Malbex Reports Accident at Its Del Carmen Project

Marketwired

TORONTO, ONTARIO--(Marketwire -03/12/12)- Malbex Resources Inc. (TSX-V: MBG.V - News) is investigating an accident that resulted in the death of an employee of one of the Company's drill contractors at its Del Carmen project in San Juan, Argentina on Saturday. The Argentinean authorities were notified immediately and are also conducting an inquiry.

"All of us at Malbex extend our deepest condolences to the family of our fallen contractor," said Tim Warman, President and CEO. "The safety of our employees and contractors is our highest priority. We are working closely with the authorities to determine the causes of the accident."

Drilling by the Company's other contractor will resume today with one rig. It is expected that the other two rigs will be restarted later this week.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, spending commitments, future operations, restart of certain drill rigs, results of exploration, anticipated financial results, future work programs, capital expenditures and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's annual information form under the heading "Risk Factors". There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact:
Tim Warman
Malbex Resources Inc.
President and Chief Executive Officer
(416) 628-0215

Marla Gale
Malbex Resources Inc.
VP Investor Relations
(416) 628-0215
ir@malbex.ca

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