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Re: News Releases - 2011 - Wednesday, March 16, 2011
Mediterranean Announces Senior Management and Board Changes
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Vancouver, B.C., March 16, 2011 - Mediterranean Resources Ltd. (TSX:
MNR; Frankfurt: MHM1) ("Mediterranean") announces that Peter Guest is
no longer acting as President and Chief Executive Officer of the
Company effective March 15, 2011.
It also advises that Bryan Morris has resigned as a Director of the
Company with immediate effect.
The Company shall undertake a comprehensive search for Dr Guest's
successor. While the search proceeds John Clarke, a Director, will
assume the role of interim Non Executive Chairman of the Company.
Signed on behalf of the Board of Directors.
For further information please contact:
John Clarke
Interim Non Executive Chairman
604-669-3397
www.medresources.ca
The TSX does not accept responsibility for the adequacy or accuracy of
this release.
Statements contained in this news release that are not historical fact,
such as statements regarding the prospects of the Company's Chief
Executive Officer ("CEO") search, are forward-looking statements as
that term is defined in Canadian Securities legislation and the Private
Securities Litigation Reform Act of 1995. Such forward looking
statements are subject to risks and uncertainties which could cause
actual results to differ materially from estimated results. Such risks
and uncertainties include, but are not limited to, the Company's
ability to identify and engage a suitable CEO and the other risks and
uncertainties described more fully in the Company's Form 20-F as
amended and other filings with Canadian regulators and the Securities
and Exchange Commission. Our forward-looking statements are based on
the beliefs, expectations and opinions of management on the date the
statements are made, and we do not assume any obligation to update
forward-looking statements if circumstances or management's beliefs,
expectations or opinions should change, other than as required by
applicable law. For the reasons set forth above, you should not place
undue reliance on forward-looking statements.
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Copyright (c) 2011 MEDITERRANEAN RESOURCES LTD. (MNR.H) All rights
reserved. For more information visit our website at
http://www.medresources.ca/ or send
mailto:investorrelations@medresources.ca
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Managem is a gold producing company based in Morocco. Managem holds various exploration projects in Gabon, in Guinea and in Morocco. Its main exploration properties are BAKOUDOU - MAGNIMA in Gabon, IMITER and HANA-LOBO in Morocco and KOSSANKEN in Guinea. |