4 June 2014
TORONTO, ON and VANCOUVER, BC, June 4, 2014 – Mandalay Resources Corporation ("Mandalay") (TSX: MND) and Elgin Mining Inc. ("Elgin") (TSX: ELG) announced today that they have entered into an arrangement agreement pursuant to which Mandalay will acquire all of the outstanding common shares of Elgin for consideration consisting of C$0.37 cash or 0.4111 of a Mandalay common share per Elgin common share, subject to pro ration. The total transaction value is approximately C$70 million.