Mediterranean appoints Communications Manager, Investor Relations

VANCOUVER, Jan. 18 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean") today announced the appointment of John Walter of John Walter Communications Inc. ("JWCI") to the position of Communications Manager, Investor Relations. Mediterranean is engaging the services of JWCI to provide the senior management of the Company with ongoing capital markets counsel.

In addition to a monthly fee, JWCI will be entitled to receive up to 1,000,000 options over time based on meeting certain criteria. The options will be priced in the context of the market.

Mr. Walter is the Founder and President of John Walter Communications Inc., an independent consulting firm dedicated to assisting junior and intermediate mining companies grow to their full potential. Mr. Walter has worked in Engineering departments for a number of Canadian iron ore producers, assisting in all aspects of the mining cycle, from exploration, development and production. Additionally, Mr. Walter worked at numerous international mining locations supervising the construction of large scale open pit mining equipment and providing training to the personnel responsible for the operation and maintenance of the equipment. More recently, Mr. Walter spent more than two decades in institutional equity sales, including 17 years at UBS and its predecessor companies, providing coverage to institutional clients in North America, the Middle East, Asia and Australia. Mr. Walter graduated from Queen's University in Kingston, Ontario in 1979 with a degree in Mining Engineering.

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

SOURCE Mediterranean Resources Ltd.

For further information: For further information: Peter J. Guest, President & CEO, (604) 669-3397, www.medresources.ca

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