Mandalay Resources Corporation Announces Filing of Annual Information Form and Updated NI 43-101 Technical Reports for its Cerro Bayo and Costerfield Projects, Announces Annual General and Special Meeting Date

TORONTO, March 28, 2014 /CNW/ - Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND) announces that it has filed its Annual Information Form for the year ended December 31, 2013. The Annual Information Form can be accessed under the Company's profile at www.sedar.com and on the Company's website at
www.mandalayresources.com.

Mandalay has also filed updated National Instrument 43-101 ("NI 43-101") compliant technical reports documenting its recent work at its Cerro Bayo silver-gold mine in Chile and its Costerfield gold-antimony mine in Australia. These technical reports can be accessed under the Company's profile at www.sedar.com and on the Company's website at
www.mandalayresources.com.

The technical report in respect of Cerro Bayo, entitled "Technical Report on the Cerro Bayo Project, Region XI (Aysen), Chile" and dated March 27, 2014, was prepared by Roscoe Postle Associates Inc., authored by Normand L. Lecuyer (P.Eng.) and Rosmery Julia Cárdenas Barzola, MAusIMM CP (Geo), both independent Qualified Persons under NI 43-101.

The technical report in respect of Costerfield, entitled "Mandalay Resources Corporation: Costerfield Operation, Victoria Australia: Mineral Resource and Mineral Reserve Technical Report: SRK Project No. PLI014" and dated March 28, 2014, was prepared by SRK Consultants ("SRK"), authored by Peter Fairfield, Principal Consultant (Project Evaluation), BEng (Mining), FAusIMM (No: 106754); and Brett Muller, SRK Associate, Principal Consulting Engineer (Metallurgy), B.Eng. (Minerals Engineering and Extractive Metallurgy), B.Com. (Finance); Bob Lindbury, all independent Qualified Persons under NI 43-101.

Annual General and Special Meeting
Mandalay is also announcing the date and location for its Annual General and Special Meeting, which will be held in Toronto at The Trump International Hotel and Tower, 325 Bay Street, Toronto, in Salon 3 on Tuesday, May 6, 2014 at 2 pm.

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

Bradford Mills
Chief Executive Officer

Greg DiTomaso
Investor Relations

Contact:
647.260.1566