Xerex, playing in the top flight for the first time in their 62-year existence, scored their first La Liga goal on Sunday 5-1/2 matches into the season.
Argentine midfielder Emiliano Armenteros claimed a place in the tiny club's history by scoring from close range to put Xerez ahead against Malaga after 47 minutes at their Chapin stadium.
The Jerez-based side were seven minutes away from a first La Liga win but Malaga's Nigerian striker Victor Obinna earned a point for the visitors with a superb long-range strike.
"I am delighted with the goal of course but a little sad that we conceded a late equaliser," Armenteros said in an interview with Spanish radio.
"We never thought it would take such a long time to get our first goal this season but I hope this will get us on the right track," added the 23-year-old.
There was a suspicion of handball when Armenteros controlled the ball before the goal but he said he had not felt anything.
"When you're in the thick of the action you often don't notice but I honestly didn't feel the ball touch my hand," he said.
Xerez, founded in 1947, remain rooted to the bottom of the table with two points.