Mediterranean Resources
NEX BOARD : MNR.H
TSX VENTURE : MNR.H

December 12, 2014 17:04 ET

Mediterranean Announces Share Consolidation

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 12, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN OR INTO THE UNITED STATES

Mediterranean Resources Ltd. ("MNR" or the "Company") (NEX:MNR.H) announces that on December 11, 2014 the Company's Board of Directors approved a share consolidation of the outstanding share capital of the Company on the basis of ten (10) pre-consolidation common shares for one (1) post-consolidation common share (the "Consolidation").

Subject to receipt of NEX approval, the consolidation will result in 14,219,132 common shares. No fractional common shares will be issued as a result of the Consolidation. Instead, any fractional common shares will be rounded down to the nearest whole number of common shares. The Company's name and trading symbols will remain unchanged.

Registered shareholders will receive a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc. ("Computershare"), with information on how to exchange their old share certificates representing pre-consolidation common shares with the new share certificates representing post-consolidation common shares.

Signed on behalf of the Board of Directors.

Robert Abenante

Chairman, President & CEO

Forward-Looking Statements

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of the Company. Such statements can generally, but not always, be identified by words such as "expects", "plans", "anticipates", "intends", "estimates", "forecasts", "schedules", "prepares", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

Forward-looking statements and information concerning anticipated financial performance are based on management's assumptions using information currently available. In making the forward-looking statements in this news release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company. Although the Company considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither NEX, TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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