VANCOUVER, April 16, 2014 /CNW/ - Mediterranean Resources
Ltd. (TSX: MNR) (Frankfurt: MHM1) ("MNR" or the "Company") wishes
to advise that Christopher
Ecclestone has resigned as Chief Executive Officer of the
company with immediate effect. The Board appointed Mr. Ecclestone
as Non-Executive Chairman. The Board of Directors has started a
search for a new CEO.
About Mediterranean Resources
The company is developing two mine projects located at its
100%-owned Red Mountain (Kızıldağ) Project in Northeastern Turkey. The projects consist of
the Tac (gold/copper) deposit and the Corak (gold/zinc/lead)
deposit.
Tac and Corak were the subject of an NI 43-101 resource
statement prepared by SRK in 2009 and a Preliminary Assessment
(also by SRK) prepared in September
2011. The company plans on advancing these deposits into
production through open-pit mining.
Signed on behalf of the Board of Directors.
The Toronto Stock Exchange does not accept responsibility for
the adequacy or accuracy of this release.
Forward-Looking Statements: This Mediterranean Resources Ltd.
news release may contain certain "forward-looking" statements and
information relating to Mediterranean which is based on the
beliefs of Mediterranean management, as well as assumptions made by
and information currently available to Mediterranean management.
Such statements reflect the current risks, uncertainties and
assumptions related to certain factors including, without
limitations, exploration and development risks, expenditure
and financing requirements, title matters, operating hazards, metal
prices, political and economic factors, competitive factors,
general economic conditions, relationships with vendors and
strategic partners, governmental regulation and supervision,
seasonality, technological change, industry practices, and one-time
events. Should any one or more of these risks or uncertainties
materialize or change, or should any underlying assumptions prove
incorrect, actual results and forward-looking statements may vary
materially from those described herein.
SOURCE Mediterranean Resources Ltd.