Malaga Inc.: Publication schedule for the new NI 43-101 compliant report on the Pasto Bueno property



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

    MONTREAL, Jan. 23 /CNW Telbec/ - Malaga Inc. (TSX: MLG) is pleased to
announce its publication schedule for the new 43-101 compliant resource
estimate for the Company's Pasto property located in the Ancash region of
Peru.
    Despite not having been able to meet the initial deadline fixed by the
regulatory authorities for the publication of 43-101 compliant technical
report, Malaga's geologists assisted by Vector Engineering's team are actively
working to complete this report. Malaga firmly intends to publish this new
report, which will focus on the tungsten resources and reserves at Pasto
Bueno, on its website (www.malaga.ca) and on SEDAR (www.sedar.com) before the
20th of February 2009, as required by the Canadian authorities.
    Pending the release of this report, the Company cannot certify following
National Instrument 43-101 that its Pasto Bueno property contains resources or
reserves. In the interest of transparency for its shareholders the Company
wishes to advise that the publication of this new report could have an effect
on the Company's financial results.
    Finally, Malaga also wishes to underline that despite the fact that it
cannot certify its resources and reserves under NI 43-101 until the new report
has been released, the previous report published in 2006 has enabled Malaga to
maintain a constant level of tungsten production since April 2007 and to have
produced more than 99,000 MTUs of tungsten trioxide (WO3).

    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

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MALAGA INC.

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