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 |   Wed Nov 8, 2006
Mediterranean Announces Further Drill Results At TAC - Suggest Widening Of "Gold Corridor"-
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| | Vancouver, B.C., November 8, 2006 - Mediterranean Resources Ltd. (TSX-V: MNR) (the "Company") today announced significant drill results from both the T-6 and Karsibayir mineralized zones and additional drill results that confirm the presence of mineralization at both the Kirmizitepe and Ugur zones on the Tac gold property held under option from Teck Cominco Limited's Turkish subsidiary (TCAM).
Among the highlights of the drill results is a reverse circulation drill hole at Karsibayir, T-86, drilled to a depth of 194 metres that intersected a near surface interval of 80 metres grading 3.13 g/t Au including 20.38 g/t Au over 9 metres, 51.80 g/t Au over one metre and 123.00 g/t Au over one metre confirming significant mineralization in this zone. This result has reinforced the existence and enhanced the continuity of a significant potential resource located along the one kilometre long mineralized T-6 and Karsibayir zones within the 300 metre wide "gold corridor".
Additional highlights of this program are diamond drill holes at Kirmizitepe, TD-72 and TD-81, drilled at 1070 metres ASL and 1010 metres ASL respectively to average depths of 278 metres that have clearly indicated the potential of significant mineralization in this zone. Kirmizitepe is approximately one and a half kilometres to the southwest of the Sezai Ridge zone (850 metres ASL) and T-6 and Karsibayir zones (from 700 metres to 950 metres ASL) along the "gold corridor". The continued exploration of Kirmizitepe will take place in 2007.
Peter Guest, Mediterranean President & CEO said, "These results demonstrate the potential of significantly widening the "gold corridor" to the north of Karsibayir to include the recently outlined new zones of Ugur and Kiziltepe. Our 2006 drilling campaign is close to a successful conclusion. We have gained abundant evidence to support our new resource calculation to appear early in 2007 and we have also discovered additional zones of mineralization that will be the focus of our 2007 drilling campaign."
Please see the table below for detailed results and use the following http://www.medresources.ca/s/Maps.asp for a map of the Tac project area showing the mineralized gold zones and drill hole locations.
Hole No. Zone From To Interval Au
(m) (m) (m) (g/t)
T-86 Karsibayir 26 106 80 3.13
Including 33 36 3 4.79
Including 76 85 9 20.38
Including 77 78 1 51.80
Including 83 84 1 123.00
Including 103 106 3 7.29
T-92 Karsibayir 19 21 2 2.05
And 83 85 2 1.09
And 96 97 1 2.59
And 180 181 1 1.08
T-85 T-6 Valley 80 137 57 1.30
Including 98 114 16 1.80
Including 98 107 9 2.45
Including 130 137 7 4.35
Including 134 135 1 21.30
TD-69 Ugur Zone 147.1 156.3 9.2 0.81
Including 147.1 153.8 6.7 1.01
Including 147.1 148.5 1.4 2.95
Including 150.3 150.5 0.2 6.11
And 208.9 209.6 0.7 1.28
And 220.7 221.2 0.5 4.82
TD-73 Ugur Zone 82.1 82.4 0.3 48.2
And 254.8 255.1 0.3 8.72
TD-77 Kiziltepe 87.1 88.9 1.8 1.82
TD-72 Kirmizitepe 188.9 197.3 8.4 1.03
Including 190.1 192.2 2.1 3.31
Including 190.1 190.4 0.3 7.59
TD-81 Kirmizitepe 236.1 236.8 0.7 5.14
Approximately 13,800 metres of an extended 14,500 metre drill campaign have been completed at Tac with the remaining drilling for 2006, which is concentrated in the Ugur zone, expected to be completed by mid November.
A geologic model of the mineralized zones contained within the "gold corridor" will be developed and used for a NI 43-101 compliant resource estimate which will be completed in early 2007 once all remaining assay data become available. All of the available data from the resource estimate, metallurgical testing and input from an ongoing environmental baseline study will be integrated into a preliminary assessment or "economic scoping study" to be initiated in early 2007.
Dr. Peter Guest is the qualified person who has reviewed the data in this news release.
About Mediterranean Resources
Mediterranean Resources is focused on an emerging mineral region of Turkey, where it is developing two advanced exploration stage gold properties, Tac and Corak, which are held under option from Teck Cominco Limited's Turkish subsidiary (TCAM). The Company suggests that the resource potential which predates and is noncompliant with NI 43-101, surmised from historical exploration drilling and soil sampling completed by TCAM in the early 1990s in the T-6 mineralized zone, is 5 million tonnes grading 3 to 4 g/t gold at Tac and 1.8 million tonnes averaging 10 g/t gold at Corak. For a complete description of the Company's option to acquire the Tac and Corak properties, historical work done on the properties, and risks applicable to the Company and its operations in Turkey, please refer to the Company's filing statement dated February 24, 2006 and the technical reports on the properties dated November 20, 2005, all as filed on SEDAR.
Estimates of gold resources are historical in nature, predate and are noncompliant with NI 43-101. Mediterranean is not treating the historical estimates as current mineral resources or reserves. Mediterranean has not undertaken any independent investigation of the resource estimates nor has it independently analyzed the results of the previous exploration work in order to verify the resources, and therefore the historical estimates should not be relied upon. However, Mediterranean believes that these historical estimates provide a conceptual indication of the potential of the occurrences and are relevant to ongoing exploration.
For further information please contact:
Peter J. Guest
President & CEO
604-669-3397
www.medresources.ca
Andreas Curkovic
The Equicom Group
416-815-0700 x262 or
1-800-385-5451 x262
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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