Mandalay Resources Corporation: Announces the Results of its Annual General Meeting of Shareholders
TORONTO, May 12, 2016 - Mandalay Resources Corp. ("Mandalay" or the "Company") (TSX:MND) is pleased to announce the results of its Annual General 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 68.63% of the total shares outstanding as of the proxy cut-off date, May 10, 2016. Election of Directors
The number of directors was fixed at five members and each of the five nominees listed in the Company's management information circular dated April 15, 2016 (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 Executive Chairman. The vote was conducted by a show of hands. Detailed results of the votes cast by proxy are set out below.
| Nominee | Votes Cast by Proxy For | % For | Votes Cast by Proxy Withheld | % Withheld |
| Abraham Jonker | 266,375,274 | 99.72 | 760,298 | 0.28 |
| Robert Doyle | 261,417,372 | 97.86 | 5,718,200 | 2.14 |
| Peter R. Jones | 261,418,372 | 97.86 | 5,717,200 | 2.14 |
| Bradford A. Mills | 266,715,274 | 99.84 | 420,298 | 0.16 |
| Mark Sander | 266,720,964 | 99.84 | 414,608 | 0.16 |
Appointment of Auditors
Ernst & Young LLP was appointed as the auditor of the Company to hold office until the close of the next annual meeting of the Shareholders, or until their successor is otherwise appointed and the directors were authorized to fix the auditor's remuneration.
About Mandalay Resources Corporation
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia, Chile and Sweden, and a development project 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, the Americas, and Europe to generate near-term cash flow and shareholder value.
For Further Information Mark Sander President and Chief Executive Officer Greg DiTomaso Director of Investor Relations Contact: 647.260.1566
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Mandalay Resources Corp. via Globenewswire
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