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2017-01-27

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

TORONTO, Jan. 27, 2017 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation
("Mandalay" or the "Company") (TSX:MND) announces that it has filed its
updated National Instrument 43-101 ("NI 43-101") compliant technical report
documenting its recent work at its Björkdal gold mine in Sweden. This
technical report can be accessed under the Company's profile at www.sedar.com
and on the Company's website at www.mandalayresources.com.

The Björkdal Report was prepared by Roscoe Postle Associates Inc. The Mineral
Resource Estimate was carried out under the supervision of Reno Pressacco,
M.Sc.(A)., P.Geo., an employee of RPA and independent of Mandalay Resources
Corporation. He is a "Qualified Person" for the purpose of National
Instrument 43-101. The Mineral Reserve Estimate was carried out under the
supervision of David Robson, P.Eng. and Ian Weir, P. Eng., both employees of
RPA and independent of Mandalay Resources Corporation. Both are Qualified
Persons for the purpose of NI 43-101.

About Mandalay Resources Corporation:
Mandalay Resources is a Canadian-based natural resource company with producing
assets in Australia, Chile, and Sweden, and a development project in Chile.
The Company is focused on executing a roll-up strategy, creating critical
mass by aggregating advanced or in-production gold, silver, and antimony
projects in Australia, the Americas, and Europe to generate near-term cash
flow and shareholder value.

For further information:

Mark Sander
President and Chief Executive Officer

Greg DiTomaso
Director of Investor Relations

Contact:
647.260.1566

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Mandalay Resources Corporation via Globenewswire

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