Mediterranean Resources Ltd.
TSX: MNR

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Mediterranean Resources

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Mediterranean Resources (TSX: MNR) (FRANKFURT: MHM1) (OTC: MNRUF) is an exploration and mining company with activities in Turkey and Albania.

The company is developing four projects located along its 12-km Red Mountain (Kızıldağ) Project in Northeastern Turkey. The projects consist of the Tac (gold/copper) deposit, the Corak (gold/zinc/lead) deposit, the Celtik (gold) exploration target and the Cevreli (gold/polymetallic) exploration target. To date, less than 20% of the 100 square kilometre Red Mountain (Kizildag) Project has received drill exploration.

Tac and Corak were the subject of an NI 43-101 resource statement prepared by SRK in 2009 and a Preliminary Assessment (also by SRK) prepared in September 2011. Current NI 43-101 compliant resource estimates for the Taç and Çorak projects (which are 4 kms apart) total 1.58 million ounces gold Indicated and 0.29 million ounces Inferred, as well as an Indicated resource of 64 million lbs of copper, 141 million lbs of Lead and 340 million lbs of Zinc. The company is currently considering its options to bring these deposits into production through open-pit mining.

The company is evolving a business line in Antimony in and around the Mediterranean basin, with initial efforts focussed in Turkey and Spain.

In Albania the company is actively seeking prospects with Gold/Copper, Chromite and PGEs. The company will be targeting properties that require low exploration effort and with a fast track to production.

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