Malaga: Malaga Inc.; senior management changes within the company

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

    MONTREAL, Sept. 26 /CNW Telbec/ - The Board of Directors of Malaga Inc.
wishes to report the following changes in the management of the Company
    Malaga is pleased to announce that Mr. Ivan Quiroz Nunez has been
appointed Vice President of Exploration. Mr. Quiroz Nunez is a mining engineer
and metallurgist, and a member of the Collegio de Ingenieros del Perz, having
graduated from the National University of Engineering in Lima, Peru in 1981.
Prior to joining the Company, he has worked with several important mining
companies in Peru, specifically in regards to mineral and metal extraction
practices. Ivan Quiroz has been an Associate Professor since 1986 at the
National Engineering University in Lima where he teaches a course on mineral
extraction processes. From 1996 to 1999, he has acted as Technical director of
Dynacor Mines Inc., now named Malaga Inc. From 1999 to today, he held an
active role as General Manager and Director of the Company, having overseen
projects at the Acari, Pasto Bueno and Tumipampa properties.
    Malaga also wishes to welcome to the Company Mr. Pierre Monet as Chief
Financial Officer. Prior to joining Malaga, Mr. Monet was Vice President
Finance, Administration and Treasurer of Iron Ore Company of Canada (a
subsidiary of Rio Tinto). From 2000 until 2002, he was Vice President and
Chief Financial Officer of Avestor LLP (high technology). Prior, from 1995
until 2000, Mr. Monet was Vice President Finance of Alliance Forest
Products Inc., a public company listed on the TSX and NYSE. Alliance was later
on bought by Bowater. From 1984 to 1995, he worked for Raymond Chabot Martin
Paré. He holds a Bachelor in Business Administration from the Hautes Etudes
Commerciales and is a member of the Chartered Institute of Canadian
    Mr. Marc Blais, former President, has resigned from the Company.
Mr. Blais has served Malaga (formerly named Dynacor Mines Inc.), as President
for more than 14 years. He has played a key role in the success and growth of
the Company. As the spin off of the Company's gold assets is almost complete,
he now believes the time has come to pursue other personal and professional
goals and interests. In the interim, Jean Martineau, Chairman of the Board &
CEO, will be acting President until the Board can find a suitable replacement.
The Board wishes to thank Mr. Blais for his years of dedication and hard work,
and for his determination in making Malaga a recognized producing company in


    Malaga is a mining company, which owns and operates through its
subsidiaries, a tungsten mine and gold plant with mining and exploration
activities focused in Peru. It holds 100% interest, and operates the Pasto
Bueno tungsten mine. In addition, the Company holds 44% interest in the
Peruvian company called Hidropesac. This corporation operates the
hydroelectric potential of the Pasto Bueno property. Malaga focuses on
efficient and productive mining practices, in order to optimize current
operations. The Company is committed to growth, through increasing its
production levels, continuing exploration projects on existing properties and
through strategic acquisitions. It also seeks diverse growth opportunities
such as the hydroelectric potential through Hidropesac.

For further information:

For further information: Jean Martineau, Chairman of the Board &
CEO,President, Malaga Inc., (450) 667-3224; Christina Lalli, Investor
Relations, Malaga Inc., (450) 922-6199; Renmark Financial Communications Inc.:
Barbara Komorowski,; Tina Cameron,; Media: Vanessa Napoli,, (514) 939-3989, Fax: (514) 939-3717,

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