First results from current drilling program extend gold & base metal mineralization at the Corak property



    VANCOUVER, Sept. 3 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR,
Frankfurt: MHM1) announces results from five diamond drill holes, indicating
the continuation of the gold and base metal resource potential at its Corak
property in northeastern Turkey. Exploration is ongoing, with two drill rigs
working.

    
    Highlights

    -   Multiple intercepts in each hole reported.
    -   Pervasive gold values, ranging up to 18.15 g/t.
    -   Substantial zinc, lead and silver mineralization associated.
    -   Strong potential for significant extension of established resources.
    -   Newly developed copper/gold targets at the Celtik property to be
        drilled this fall.
    

    Project Overview

    Mediterranean Resources Ltd. ("MNR") owns 100% of four exploration
properties situated along a 12 kilometre mineralized trend in northeastern
Turkey. NI 43-101 compliant resource estimates (over 2 million ounces in
total, Au equivalent, indicated and inferred) have been established at the Tac
and Corak properties; and ground exploration to develop drilling targets is
ongoing at the Cevreli and Celtik properties. The Celtik property, where
highly elevated copper and gold values have been encountered in grab samples
and soil geochemistry, will be drilled this fall.

    Current Corak Drilling

    Approximately 5,000 metres of the 8,000 metre 2008 Corak drill campaign
have been completed to date. Over 1 million ounces (indicated and inferred
gold equivalent) have already been established at Corak in an NI 43-101
compliant report released earlier this year. Current drilling will provide an
updated resource estimate, expected by year end.
    Four holes, CD-172, 174, 176A and 182, confirm gold and base metal
mineralization extending approximately 300 metres north and 200 metres east of
the established mineralized zones. To date, drilling has explored
approximately 30% of the Corak property.
    CD-181 is an in-fill hole, reinforcing the resource potential of the
known Corak mineralized zone.
    Results are tabled below. True widths of the narrow high grade veins
reported are indeterminable at this stage. The attached map (or link to
www.medresources.ca/s/Maps.asp) correlates the mineralized zones with the new
drill holes. Depths of the reported holes range from 150 to 320 metres.

