Mediterranean Resources Ltd. News

Mediterranean Resources Announces Discovery Of Two New Mineralized Areas

Tue, 03 Jan 2012 06:59:27 -0600

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean" or the "Company") is pleased to announce the discovery of two new areas of gold-copper mineralization in previously unexplored sections of its extensive Red Mountain project in Artvin province in northeastern Turkey.

Mediterranean Resources Announces $1.5 Million Private Placement

Wed, 07 Dec 2011 06:54:20 -0600

Vancouver, B.C., - Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) (“Mediterranean” or the “Company”) announces a private placement to raise up to $1,500,850 through the distribution of up to 11,545,000 units at $0.13 per unit. Each unit will consist of one common share and one warrant (each warrant exercisable at $0.25 per share for 24 months following the closing date). The securities to be issued under the financing will be subject to a four month hold period.

Mediterranean Resources Signs Letter Of Intent With Turkish Group To Sell A 20% Stake In Its Turkish Project And Advance EIA

Mon, 05 Dec 2011 06:50:02 -0600

Vancouver, B.C., - Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) (‘’Mediterranean’’) wishes to advise that it has entered into a Letter of Intent with Lovet Tekstil Gida Turizm Org Ins. Sanayi ve Dis Ticaret A.S. (“Lovet”), a private Turkish company, whereby Lovet may purchase a 20% interest in Mediterranean’s Red Mountain (Kizildag) Project in north eastern Turkey. The Red Mountain Project includes the Tac and Corak associated licenses, but does not include the Company’s Celtik project. Lovet is a construction company based in Istanbul. It belongs to a larger economic grouping that includes interests in oil & gas exploration, textiles, hotels and property development.

Drilling campaign commences at Tac and Corak

Mon, 24 Oct 2011 07:01:15 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") is pleased to announce that it's drilling contractor Ortadoğu Sondaj has commenced drilling this past weekend, the previously announced campaign on the Tac and Corak deposits of its Red Mountain (Kizildag) project.

Mediterranean announces a Board change

Fri, 28 Oct 2011 07:00:34 -0500

Vancouver, B.C., October 28, 2011 - Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) (“Mediterranean”) announces that Mr. Jeffrey Nichols has resigned as a Director of the Company effective today. Mr. Ecclestone, on behalf of the Board, expresses his sincere thanks to Mr. Nichols for his loyal support and service to Mediterranean.

Mediterranean Announces Appointment of New Director

Mon, 31 Oct 2011 07:00:21 -0500

VANCOUVER , Oct. 31, 2011 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") announces that the Board of Directors of the Company has appointed Alex Gostevskikh as a Director of the Company.

Mediterranean Resources Announces Appointment Of Investor Relations Advisor

Mon, 26 Sep 2011 17:42:15 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") is pleased to announce that it has signed an agreement with JNS Capital Corp. ("JNS") to represent the company to institutional and retail investors.

President of JNS, Jag Sandhu, has rejoined Mediterranean and will be responsible for assisting Mediterranean in expanding the company's investor relations and corporate communications activities.

Mediterranean Resources Signs Drilling Contract And Applies For Mining Licenses

Thu, 08 Sep 2011 07:40:35 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean" or the “Company”) is pleased to announce that it has signed a drilling contract with Ortadoğu Sondaj San. Ve Tic. Ltd. for Mediterranean's previously announced drilling campaign on the Taç and Çorak deposits. It is expected that the drill campaign shall commence through October.

Mediterranean - Çorak and Taç Gold/Base Metals Project Positive Preliminary Assessment On Development Of Mine And Mill

Tue, 23 Aug 2011 07:39:50 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean" or the "Company") has filed on SEDAR the final report for its Preliminary Assessment ("PA") study on the development of the Çorak and Taç deposits at its Yusufeli project in North-eastern Turkey. This study (which is compliant with National Instrument 43-101 and can be accessed in full at www.sedar.com), has been prepared by SRK Consulting (Canada) Inc. ("SRK") of Vancouver, British Columbia. The Company had previously announced the initial release of key details from this study on June 14th 2011, which is accessible at: www.medresources.ca/news/2011/june14/

Mediterranean Resources Comments On Hydroelectric Development In Its Region In Turkey

Fri, 19 Aug 2011 07:39:28 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1 ) ("Mediterranean") wishes to comment upon the evolution of various hydroelectric projects in the part of north-east Turkey where Mediterranean's Yusufeli project is located.

