TORONTO, ONTARIO--(Marketwire - March 2, 2012) - Further to its press release of February 16, 2012, Martina Minerals Corp. (the "Company") (TSX VENTURE:MTN) is pleased to announce that the TSX Venture Exchange has approved the terms of a shares-for-debt transaction involving certain of the Company's third party creditors.

Martina has agreed to issue a total of 3,266,666 shares and 2,666,666 warrants in settlement of an aggregate of $254,370 of outstanding debt owing in respect of legal, book-keeping and administrative services rendered to the Company. Each warrant will be exercisable into one common share for a period of 24 months from the date of issue at an exercise price of $0.10. All securities will be subject to a statutory four-month hold period.

The debt settlement will enable the Company to invest more of its available cash resources in mineral exploration and development initiatives in the Philippines.

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