Process Underway To Restart Cerro Bay Mine

TORONTO, ON, January 15, 2018 — Mark Sander, President and Chief Executive Officer of Mandalay Resources, said, “At Cerro Bayo, where production has remained suspended since the June 9, 2017, inundation, a diligent and committed permitting process is underway to work with regulators to receive the outstanding permits necessary to restart the mine and complete the life of mine plan.”  The Cerro Bayo district is located in southern Chile, just inside the border with Argentina approximately 130 kilometers (“km”) south of Coyhaique, the capital of Region XI. This district is part of an emerging precious metals province containing the Cerro Bayo and El Toqui mines in Chile and several mines and exploration projects extending eastward into Argentina.