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Malaga Appoints Three New Board Members
Published : June 23, 2011

Launches Exploration Program to Support Growth Phase as Tungsten Reaches Record Prices

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Keywords :   Australia | Canada | China | Coal | Copper | Debt | Gold | Gold Mines | Growth | Indonesia | Iron | Market | Oil | Peru | Tungsten |

MONTREAL, QUEBEC--(Marketwire - June 23, 2011) - Malaga Inc. (News - Market indicators), a leading producer of tungsten, today announced that Ms. Anne-Marie Sheahan, Mr. Quinn Roussel, and the Company's President, Mr. Pierre Monet, have joined Malaga's Board of Directors. Adding substantial senior management experience to the Company's already solid leadership team, the appointments are intended to help support Malaga as it pursues its growth. The 2011 expected production at the Pasto Bueno tungsten mine is 80,000 MTUs, and a new exploration program is underway to increase its resources as the price of APT, a semi-finished product of tungsten, reaches record prices of US $460-485.

Ms. Sheahan is the senior partner of Sheahan and Partners, a law firm specializing in environmental counselling, new regulation analysis, and environmental issues arising in commercial transactions. She is an executive member of the National Environmental, Energy and Resources Law Section of the Canadian Bar Association, as well as a member of the Permanent Committee on the Environment of the Quebec Bar. She has also authored several articles on environmental law which have appeared in a variety of publications. Since 1997, Ms. Sheahan has been listed as a leading lawyer in environmental law in the Canadian Legal Lexpert Directory, and she is ranked "Band 1 – Notable Practitioner" for Canada in the British directory Chambers Global. Additionally, she has been included in Martindale Hubbell, PLC Which Lawyer, Best Lawyers in Canada, Who's Who Legal for Canada and the World Leading Environmental Lawyers. Ms. Sheahan received BCL and LLB degrees from McGill University in 1989 and was admitted to the Quebec Bar in 1991. 

Mr. Roussel is a Principal with Resource Capital Fund (RCF) of Denver, Colorado and Perth, Australia. He holds a degree in Mining Engineering from the Colorado School of Mines and Masters of Business Administration from the University of South Carolina and the Wirtschafts Universitat Wien. His career has focused entirely within the minerals industry, with prior direct engineering experience in operating coal, gold and oil assets. Mr. Roussel also brings international business experience, having worked as Director of Business Development of Asian American Coal in China where he focused on acquisitions and financing, and as an Associate focused on Pacific Rim and African projects for RCF's Perth office in Australia. Mr. Roussel also serves on the Board of Directors of Finders Resources Limited, an Australian listed company with a development stage copper heap leach SX/EW project and a gold exploration project in Indonesia.

Mr. Monet was named President of Malaga in November 2010.Previously he served as Vice-President and Chief Financial Officer (since 2007), during which time he helped restructure Malaga, spin off Dynacor Gold Mines, negotiate a long-term contract with a major tungsten user and arrange debt and equity financings. Mr. Monet has close to 15 years of experience in the resources industry, 10 of which were at Iron Ore Company of Canada, a subsidiary of Rio Tinto, and Alliance Forest Products. He is an experienced finance professional who has managed major acquisition, restructuring and financing projects for public and private companies. Mr. Monet has been a member of the Chartered Institute of Canadian Accountants since 1986.

ABOUT MALAGA INC.

Malaga Inc. owns and operates the Pasto Bueno tungsten mine in Peru and is one of the few publicly-traded producers of tungsten outside of China. Malaga is a low cost producer due to its gravimetric ore concentration process and the availability of hydroelectric power at Pasto Bueno. Malaga's current production accounts for 15% of the tungsten produced outside of China. The Company plans to increase production and explore the property to develop its reserves and resources.

FORWARD‐LOOKING STATEMENTS

Certain statements in the foregoing may constitute forward‐looking statements which involve known and unknown risks, uncertainties and other factors that may cause Malaga's actual results, performance or achievements or industry results to be materially different from any future result, performance or achievement expressed or implied by such forward‐looking statements. The information provided reflects management's current expectations regarding future events and performance as of the date of this news release.



