VANCOUVER, Nov. 8, 2012 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("MNR" or the "Company") wishes to advise that Dr. Kerim Sener has resigned from the Board of the Company with immediate effect to concentrate his attentions on Ariana Resources PLC, where he is the Managing Director.
The Company would like to thank Dr. Sener for his contributions to MNR's management over the last 18 months and wishes him well in future endeavours. The Company intends to seek his advice and utilize his experience in Turkey in the future, as it progresses the development of its Kizildag Project.
About Mediterranean Resources
Mediterranean is a company with exploration assets in Turkey and is establishing a presence in Albania. It acquired an undivided interest in the Tac and Corak properties from Teck Cominco in 2006. The Cevreli and Celtik properties were acquired directly by MNR. Approximately $18 million in cumulative expenditures have been made to date.
Signed on behalf of the Board of Directors.
Neither Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this News Release.
Certain information set out in this News Release constitutes forward-looking information, which may include information relating to the exploration and development of the Company's properties. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of the Company as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. Those factors include, but are not limited to risks, uncertainties and other factors that are beyond the control of the Company, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although the Company believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Company contained in this News Release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement. The Company does not undertake any obligation to update any forward-looking statements or information to reflect information, events, results, circumstances, realities or otherwise after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by law.
SOURCE: Mediterranean Resources Ltd.
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