About Mandalay Resources

Mandalay Resources Corporation engages in the acquisition, exploration, extraction, processing, and reclamation of various mineral properties. The company is holding its La Quebrada copper-silver project near La Serena, Chile, and its Lupin and Ulu gold projects in Nunavut, Canada, for sale. Properties Björkdal Björkdal is a 100% owned underground and open pit gold mine located in northern Sweden. It was acquired through the company’s acquisition of Elgin Mining in September 2014. The concentrator processes 3,500 tonnes per day and has been permitted to expand to 4,300 tonnes per day. Costerfield Costerfield is a 100%-owned underground gold-antimony mine located in the state of Victoria, Australia. Cerro Bayo Cerro Bayo is a 100%-owned underground silver-gold mine located in the Aysen Province of southern Chile, purchased while on care and maintenance in August, 2010. Challacollo Challacollo is a 100% owned silver-gold deposit located in Region I, Northern Chile. The company completed an independent NI 43-101 Mineral Resource estimate for this development property in conjunction with its acquisition of the property in February 2014. During 2017, the company discovered water supply in four water exploration holes drilled on concessions approximately 30 km down-gradient of the deposit. It is in the process of perfecting its water rights and permitting additional exploration drilling sites. La Quebrada La Quebrada is a 100% owned copper-silver project located near La Serena, Chile. It is holding the asset for sale. Lupin/Ulu The Lupin and Ulu gold projects in Nunavut, Canada were acquired with the Elgin acquisition and are held for sale as non-core assets. Lupin is a past-producing underground mine-mill complex on care and maintenance and Ulu is a nearby advanced exploration stage project. In October 2016, the company entered into a definitive agreement for the sale of the Lupin and Ulu gold projects to WPC Resources Inc. History Mandalay Resources Corporation was incorporated in 1997.