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 |   Fri Jun 16, 2006
Grant Of Stock Options
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| | Vancouver, B.C., June 16, 2006 -- Mediterranean Resources Ltd. (TSX-V: MNR) (the "Company") advises that it has granted an aggregate of 830,000 incentive stock options to its directors, officers, and employees, exercisable at $0.47 per share for a period of five years (vesting as to 25% upon grant, and the balance in three equal instalments over the first 12 months). The options are granted pursuant to the Company's new 10% rolling stock option plan approved by shareholders at the Company's recent annual general meeting. This will bring the total number of options outstanding to 1,340,000 (representing 3.4% of the Company's issued and outstanding common shares).
Mediterranean Resources is focused on an emerging mineral region in north-eastern Turkey, where it is developing two advanced exploration stage gold properties, Tac and Corak, that are held under option from Teck Cominco.
ON BEHALF OF THE BOARD
"Peter J. Guest"
CEO and President
For further information, please contact:
Peter J. Guest
President & CEO
604-669-3397
Andreas Curkovic.
The Equicom Group
416-815-0700 x 262
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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