Jean Martineau
Chairman of the Board and Chief Executive Officer
Malaga Inc.
514 288-3224
or
Pierre Monet
President
Malaga Inc.
514 288-3224
or
Nicole Blanchard
Corporate Strategy and Investor Relations
Sun International Communications
450 973-6600
Data and Statistics for these countries : Australia | Canada | China | Indonesia | Peru | All
Gold and Silver Prices for these countries : Australia | Canada | China | Indonesia | Peru | All

Malaga Inc.

PRODUCER
CODE : MLG.TO
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Malaga is a gold and tungsten producing company based in Canada.

Malaga holds various exploration projects in Peru.

Its main asset in production is PASTO BUENO in Peru.

Malaga is listed in Canada and in United States of America. Its market capitalisation is CA$ 918 375 as of today (US$ 881 456, € 674 490).

Its stock quote reached its highest recent level on June 20, 2008 at CA$ 0.49, and its lowest recent point on July 15, 2013 at CA$ 0.01.

Malaga has 183 675 000 shares outstanding.

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Annual reports of Malaga Inc.
2007 Annual Report
Nominations of Malaga Inc.
12/2/2011Announces Appointment of Pierre Monet as President and Chief...
6/23/2011Appoints Three New Board Members
7/8/2008appoints Paul Cregheur to the Board of Directors
6/26/2008appoints three new Directors
12/20/2007Appoints a new board member
Financials of Malaga Inc.
4/3/2013Publishes Year-End Results
8/22/2008Q2 2008 financial results and outlook for 2008
4/14/2008Reports its year end financial results for 2007
11/15/2007reports net earnings in its third quarter 2007
8/16/2007Reports $6,749,432 revenue from the sale of gold and tungste...
5/23/2007reports sales of $2.3 million of tungsten concentrate for th...
4/13/2007files its audited consolidated financial statements and anno...
Project news of Malaga Inc.
5/31/2011(Pasto Bueno)Announces a $1.5 Million Diamond Drilling Campaign in the Co...
4/24/2008(Pasto Bueno) Pasto Bueno: Commissioning of the first phase of the Pasto ...
3/3/2008(Pasto Bueno)discovers new tungsten mineralized vein structures at Pasto ...
11/13/2007(Pasto Bueno) Pasto Bueno: Drilling Reveals New Tungsten Mineralized Zone...
5/15/2007(Pasto Bueno)commercial production begins at the Pasto Bueno mine
Corporate news of Malaga Inc.
6/6/2013Files a Notice of Intention to Make a Proposal Under the Ban...
5/21/2013Publishes Q1 Results
4/9/2013Sells Its Hydro Electric Power Plant
11/9/2012Update on Mining Operations
11/9/2012Update on Mining Operations
10/22/2012(Pasto Bueno)Pasto Bueno Process Plant in Care and Maintenance
10/22/2012(Pasto Bueno)Pasto Bueno Process Plant in Care and Maintenance
8/15/2012Announces Its Q2 Results
5/9/2012Maintains Profitability and Generates Cashflow From Operatin...
4/17/2012to Recover Additional Tungsten From Its Tailings Pond
3/28/2012Improves Profitability and Generates a Net Income of $5.6M a...
2/27/2012(Pasto Bueno)Increases Its Resources by More Than 140% and Its Reserves b...
2/16/2012to Build New Hydroelectric Plant in Peru
1/9/2012(Pasto Bueno)Announces Appointment of Fernando Pajuelo Rincon as General ...
10/4/2011Joins OTCQX-"MLGAF"
8/15/2011Reports Financial Results for Second Quarter 2011: Generates...
6/17/2011Generates a Net Income of $0.8 Million and an EBITDA of $1.3...
5/20/2011Says it is Not Aware of Any Undisclosed Development That Wou...
4/11/2011Reports Record Sales of US $4.5 Million in the First Quarter...
3/31/2011Reports Income of $1.1 Million From Mining Activities
10/30/2007 Announces the Final Distribution Ratio of Dynacor Gold Mine...
9/26/2007senior management changes within the company
7/17/2007Change of corporate name and trading symbol (previously Dyna...
4/17/2007has 100% ownership of its Acari property in Peru
3/21/2007signs an engagement letter of up to CA$5 million with D&D Se...
2/20/2007To Spin Off Gold Assets To Shareholders
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TORONTO (MLG.TO)OTHER OTC (MLGAF)
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