Working the Strategy: Growing Cash Flow and Exploration Success

Mandalay Resources creates exceptional shareholder value through the acquisition of undervalued assets that can rapidly become cash generative, self fund exploration, establish and maintain high operating margins and return cash to shareholders within a planned period of time. Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement.

Exploration Success at Cerro Bayo:

- Producing Mine or Planned Mine (Vein Outcrop)
- Exploration Vein
- 2012 Infill/Extensional Drilling