SECURITIES AND EXCHANGE COMMISSION
                          Washington, D. C.  20549


Form 8-K
Current Report Pursuant to Section 13 or 15(d) of The Securities 
Act of 1934

Date of Report (date of earliest event reported):  July 8, 1998

Mallon Resources Corporation
(exact name of registrant as specified in its charter)

     Colorado                0-17267            84-1095959
(State or other            (Commission       (I.R.S. Employer
jurisdiction                File Number)     Identification No.)
of incorporation)

999 18th Street, Suite 1700, Denver, Colorado       80202
(address of principal executive offices)           (zip code)

Registrant's telephone number, including area code:  (303) 293-2333

not applicable
(former name or former address, if changed since last report)


Item 5.  Other Events

Mallon Resources Corporation (the "Company") issued the following 
press release, dated July 8, 1998, the text of which follows:

     Denver, Colorado -- Mallon Resources Corporation (Nasdaq:  
"MLRC") reported that its former majority-owned subsidiary, Laguna 
Gold Company, has announced its private placement of $6.5 million 
of 10% corporate notes due June 2001.  The placement also included 
the issuance of warrants to purchase 11 million shares of Laguna 
stock, which gives the investors the right to purchase an 
approximate 29% equity stake in Laguna.  According to Laguna, the 
funds raised will be used to develop and place on production its 
Rio Chiquito gold mine in Costa Rica.

     Mallon owns approximately 12.3 million shares of Laguna common 
stock, which constitute approximately 46% of the currently 
outstanding Laguna shares.

     Mallon Resources Corporation is a Denver, Colorado, based oil 
and gas exploration and production company operating primarily in 
the San Juan and Delaware Basins of New Mexico.  Mallon's Common 
Stock is quoted on Nasdaq under the symbol "MLRC."


                         Signatures

     Pursuant to the requirements of the Securities Exchange act of 
1934, the registrant has duly caused this report to be signed on 
its behalf by the undersigned hereunto duly authorized.

                         Mallon Resources Corporation


July 14, 1998            By: _/s/ Roy K. Ross__________________
                              Roy K. Ross, Executive Vice President
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SECURITIES AND EXCHANGE COMMISSION
                          Washington, D. C.  20549

Form 8-K
Current Report Pursuant to Section 13 or 15(d) of The Securities 
Act of 1934

Date of Report (date of earliest event reported):  July 8, 1998

Mallon Resources Corporation
(exact name of registrant as specified in its charter)

     Colorado                0-17267            84-1095959
(State or other            (Commission       (I.R.S. Employer
jurisdiction                File Number)     Identification No.)
of incorporation)

999 18th Street, Suite 1700, Denver, Colorado       80202
(address of principal executive offices)           (zip code)

Registrant's telephone number, including area code:  (303) 293-2333

not applicable
(former name or former address, if changed since last report)

Item 5.  Other Events

Mallon Resources Corporation (the "Company") issued the following 
press release, dated July 8, 1998, the text of which follows:

     Denver, Colorado -- Mallon Resources Corporation (Nasdaq:  
"MLRC") reported that its former majority-owned subsidiary, Laguna 
Gold Company, has announced its private placement of $6.5 million 
of 10% corporate notes due June 2001.  The placement also included 
the issuance of warrants to purchase 11 million shares of Laguna 
stock, which gives the investors the right to purchase an 
approximate 29% equity stake in Laguna.  According to Laguna, the 
funds raised will be used to develop and place on production its 
Rio Chiquito gold mine in Costa Rica.

     Mallon owns approximately 12.3 million shares of Laguna common 
stock, which constitute approximately 46% of the currently 
outstanding Laguna shares.

     Mallon Resources Corporation is a Denver, Colorado, based oil 
and gas exploration and production company operating primarily in 
the San Juan and Delaware Basins of New Mexico.  Mallon's Common 
Stock is quoted on Nasdaq under the symbol "MLRC."

                         Signatures

     Pursuant to the requirements of the Securities Exchange act of 
1934, the registrant has duly caused this report to be signed on 
its behalf by the undersigned hereunto duly authorized.

                         Mallon Resources Corporation

July 14, 1998            By: _/s/ Roy K. Ross__________________
                              Roy K. Ross, Executive Vice President