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Mediterranean Resources Ltd.

Published : May 05th, 2010

Announces Private Placement

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Keywords :   Gold | Turkey |
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      Mediterranean Announces Private Placement
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Vancouver, BC, May 5, 2010 -- Mediterranean Resources Ltd. (the
"Company") (TSX MNR, Frankfurt MHM1) announces a non-brokered private
placement of a maximum of 14,000,000 shares at a price of $0.08 per
share for gross proceeds of approximately $1,100,000.

The proceeds from the financing will be used for advancement of the
Company's Tac, Corak and Celtik projects within the Yusufeli property
in Turkey and for general working capital purposes.

Closing of the placement is subject to the approval of The Toronto
Stock Exchange.

About Mediterranean Resources

MNR is an advanced gold exploration company operating in north-eastern
Turkey.  MNR has a 100% interest in the Tac and Corak deposits where an
NI 43-101 compliant resource estimate established an indicated resource
of 49.5 million tonnes grading 0.99 g/t Au containing 1.58 million
ounces of gold and an inferred resource of 11.0 million tonnes grading
0.83 g/t Au containing 290,000 ounces of gold.   

MNR controls a contiguous 12km mineralized trend known as the Yusufeli
Property which provides considerable exploration potential.
Approximately $15 million in cumulative expenditures have been made to
date in exploring the property.


On behalf of the Board of Directors,
"Dr. Peter J. Guest"
President & CEO


For further information please contact:

Peter J. Guest
President & CEO
Ph:  604-669-3397
pguest@medresources.ca
Website: www.medresources.ca

or

John Walter
Communications Manager, IR
Ph:  1-647-430-0197
john@jfwalter.com

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Copyright (c) 2010 MEDITERRANEAN RESOURCES LTD. (MNR.H)  All rights
reserved.  For more information visit our website at
http://www.medresources.ca/ or send mailto:info@medresources.ca
=======================================================================
.
Data and Statistics for these countries : Turkey | All
Gold and Silver Prices for these countries : Turkey | All

Mediterranean Resources Ltd.

EXPLORATION STAGE
CODE : MNR.V
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Mediterranean Res. is a zinc and gold development stage company based in Canada.

Mediterranean Res. holds various exploration projects in Peru and in Turkey.

Its main exploration properties are YUSUFELI in Turkey and LANCONES and TAMBO GRANDE in Peru.

Mediterranean Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 26.0 millions as of today (US$ 25.4 millions, € 17.4 millions).

Its stock quote reached its highest recent level on April 27, 2007 at CA$ 0.50, and its lowest recent point on October 05, 2007 at CA$ 0.25.

Mediterranean Res. has 86 756 002 shares outstanding.

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Annual reports of Mediterranean Resources Ltd.
Annual Report 2007
Financings of Mediterranean Resources Ltd.
5/5/2010Announces Private Placement
Nominations of Mediterranean Resources Ltd.
1/29/2011Mediterranean Appoints Jeffrey Nichols as Company Director
Project news of Mediterranean Resources Ltd.
2/14/2011Announces Resumption of Preliminary Assessment and Conversio...
12/8/2009(Yusufeli)Initiates Drilling At The Celtik Discovery And Advances Yusu...
5/8/2009(Yusufeli)Technical Report on the Yusufeli Property
Corporate news of Mediterranean Resources Ltd.
3/9/2010Provides Update On Celtik Drilling And Preliminary Economic ...
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