Mandalay Resources Corporation Announces Filing of Updated NI 43-101 Technical Report for its Costerfield Mine

TORONTO, Feb. 06, 2019 - Mandalay Resources Corp. ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) announced today that it has filed its updated National Instrument 43-101 (“NI 43-101”) compliant technical report documenting its recent work at its Costerfield gold-antimony mine in Australia. This technical report can be accessed under the Company’s profile at www.sedar.com and www.mandalayresources.com.

The Mineral Resource Estimate was carried out under the supervision of Danny Kentwell, FAusIMM, an employee of SRK Consulting and independent of Mandalay Resources Corp.. He is a Qualified Person for the purpose of NI 43-101. The Mineral Reserve estimate was prepared by Steven Taylor BTech (Mining Engineering) MAusIMM, and Chris Lynch BEng (Mining) MAusIMM who are full-time employees of Mandalay Resources and was independently verified by Anne-Marie Ebbels, MAusIMM, CP (Mining) who is a full-time employee of SRK Consulting and a qualified person under NI 43-101.

For Further Information:

Dominic Duffy
President and Chief Executive Officer

Greg DiTomaso
Director of Investor Relations

Contact: 647.260.1566


About Mandalay Resources Corporation:

Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and Sweden, and care and maintenance and development projects in Chile. The Company is focused on growing production at its gold and antimony operation in Australia, and gold production from its operation in Sweden to generate near term cash flow.