Mediterranean Resources Ltd.

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Mediterranean Resources

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Mediterranean Resources (TSX: MNR) (FRANKFURT: MHM1) (OTC: MNRUF) is developing four projects located along the 12-km Red Mountain (Kızıldağ) Project near the city of Trabzon in Northeastern Turkey.

Current NI 43-101 compliant resource estimates for the Taç and Çorak projects (which are 8 km 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 new resource estimates in April 2009 by SRK Consulting demonstrate that both Çorak and Taç are amenable to open-pit mining with a reasonable assumption of economic viability. The company published a Preliminary Economic Assessment in September 2011. To date, less than 20% of the 100 square kilometre Red Mountain (Kizildag) Project has received drill exploration, and several targets remain to be addressed.

The mining regime in Turkey is very favorable with a strong industrial base for sourcing equipment and a skilled pool of geologists and seasoned mine personnel. Major players in Turkey include Inmet, Eldorado Gold, Alamos Gold, Teck and Alacer (formerly Anatolia Minerals).