Malagasy Minerals

MALAGASY IDENTIFIES 6.5KM LONG VANADIUM ZONE

• Results of soil and rock chip sampling have confirmed +300ppm vanadium (maximum 3,745ppm V) mineralisation over 6.5 strike km within MML tenements. Multiple sub-parallel +150ppm V zones delineated;

• Coincident copper responses and significant sulphides in host lithologies encouraging for potential base metal sulphide mineralisation;

• Preparations advanced to undertake costeaning of selected target zones during December 2009. Excavator arrived on-site to commence 3rd December;

• IKONOS satellite imagery acquired over main zone and southern extensions to facilitate geological follow-up of defined mineralisation;

• 35km contiguous strike of prospective host lithology held 100% by MML. Regional soil geochem planned for early 2010 following wet season;

• Innov-X50 XRF analyzer recalibrated for vanadium and returned to site to allow in-house assaying of vanadium samples.

          Source: Announcement to ASX on December 1, 2009 

          Ticker: ASX: MGY