Press release from CNW Group
Mandalay Resources Corporation Receives Notice of Lifting of Force Majeure from Dowa Metals and Mining Co.
Thursday, April 14, 2011
Mandalay Resources Corporation Receives Notice of Lifting of Force Majeure from Dowa Metals and Mining Co.08:45 EDT Thursday, April 14, 2011TORONTO, April 14 /CNW/ - Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, MND.WT) is pleased to announce that it has received formal notification from Dowa Metals and Mining Co. ("Dowa") of the cessation of force majeure at Dowa's Kosaka smelter. Force majeure was originally declared on March 16th as a result of the Japanese earthquake. The Company is very encouraged by this rapid return to normal operations at Kosaka and expects to resume shipments of concentrates from its Cerro Bayo silver-gold mine before the end of the month, with the normal shipping schedule to resume in May. Mandalay has maintained normal operations at Cerro Bayo during the force majeure period, stockpiling concentrates. All sales that were delayed during the force majeure declaration are expected to be completed over the next six months.About Mandalay Resources Corporation: Mandalay is a Canadian-based natural resource company with producing assets in Australia and producing 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. 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: email@example.com 647.260.1566