Malbex Resources

Vancouver, British Columbia – Arapaho Capital Corp. (TSX-V: AHO) ("Arapaho") and Malbex Resources Inc. ("Malbex") report that they continue to progress towards completion of their previously-announced business combination (the “Proposed Transaction”). The Proposed Transaction will be effected by way of a three-cornered amalgamation whereby Malbex will amalgamate with a wholly-owned subsidiary of Arapaho and shareholders of Malbex will receive common shares of Arapaho on the basis of one common share of Arapaho for 1.5 common shares of Malbex.

Arapaho intends to obtain shareholder approval of the Proposed Transaction by way of written consent of holders of a majority of the outstanding Arapaho common shares. On August 27, 2009, Arapaho filed with the TSX Venture Exchange (the “Exchange”) a draft of the filing statement required by Exchange policies to be delivered to Arapaho shareholders in connection with obtaining their approval. Initial comments were received from the Exchange on September 11, 2009. Arapaho and Malbex do not anticipate any issues in addressing these initial comments. It is expected that further comments will be forthcoming as part of the Exchange’s review of the filing statement. The filing statement must be approved by the Exchange before it is delivered to shareholders.

Malbex has previously obtained shareholder approval of the Proposed Transaction, and each of Malbex and Arapaho have completed their due diligence investigations in connection with the Proposed Transaction. The approval of the Proposed Transaction by Malbex shareholders and the completion of satisfactory due diligence were conditions precedent to completion of the Proposed Transaction.

It is currently anticipated that the closing of the Proposed Transaction will take place on or before October 9, 2009.

About Malbex Resources Inc.
Malbex is a private gold exploration company led by several former executives and directors of Aurelian Resources Inc. Malbex holds an indirect 100% interest in three exploration projects in the Province of San Juan, Argentina, two of which are in close proximity to Barrick's Veladero and Pascua-Lama gold deposits. Malbex has outstanding 52,799,996 common shares and 21,275,000 subscription receipts which were issued pursuant to a private placement completed by Malbex on June 30, 2009 (see news release issued by Arapaho and Malbex dated June 30, 2009).

About Arapaho Capital Corp.
Arapaho is an investment company. Its objective in managing capital is to ensure sufficient liquidity to pursue potential investments. Arapaho has not had any active business operations for the past three years. Its only source of revenue is interest earned from funds on deposit. Its expenditures are for costs to maintain a public company in good standing and to identify and evaluate potential business ventures or properties.

For further information, please contact:

Brian Bayley
President and Chief Executive Officer
Arapaho Capital Corp.
Tel: 604-689-1428
Fax: 604-681-4692

Tim Warman
President and Chief Executive Officer
Malbex Resources Inc.
Tel: 416-566-6762
E-mail: timwarman@malbex.ca