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Malaga Inc.: Update on Mining Operations
Published : November 09, 2012
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Keywords :   Copper | Malaga | Reliance | Tungsten |

MONTRÉAL, QUÉBEC--(Marketwire - Nov. 9, 2012) - Malaga Inc. ("Malaga" or the "Corporation") (News - Market indicators)(OTCQX:MLGAF) announces that it has suspended mining operations at its Pasto Bueno tungsten mine putting the mine on care and maintenance. Malaga had previously announced, on October 22, 2012, that its tungsten process plant had been put in care and maintenance due to the accident which caused the power outage at Pasto Bueno (see press release - October 22). During this period, adequate security measures of the plant and mine site have been put in place and will continue up to the restart of both the plant and mine.

Suspension of mining operations is one of the measures implemented by Malaga to reduce its costs and preserve cash. The Corporation is still working to secure financing to resume mine and plant operations and pursue its objectives related to mine development and production.

In addition, Malaga is currently in negotiations to monetize all the copper by-product by the end of the current year and also intends to monetize other assets.

"We intend to return to full production once we secure the necessary financing and will also review the mine development plan to improve operational efficiency" said Pierre Monet, President and CEO. "We continue to work closely with our stakeholders to mitigate the consequences of suspending our mining operations".

Malaga also announces that repairs to its hydro-electric line are underway; materials have been purchased and transportation of equipment to site is planned. Repair should be completed by the end of November.

Forward-looking Statement

This news release contains certain forward-looking statements or forward looking-information. These forward looking statements are subject to a variety of risks and uncertainties beyond the Corporation's ability to control or predict which could cause actual events or results to differ materially from those anticipated in such forward looking statements. Such risks and uncertainties are disclosed under the heading "Risk Factors" in the Corporation's Annual Information Form for the year ended December 31, 2011 and dated March 27, 2012. Further, forward-looking information is in addition based on various assumptions, including, without limitation, the expectation and beliefs of management, the assumed long term price of tungsten, that the Pasto Bueno property is a technical viable and economic operation and that the Corporation can access financing. Should one or more of these risks and uncertainties materialize, or should the underlying assumption prove incorrect or different, actual results may vary materially from those described in the forward-looking statements. The information provided reflects management's current expectations regarding future events and performance as of the date of this news release. Accordingly, readers should not place undue reliance on forward-looking statements.



Nicole Blanchard
Corporate Strategy and Investor Relations
Sun International Communications
450-973-6600
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Malaga Inc.

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CODE : MLG.TO
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In the News and Medias of Malaga Inc.
7/9/2011Tungsten miner Malaga bets metal price not yet maxed out
7/5/2011Tungsten in same boat as rare earths - Malaga CEO
3/10/2010Tungsten-miner Malaga eyes 2nd mill, acquisitions
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
11/14/2011Reports Financial Results for Third Quarter 2011
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.
10/18/2011(Pasto Bueno)Results From Malaga Drilling Identify High Tungsten Values A...
5/31/2011(Pasto Bueno)Announces a $1.5 Million Diamond Drilling Campaign in the Co...
10/27/2008A Clarification Regards the Technical Report Published in 20...
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 ...
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
3/19/2013Provides Update
12/21/2012Enters Into Loan Facility with a Peruvian Bank and Provides ...
11/15/2012Announces its Q3 Results
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 ...
11/9/2011Result From Malaga Drilling Come Up Better Than Previously A...
10/4/2011Joins OTCQX-"MLGAF"
9/27/2011(Pasto Bueno)s on New Drilling Results at Pasto Bueno Mine
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
11/17/2010Announces Changes in Senior Management as it Prepares to Exp...
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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