TORONTO, Oct. 15,
2024 /PRNewswire/ -- Mandalay Resources Corporation
("Mandalay" or the "Company") (TSX: MND) (OTCQB: MNDJF) is pleased
to announce the appointment of John
Jentz as an independent director of the Board of Directors
(the "Board"), effective immediately.
Mr. Jentz brings over 20 years of experience in mining
operations, board governance and M&A investment banking. Among
his significant contributions to the industry is his role in the
growth of SEMAFO, a gold mining company that successfully acquired,
developed, and operated four mines, leading to its eventual
C$1 billion sale. Mr. Jentz holds an
HBSc degree from the University of Western
Ontario, an MBA from McMaster
University, and is Chartered Professional Accountant
(CPA).
Bradford Mills, Executive Chair,
commented:
"On behalf of the Board, I'm thrilled to welcome John to
Mandalay as our new independent director. His extensive industry
experience and track record in building successful mining
operations will be invaluable as we continue to execute our
strategic initiatives."
About Mandalay Resources Corporation:
Mandalay Resources is a Canadian-based natural resource company
with producing assets in Australia
(Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is
focused on growing its production and reducing costs to generate
significant positive cashflow. Mandalay is committed to operating
safely and in an environmentally responsible manner, while
developing a high level of community and employee engagement.
Mandalay's mission is to create shareholder value through the
profitable operation and continuing the regional exploration
program, at both its Costerfield and Björkdal mines. Currently, the
Company's main objectives are to continue mining the high-grade
Youle vein at Costerfield, ramping up production from deeper
Shepherd veins, both of which will continue to supply high-quality
ore to the processing plant, and to extend Mineral Reserves. At
Björkdal, the Company will continue to produce from the Aurora zone
and other higher-grade areas in the coming years, in order to
maximize profit margins from the mine.
Forward-Looking Statements:
This news release contains "forward-looking statements"
within the meaning of applicable securities laws. Readers are
cautioned not to place undue reliance on forward-looking
statements. Actual results and developments may differ materially
from those contemplated by these statements depending on, among
other things, changes in commodity prices and general market and
economic conditions. The factors identified above are not intended
to represent a complete list of the factors that could affect
Mandalay. A description of additional risks that could result in
actual results and developments differing from those contemplated
by forward-looking statements in this news release can be found
under the heading "Risk Factors" in Mandalay's annual information
form dated March 28, 2024, a copy of
which is available under Mandalay's profile at
www.sedar.com. In addition, there can be no assurance
that any inferred resources that are discovered as a result of
additional drilling will ever be upgraded to proven or probable
reserves. Although Mandalay has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
For Further Information: Frazer Bourchier, President and Chief
Executive Officer; Edison Nguyen, Director, Business
Valuations and IR; Contact: 647.258.9722
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