Mandalay Resources Corporation Announces the Results of its Annual and Special Meeting of Shareholders and Filing of Initial ESTMA Report

TORONTO, May 11, 2017 (GLOBE NEWSWIRE) -- 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 74.27% of the total shares outstanding as of the proxy cut-off date, May 9, 2017.

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 11, 2017 (the "Circular") were re-elected to the Company's Board of Directors. Abraham Jonker remains the lead independent director and Bradford Mills continues as the Chair. The vote was conducted by a show of hands. Detailed results of the votes cast by proxy are set out below.

Motion	Votes Cast by Proxy For	% For	Votes Cast by Proxy Withheld	% Withheld
Number of Directors	335,006,431	99.97	93,232	0.03
Abraham Jonker	314,102,561	99.68	1,000,716	0.32
Amy Freedman	314,446,995	99.79	656,282	0.21
Bradford A. Mills	311,821,079	98.96	3,282,198	1.04
Mark Sander	314,767,313	99.89	335,964	0.11
Peter R. Jones	314,655,405	99.86	447,872	0.14
Robert Doyle	314,531,812	99.82	571,465	0.18

Appointment of Auditors