VANCOUVER, Dec. 6 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR,
Frankfurt: MHM1) (the "Company") is very pleased to announce that its common
shares will be listed on the Toronto Stock Exchange ("TSX") effective at the
market opening Monday, December 10, 2007 under its existing trading symbol
"MNR". The TSX is the senior equity market in Canada and the Company is proud
to once again have its shares trade on this prestigious exchange.
The Company's shares will no longer trade on the TSX Venture Exchange
following the market close on Friday, December 7, 2007.
About Mediterranean Resources
The Company acquires and develops advanced stage mineral properties of
demonstrated potential. Currently the Company is actively working on its two
100% owned gold properties in Turkey, Tac and Corak, that lie along a common
mineralized trend with Corak approximately 8 kilometres to the southwest of
Tac. These properties experienced more than US$4 million of exploration by a
major international mining company during the early 1990's, and US$3.1 million
of exploration by the Company in 2006 which led to the Company acquiring an
undivided interest in them. The Company has also initiated ground exploration
at Cevreli, approximately two kilometres to the southwest of Tac along the
common mineralized trend linking Tac and Corak. The purpose of this is to
identify drill targets for 2008 and open up a third area of exploration along
the 11 kilometre trend.
During 2006, the Company outlined at the Tac Property a NI 43-101
compliant Indicated Resource of 773,313 ozs of gold and 34,220,429 lbs of
copper on an uncapped basis with average grades of 2.01 g/t gold and 0.13%
copper at a 1.0 g/t gold cut-off. The Company is conducting a 10,000 metre
drill program at Tac with the goal of updating the compliant resource estimate
by February 29, 2008. The Company is also carrying out a 20,000 metre drill
campaign at Corak with the goal of completing a NI 43-101 compliant resource
estimate also by February 29, 2008.
The TSX and the TSX Venture Exchange do not accept responsibility for the
adequacy or accuracy of this release.
For further information:
For further information: Dr. Peter J. Guest, President & CEO, (604)
669-3397; Jag S. Sandhu, VP Corporate Development, (604) 306-1950; Or visit
our website at www.medresources.ca