Working the Strategy: Growing Cash Flow and Exploration Success

Mandalay Resources creates shareholder value through the acquisition of advanced or producing mineral resource properties at deep discounts to the value that we believe can be delivered through application of new exploration or development insight and operating discipline. The Corporation is growing a critical mass of producing properties within three years that will contain extensive, self-funding organic growth opportunities and generate substantial free cash flow to support further acquisitions or dividends.

Exploration Success at Cerro Bayo:

- Producing Mine or Planned Mine (Vein Outcrop)
- Exploration Vein