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Malbex Resources* (MBG : TSX-V :
.73), Net Change: 0.14, % Change: 23.73%, Volume: 3,476,991

The Rojo Grande, please. Malbex Resources wrapped up the week in style, reporting drill results from ongoing drilling at its

Rojo Grande target at its Del Carmen gold-silver project in San Juan province, Argentina. It seems 46 was the company’s lucky

number as Hole 46 hit 46 m at 3.31 g/t Au and 25.2 g/t Ag and 132.65 m at 2.10 g/t Au and 10.8 g/t Ag, including 23 m at 5.51

g/t Au and 20.4 g/t Ag. This hole was drilled southeast of hole 42 which intersected 103 m at 2.84 g/t Au. Additionally, recent

drilling has extended the apparent depth of oxidation at Rojo Grande from surface to at least 220 m vertical depth, which is

encouraging from a metallurgical standpoint. In January, the company reported that preliminary metallurgical testing of core

from Rojo Grande and Naciente Quebrada Pedregosa targets at Del Carmen Norte showed good potential for heap leach

– Canadian and U.S. Comments for Monday March 28, 2011 6

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or a recommendation is not intended to represent the whole report and is not itself a research report or recommendation. This

commentary is for informational purposes only and does not contain investment advice. This publication may be wholly or

partially based on industry rumour, gossip and innuendo and as such is not to be relied upon as investment advice.

cyanidation treatment, with gold recoveries averaging 76.5%. "The results of holes 42 and 46 have improved our geologic

model, and our ability to target higher-grade zones within the Rojo Grande ledge," said Tim Warman, President and CEO.

"Rojo Grande is delivering everything we could ask for - consistent gold-silver mineralization with higher-grade, near-surface

zones, generally shallow to non-existent overburden, encouraging metallurgy, and the structure remains open at depth and to the

southwest. The company now awaits the results from hole 49, a scissor hole on this section, to better understand the geometry of

the higher-grade zones discovered in holes 42 and 46. It also plans to infill this area before the end of the current drilling season.