Mart Resources Inc MAUXF

Management Cease Trade Order

[paintedpig]

Mart Resources, Inc., Announces ASC Management Cease Trade Order






CALGARY,ALBERTA--(Marketwire - May 3, 2011) - Mart Resources, Inc. (TSXVENTURE:MMT) ("Mart" or the "Company") announces that further to itspress release of May 2, 2011, as a result of a delay in the filing ofits 2010 annual financial statements, management's discussion andanalysis and CEO and CFO certificates (collectively, the "2010 AnnualFinancial Statements"), the Alberta Securities Commission (the "ASC") inaccordance with its guidelines, has issued a management cease tradeorder that prohibits, effective immediately, all trading of thesecurities of the Company by Wade G. Cherwayko, Chairman and ChiefExecutive Officer and Angela Clark, Chief Financial Officer. Themanagement cease trade order will remain in place until two fullbusiness days following receipt by the ASC of the 2010 Annual FinancialStatements. The Company is working to complete its 2010 Annual FinancialStatements at the earliest possible date and expect to file the 2010Annual Financial Statements by May 31, 2011.


UntilMart completes the filing of the 2010 Annual Financial Statements, Martwill comply with the alternative information guidelines set out inNational Policy 12-203 - Cease Trade Orders for Continuous DisclosureDefaults for issuers who have failed to comply with a specifiedcontinuous disclosure requirement within the times prescribed byapplicable securities laws. The guidelines, among other things, requireMart to issue bi-weekly default status reports by way of a news releaseso long as the 2010 Annual Financial Statements have not been filed.



About Mart Resources:



MartResources Inc. is an independent, international petroleum companyfocused on drilling, developing and producing oil and gas from provenpetroleum properties in Nigeria, West Africa. The Company is currentlyproducing and developing the Umusadege field along with Midwestern Oiland Gas Co. Plc (the Operator of the field) and SunTrust Oil CompanyLtd. Mart also owns two land drilling rigs, has strong localrelationships and experience and is evaluating additional provenundeveloped opportunities in Nigeria.


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



Forward Looking Statements




Certain statements contained in this press releaseconstitute "forward-looking statements" as such term is used inapplicable Canadian and US securities laws. Any statements that expressor involve discussions with respect to predictions, expectations,beliefs, plans, projections, objectives, assumptions or future events orare not statements of historical fact and should be viewed as"forward-looking statements". These statements relate to analyses andother information that are based upon forecasts of future results,estimates of amounts not yet determinable and assumptions of management.Such forward looking statements involve known and unknown risks,uncertainties and other factors which may cause the actual results,performance or achievements of the Company to be materially differentfrom any future results, performance or achievements expressed orimplied by such forward-looking statements.




There can be no assurance that such forward-lookingstatements will prove to be accurate as actual results and future eventscould vary or differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking statements contained in this news release. Theforward-looking statements contained herein are expressly qualified bythis cautionary statement.




Forward-looking statements are made based onmanagement's beliefs, estimates and opinions on the date the statementsare made and the Company undertakes no obligation to updateforward-looking statements and if these beliefs, estimates and opinionsor other circumstances should change, except as required by applicablelaw.





FOR FURTHER INFORMATION PLEASE CONTACT: Wade Cherwayko
Mart Resources, Inc.
CEO
[e-mail]
ORAngela Clark
Mart Resources, Inc. - London, England office
CFO
[phone]
[e-mail]