Malbex Resources Inc. to Acquire the Los Guandules Verdes Exploration Concession in the Dominican Republic

Malbex Resources Inc. ("Malbex") (TSX VENTURE:MBG) is pleased to announce that
it has entered into agreements that allow it to acquire control of the Los
Guandules Verdes exploration concession in the Dominican Republic (the
"Property"). The Property is immediately south of the Nieta Concession currently
being explored by Unigold Inc. ("Unigold") (TSX VENTURE:UGD) and approximately
15 kilometres northwest of GoldQuest Corporation's (TSX VENTURE:GQC) La
Escandalosa project. Like the Nieta and La Escandalosa concessions, Los
Guandules Verdes concession is underlain by the mid-Cretaceous Tireo Group which
is host to various zones of volcano sedimentary-related gold and
copper-zinc-silver mineralization elsewhere in the Domincan Republic.


"We are extremely pleased to have been able to acquire this strategic property
in an area that is quickly becoming the focus of mineral discoveries," stated
Joe Hamilton, CEO of Malbex. "The Dominican Republic is both economically and
politically stable and remarkably prospective for the discovery of new gold
deposits. This property diversifies the Malbex exploration efforts and should
provide shareholders with new opportunities for discovery. We will continue to
advance our Argentinean Del Carmen concession through preliminary economic
studies and updated resource calculations over the coming months while
establishing new exploration programs in the Dominican Republic."


About the Property

The Los Guandules Verdes concession is located in the Central Cordillera of the
Dominican Republic. The western boundary follows the international border with
Haiti while the eastern boundary is approximately 300 metres from the Nalga de
Maco National Park (Figure 1).


The Property contains the Cretaceous age Tireo Group rocks which are overlain to
the southwest by a veneer of "flysch" type calcareous slates, limestones,
sandstones and shales of the Peralta Formation (Figure 2). The Duarte Formation
within the Tireo Group trends parallel on the northeast side of the property and
consists of metabasalts, volcanic tuffs, amphibolites and schists. Further to
the north, the Tireo Group is in contact with tonalite, diorite and gabbro
intrusive bodies. In general, the Tireo Group consists of andesite and basalt
volcanic and volcanoclastic rocks with lesser felsic volcanics and limestone.
Dacite porphyry and smaller sinuous ultramafic bodies are found throughout the
area. 


The Tireo Group is host to volcanogenic sulphide deposits that are currently
being drilled by Goldquest Mining Corp. at the Escandolosa Project and by
Unigold Inc. at the Candelones Project. Previous work on the Property has
included limited soil geochemical grids and some surface prospecting (Figure 2).
Historic showings within the Nalga de Maco National Park appear to trend onto
the concession but no modern exploration has been conducted to test the extent
of these trends. 


Malbex intends to commence a program of geological mapping, surface sampling and
geophysics in order to quickly identify drill targets for later follow-up. Work
programs in the Dominican Republic can be conducted throughout the year.


About the Transaction

The "Americana Transaction"

Malbex has completed a definitive agreement with the shareholders of Americana
de Explotaciones Mineras S.R.L. ("Americana"), a Dominican private company, to
acquire all of the issued and outstanding shares in the capital of Americana for
a purchase price of RD$100,000 Dominican pesos (the "Americana Transaction").
Americana has an application pending for the Los Guandules Verdes concession.
Malbex expects that this licence will be granted within the next six weeks.  


The "Unigold Agreement"

The shareholders of Americana had previously granted Unigold the option to
acquire all of the shares in Americana, or the Property licence, for nominal
consideration. In connection with the acquisition of Americana, Malbex has
entered into an agreement with Unigold (the "Unigold Agreement" and together
with the Americana Transaction, the "Transaction") to cancel the outstanding
option. In exchange for Unigold agreeing to consent to the acquisition by Malbex
of all of the outstanding shares of Americana and to cancel the option, Malbex
has agreed to issue to Unigold 13,000,000 common shares of Malbex and grant
Unigold a 2% net smelter return royalty on the Property. Malbex can buy back
half of the net smelter return royalty for $1 million (leaving Unigold with a
royalty equal to 1% of net smelter returns). If Malbex identifies at least 2
million ounces of measured and/or indicated resources (based on a NI43-101
report) within the first 5 year term of the exploration concession, then Malbex
must issue an additional 5,000,000 common shares to Unigold. All such common
shares of Malbex which may be issued to Unigold pursuant to the Unigold
Agreement will be subject to a hold period of four months from the time of the
issue of such common shares.


Closing Conditions

The Unigold Agreement is subject to the granting of the Los Guandules Verdes
concession licence by the Dominican government, and subject to final TSX-V
approval. 


The consideration to be paid pursuant to the Transaction, without considering
the royalty or the "top-up" shares based on identified measured and/or indicated
resources, is equal to approximately C$1.4 million based on the 20-day VWAP of
Malbex shares prior to this announcement. Approximately $340,000 has been spent
by Unigold to date on the Property in acquisition, geochemical and mapping
campaigns. Management of Malbex considers the Property to be highly prospective
for gold and copper mineralization based upon the close proximity to recent
discoveries and the existence of mapped outcrops of Tireo Group rocks along
strike from known mineralization. Further, the Property contains known
geophysical and geochemical anomalies that will be scheduled for follow-up work
as soon as possible. Closing of both the Americana Transaction and the Unigold
Agreement are conditional upon receipt of shareholder approval of the
Transaction and the consideration payable by Malbex in connection therewith, all
of which is expected to be tabled for consideration and, if deemed appropriate,
approval by shareholders at Malbex's upcoming annual and special shareholders
meeting, which is expected to be scheduled in March, 2013.


The Transaction is considered to be a "non-arm's length" transaction within the
meaning of the policies of the TSX-V due to the fact that Mr. Joe Hamilton is a
common director of both Malbex and Unigold. 


About Malbex 

Malbex is a gold exploration company led by experienced management and directors
with projects in Argentina. In April 2010, Malbex made a near-surface, gold-
silver oxide discovery at Del Carmen, its lead project in Argentina. In
September 2011, Malbex released the first-ever inferred mineral resource
estimate calculated in accordance with National Instrument 43-101 for the Rojo
Grande deposit at Del Carmen which measured 25.4 million tonnes grading 1.00 g/t
gold and 13.3 g/t silver for 816,600 ounces of contained gold and 10.9 million
ounces of contained silver. Heap-leach metallurgical recoveries from column
tests were estimated between 75% and 85%. The Del Carmen project is located in
the El Indio Gold Belt, which contains more than 35 million ounces of gold in
current reserves and past production, including Barrick's Veladero mine and
Pascua-Lama project. Preliminary economic assessments are underway for this
project and an updated resource is expected to be published in by the end of
June 2013. For more information, please visit www.malbex.ca. 


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, licence
renewals and granting of concessions, spending commitments, future operations,
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.


To view the Figures associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/MBG-Figures.pdf.  


FOR FURTHER INFORMATION PLEASE CONTACT: 
Malbex Resources Inc.
Joe Hamilton
President and Chief Executive Officer
[phone]
[e-mail]
www.malbex.ca