TORONTO, March 31, 2023 /PRNewswire/ -- Mandalay Resources
Corporation ("Mandalay" or the "Company") (TSX: MND) (OTCQB: MNDJF)
announces that it has filed its Annual Information Form for the
year ended December 31, 2022. 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 an updated National Instrument 43-101
compliant Technical Report ("NI 43-101") documenting its recent
work at its Björkdal gold mine in Sweden. The 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 technical report for Björkdal entitled "Technical Report on
the Björkdal Gold Mine, Sweden"
(the "Björkdal Technical Report") was prepared by SLR Consulting
(Canada) Ltd. and the Mineral
Resource Estimates for Björkdal and Norrberget were carried out
under the supervision of Reno Pressacco, M.Sc.(A), P.Geo.,
Associate Principal Geologist, an employee of SLR and independent
of Mandalay. He is a Qualified Person for the purpose of NI 43-101.
The Mineral Reserve Estimate was carried out under the supervision
of Rick Taylor, CP, MAusIMM,
Principal Mining Engineer, an employee of SLR and independent of
Mandalay. He is a Qualified Person for the purposes of NI
43-101.
About Mandalay Resources
Corporation:
Mandalay Resources is a Canadian-based natural resource company
with producing assets in Australia
(Costerfield gold-antimony mine) and Sweden (Björkdal gold mine), with projects in
Chile and Canada under closure or development status.
The Company is focused on growing its production and reducing costs
to generate significant positive cashflow. Mandalay is committed to
operating safely and in an environmentally responsible manner,
while developing a high level of community and employee
engagement.
Mandalay's mission is to create shareholder value through the
profitable operation and continuing the regional exploration
program, at both its Costerfield and Björkdal mines. Currently, the
Company's main objectives are to continue mining the high-grade
Youle and Shepherd veins at Costerfield, which are expected to
continue to supply high-grade ore to the processing plant, while
extending Mineral Reserves. At Björkdal, the Company will aim to
increase production from the Aurora zone and other higher-grade
areas in the coming years in order to maximize profit margins from
the mine.
Dominic Duffy, President and Chief Executive
Officer; Edison Nguyen, Director, Business Valuations and
IR, Contact: 647.260.1566
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