Mediterranean Resources signs drilling contract and applies for mining licenses
VANCOUVER, Sept. 8, 2011 /CNW/ --
VANCOUVER, Sept. 8, 2011 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR;
Frankfurt: MHM1) ('Mediterranean' or the 'Company') is pleased to
announce that it has signed a drilling contract with Ortadoğu Sondaj
San. Ve Tic. Ltd. for Mediterranean's previously announced drilling
campaign on the Taç and Çorak deposits. It is expected that the drill
campaign shall commence through October.
Also, the Company has appointed Zeki Şit as Technical Supervisor for its
Yusufeli project. Mr. Şit is a Mining Engineer and a Graduate of Dokuz
Eylül University in Izmir.
This appointment is linked to the Company's application in converting
two of its operational licenses into mining licenses.
Mediterranean Resources is focused on an emerging mineral region in
north-eastern Turkey where it is developing two advanced exploration
stage gold properties.
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 release.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities of the Company in any
jurisdiction. The securities to be issued pursuant to the Unit Offering
by the Company have not and will not be registered under the United
States Securities Act of 1933, as amended (the '1933 Act'), or the
securities laws of any state of the United States, and may not be
offered or sold in the United States absent registration or an
applicable exemption therefrom under the 1933 Act and the securities
laws of all applicable states.
Certain information set out in this News Release constitutes
forward-looking information, which may include information relating to
estimates of sales and revenue of MNR. 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 press release, or
incorporated herein by reference, are expressly qualified, in their
entirety, by this cautionary statement.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/September2011/08/c9612.html
Christopher Ecclestone
Chief Executive Officer
604-669-3397
www.medresources.ca