Last updated on April 19, 2014 at 21:20 EDT

Mandalay Resources Corporation Reports Fatality at Cerro Bayo Operations

July 15, 2013

TORONTO, July 15, 2013 /CNW/ – Mandalay Resources Corporation
(“Mandalay” or the “Company”) (TSX: MND) regretfully announces the
fatality of one of its employees in an incident that occurred yesterday
at its Cerro Bayo operation in Aysen, Chile.

The incident was immediately reported to authorities and an
investigation into the incident is currently underway. Operations at
Cerro Bayo are temporarily suspended and the Company is now working
closely with the authorities, employees, and the family of the deceased
to respond effectively.

Brad Mills, Chief Executive Officer of Mandalay, commented: “We deeply
regret this incident and are focused on the immediate needs of the
deceased’s family and providing support for our employees and workers
on site. Our thoughts are with them.”

About Mandalay Resources Corporation:

Mandalay Resources is a Canadian-based natural resource company with
producing assets in Australia and producing and exploration projects in
Chile. The Company is focused on executing a roll-up strategy, creating
critical mass by aggregating advanced or in-production gold, copper,
silver and antimony projects in Australia and the Americas to generate
near-term cash flow and shareholder value.

SOURCE Mandalay Resources Corporation

Source: PR Newswire