Malaga Inc.

Published : March 03rd, 2008

discovers new tungsten mineralized vein structures at Pasto Bueno

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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.

Drill Hole

 

Vein

Depth of the intersection (m)

Structure width (m)

Mineralized width (m)

WO3 (%)

 

 

 

 

 

 

HHD6

Sauco

240.75 - 243.42

1.89

0.8

0.29

 

Santa Marta

285.30 - 286.10

0.8

0.7

1.66

 

 

 

 

 

 

HHD7

Paraiso

467.45 - 467.72

0.27

0.27

4.83

 

(veinlet)

489.17 - 489.25

0.08

0.08

1.98

 

 

 

 

 

 

HHD8

Santa Marta

302.42 - 303.90

1.48

1.48

0.974

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

Data and Statistics for these countries : Peru | All
Gold and Silver Prices for these countries : 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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