Mandalay Resources Corporation Announces Filing of Annual Information Form and Updated NI 43-101 Technical Reports for Its Costerfield and Cerro Bayo Projects, Announces Annual General and Special Meeting Date

TORONTO, March 31, 2017 -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX:MND) announces that it has filed its Annual Information Form for the year ended December 31, 2016. The Annual Information Form can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at www.mandalayresources.com.

Mandalay has also filed updated National Instrument 43-101 ("NI 43-101") compliant technical reports documenting its recent work at its Costerfield gold-antimony mine in Australia and its Cerro Bayo silver-gold mine in Chile. These technical reports can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at www.mandalayresources.com.

The Costerfield Technical Report was prepared by SRK Consulting (Australia) Pty Ltd., authored by Peter Fairfield, Principal Consultant, BEng (Mining), FAusIMM (No: 106754); Simon Walsh, BSc (Extractive Metallurgy), MBA Hons, CP, MAusIMM, GAICD and Danny Kentwell, MSc Mathematics and Planning (Geostatistics), FAusIMM, Principal Consultant, all independent Qualified Persons under NI 43-101, and filed on March 31, 2017.

The Cerro Bayo Technical Report was prepared by Roscoe Postle Associates Inc., authored by Normand L. Lecuyer, P.Eng. and Rosmery Julia Cárdenas Barzola, P.Eng, both independent Qualified Persons under NI 43‑101, and filed on March 31, 2017.

Annual General and Special Meeting
Mandalay’s Annual General and Special Meeting will be held in Toronto at The Park Hyatt Hotel, 4 Avenue Rd, Toronto, on Thursday, May 11, 2017 at 9:00 am.

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