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 |   Thu May 3, 2007
Mediterranean Announces Services Agreement With Dama Engineering To Implement The Exploration Program In Turkey
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| | Vancouver, B.C., May 3, 2007 -- Mediterranean Resources Ltd. (TSX-V: MNR, Frankfurt: MHM1) (the "Company") today reported that it has entered into a Services Agreement with a Turkish engineering firm, DAMA Muhendislik A.S. ("DAMA") under which the Company will continue with the comprehensive exploration program announced April 5, 2007 being performed on its Tac and Corak gold properties located in the province of Artvin, Turkey.
While the Company will be the operator and manager of the exploration programs, it has engaged DAMA under the Services Agreement to provide certain contract services whereby DAMA's Turkish based technical team will be utilized to implement the exploration programs and assist in the area of community relations.
"This agreement enables the Company to continue accessing invaluable Turkish expertise and experience through Dama Engineering that can be brought to bear on the Tac and Corak gold properties", said Dr. Peter J. Guest, President and CEO of Mediterranean.
About Mediterranean Resources Ltd.
Mediterranean Resources Ltd. acquires and develops advanced stage mineral properties of demonstrated potential. Currently Mediterranean is actively working on its two 100% owned gold properties in Turkey, that saw more than US$4 million of development by a major international mining company during the 1990's.
During 2006, Mediterranean outlined at the Tac Property a NI 43-101 compliant Indicated Resource of 773,313 ozs of gold and 34,220,429 lbs of copper on a uncapped basis with average grades of 2.01 g/t gold and 0.13% copper at a 1.0 g/t gold cut-off. During 2007, Mediterranean will continue drilling the Tac Property with a goal of increasing these resources; and will also drill the Corak Property with the goal of completing a NI 43-101 compliant resource. Please visit www.medresources.ca for additional information.
For further information please contact:
Peter J. Guest
President & CEO
604-669-3397
www.medresources.ca
OR
Jag S. Sandhu
VP Corporate Development
604-306-1950
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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