Malaga Inc.

Published : February 20th, 2007

To Spin Off Gold Assets To Shareholders

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Keywords :   Canada | Gold | Growth | Peru | Tungsten |

DYNACOR TO SPIN OFF GOLD ASSETS TO SHAREHOLDERS

Montreal, Quebec, February 20, 2007 - Dynacor Mines Inc. (TSX: DYN) is pleased to announce its intention to roll over its gold assets into a new subsidiary and to give its shareholders ownership of such subsidiary. Dynacor will continue to focus on developing its tungsten production at the Pasto Bueno mine, in Peru.

"The creation of this new company is further evidence of Dynacor's focus on maximizing value and profitable growth. The transaction reflects the different business characteristics of the new company and those of the on-going Dynacor. It also provides our shareholders with two distinct investment alternatives," said Marc Blais, president and chief executive officer of Dynacor.

The new company, to be named later, will have all the current gold assets of Dynacor, namely the Acari mine and all the gold exploration properties, which include the Tumipampa and Casaden properties.

Acari Operations
In 2005, the Acari mine generated an operating profit of $1,032,979 from the 14,300 ounces of gold produced from the custom milling operations. During 2006, the mill capacity was enlarged from 60 to 100 t/d and will be increased again in 2007 to be able to process 130 t/d.

Tumipampa Property
The Tumipampa property was acquired in 2001. In 2002 and 2003, sixteen holes were drilled for a total of 4,055 metres. As of today, six major veins have been discovered. Drill hole number one intercepted a structure named "Manto Dorado" grading 7.33 g/t Au and 0.71% Cu on 5.18 metres (true width). Drill hole number three intercepted a structure grading 8.20 g/t Au and 0.06% Cu on 3.39 metres. Finally, drill hole number six intercepted a vein grading 12.25 g/t Au on 1.30 metre.

The Plan
The plan is for the new company to be domiciled in Canada and to list its shares on a recognizable Canadian stock exchange.

The current directors and officers of Dynacor will be the first directors and officers of the new company.

The intended spin-off will be in the form of a pro-rata distribution of common stock of the new company, which is expected to be available on a tax neutral basis to the majority of Dynacor shareholders. The capital structure of the two companies at the time of the spin-off will be optimized according to their respective financial requirements and opportunities. As part of the transaction, it is contemplated that the new company will raise equity to finance the exploration programs on its gold properties.

The transaction is contingent upon a number of conditions including the receipt of required regulatory approvals. Assuming these conditions are met, Dynacor expects to complete the transaction in April 2007.

In due course, information relating to the transaction, including a prospectus, will be prepared and distributed to holders of Dynacor common shares. Record and distribution dates for the spin-off of the new company, as well as the other details relating to the distribution of the new company's shares will be established prior to completion of the transaction.

Iv�n Quiroz, General Manager and Director, is a mining engineer and metallurgist, and a member of the Collegio de Ingenieros del Per�. He is the Qualified Person ("QP") and is responsible for the technical information contained in this press release.

For more information, please contact:

Marc Blais, President  
Dynacor Mines Inc.  
450-667-3224  

Jean Martineau, Chairman of the Board
Dynacor Mines Inc.
450-667-3224

Renmark Financial Communications Inc.

Sylvain Laberge: ! slaberge@renmarkfinancial.com
Danielle Velez : dvelez@renmarkfinancial.com
Media: Vanessa Napoli : vnapoli@renmarkfinancial.com
Tel.: (514) 939-3989  Fax: (514) 939-3717
www.renmarkfinancial.com

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