gorman presently
has an energy consulting practice in New York City, serves as Senior Energy
Advisor to Odin Advisors LLC, a boutique M&A group based in Manhattan, and is
the financial consultant to New York-based Taia, LLC and its affiliate Taia
Peace Foundation, both with primary operations in Sierra Leone. 


Derrick R. Armstrong

Mr. Armstrong has practiced corporate and securities law in Calgary, Alberta
continuously since 1980. He is currently senior counsel and Calgary Regional
Leader of the Securities and Capital Markets Group of Borden Ladner Gervais LLP,
a national law firm. Prior to that he founded and was the senior and managing
partner of Armstrong Perkins Hudson LLP. He is currently a director of CYGAM
Energy Inc., a public company listed on the TSX Venture Exchange with properties
in Tunisia and Italy and he was a director of Centurion Energy International
Inc. from 1997 to 2006 which operated in Tunisia and Egypt prior to it being
acquired by a Dubai Stock Exchange listed company. He has considerable
experience advising public companies active in North Africa. Mr. Armstrong also
sits on the boards of two private oil and gas companies and sits on the advisory
board of the TSX Venture Exchange.


Dallas L. Droppo, Q.C.

Mr. Droppo is a securities, energy and commercial lawyer with the national law
firm of Blake, Cassels & Graydon, LLP. He has acted for a number of Canadian
resource and service companies that have expanded internationally and for
foreign corporations acquiring or establishing businesses in Canada. He has
considerable experience in all aspects of securities-related transactions
including corporate governance and other securities law related matters. Prior
to practicing law, Mr. Droppo was a geologist.


The Corporation would also like to take this opportunity to thank each of Bill
Cherwayko, Bob Leslie, Walter Wakula and Michael Nobbs for their contributions
to the Corporation's development during their tenure as members of the board.
The board and management recognize Messrs. Cherwayko, Leslie, Wakula and Nobbs
for their support, significant time commitment, dedication and service, and wish
them all much success in their future endeavors.


Operations Update

Mart and its partners, Midwestern Oil & Gas Company PLC (Operator) and Suntrust
Oil Company Nigeria Limited, are pleased to announce that the majority of the
rental production equipment in use at the Umusadege oil field has been replaced
with permanent facilities. The main equipment replaced includes production
separation facilities, manifold, and interconnecting piping. The installation of
the permanent facilities will result in a net reduction of direct field
operating costs of approximately $2.60/barrel based upon average daily
production rates for January 2010. 


Average daily gross production for January 2010 was 3,935 barrels of oil per day
("bopd") from the UMU-1 and UMU-5 wells. Of the total production for this
period, the UMU-1 well (commingled XIIa and XIIb zones) contributed an average
of 1,710 bopd and UMU-5 well contributed an average of 2,225 bopd. 


With stable production and strong oil prices over the past several months, Mart
has been able to significantly reduce trade payables and continue to service its
bank debt in a current and timely manner. Due to continuing strong cash flows,
Mart and its partners are now in a position to continue with development
activities on the Umusadege field in the very near future.


Mart and its partners are currently finalizing development plans to increase
production and reserves from the Umusadege field in 2010. Planning is underway
for development drilling that is anticipated to commence in early Q2/10. It is
also anticipated that the two existing producing wells will be re-completed in
Q2/10 and Q3/10. 


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.


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


All references to production levels contained in this press release are to total
field production rates. A detailed description of Mart's ownership interest in
the Umusadege Field in contained in the Company's Management's Discussion and
Analysis filed on SEDAR at www.sedar.com.


Certain statements contained in this press release constitute "forward-looking
statements" as such term is used in applicable Canadian and US securities laws.
These statements relate to analyses and other information that are based upon
forecasts of future results, estimates of amounts not yet determinable and
assumptions of management. In particular, statements concerning the UMU-5 well
and Umu-1 wells and the ongoing development of the Umusadege and Qua Ibo fields
and events or projections referenced or implied herein should be viewed as
forward-looking statements. 


Any statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or are not statements of historical fact and should be viewed as
"forward-looking statements". Such forward looking statements involve known and
unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Corporation to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such risks and other factors
include, among others, costs and timing of exploration and production
development, availability of capital to fund exploration and production
development; political, social and other risks inherent in carrying on business
in a foreign jurisdiction, the effects of a recessionary economy and such other
business risks as discussed herein and other publicly filed disclosure
documents. Although the Corporation has attempted to identify important factors
that could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate as actual results and future events could vary or differ materially
from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements contained in this news release.


Forward-looking statements are made based on management's beliefs, estimates and
opinions on the date the statements are made and the Corporation undertakes no
obligation to update forward-looking statements and if these beliefs, estimates
and opinions or other circumstances should change, except as required by
applicable law.


This news release contains forward-looking statements based on assumptions,
uncertainties and management's best estimates of future events. When used
herein, words such as "intended" and similar expressions are intended to
identify forward-looking statements. Forward-looking statements are based on
assumptions by and information available to the Corporation. Investors are
cautioned that such forward-looking statements involve risks and uncertainties.
Actual results may differ materially from those currently anticipated. The
forward-looking statements contained herein are expressly qualified by this
cautionary statement.

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