Mart Resources Announces Major Change In Structure and Direction of Company.

CALGARY, ALBERTA--(BUSINESS WIRE)--SEPTEMBER 17, 1996-- MART RESOURCES, INC. (Alberta Stock Exchange: MMT) Mart Resources, Inc. ("Mart") is pleased to announce a major change in the structure and direction of the company through the purchase of all of the shares of 704922 Alberta Ltd. from Young West Oil and Gas Ltd. ("YWOG") and the completion of a private placement of 3,000,000 Units for gross proceeds of $1,500,000. Each Unit consists of one common share of Mart and one share purchase warrant exercisable at $0.65 per share on or before September 16, 1997.

Through this purchase from YWOG, Mart has acquired a 40 percent participation interest in two permits on the Tsuu T'Ina Indian Reserve just west of Calgary. It is Mart's intention to immediately commence the completion and testing of the YWOG et al Sarcee HZ 9-1-23-4 W5 well located on the acquired land. This well, which was drilled and cased earlier in the year by YWOG and its partners Dynamic Ventures Ltd., Dalton Resources Ltd. and Neutrino Resources Inc. on a large seismically controlled structure, encountered 171 net feet of potential pay in the Crossfield member of the Devonian Wabamun formation. In addition, Mart will continue with on-going exploration of other high potential prospects on the reserve.

This move by Mart into exploration plays in the Alberta foothills represents the company's initial step in its plan to pursue such high potential opportunities both domestically and internationally. In support of this corporate redirection, Mart has appointed three new directors, John T. Young, William Cherwayko and Robert J. Leslie. Dr. Leslie has also been appointed President and Chief Executive Officer of Mart.

These three veteran oilmen bring to Mart a broad range of experience and expertise. Mr. Young has over 45 years of experience in all aspects of the oil and gas industry, the last 25 years as president of his own private company that has explored for, developed and operated over 300 gas and oil wells across western Canada. Mr. Cherwayko has over 40 years of experience in various operating and management positions in the oil and gas industry both domestic and international. Dr. Leslie has 34 years of industry experience including positions as vice-president of exploration for Wainoco Oil Corporation and President and CEO of BlueSky Oil & Gas Ltd., Texas General Resources Ltd. and Red Oak Resources Inc., all public oil and gas companies. Dr. Leslie has also been active in the oil and gas industry in Canada and the U.S. through his private company, Leslie Resources Ltd.

Pursuant to the acquisition of 704922 Alberta Ltd., Mart has paid $1,000,000 cash, the majority of which has been applied toward drilling expenditures incurred by YWOG, and has issued 3,000,000 common shares to YWOG, a company whose voting shares are controlled by John T. Young, of Calgary, Alberta. By virtue of the acquisition, John T. Young will control an aggregate of 3,000,000 common shares, representing approximately 26 percent of the issued and outstanding common shares, of Mart. Mr. Young intends to sell 1,000,000 common shares which he has acquired in this transaction, to Wadeco Inc., a company owned by Wade G. Cherwayko pursuant to statutory exemptions. Mr. Cherwayko currently owns 1,600,000 common shares of Mart (after acquiring 800,000 Units pursuant to the private placement) representing approximately 14 percent of the issued and outstanding shares of Mart. In addition to the 1,000,000 shares which Mr. Cherwayko is acquiring from Mr. Young, Mr. Cherwayko intends to acquire an additional 1,333,334 common shares of Mart, subject to regulatory approval, pursuant to private agreements with the existing directors of Mart who hold the escrowed shares issued prior to Mart conducting its initial public offering. After the acquisition of those shares Mr. Cherwayko will own 3,933,334 common shares of Mart, representing approximately 35 percent of the total issued and outstanding common shares.

THE ALBERTA STOCK EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE INFORMATION CONTAINED HEREIN.

CONTACT: Mart Resources, Inc.

Robert Leslie

President

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