Malaga discovers new tungsten mineralized vein structures at Pasto Bueno



    Malaga Inc. (malaga)
    Symbol: MLG
    Toronto Stock Exchange (TSX)

    MONTREAL, March 3 /CNW Telbec/ - 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.

    
    -------------------------------------------------------------------------
                             Depth of the      Structure  Mineralized    WO3
    Drill Hole  Vein         intersection(m)     width(m)     width(m)    (%)
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    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 Sanchez, Chief Geologist, graduated from the Universidad National
de Ingenieria in Peru and is Malaga's Qualified Person ("QP") with respect to
the technical information contained in this press release. Thus, Mr. Sanchez
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 further information:

For further information: 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; Eric Saint-Pierre,
estpierre@renmarkfinancial.com; (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com

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