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Malaga Inc. is pleased to release resource estimates from an updated technical report on the Pasto Bueno tungsten mine's reserves and resources, located in the Ancash Province of Northern Peru. The National Instrument 43-101 compliant report was prepared by Vector Engineering Inc.
The data includes detailed sampling of veins exposed in drifts and chimneys and long section of eight veins that are currently being exploited or explored. There are currently 78 known WO3-mineralized veins found on Malaga's Pasto Bueno property.
The resource summary includes 169,427 metric tonnes of proven and probable reserves with a WO3 average grade of 0.70%, 398,845 metric tonnes of measured and indicated resources with a WO3 average grade of 0.76% and 1,820,641 metric tonnes of inferred resources with a WO3 grade of 0.70%. The complete report and its appendixes will be filed on SEDAR (www.sedar.com) over the next 45 days and will also be available on the Company's website www.malaga.ca. In the NI 43-101 report in February of 2009, Malaga reported 98,488 metric tonnes of proven and probable reserves, 142,490 metric tonnes of measured and indicated resources, 1,204,000 metric tonnes of inferred resources
"We are certainly pleased about the excellent results of this report. As the Americas' only publicly-traded tungsten producer, we are keeping up with the demand by not only replacing what we mined in 2009 but also securing additional years of production at the Pasto Bueno mine. Given the current recovery in the tungsten price and indications that China's demand is rising, Malaga is poised to benefit from strong market demand for Malaga's high quality tungsten", said Jean Martineau, President and CEO of Malaga.