June 29, 2011

Grant Of Stock Options

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.

For further information, please contact:

Christopher E. Ecclestone
Interim CEO

The TSX does not accept responsibility for the adequacy or accuracy of this release.