Mediterranean Resources Advises Of Director Resignation
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 03 January 2014
Release date- 30122013 - Vancouver, BC - Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) wishes to advise that John Shanahan has resigned as a director from the Board of the Company effective as of December 27, 2013 to concentrate his attentions on Revett Minerals, of which he is the CEO.
The Company would like to thank Mr. Shanahan for his contributions to MNR's management over recent years and wishes him well in future endeavors.
About Mediterranean Resources
The company is developing two mines located at its 100%-owned Red Mountain (KA+/-zA+/-ldaAY) 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 an NI 43-101 resource statement prepared by SRK in 2009 and a Preliminary Assessment (also by SRK) prepared in September 2011. Current NI 43-101 compliant resource estimates for the TaA and A(++)orak projects total 1.58 million ounces gold Indicated and 0.29 million ounces Inferred, as well as an Indicated resource of 64 million lbs of copper, 141 million lbs of Lead and 340 million lbs of Zinc. The company plans on advancing these deposits into production through open-pit mining.
President and CEO
Mediterranean Resources Ltd.
This Mediterranean Resources Ltd. news release may contain certain 'forward-looking' statements and information relating to Mediterranean which are 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.
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