Malaga Inc. (malaga)
Symbol: MLG
Toronto Stock Exchange (TSX)
MONTREAL, Oct. 27 /CNW Telbec/ - Malaga Inc. (TSX: MLG) is pleased to announce that it will shortly publish a new technical report on its tungsten resources at its Pasto Bueno property located in the region of Ancash (Peru). The report and information it contains on the Company's tungsten property will be National Instrument 43-101 compliant.
The technical report published in 2006 on the Pasto Bueno property did not properly define the mine's economic viability in terms of a NI 43-101 compliant resource calculation.
Malaga intends to rectify this situation as soon as possible by preparing a new resource calculation for its property. This new calculation will attest to the Company's current resources at Pasto Bueno and will be computed using methods that are approved by the Canadian regulatory authorities and will be as such fully NI 43-101 compliant. Vector Engineering, a well known mining engineering firm, has been hired by Malaga to produce the new report.
The Company is actively working on this report and will publish it on its website (www.malaga.ca) and on SEDAR (www.sedar.com) as soon as it has been completed and officially approved as being 43-101 compliant.
Finally, Malaga wishes to underline that the 2006 resource calculations although they were not 43-101 compliant have nevertheless enabled the Company to maintain its production capacity at Pasto Bueno since tungsten production began in April 2007.
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%.