Company Malaga Inc.

Malaga Inc is a Canada-based exploration and mining company. The Company, including its subsidiaries, is a mining company that operates mainly in Peru at its tungsten mine in Pasto Bueno. The operations, exploration and development activities on the Pasto Bueno Property are located in the Ancash Department, Central Peru. As of December 31, 2011, the Company and its subsidiaries also had interests in mining properties at the exploration or development stage. Dynacor Exploraciones Del Peru, S.A. is a 100%-owned subsidiary of the Company, which holds mining rights and assets comprising the Pasto Bueno tungsten mine and the Pasto Bueno Property. The Pasto Bueno mine is in the Pasto Bueno district in the Pallasca province in the Ancash department of Peru. The property comprises 33 concessions with a total area of 688.22 hectares. The Company owns 100% of the property, including all surface rights. The Company processes the ore from its own mine.

Number of employees: 263