An anonymous director reports

MANDALAY RESOURCES PROVIDES TARGET RELEASE DATE FOR FOURTH QUARTER AND FULL-YEAR 2023 FINANCIAL RESULTS AND CONFERENCE CALL

Mandalay Resources Corp.'s fourth quarter and full-year 2023 financial results will be released after market close on Feb. 22, 2024, followed by a conference call with Frazer Bourchier, president and chief executive officer of Mandalay, for investors and analysts on Feb. 23, 2024, at 8 a.m. (Toronto time).

Analysts and interested investors may join by using the following dial-in number:

Participant number (North America toll-free): 1-888-664-6383

Conference ID: 67249025

Alternatively, you may register for the webcast.

A replay of the conference call will be available until 11:59 p.m. (Toronto time), March 1, 2024, and can be accessed using the following dial-in numbers:

Encore number (Canada toll-free): 1-888-390-0541

Encore replay code: 249025

About Mandalay Resources Corp.

Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Bjorkdal gold mine). The company is focused on growing its production and reducing costs to generate significant positive cash flow. 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 Bjorkdal mines. Currently, the company's main objectives are to continue mining the high-grade Youle vein at Costerfield, bring the deeper Shepherd veins into production, both of which are expected to continue to supply high-grade ore to the processing plant, and to extend Youle's mineral reserves. At Bjorkdal, 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.