Grant of Stock Options

Wed, 29 Jun 2011 17:20:25 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1 )(the "Company") advises that it has granted the following: (i) an aggregate of 1,900,000 incentive stock options to its directors, officers and employees exercisable at $0.15 per share for a period of five years, vesting immediately; and (ii) 200,000 stock options to certain consultants exercisable at $0.15 per share for a period of three years, vesting immediately. This will bring the total number of options outstanding to 5,360,000 (representing under 10% of the Company's issued and outstanding common shares pursuant to the Company's stock option plan).

Mediterranean Resources is focused on an emerging mineral region in north‐eastern Turkey where it is developing two advanced exploration stage gold properties.

Mediterranean Resources Announces Drill Campaign on its Çorak and Taç Deposits

Wed, 15 Jun 2011 11:32:23 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean" or the "Company") is pleased to announce that it has formulated a drilling campaign for its Çorak and Taç deposits over the summer months. These deposits were previously the subject of a NI43-101 Technical Report (the results of which are shown below) in May 2008.

Mediterranean Resources Announces Warrant Exercise

Tue, 14 Jun 2011 11:03:37 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1)(TSX: MNR; Frankfurt: MHM1) ("Mediterranean" or the “Company”) announces that it has been advised that holders of 5.26 million warrants in the Company have today exercised these warrants at an exercise price of 14 cents per warrant for total proceeds of $736,400.

Mediterranean - Çorak and Taç Gold / Base Metals Project Positive Preliminary Assessment on Development of Mine and Mill

Tue, 14 Jun 2011 06:50:00 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean" or the "Company") has undertaken a Preliminary Assessment ("PA") study on the development of the Çorak and Taç deposits at its Yusufeli project in North-eastern Turkey. This study has been prepared by SRK Consulting (Canada) Inc. ("SRK") of Vancouver, British Columbia.

Mediterranean Resources Announces Rescheduling of its Annual General and Special Meeting

Fri, 20 May 2011 06:53:26 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") wishes to announce that it is rescheduling its Annual General and Special Meeting from the previously announced date of May 31, 2011 to June 29, 2011.

This change is being effected to enable the presentation to and discussion by, shareholders of the results of the company's upcoming Preliminary Assessment on its Yusufeli projects, currently being prepared by SRK.

Mediterranean Resources Announces Drill Campaign On Its Çeltik Deposit

Wed, 04 May 2011 07:08:33 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") is pleased to announce that it has formulated an expanded drilling campaign for its Celtik deposit over the summer months. The Çeltik Project is located at the Eastern end of MNR's 12 kilometer mineralized trend. This property has been the subject of previous drilling efforts in 2008 (seven holes) and late 2009 (five holes) that have sustained promising results. The new campaign will consist of 13 holes (with the targets shown in blue on the map below). The proposed drill campaign is divided into two stages:

First stage of drilling includes P1, P2, P3, P4, P5, P6, and P7 drill holes.

Second stage includes P8, P9, P10, P11, P12 and P13 drill holes.

When the P1, P2, P3 and P4 drill holes are completed, Mediterranean will have a visual observation for the mineralization corridor. The first seven holes of stage 1 are firm and the next six holes are conditional on results of first seven. If warranted by the results of these first 13 holes, a further 12 holes (making a total of 25 holes) will be proposed to complete the initial Çeltik evaluation.

Mediterranean Announces Response To Lawsuit Filed By Former CEO

Tue, 26 Apr 2011 09:25:58 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") announces that the Company has filed a Response and Counterclaim on April 21, 2011 to the Notice of Civil Claim filed against Mediterranean by its former CEO and President, Dr. Peter Guest, on March 28, 2011, in the Supreme Court of British Columbia. As noted in the Company's news release of March 31, 2011, Dr. Guest's employment agreement with the Company was terminated for cause on March 15, 2011, and he voluntarily resigned as a Director of the Company on March 17, 2011.

It is Mediterranean's position that Dr. Guest's claims against the Company have no merit or foundation and the Company intends to fully defend itself in this matter.