    
    -------------------------------------------------------------------------
    CD-172     From      To  Interval      Au       Ag     Cu     Pb      Zn
                (m)     (m)     (m)      (g/t)    (g/t)    (%)    (%)     (%)
    -------------------------------------------------------------------------
               68.4    77.7       9.3    0.88     7.72    0.2    1.3     1.3
    -------------------------------------------------------------------------
    inc        75.3    75.6       0.3    0.98    30.60    0.8    0.8     1.5
    -------------------------------------------------------------------------
    and        86.1    86.4       0.3    8.15    20.00      -   11.4    14.6
    -------------------------------------------------------------------------
    and       113.6   115.6       2.0    0.16     6.63    0.1    1.1     2.3
    -------------------------------------------------------------------------
    and       230.2   230.9       0.7    0.73     1.80      -    0.5     2.1
    -------------------------------------------------------------------------
    and       283.5   283.7       0.2   14.70     1.20      -    0.4     0.8
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    CD-174     From      To  Interval      Au       Ag     Cu     Pb      Zn
                (m)     (m)     (m)      (g/t)    (g/t)    (%)    (%)     (%)
    -------------------------------------------------------------------------
               75.7    78.0       2.3    2.28     1.17    0.1    0.1     0.8
    -------------------------------------------------------------------------
    and        95.9    96.3       0.4    1.53    29.00      -    4.1     1.7
    -------------------------------------------------------------------------
    and       151.4   152.2       0.8    7.15     1.50      -    0.3     0.5
    -------------------------------------------------------------------------
    and       164.3   165.6       1.3    0.20     6.10      -    1.9     2.6
    -------------------------------------------------------------------------
    and       256.8   257.8       1.0    7.63     8.32    1.0    0.1     0.4
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    CD-176A    From      To  Interval      Au       Ag     Cu     Pb      Zn
                (m)     (m)     (m)      (g/t)    (g/t)    (%)    (%)     (%)
    -------------------------------------------------------------------------
               85.7    86.0       0.3    0.20    50.00    0.3    4.9    11.1
    -------------------------------------------------------------------------
    and        88.3    90.9       2.6    0.36    38.80  3,787    2.5     5.5
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    CD-181     From      To  Interval      Au       Ag     Cu     Pb      Zn
                (m)     (m)     (m)      (g/t)    (g/t)    (%)    (%)     (%)
    -------------------------------------------------------------------------
               45.3    46.0       0.7    2.07     4.20      -    1.5     3.9
    -------------------------------------------------------------------------
    and        73.3    74.5       1.2    0.13     7.00    0.1    1.8     4.4
    -------------------------------------------------------------------------
    and       137.6   140.4       2.8    0.61    18.26    1.0    0.2     1.5
    -------------------------------------------------------------------------
    and       144.2   154.2      10.0    0.30     3.47      -    0.2     0.7
    -------------------------------------------------------------------------
    and       168.2   172.3       4.1    0.06     4.89      -    1.1     2.8
    -------------------------------------------------------------------------
    and       242.6   242.9       0.3    0.23    15.50    0.1    4.4     8.1
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    CD-182     From      To  Interval      Au       Ag     Cu     Pb      Zn
                (m)     (m)     (m)      (g/t)    (g/t)    (%)    (%)     (%)
    -------------------------------------------------------------------------
                8.4    16.3       7.9    0.35     5.87      -    0.7       -
    -------------------------------------------------------------------------
               56.5    56.8       0.3    0.21    59.00    0.1   17.2    14.8
    -------------------------------------------------------------------------
    and        65.6    65.9       0.3    0.10    18.60    0.4    3.7     6.5
    -------------------------------------------------------------------------
    and        72.0    72.7       0.7    0.26    42.00    0.1    9.2    11.9
    -------------------------------------------------------------------------
    and        86.0   106.7      20.7    0.27     6.49      -    0.1     0.2
    -------------------------------------------------------------------------
    

    Qualified Person and QA/QC

    Dr. Peter Guest is the qualified person who has reviewed the data in this
news release. The ALS Chemex Vancouver laboratory used standard fire assay and
atomic absorption methods in performing all gold and multi-element analyses.

    Corak Resource Estimate

    In 2007 MNR drilled approximately 17,500 metres at Corak over a
mineralized area including the Village and South Zones. A NI 43-101 compliant
resource estimate (March 11, 2008) outlined 542,163 ozs of gold, indicated, on
a gold equivalent basis at an average grade of 1.74 g/t using a threshold
value of $13/tonne contained metal value. An inferred resource was also
outlined of 606,925 ozs of gold on a gold equivalent basis at an average grade
of 1.6 g/t and $13/tonne contained metal value.

    Tac Resource Estimate

    Tac is situated approximately 8 km northeast of Corak. Tac has an
NI 43-101 compliant indicated resource of 1,055,954 ozs of gold on a gold
equivalent basis at an average gold grade of 1.61 g/t using a threshold value
of $13/tonne contained metal value. An inferred resource was also outlined of
123,965 ozs of gold on a gold equivalent basis at an average grade of 1.71 g/t
and $13/tonne contained metal value.

    About Mediterranean Resources

    Mediterranean acquired an undivided interest in the Tac and Corak
properties from a major mining company in 2006. Over $13 million in cumulative
expenditures have been made to date, resulting in over 2 million ounces (gold
equivalent) combined resource estimates. The Cevreli and Celtik properties
were acquired directly by MNR. Mediterranean is well financed for continued
exploration, with a cash position of just over $7 million reported on June 30,
2008. All funds are held in bank balances or short-term (90 day) financial
instruments.





For further information:

For further information: Dr. Peter J. Guest, President & CEO, (604)
669-3397; Mr. Douglas Hickey, Manager, Investor Relations, (604) 629-4807,
www.medresources.ca

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Mediterranean Resources Ltd.

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