Mediterranean Resources update on its litigation against its former CEO and its former sub-let tenant

VANCOUVER, Nov. 7, 2011 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) (the "Company") wishes to update the market on the progress of its legal action with its former CEO, Peter Guest and its former sub-tenant, Dr. Cheryl Guest. The full text of the counterclaim filed by the Company in April against Peter Guest and Cheryl Guest is now available online at the following link on the Company's website.

The trial date for this matter has been set for April 2012 and the Company's litigators, Fasken Martineau DuMoulin LLP have been asked by the Company to expedite the examinations for discovery of Peter Guest and Cheryl Guest at the earliest possible date.

The Company is pleased to announce that its monthly income from subletting of office space at its Vancouver office is running at $4,500 per month. This compares with the $300 per month in sub-let income received by the Company at the same time last year when Cheryl Guest, the wife of the former CEO, was the Company's sub-let tenant.

Signed on behalf of the Board of Directors.

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

SOURCE Mediterranean Resources Ltd.

For further information:

Christopher Ecclestone
Chief Executive Officer

Profil de l'entreprise

Mediterranean Resources Ltd.

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