MEDITERRANEAN RESOURCES ANNOUNCES WARRANT EXERCISE

VANCOUVER, June 14, 2011 /CNW/ --
VANCOUVER, June 14, 2011 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR;
Frankfurt: MHM1) ('Mediterranean' or the 'Company') announces that it
has been advised that holders of 5.26 million warrants in the Company
have today exercised these warrants at an exercise price of 14 cents
per warrant for total proceeds of $736,400.

Use of Proceeds

The proceeds from this issue will be used for further drilling over the
summer season at the company's Yusufeli gold and base metal project in
north-east Turkey and for general corporate purposes.

About Mediterranean Resources

MNR is an advanced gold exploration company operating in north-eastern
Turkey. MNR controls a contiguous 12km mineralized trend known as the
Yusufeli project. 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. Approximately
$16 million in cumulative expenditures have been made to date on the
project.

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/June2011/14/c5833.html

Christopher Ecclestone
Interim Chief Executive Officer
604-669-3397
www.medresources.ca

For further information, please contact Cheryl Harpestad, Corporate Secretary at (604) 669 3397. Email inquiries should be made to caharpestad@medresources.ca and the company website is located at www.medresources.ca. Inquiries by direct mail should be addressed to Mediterranean Resources Ltd., 310 - 885 Dunsmuir Street, Vancouver, BC.  V6C 1N5