Malbex Resources Inc. Q4 Update
TORONTO, Nov 14, 2014 - Malbex Resources Inc. (TSX VENTURE:MBG) has filed its financial statements and MD&A for the quarter ended September 30, 2014 on SEDAR (www.sedar.com). As of September 30, 2014, Malbex had negative working capital of $0.7 million including cash-on-hand of $0.2 million compared with negative working capital of $0.3 million including cash-on-hand of $0.44 million at September 30, 2013. Barrick Gold Corp. ("Barrick"), under the terms of the arrangement with Malbex, has assumed operatorship of the Del Carmen concession in Argentina and will be conducting field activities over the upcoming field season. The Company will report results as received from Barrick over the coming months.
Malbex also announces that the Board of Directors approved a change of year end from September 30 to December 31. The Company plans to report a fifteen (15) month period ending December 31, 2014 with a comparative twelve (12) month period ending September 30, 2013.
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.
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. 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 Malbex'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. Malbex 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-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Contact
Malbex Resources Inc.
Joe Hamilton, President and Chief Executive Officer
(416) 628-0215
ir@malbex.ca
www.malbex.ca