Mandalay Resources Corporation Announces the Results of its Annual and Special Meeting of Shareholders

TORONTO, May 7, 2014 /PRNewswire/ --

Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND) is pleased to announce the results of its Annual and Special Meeting of Shareholders held today in Toronto, Ontario. All of the resolutions presented at the meeting were approved by the shareholders, with the votes cast by proxy representing 63% of the total shares outstanding as of the record date.

Election of Directors 

The number of directors was fixed at six members and each of the six nominees listed in the Company's management information circular dated April 4, 2014 (the "Circular") were re-elected to the Company's Board of Directors. Abraham Jonker remains Chairman. The vote was conducted by a show of hands. Detailed results of the votes cast by proxy are set out below.

                                                         Votes Cast by
    Nominee           Votes Cast by Proxy For    % For  Proxy Withheld  % Withheld
    Abraham Jonker                208,998,522    99.32       1,424,200        0.00
    Robert Doyle                  210,203,822    99.90         218,900        0.00
    Anthony Griffin               208,875,266    99.26       1,547,456        0.00
    Peter R. Jones                210,207,822    99.90         214,900        0.00
    Bradford A. Mills             210,207,322    99.90         215,400        0.00
    Sanjay Swarup                 208,997,522    99.32       1,425,200        0.00

Appointment of Auditors 

Deloitte LLP was appointed as the auditor of the Company to hold office until the close of the next annual meeting of the Shareholders, or until their successor is otherwise appointed and the directors were authorized to fix the auditor's remuneration.

Stock Option Plan 

The resolution to renew, approve and adopt the Company's existing stock option plan and to approve all unallocated options, rights and entitlements thereunder was passed.

About Mandalay Resources Corporation 

Mandalay is a Canadian-based natural resource company with producing and development assets in Australia and 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

(MND.)