January 23, 2013

Vancouver, BC, Mediterranean Resources Ltd. (TSX: MNR; Frankfurt: MHM1) ("Mediterranean" or the "Company") is pleased to announce that it has appointed Mehmet Urcu of Istnvest as advisor to the company on the planned IPO of Akdeniz Resources Madencilik A.S. (Akdeniz). It is envisioned that an IPO shall occur on the Istanbul Stock Exchange, with Akdeniz issuing new shares of its subsidiary to local and international investor's equivalent to 15% of the expanded capital. The sole assets of Akdeniz at this time are the Taç and Çorak deposits located in northeastern Turkey, which represent sizeable gold/polymetallic resources.

If successful, the IPO will make Akdeniz the second listed mining stock on the Istanbul Stock Exchange after the substantial gold mining group, Koza. 

Istnvest is an investment bank in Istanbul, headed by Mehmet Urcu, where he is a Founder and a Managing Partner. Prior to forming Istnvest, he was the Co-Founder and the Managing Partner of Danista Capital Partners based in Istanbul. Prior to that, he had run YF Securities as Executive Vice President and Orion Investment, a Dubai based investment firm, as CEO. Prior to this, he served in a variety of positions during his five-year tenure at TSKB, a leading investment bank in Turkey. He started his financial career at Prudential Investments, part of Prudential Financial. He then worked as an Executive Country Director in USAID/IESC Business Development and JVs program. A selected transaction history is listed below:

IPO:  Denizbank, AFM Sinemalar