Malbex Announces Corporate Restructuring

TORONTO, ONTARIO -- (Marketwire) -- 05/29/12 -- Malbex Resources Inc. (TSX VENTURE: MBG) announced today several management and board changes. Malbex founder and director, Joe Hamilton, has been appointed CEO effective June 1st, while Frank L. Davis, also a Malbex founder, has joined the Board of Directors. The Company's outgoing CEO, Tim Warman, and its VP Investor Relations, Marla Gale, have resigned effective May 31st. Tim Warman and Patrick F.N. Anderson have also stepped down from the Board with immediate effect.

Tim Warman joined Malbex in late 2008 and oversaw the company's successful financing and listing, the establishment of our operations in Argentina, four productive field seasons culminating in the first ever Inferred Mineral Resource at Del Carmen, and the acquisition of several promising new exploration projects in Argentina and Peru. The Board of Directors would like to thank Tim, Marla and Patrick for their contribution to the company over the last four years and wish them well in their future endeavours.

"As one of the company's founders and a significant shareholder, I am looking forward to taking a hands-on role in moving Malbex forward. We have a strong portfolio of projects and a talented technical team that is just beginning work on some of our new lower altitude projects in Argentina," said Joe Hamilton, Director. "It is also a pleasure to welcome Frank to our board of directors; Malbex will benefit from his extensive experience in law, corporate finance, governance and mergers and acquisitions."

Mr. Hamilton is President of PICKAX International Corp., a private consulting company, and a Managing Director of Primary Capital, an exempt market dealer in Toronto. He also serves as Chairman of Unigold Inc., an exploration company listed on the TSX-V with properties in the Dominican Republic, and is a director of Noront Resources Ltd. which is working towards the development of its Eagle Nest nickel-copper-palladium-platinum project in The Ring-of-Fire in Northern Ontario. Mr. Hamilton has over 27 years of experience in the international mining industry. Mr. Hamilton obtained a Masters of Science (Applied) from Queen's University in 1991 and a Bachelor of Science from the University of Toronto in 1985. Mr. Hamilton is a Chartered Financial Analyst and a Professional Geologist. He is currently a member of the Association of Professional Geoscientists of Ontario, Canada, a member of the CFA Institute and a member of the Institute of Corporate Directors.

Mr. Davis is counsel to the law firm Fraser Milner Casgrain LLP, practicing principally in the areas of securities and capital markets, corporate finance, mergers and acquisitions, mining and corporate governance. He represents various public companies and investment banking firms in public and private offerings of equity and debt securities. He has acted as counsel to offerors, target companies and financial advisors in both hostile and negotiated merger and acquisition transactions and has been active in a variety of takeover bids, mergers, acquisitions, amalgamations, arrangements and divestitures. Mr. Davis holds a B.Comm., LLB and M.B.A., all from the University of Toronto, an ICD.D from the Institute of Corporate Directors and is a director of companies listed on the Toronto Stock Exchange and the TSX Venture Exchange. Mr. Davis is included in The Best Lawyers in Canada, The Canadian Legal LEXPERT Directory, Who's Who Legal: Canada, The International Who's Who of Business Lawyers and Canadian Who's Who.

About Malbex

Malbex Resources Inc. is a gold exploration company with projects in Argentina and Peru. In April 2010, Malbex made a near-surface, gold-silver oxide discovery at Del Carmen, its lead project in Argentina. Released in September 2011, the first-ever inferred mineral resource estimate for the Rojo Grande zone at Del Carmen 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. 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. 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, 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.

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.

Contacts:

Malbex Resources Inc.

Joe Hamilton

Director

(416) 628-0215
ir@malbex.ca
www.malbex.ca