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Press release from CNW Group

Mandalay Resources announces completion of Cerro Bayo acquisition

Tuesday, August 10, 2010

Mandalay Resources announces completion of Cerro Bayo acquisition19:05 EDT Tuesday, August 10, 2010TORONTO, Aug. 10 /CNW/ - Mandalay Resources Corporation (TSX: MND, MND.WT) ("Mandalay" or the "Company") is pleased to announce that it has completed the previously announced acquisition of Compania Minera Cerro Bayo Ltda., a wholly owned, Chilean subsidiary of Coeur d'Alene Mines Corporation. For further information please see the Company's press release dated August 6, 2010. << 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. << Disclaimer: ----------- >> The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States. << 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. 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: Bradford Mills, Chief Executive Officer; Greg DiTomaso, Investor Relations, Contact: 647.260.1566, Email: g.ditomaso@mandalayresources.com, Company website: www.mandalayresources.com