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

TORONTO, Jan. 27, 2017 -- 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