Malaga discovers new tungsten mineralized vein structures at Pasto Bueno

Montr�al, Qu�bec, March 3, 2008 - Malaga inc. (TSX : MLG) is very pleased to announce that the most recent drilling data for the Pasto Bueno tungsten mine has lead to the discovery of two new WO₃ mineralized vein structures located on both sides of the Consuelo vein - which is the main vein that is currently being mined.

On the western side of the Consuelo vein, drill hole HHD6 intercepted a new vein (the Sauco vein) at a depth of 240 meters. The vein is made up of quartz, iron oxides and hubnerite (a manganese rich wolframite - MnWO₄). Laboratory analysis revealed 0.29% WO₃ over a 0.8 meter interval.

Drill hole HHD6 also intercepted another new mineralized vein at a depth of 285 meters - the Santa Marta vein. The vein is made up of quartz, hubnerite, galena, tetrahedrite, pyrite, sericite and fluorite and returned a WO₃ concentration of 1.66% over a width of 0.7 meters.

The Santa Marta vein was also intercepted by drill hole HHD8 which was collared 75 meters south and 80 meters lower than drill hole HHD6. The intercept at a depth of 302 meters returned a WO₃ grade of 0.974% over 1.48 meters and was made up of quartz, fluorite, pyrite, hubnerite and sericite.

Drill hole HHD7 was drilled east of the Consuelo vein between the Huaura and Huayllapon sectors. A new vein (named Paraiso) was discovered at a depth of 467 meters. This vein had a width of 0.27 meters and returned a tungsten grade of 4.83% WO₃. Geochemically this vein is very similar to others and is made up of quartz, hubnerite, galena, tetrahedrite, pyrite, sericite and fluorite.

At a depth of 489 meters a veinlet with a width of 0,08 meters was intercepted by drill hole HHD7 and had a grade of 1,98% WO₃. This veinlet contained quartz and hubnerite.

Note: Drill hole HHD5 did not intersect the targeted zone.

UPCOMING RESULTS

Santa Marta Vein
The Santa Marta vein is a significant mineralized structure and its discovery has led the Company's geological exploration team to focus its near term exploration on this structure. Thus, two holes are currently being drilled that are targeted on the Santa Marta vein. These results are expected in the next few weeks and will be released as soon as they are available.

Further Exploration Activities
Drilling of the Chabuca vein in the Huayllapon sector and of the main Consuelo vein are also planned for the near future.

All chemical analysis were done by ALS CHEMEX laboratories in Lima and samples for tungsten was analysed by the ME-XRF-10 method.

Alonso S�nchez, Chief Geologist, graduated from the Universidad National de Ingenier�a in Peru and is Malaga's Qualified Person ("QP") with respect to the technical information contained in this press release. Thus, Mr. S�nchez can testify as required by National Instrument 43-101 and its annexes to the precision and exactitude of the data and the mining and geological knowledge regards the Pasto Bueno property reported in this press release.

ABOUT MALAGA INC.
Malaga Inc. is a tungsten mining company that uses modern, efficient and productive mining technology. The Company is committed to growth, through increasing its tungsten concentrate production, continuing the exploration of the Pasto Bueno property, and through strategic acquisitions. It also seeks diverse growth opportunities such as developing the hydroelectric potential of the Pasto Bueno property, through Hidropesac, in which the Company holds 44%, as well as through its holding in Dynacor Gold Mines Inc., in which the Company owns 13.3%.

FOR MORE INFORMATION, PLEASE CONTACT:

JEAN MARTINEAU 
PRESIDENT & CEO 
MALAGA INC. 
514 288-3224 

CHRISTINA LALLI
INVESTOR RELATIONS
MALAGA INC.
514 288-3224 EXT. 224

RENMARK FINANCIAL COMMUNICATIONS
JAMES BUCHANAN: JBUCHANAN@RENMARKFINANCIAL.COM
�RIC SAINT-PIERRE: ESTPIERRE@RENMARKFINANCIAL.COM
TEL. : 514 939-3989
FAX : 514 939-3717
WWW.RENMARKFINANCIAL.COM