Mandalay Announces Receipt of Australian FIRB Approval and Interim Order in connection with its Proposed Merger with Alkane

TORONTO, June 26, 2025 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX: MND, OTCQB: MNDJF) is pleased to announce that approval of the Australian Foreign Investment Review Board (“FIRB”) has been obtained in connection with the Company’s previously announced plan of arrangement under the Business Corporations Act (British Columbia), pursuant to which Alkane Resources Limited (“Alkane”) has agreed to indirectly acquire all of the issued and outstanding common shares of Mandalay (the “Transaction”).

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