Mandalay Resources Corporation Announces Changes to its Management Team and Announces Annual General and Special Meeting Date

TORONTO, March 19, 2013 /PRNewswire/ --

Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND) is pleased to announce that its Board of Directors have approved changes to the Company's senior management team. Effective today, Mark Sander has been promoted from Chief Operating Officer of the Company to President, Dominic Duffy, formerly General Manager, Cerro Bayo Operations has been promoted to Chief Operating Officer, and Kalenci Flores has been appointed General Manager, Cerro Bayo Operations.

Brad Mills, Chief Executive Officer and Director of Mandalay, commented "We are excited by this positive development in our Company's management team. We believe these appointments strengthen our Company's leadership and are important to the continued future growth of Mandalay. We are pleased to welcome Dr. Sander, Mr. Duffy, and Mr. Flores to their new roles."

Dr. Mark Sander holds a PhD in Ore Deposits and Exploration from Stanford University (USA) and has been active in the mineral resource industry for the last 25 years in operations, strategy and exploration, with a focus on copper, gold and platinum projects. Prior to joining Mandalay, Dr. Sander's industry experience included serving as Vice President of Strategy and Planning for BHP Billiton's copper group.

Dominic Duffy holds a BEng in Mining Engineering from the University of New South Wales (Sydney, Australia). Mr. Duffy has extensive technical and operational management experience having worked at numerous operations throughout Australia and Latin America. Prior to joining Mandalay, Mr. Duffy most recently worked for Coeur d'Alene Mines and Hecla Mining Company in South America.

Kalenci Flores is a mining engineer who holds a degree from the Universidad de Oriente in Ciudad Bolivar, Venezuela. Mr. Flores has over ten years of experience, having worked for several multinational mining companies in Venezuela, Argentina, and Chile. Mr. Flores has extensive experience in both technical service and management roles specializing in underground mining operations. Prior to joining Mandalay, Mr. Flores worked for Coeur d'Alene Mines.

Annual General and Special Meeting

Mandalay's Annual General and Special Meeting will be held in Toronto at Fairmont Royal York, Library room on Wednesday, May 15, 2013 at 11 am.

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.

For further information:

Bradford Mills
Chief Executive Officer
Greg DiTomaso

Investor Relations Contact:
+1-647-260-1566