High-Grade Skarn Discovered Near Existing Mine Development At Bjorkdal

TORONTO – Mandalay Resources Corporation reported on continued exploration success at its Björkdal mine in Sweden, including the exciting discovery of a new underground high-grade skarn zone near existing mine development which could bring higher grades to the mill in the near-term. Additionally, ongoing infill and extension drilling to grow resources at the Main and North Zones are delivering above expectation.

Chris Davis, VP of Exploration and Operational Geology, said, “The discovery of a high-grade skarn lens near mining infrastructure in Lake Zone has the potential to deliver higher-grade feed to the mill in the near term. Contiguous and near mine exploration momentum from 2024 has continued throughout 2025, with infill and extension drilling at the North and Main Zones yielding exceptional results. With additional drilling and model refinement underway across all three zones, we are well-positioned to grow our robust mining inventory at Björkdal as well as targeting higher grade margins within the deposit for near term plant processing.

“In the second half of 2025, our focus will be definition drilling at this newly discovered Lake Zone Skarn; ongoing programs at the Main Zone of Eastern Extension; further expansion of North Zone below marble; and an 8,000 metres drill campaign at Storheden to expand and upgrade this promising resource, located just 700 meters from existing underground development, back in 2023.”