How do I export materials and textures from cycles render?

Hi! I need to export materials and textures out of blender as .obj file, so how I get materials and textures export with it? .mtl file seems not to work or atleast if I import the same .obj file to blender, it doesnt load up textures / materials. Help?

Have you saved the image textures ?
Does the mtl file point to the location of the image textures ?

Save your blend file
Pack all textures in your blend (File / External Data menu)
Save your blend file
Unpack all your textures (File / External Data menu)
Save your blend file
Export to .obj.

The mtl file should now point to the location of your image textures.

Note that obj material exports work for the Blender Render materials

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So I have to use Blender render for textures and materials to export them? And does mtl file point to that location, if I give all the textures and .obj files to friend over internet?

So I have to use Blender render for textures and materials to export them
Yes

And does mtl file point to that location, if I give all the textures and .obj files to friend over internet?
Move the obj and textures to a new location on your computer and test for yourself