News Release

Thu, 13 Jan 2011 09:25:55 -0600

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") announces the appointment of Christopher E. Ecclestone as a Director, effective today.

Mediterranean Announces an Update to Shareholders

Thu, 20 Jan 2011 09:25:25 -0600

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") announces an update to shareholders.

Mediterranean Announces Receipt of Requisition For Special Meeting

Tue, 25 Jan 2011 09:24:58 -0600

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") acknowledges it has received a requisition from three shareholders of the Company, namely Philip Strathy, an ex-director, 2013072 Ontario Inc., and Frank Lucas, a principal of Loeb Aron, to call a special meeting of shareholders, which the Company has determined will be held on May 20, 2011.

Mediterranean Appoints Jeffrey Nichols as Company Director

Thu, 27 Jan 2011 09:24:28 -0600

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") is pleased to announce the appointment of Jeffrey Nichols as a Director, effective today.

Mediterranean Resources Announces $1.5 Million Offering

Wed, 02 Feb 2011 09:24:00 -0600

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean" or the "Company") announces a private placement to raise $1,500,000 through the distribution of 15,000,000 units at $0.10 per unit. Each unit will consist of one common share and one-half of one warrant (each whole warrant exercisable at $0.14 per share for 12 months following the closing date).

Mediterranean Resources Announces Resumption of Preliminary Assessment and Conversion of Three Exploration Licenses to Operating Licenses

Mon, 14 Feb 2011 09:23:27 -0600

Vancouver, B.C., Following the successful private placement that raised $1.5 million, Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean" or the "Company") announces that it has retained SRK Consulting (Canada) Inc. ("SRK") to complete the preparation of the Preliminary Assessment ("PA"), once known as Preliminary Economic Assessment, on the Yusufeli gold and base metal project located in North-East Turkey. The Company also announces that applications have been made to convert three exploration licenses covering approximately 2,500 hectares adjacent to the Tac, Corak and Celtik project areas to operating licenses. In this regard, technical reports have been submitted to the Turkish government's Mining Bureau; and approval to the conversions is expected in the coming months.

Mediterranean Announces Senior Management and Board Changes

Wed, 16 Mar 2011 10:22:59 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") announces that Peter Guest is no longer acting as President and Chief Executive Officer of the Company effective March 15, 2011.

Mediterranean Announces Senior Management and Board Changes

Mon, 21 Mar 2011 10:22:23 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean" or the "Company") announces that Christopher Ecclestone has been appointed as Interim Chief Executive Officer of the Company, pending the engagement of a permanent CEO.

Mediterranean Announces Election of New Director

Fri, 25 Mar 2011 10:20:59 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") announces that the Board of the Company has elected Dr. Kerim Sener as a Director of the Company.

Dr. Sener is the Managing Director of AIM-listed and Turkey focused gold exploration company, Ariana Resources PLC (AIM:AAU). He graduated from the University of Southampton with a first-class BSc (Hons) degree in Geology in 1997 and from the Royal School of Mines, Imperial College, with an MSc in Mineral Exploration in 1998. After working for Independence Gold Mining Pvt. Ltd. (Lonmin Zimbabwe) he completed a PhD at the University of Western Australia, during which time he was also involved in several exploration projects in the Northern Territory and Western Australia. In 2002 he established Ariana Resources and acted as its Exploration Director between 2004 and 2006, becoming its Managing Director in 2007. As a Turkish national, he completed his military service obligations in Turkey in 2009. He is currently based in Izmir, Turkey.

Mediterranean Management Update - Withdrawal of Request for Special Meeting of The Shareholders

Thu, 31 Mar 2011 10:21:24 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") announces that the Special Meeting of the Shareholders scheduled for the 20th of May has been cancelled.

Mediterranean Management Update

Thu, 31 Mar 2011 10:17:53 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") wishes to provide an update on its activities.

As previously announced, the EGM called by concerned shareholders has been cancelled in recognition of changes made to the Company's Board and management structure. Since the 15th of March the Board has instituted an interim management team and set to put the Company's house in order and address the shortcomings highlighted by the shareholders as well as long-held concerns in the marketplace.

Mediterranean Announces Election Of New Director

Mon, 04 Apr 2011 09:36:23 -0500

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") announces that the Board of the Company has elected John Shanahan as a Director of the Company.