Replies to post #214 on Malaga Inc (MLG)

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MALAGA: APPOINTMENT OF TWO BOARD MEMBERS

Malaga Inc. has appointed Daniel Danis and R. Martin Wong to the board of directors.

Mr. Danis is an experienced geologist with more than 20 years in exploration in Quebec and abroad. He has worked for public companies Minorca Resources, Vogues Resources and Unigold Resources. Mr. Danis is currently president and chief executive officer of Unigold Resources, a gold exploration company with mining properties in the Dominican Republic. Mr. Danis holds a bachelor of science in geology and a master's degree from the Universite du Quebec a Montreal, with a specialization in geochemistry.

Mr. Wong is an experienced corporate financial executive, investment banker and chartered accountant, specialized in investments, capital markets, investment banking, relation management and loan restructuring. Mr. Wong previously worked for large financial institutions such as RBC Royal Bank and Scotia Capital, and more recently, in investment banking at Dundee Securities Corp. Mr. Wong is currently an independent financial adviser and consultant to public and private companies. He holds a bachelor of business administration from Bishop's University, is a member of l'Ordre des comptables agrees du Quebec, and administrator of a number of boards and philanthropic organizations.

"We are very proud to welcome Mr. Danis and Mr. Wong to our board of directors, and look forward to their experienced advice and support at a time when we are speeding up our tungsten production in Peru, as well as planning important exploration programs on the Pasto Bueno property," said Jean Martineau, president and CEO of Malaga.

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Malaga Announces a $6 million Private Placement

MONTREAL, QUEBEC--(Marketwire - May 6, 2010) - Malaga Inc. (TSX:MLG - News) announces that, on May 5th 2010, it has agreed to a two tranche non-brokered private placement to raise gross proceeds of up to $6,000,000. The first tranche which was closed yesterday consists of 18,321,667 equity units ("Units") at a price of $0.15 per Unit resulting in gross proceeds of $2.75 million to Malaga. The second tranche consists of 21,666,667 Subscription Receipts at a price of $0.15 each resulting in gross proceeds of up to $3.25 million.

Each Unit consists of one common share of Malaga ("Common Share") and one common share purchase warrant ("Warrant"). The Warrant will entitle the holder to subscribe for one Common Share at $0.25 at any time for two years from issue. All of the securities issued in connection with the financing will be subject to a four month hold period from the date of issue.

Each Subscription Receipt ("SR") entitles the holder to redeem the SR for one Unit. Funds raised as part of the second tranche will remain in escrow pending approval of the SRs at the Annual General Meeting. The holder of the SR will be able to redeem the SR following shareholder approval and expiring on June 30, 2010.

Investors in the private placement include Resource Capital Fund V LLP ("RCF V"), a fund managed by RCF Management L.L.C. ("RCF") which has its principal office in Denver, Colorado. RCF is a private equity firm which invests exclusively in the mining sector that has expertise in managing corporate strategies, capital requirements, technical challenges, operations, development projects, and the environmental and social aspects of mining projects. RCF has approximately US$1.8 billion under management.

RCF V has subscribed 16,666,666 Units and 16,666,667 SR, representing a total investment of $5,000,000.

"We are very pleased to have RCF as a new cornerstone investor. It has an excellent reputation and its expertise in the mining sector will allow us to achieve our expansion objectives" commented Pierre Monet, Vice president and Chief financial officer of Malaga Inc.

The net proceeds of the financing will be used for the upgrade of the mill at Pasto Bueno, the installation of additional equipment to improve recoveries, exploration and resource definitional drilling activities and for general corporate purposes.

Jean Martineau, Malaga's President and CEO commented: "This financing is the first step in establishing our Pasto Bueno mining operation as the premiere producing tungsten mine in the Western world. We are pleased with the confidence that RCF and new investors have placed in us and the tangible support as evidenced by their investment."

CORPORATE EVENTS

New York Hard Assets Investment Conference, Sunday May 9 until Tuesday May 11, 2010

Malaga Inc. will be attending the New York Hard Asset Investment Conference. Please join us at the New York Marriott Marquis Hotel / Time Square in the Westside Ballroom on the 5th floor at Booth number 606.

ABOUT MALAGA INC.

Malaga Inc. is a publicly listed (TSX: MLG - News) tungsten mining company that uses modern, efficient and productive mining technology. The Company is committed to growth through increasing its tungsten concentrate production, by continuing the exploration of the Pasto Bueno property as well as through strategic acquisitions. It also seeks diverse Peruvian 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 13.5%.

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