MANDALAY RES CORP - MNDJF STOCK NEWS

Mandalay Resources Corporation (MNDJF) has reported promising drilling results from its Björkdal operation in Sweden, highlighting significant gold grades from recent exploration. Key findings include 47.7 g/t gold over 11.7 m and multiple high-grade intercepts in the Central Zone Extension area. The ongoing drilling campaigns indicate an upgrading of ore grades, which may enhance future production. In response to these results, a mining concession application has been submitted to extend license holdings. These developments mark a strategic focus on high-potential areas to maximize profitability.

Mandalay Resources Corporation (MNDJF) has announced strong production and sales results for Q4 and full-year 2021, exceeding guidance with a total of 123,002 ounces of gold equivalent produced, the highest since 2017. 2021 sales also reached a peak at 126,241 ounces, marking a 19% production and 26% sales growth year-over-year. For 2022, guidance estimates a production of 118,000 - 130,000 ounces at cash costs of $700 - $900 and all-in sustaining costs of $1,100 - $1,300. The company anticipates further development at its Costerfield and Björkdal mines.

Mandalay Resources Corporation has successfully completed the sale of its Cerro Bayo mine in Southern Chile to Equus Mining Limited. In exchange for 587,502,438 ordinary shares, Mandalay also retains a 2.25% net smelter royalty once production reaches at least 50,000 ounces of gold equivalent. The company is responsible for 50% of approved site closure costs. Mandalay's President and CEO expressed optimism for Equus's future development of the mine, highlighting mutual benefits from this transaction.

Mandalay Resources Corporation (MNDJF) reported solid financial results for Q3 2021, marking its seventh consecutive profitable quarter. The company achieved consolidated revenue of $52.6 million, a 6% increase year-over-year, with adjusted EBITDA of $25.1 million. Adjusted net income stood at $10.1 million ($0.11 per share), despite facing $5.5 million in delayed revenue due to COVID-19 shipping issues. Costerfield's cash cost was reported at $546 per gold equivalent ounce, the lowest since Q1 2016, while Björkdal continued to see stable production.

Mandalay Resources Corporation (MNDJF) will release its third quarter 2021 financial results after market close on November 9, 2021. Following this, a conference call with President and CEO Dominic Duffy will be held on November 10, 2021, at 8:00 AM (Toronto time) for investors and analysts. The company focuses on mining operations in Australia, Sweden, and Chile, aiming to enhance production and reduce costs for substantial cash flow. Key objectives include mining high-grade ore at Costerfield and increasing production at Björkdal.

Mandalay Resources Corporation (MNDJF) reports positive results from its recent drilling at Brown's Prospect, 2 km east of the Youle mine. The 17-hole diamond drill program confirmed a significant gold system with high-grade intercepts, including 19.5 g/t gold over 1.01 m in BWN009. The drilling identified two main mineralized trends, Felix and Western, with promising potential for further gold deposits at depth. The ongoing exploration indicates similarities to rich goldfields nearby, enhancing investor confidence in potential future discoveries.

Mandalay Resources Corporation (MNDJF) reported strong Q3 2021 results, producing 33,121 ounces of gold equivalent, the highest since Q4 2017. The sales reached 29,752 ounces, also a four-year peak. Key highlights include:

• Costerfield produced a record 18,946 ounces.
• Production guidance for 2021 raised to 105,000-117,000 ounces.
• Steady improvement in Björkdal production.

However, delays in shipments due to global logistics challenges may affect Q4 revenues.

Mandalay Resources Corporation announced that Equus Mining Limited has exercised its option to purchase the Cerro Bayo mine in Southern Chile. This transaction, set for completion on December 1, 2021, involves Equus acquiring 100% of the mine in exchange for 19% of its share capital and a 2.25% net smelter royalty on future production above 50,000 ounces of gold equivalent. Equus will also assume half of the approved site closure costs. The deal awaits specific conditions, including Equus shareholder approval.

Mandalay Resources Corporation (MNDJF) announced significant progress in its Costerfield operation, Victoria, with the southern extension of the Shepherd Zone now totaling 500 meters. Recent drilling reveals five distinct veins, including high-grade intercepts of gold and antimony. Notable results include 399 g/t gold over 0.11 m and 155 g/t gold with 10.5% antimony over 0.11 m. The Costerfield Deeps project has also shown visible gold at depths of 998 m and 1,169 m. This mineralization indicates a broader system with promising growth potential in one of the world's highest-grade gold mines.