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Vancouver, B.C., October 9, 2007 - Mediterranean Resources Ltd. (TSX-V: MNR, Frankfurt: MHM1) (the "Company") today announced drill hole results substantiating the presence of a potential resource along an 800 metre mineralized trend including the South and Village Zones of the Corak gold property held by the Company in northeastern Turkey.
High grade gold values and significant base metal values were returned from five reverse circulation drill holes drilled to an average depth of 175 metres in the area adjoining both the South and Village Zones. These include 2.03 g/t Au over 18 metres including a one metre interval grading 16.0 g/t Au (C-127), 9.28 g/t Au over 4 metres (C-124), 13.05 g/t Au over one metre (C-101), 34.94 g/t Au over 2 metres (C-106) and 3.25 g/t Au over 3 metres (C-103). All these drill holes returned intervals of sulphide mineralization over the core lengths with grades up to 2.5 % Pb and 8.0 % Zn (C-101). The presence and continuity of a near surface potential gold and base metal resource over approximately 800 metres is confirmed when these results are combined with the drill hole assay results reported earlier this year for these zones.
The historic resource potential at Corak, surmised from exploration drilling in the South and Village Zones and soil sampling completed by a major mining company in the early 1990s, which predates and is non-compliant with NI 43-101, is 1.8 million tonnes averaging 10 g/t gold. As a qualified person has not performed sufficient work to classify the historical estimate as current mineral resources, the Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
Refer to the table below for detailed results and http://www.medresources.ca/s/Maps.asp for a map of the Corak project area showing the mineralized zones and drill hole locations.
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C-101
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From (m)
|
To
(m)
|
Interval (m)
|
Au (g/t)
|
Ag (g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
|
|
12.0
|
13.0
|
1.0
|
13.05
|
5.90
|
0.01
|
1.02
|
8.00
|
|
and
|
25.0
|
27.0
|
2.0
|
0.41
|
2.30
|
532
|
0.27
|
2.39
|
|
and
|
31.0
|
33.0
|
2.0
|
1.14
|
0.40
|
-
|
0.04
|
0.12
|
|
and
|
153.0
|
154.0
|
1.0
|
0.07
|
4.40
|
0.03
|
0.80
|
3.92
|
|
and
|
178.0
|
179.0
|
1.0
|
0.36
|
8.80
|
0.29
|
2.54
|
6.12
|
|
|
|
|
|
|
|
|
|
|
|
C-103
|
From (m)
|
To
(m)
|
Interval (m)
|
Au (g/t)
|
Ag (g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
|
|
51.0
|
54.0
|
3.0
|
1.09
|
2.10
|
0.05
|
0.49
|
1.53
|
|
and
|
85.0
|
88.0
|
3.0
|
3.25
|
4.40
|
0.01
|
0.14
|
0.34
|
|
|
|
|
|
|
|
|
|
|
|
C-106
|
From (m)
|
To
(m)
|
Interval (m)
|
Au (g/t)
|
Ag (g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
|
|
89.0
|
91.0
|
2.0
|
34.93
|
9.50
|
0.21
|
0.28
|
1.22
|
|
and
|
98.0
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105.0
|
7.0
|
0.55
|
0.23
|
-
|
0.02
|
0.05
|
|
and
|
127.0
|
136.0
|
9.0
|
0.54
|
0.69
|
0.02
|
0.06
|
0.14
|
|
|
|
|
|
|
|
|
|
|
|
C-124
|
From (m)
|
To
(m)
|
Interval (m)
|
Au (g/t)
|
Ag (g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
|
|
0.0
|
2.0
|
2.0
|
1.06
|
9.30
|
0.06
|
1.51
|
0.05
|
|
and
|
4.0
|
5.0
|
1.0
|
0.02
|
0.60
|
-
|
0.02
|
1.49
|
|
and
|
8.0
|
12.0
|
4.0
|
9.28
|
9.68
|
0.02
|
1.67
|
0.15
|
|
and
|
32.0
|
33.0
|
1.0
|
4.14
|
0.20
|
-
|
0.05
|
0.08
|
|
and
|
57.0
|
61.0
|
4.0
|
0.17
|
3.60
|
0.06
|
0.61
|
1.56
|
|
and
|
90.0
|
96.0
|
6.0
|
0.13
|
2.52
|
0.14
|
0.22
|
1.09
|
|
and
|
