Mr. Christopher Ecclestone reports

MEDITERRANEAN RESOURCES ANNOUNCES CHANGE TO BOARD OF DIRECTORS

Mediterranean Resources Ltd.'s Alex Gostevskikh has resigned as a director of the company. The board would like to thank Mr. Gostevskikh for his services to the company since 2011 and wishes him well for the future.

David Taylor has been appointed as a director of the company. Mr. Taylor has been involved with junior companies as president of Capital Street Group, a finance advisory firm, since 2007. He has over 15 years of experience in financial markets in Asia, the United States and Canada. He began his career in investment banking executive search and was later recruited by the Thomson Reuters software division. He helped launch a venture capital deal database for the U.S. National Venture Capital Association in 1999. Clients included Intel Capital, Microsoft and U.S. venture capital funds. During this time, he was a prominent speaker at venture capital and buyout conferences in the U.S. and internationally, and regularly presented data warning of the bubble in dot-com investments.

Following that, Mr. Taylor was a manager at a boutique provider of alternative asset management software for institutions and family offices. Representative clients included the Rockefeller Foundation, Calpers, Calsters, UTIMCO, Princeton University, Stanford University, Cascade Investments (Bill and Melinda Gates Foundation), MSD Capital (Michael Dell), Mousse Capital (Chanel Family) and the Hewlett Foundation.