December 18, 2014

VANCOUVER, - Mediterranean Resources Ltd. ("MNR" or the "Company") (NEX: MNR.H: OTC Pink: MNRUF) is pleased to announce that subject to exchange approval, the Company intends to complete a non-brokered private placement of up to 6,000,000 units of the Company (each, a "Unit") at a price of $0.25 per Unit to raise gross proceeds of $1,500,000 (the "Financing").  Each Unit will consist of one common share of the Company (each, a "Share") and one half of one non-transferable share purchase warrant (each, a "Warrant").  Each whole Warrant will entitle the holder to purchase one additional Share at a price of $0.25 per Share for a period of one year from the closing of the Financing.  

The Financing is intended to complement the letter of intent for a joint venture agreement disclosed in the Company's earlier December 18, 2014 news release.  The Company expects the proceeds from the Financing will be used for general working capital purposes. Securities issued in the Financing will be subject to a restricted period of four months and one day.

None of the securities to be issued in connection with the Financing will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities in any state where such offer, solicitation, or sale would be unlawful.

Subject to exchange approval, the Company has granted 1,310,000 incentive stock options to the directors and officers of the Company. The options will have a term of 5 years, expiring on November 17, 2019, each of which will allow the holder to purchase a common share in the Company at a price of $0.25. The stock options will have a vesting period in accordance with exchange policies and the Company's Stock Option Plan.

Subject to exchange approval, the Company has agreed to issue a total of 846,000 shares of the Company's common stock in consideration for past and future services of three service providers at a deemed aggregate value of $211,500.  Of this amount, a portion of the common shares are to be issued to a consulting company controlled by the Company's Chairman, President and CEO.  The issuance of the common shares will not result in a change of control of the Company. The agreements are subject to exchange approval and the common shares will be subject to a restricted period of four months and one day.

Signed on behalf of the Board of Directors.
Per:"Robert Abenante"
 Robert Abenante
       Chairman, President & CEO

For further information please contact:
Robert Abenante
604-669-3397
www.medresources.ca

Forward-Looking Statements

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

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

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