SR Strategic Resources Inc

Malaga Inc. (TSX:MLG) 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) 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%. 


FORWARD-LOOKING INFORMATION 

Certain statements in the foregoing may constitute forward-looking statements
which involve known and unknown risks, uncertainties and other factors that may
cause the actual results, performance or achievements of Malaga or industry
results to be materially different from any future result, performance or
achievement expressed or implied by such forward-looking statements. These
statements reflect management's current expectations regarding future events and
operating performance as of the date of this news release.

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