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Press release from CNW Group

Mandalay Resources receives conditional approval to graduate to TSX

Friday, June 11, 2010

Mandalay Resources receives conditional approval to graduate to TSX07:00 EDT Friday, June 11, 2010TORONTO, June 11 /CNW/ - Mandalay Resources Corporation ("Mandalay" or the "Company") is pleased to announce that it received conditional approval to list its shares on the Toronto Stock Exchange (the "TSX"). The conditional approval is subject to the receipt of standard documentation. Mandalay is presently listed on the TSX Venture Exchange. Mandalay expects that its common shares will commence trading on the TSX shortly and will make a further announcement once the TSX has issued a bulletin confirming the date on which this will occur.Brad Mills, CEO of Mandalay said, "We are extremely pleased to have received conditional listing approval from the TSX. This is a major milestone for the company as it moves forward with its acquisition and growth strategy and will enable us to reach a larger pool of institutional investors." << About Mandalay Resources Corporation: ------------------------------------- >> Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and exploration projects 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 and the Americas to generate near-term cash flow and shareholder value. << Forward-Looking Statements: --------------------------- >> This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements relating to the Mandalay's anticipated graduation from the TSXV to the TSX. 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, Mandalay's ability to satisfy TSX listing requirements. The factors identified above are not intended to represent a complete list of the factors that could affect Mandalay. 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.THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.For further information: Bradford Mills, Chief Executive Officer, Greg DiTomaso, Investor Relations, 647.260.1566, Email: g.ditomaso@mandalayresources.com