May 30, 2014

Mediterranean Resources Ltd. Files Its Annual Financial Reports And Appoints Director & CFO

Vancouver, B.C., Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean" or the “Company”) is pleased to advise it has now completed its audit and filed its Audited Financial Statements, Management Discussion & Analysis, Annual Information Form and Chief Executive Officer and Chief Financial Officer Certificates for the year ended December 31, 2013 (collectively, the "Required Documents"). The filing of these Required Documents is the first of several material issues being resolved since the change in management following the general meeting held on May 23, 2014.

The Company is also pleased to report it has appointed Alex Gostevskikh as a director and Qualified Person, as defined by National Instrument 43-101, and Anthony Jackson as the Company's Chief Financial Officer.

The filing of the Required Documents and the appointment of two talented and experienced individuals for crucial management positions shows renewed optimism in the Company as the new management team begins the restoration of the Company to good standing. "I am very pleased have both Mr. Gostevskikh and Mr. Jackson rejoin the Company," said the Company's newly appointed Chairman and CEO, Robert Abenante. "We have a long road ahead of us and I feel this first critical milestone and the addition of experienced management will go a long way in beginning to restore investor confidence in the Company."

About Alex Gostevskikh
Alex Gostevskikh MSc MBA, is a geologist with over 20 years of experience in international mining and exploration for such commodities as gold, silver, and non-ferrous and base metals. He has extensive corporate experience through his involvement with a number of listed companies on the Toronto Stock Exchange ("TSX") and the New York Stock Exchange ("NYSE") markets. Mr. Gostevskikh is currently the Managing Director of Uranium Resources PLC, a company listed on the Alternative Investment Market ("AIM") in London, who is exploring mineralization in Tanzania. He was a Regional Exploration Manager for Centerra Gold Inc. (TSX listed), the largest Western gold producer in Central Asia, and has held other senior positions including Exploration Manager for Gulf International Minerals, Senior Geologist for Kinross Gold/Amax Gold, as well as consulting engagements with a number of major and junior mineral exploration companies. His past involvements have facilitated a valuable network of contacts in the mining and related industries in Turkey and across multiple regions of Central Asia.

About Anthony Jackson
Anthony Jackson CPA CA, is a Principal at BridgeMark Financial Corp. providing accounting and financial consulting services to developing and mature stage companies, as their Chief Financial Officer, handling all aspects of the Company's administration, compliance, reporting, and finance activities. Prior to his time at BridgeMark Financial, Mr. Jackson spent a number of years working at Ernst & Young LLP before moving into a senior analyst position at a boutique investment banking firm. During this time he worked with a broad range of public and private companies in a variety of industries. Most recently, Mr. Jackson has had extensive experience as a Director and CFO of numerous publicly traded corporations in the metals and mining industry.

About Mediterranean Resources
Mediterranean Resources Ltd. is developing two mine projects located at its 100%-owned Red Mountain (Kızıldağ) Project in Northeastern Turkey. The projects consist of the Tac (gold/copper) deposit and the Corak (gold/zinc/lead) deposit. Tac and Corak were the subject of a National Instrument 43-101 Resource Statement prepared by SRK Consulting (Canada) Inc. ("SRK") in 2009 and a Preliminary Assessment (also by SRK) prepared in September 2011. The Company intends to advance these deposits into production through open-pit mining.

Signed on behalf of the Board of Directors.

Robert Abenante
Chairman, President, & CEO

For more information please contact
Robert Abenante
(604) 669-3397

Forward-Looking Statements: This Mediterranean Resources Ltd. news release may contain certain "forward-looking" statements and information relating to Mediterranean which is based on the beliefs of Mediterranean management, as well as assumptions made by and information currently available to Mediterranean management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.