103.0
|
105.0
|
2.0
|
0.11
|
2.85
|
0.10
|
0.23
|
1.23
|
|
and
|
135.0
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149.0
|
14.0
|
0.68
|
0.55
|
-
|
0.06
|
0.20
|
|
and
|
190.0
|
191.0
|
1.0
|
1.00
|
0.90
|
0.01
|
0.15
|
0.33
|
|
|
|
|
|
|
|
|
|
|
|
C-127
|
From (m)
|
To
(m)
|
Interval (m)
|
Au (g/t)
|
Ag (g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
|
|
3.0
|
4.0
|
1.0
|
0.42
|
14.80
|
0.08
|
1.44
|
-
|
|
and
|
23.0
|
25.0
|
2.0
|
1.37
|
16.25
|
0.02
|
0.26
|
0.02
|
|
and
|
35.0
|
41.0
|
6.0
|
0.81
|
8.75
|
0.34
|
1.60
|
2.91
|
|
and
|
52.0
|
70.0
|
18.0
|
2.03
|
3.47
|
0.12
|
0.43
|
1.00
|
|
inc
|
52.0
|
55.0
|
3.0
|
1.89
|
11.77
|
0.48
|
0.97
|
2.21
|
|
inc
|
68.0
|
69.0
|
1.0
|
16.00
|
4.80
|
0.12
|
0.37
|
0.60
|
|
and
|
89.0
|
90.0
|
1.0
|
0.82
|
4.90
|
0.14
|
1.37
|
2.80
|
|
and
|
97.0
|
99.0
|
2.0
|
0.84
|
4.55
|
0.14
|
1.12
|
2.27
|
|
and
|
117.0
|
118.0
|
1.0
|
0.94
|
1.50
|
0.05
|
0.29
|
1.17
|
A diamond drill rig and a reverse circulation rig continue to operate at site. Approximately 14,600 metres of drilling has been completed at Corak of the expanded 20,000 metre drill campaign planned. Assay results, which are taking approximately eight weeks to be received from the time holes are drilled and logged, are being released as they become available. The drill campaign is expected to be completed by the end of November, 2007 and a NI 43-101 compliant resource estimate completed by March 31, 2008.
Dr. Peter Guest is the qualified person who has reviewed the data indicated in this news release. The ALS Chemex Vancouver laboratory is using standard fire assay and atomic absorption methods in performing all gold and multi-element analyses. True widths of the narrow high grade veins reported are indeterminable at this stage.
About Mediterranean Resources
Mediterranean Resources Ltd. (the "Company") acquires and develops advanced stage mineral properties of demonstrated potential. Currently the Company is actively working on its two 100% owned properties in Turkey, Tac and Corak, that lie along a common mineralized trend with Corak approximately 8 kilometres to the southwest of Tac. These properties experienced more than US$4 million of exploration by a major international mining company during the early 1990's and US$3.1 million of exploration by the Company in 2006 which led to the Company acquiring an undivided interest in them. The Company has also initiated ground exploration at Cevreli, approximately two kilometres to the southwest of Tac along the common mineralized trend linking Tac and Corak. The purpose of this is to identify drill targets for 2008 and open up a third area of exploration along the 11 kilometre trend.
During 2006, the Company 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 an uncapped basis with average grades of 2.01 g/t gold and 0.13% copper at a 1.0 g/t gold cut-off. The Company is conducting a 10,000 metre drill program at Tac with the goal of updating the compliant resource estimate by the first quarter, 2008. The Company is also carrying out a 20,000 metre drill campaign at Corak with the goal of completing a NI 43-101 compliant resource estimate also by the end of the first quarter, 2008. Please visit www.medresources.ca for additional information.
For further information please contact:
Dr. Peter J. Guest
President & CEO
604-669-3397
Jag S. Sandhu
VP Corporate Development
604-306-1950
www.medresources.ca
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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