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Press release from CNW Group

Mediterranean Resources announces results from two new mineralized areas

Monday, November 26, 2012

Mediterranean Resources announces results from two new mineralized areas07:45 EST Monday, November 26, 2012VANCOUVER, Nov. 26, 2012 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR); (Frankfurt: MHM1) ("Mediterranean") is pleased to announce results from initial rock sampling at Hilal, a newly identified prospect, situated north-northwest of the Company's Celtik Project. This zone (the part of the Celtik exploration tenement that is situated on the northern side of Coruh Valley) has never been subject to any reporting by the Company.The company also takes this opportunity to publish results from its rock sampling program in the contiguous Tac exploration license.Fig. 1. Areas of Recent Sampling can be found at the following link: discovery of a new prospect (shown on the accompanying maps as Zone 1) with higher silver assay than the company has hitherto obtained on its tenements is the result of a systematic reconnaissance and rock sampling throughout the entirety of its holdings to ascertain the true extent of the Kizildag and Celtik deposits.Hilal is a north-south trending mineralized zone of intensely sheared and brecciated rock with pervasive argillic alteration, which is at least 800 meters long and 300 meters wide. The area is characterized by ubiquitous iron and copper-oxide staining along with highly anomalous silver and lead-zinc mineralization.The prospect is tentatively interpreted as a previously unknown northernmost extension of the Tac deposit and may be significantly expanding the overall area potential.Hilal signals a new phase in the exploration of the Company's Yusufeli project.Fig. 2. Hilal (Zone 1) can be found at the following link: NorthTac North (Zone 2) is an elongated area some 1200 meters long and at least 600 meters wide that extends in northeasterly direction toward Hilal. Situated largely on the Tac exploration license, Tac North is contiguous to the Company's Tac deposit.Tac North is an intensely sheared area with manifest phyllic/argillic alteration. Of particular interest, is its silver-base metal geochemical affinity which may be interpreted as a newly discovered mineralization level in the greater Yusufeli mineralized system.Fig. 3. Northern Edge of Tac tenement can be found at the following link: samples collected by MNR's geological team. The sampling at Hilal included significant silver assays as follows:SampleAu g/tAg g/tCu%Pb%Zn%437710.013.63.88n/an/a437720.076.40.97n/an/a437761.51108.0n/a1.920.17437770.1112.63.451.170.90437780.3014.63.190.35n/a437790.3113.93.490.390.10437800.0519. at Tac North (Zone 2) reported particularly strong copper assays, including sample 43982 grading 8.54% Cu and 11.8 g/t Ag from a quartz vein with abundant sulfide mineralization vein N354/88NE:SampleAu g/tAg g/tCu%Pb%Zn%438640.0310.02.630.291.99438670.016.94.31n/a0.19438680.0116.05.360.220.40438710. Company views these results as an exciting new copper-silver-rich zone which merits further exploration attention over the coming months.The Celtik exploration blocks are now subject to a Joint Venture with the Ramsey Group and associated parties (announced September 20, 2012 news release). Meanwhile the Tac tenements are subject to partnering to a lesser extent with the same parties in differing percentages under the same MOU. The Company has announced its intention to float its Akdeniz subsidiary (holding the Tac and Corak blocks) on the Istanbul Stock Exchange.Quality ControlMediterranean Resources and its subsidiaries adhere to industry standard quality assurance and quality control procedures for all samples. The QA/QC program includes the insertion of blanks, duplicates and certified standards into the sample stream. Gold and multi-element assaying is undertaken by ALS at its laboratories in Vancouver, Canada.Alex Gostevskikh, MMSA (QP), a Director of the Company, is a Qualified Person as defined by National Instrument 43-101. Mr. Gostevskikh has reviewed and consents to the publication of all technical information included in this news release.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.SOURCE: Mediterranean Resources Ltd.For further information: Christopher Ecclestone Chief Executive Officer 604-669-3397