MANDALAY RES CORP - MNDJF STOCK NEWS

Mandalay Resources Corporation (MNDJF) announced updates on its Björkdal operation in Sweden, revealing significant gold intercepts from the North Zone drilling program. Highlights include:

• 155.0 g/t gold over 0.80 m
• 183.0 g/t gold over 0.45 m
• 64.8 g/t gold over 0.85 m

CEO Dominic Duffy expressed optimism about the potential increase in 2022 year-end mineral reserves. The company plans to shift drilling resources to the North Zone, further targeting areas with promising veining and mineralization.

Mandalay Resources reports successful results from the 2022 Robinson drilling program at its Costerfield Operation in Australia. The initial four drill holes intercepted visible gold near the historic Robinson Mine, with notable results including 1,780 g/t gold over 0.17 m in hole RB007. Visible gold was also detected in two other drill holes, with assays pending for further analysis. This prospect is significant as it lies within the current mining license and may indicate a downward continuation of historically productive veins. Future exploration efforts are planned to enhance understanding of mineralization.

Mandalay Resources Corporation (TSX: MND, OTCQB: MNDJF) held its Annual General Meeting on May 25, 2022, where all proposed resolutions were approved. Shareholders, representing 67.63% of total shares, re-elected seven directors, including Bradford Mills as Chair and Abraham Jonker as lead independent director. Ernst & Young LLP was also re-appointed as the auditor. The company, focused on gold-antimony and gold production, aims to boost output and reduce costs while enhancing community engagement and environmental responsibility.

Mandalay Resources Corporation (MNDJF) reported strong financial results for Q1 2022, achieving net debt-free status with $50.4 million cash and $45.7 million total debt. Revenue was $54.2 million, a 3% year-over-year increase, driven by higher gold and antimony prices. Adjusted EBITDA reached $31.3 million, marking a 20% increase from Q1 2021. The company reported adjusted net income of $13.9 million ($0.15 per share) and consolidated net income of $10.5 million. Production figures were robust, especially at the Costerfield mine, with significant contributions from gold and antimony.

Mandalay Resources Corporation announced it will release its first quarter 2022 financial results after market close on May 11, 2022. A conference call featuring CEO Dominic Duffy will follow on May 12, 2022, at 8:00 AM (Toronto time). Interested parties can access the call using provided toll-free and local dial-in numbers. The company operates the Costerfield gold-antimony mine in Australia and the Björkdal gold mine in Sweden, focusing on increasing production and reducing costs. Mandalay aims to enhance shareholder value through efficient operations and exploration.

Mandalay Resources Corporation (MNDJF) reported strong first-quarter production results for 2022, producing 29,631 ounces of gold equivalent, up from 28,676 ounces in Q1 2021. Key highlights include a record gold output of 12,384 ounces from the Björkdal mine and a 12% increase in production at Costerfield to 17,247 ounces. Sales totaled 28,280 ounces of gold equivalent, slightly down from the prior year. Average gold prices rose to $1,874/oz. Despite challenges, such as shipping delays due to COVID-19, Mandalay is optimistic about sustaining growth throughout the year.

Mandalay Resources Corporation (MNDJF) has filed its Annual Information Form for the year ending December 31, 2021, which is available on the Company's website and SEDAR. Additionally, the company released updated NI 43-101 compliant Technical Reports for its Björkdal gold mine in Sweden and Costerfield gold-antimony mine in Australia. Both reports were prepared by Mining Plus, with qualified individuals overseeing the resource estimates. Mandalay aims to grow production while maintaining safety and environmental responsibility in its operations.

Mandalay Resources Corporation (MNDJF) announced its financial results for Q4 and full-year 2021, marking significant milestones. The company achieved record revenue of $229.4 million for the year and $72.9 million for the fourth quarter, with adjusted EBITDA of $115.0 million for 2021. Consolidated net income reached $54.9 million or $0.60 per share. The Costerfield site contributed $88.9 million in adjusted EBITDA, demonstrating strong operational performance. Mandalay ended 2021 with a cash balance of $30.7 million, which grew to $47.2 million by January 2022.

Mandalay Resources Corporation (MNDJF) announced that its fourth quarter and full-year 2021 financial results will be released on February 24, 2022, after market close. A conference call with CEO Dominic Duffy will take place on February 25 at 8:00 AM (Toronto time) for analysts and investors. Mandalay is focused on enhancing production and reducing costs across its gold and antimony mining operations in Australia and Sweden, aiming to create shareholder value while ensuring safe and environmentally responsible mining.