PRESS RELEASE
Aquila Resources Inc.
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April 5, 2007
Aquila 2007 Drilling Intersects Multiple Mineralized Zones and Will Add Second Drill
TORONTO, ONTARIO--(CCNMatthews - April 5, 2007) - AQUILA RESOURCES INC. (TSX VENTURE:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") today announced initial drill results from the first two holes of the 2007 drilling program at its Back Forty Project in the Upper Peninsula of Michigan. Drilling intersected high grade zinc values in the Tuff (2.92 meters of 21.65% zinc) and Main Zones (23.23 meters of 7.96% zinc) as well as significant gold and copper values. Gold was contained both in wide copper enriched stringer zones (31.88 meters of 2.73 g/t gold and 0.33% copper), and a high grade porphyry margin gold environment (2.5 meters of 37.22 g/t gold). Aquila now views the porphyry gold environment as an important new primary gold target.
LK-152 and LK-153 were drilled to further define the south dipping Tuff Zone and underlying Main Zone South Limb massive sulfides, as well as to test for deeper sulfide and gold mineralization. Stringer zone intercepts below the South Limb appear to be spatially related to the Deep Zone massive sulfide, and may significantly expand this poorly defined region of massive and semi massive sulphide base metal and gold mineralization.
A summary of results in the two holes are:
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Summary Drill Results LK-152 and LK-153
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All Intervals
in Meters Drilled g/t g/t % % %
Hole # From To Width Au Ag Cu Pb Zn Description
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Tuff Zone
LK-152 97.10 100.02 2.92 0.98 113.89 0.15 5.45 21.65 Massive Sulfide
Main Zone
160.76 183.15 22.39 1.61 21.98 0.47 0.04 5.27 South Limb
Main Zone
includes 160.76 174.50 13.74 1.07 12.91 0.13 0.04 8.18 South Limb
220.25 222.75 2.50 37.22 174.90 0.40 1.13 0.03 Porphyry Margin
273.40 323.20 49.80 1.78 8.75 0.52 0.05 0.03 Stringer Zone
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Tuff Zone
LK-153 111.58 118.00 6.42 0.44 54.17 0.05 3.34 10.58 Massive Sulfide
Tuff Zone
includes 111.58 114.63 3.05 0.60 90.19 0.09 6.19 20.40 Massive Sulfide
Main Zone
197.63 220.86 23.23 0.70 15.31 0.10 0.06 7.96 South Limb
Main Zone
includes 197.63 208.50 10.87 0.44 15.48 0.05 0.04 11.91 South Limb
271.12 303.00 31.88 2.73 6.25 0.33 0.05 0.08 Stringer Zone
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(i) Widths are apparent, not true widths
Porphyry Margin (PM Gold Zone)
The high grade porphyry margin gold intercept in LK-152 is one of a number of significant gold intercepts encountered along the north margin and interior of a quartz feldspar porphyry intrusive which extends along the axial plane of the folded stratigraphy hosting the Back Forty massive sulfides. Drilling in the central region of the fold has delineated a gold mineralized zone - the PM Gold Zone - for 140 meters of strike length and 230 meters down dip, straddling the porphyry margin and extending into the porphyry and adjacent rhyolites. Intercepts from this zone, which remains open, are summarized in the following table:
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PM Gold Zone Intercepts
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All Intervals Est.
in Meters True g/t g/t
Hole # From To Width Au Ag Description
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LK-80 Ext. 229.0 235.0 5.7 32.9 189.4 Porphyry margin
LK-79 351.8 356.6 2.9 4.0 4.7 Porphyry margin
LK-90 299.8 302.1 2.0 20.4 359.0 Porphyry margin
108431 430.5 458.0 11.1 5.1 49.5 Porphyry interior
108430 211.0 216.5 4.5 3.4 44.7 Porphyry margin
104418 211.5 220.0 6.3 15.2 128.0 Porphyry margin
LK-149 131.1 142.9 10.4 10.9 36.4 Porphyry Margin
LK-150 185.5 214.0 10.3 6.9 62.9 Porphyry Margin / Stringer
LK-152 220.3 222.8 2.0 37.2 174.9 Porphyry Margin
LK-153 271.1 303.0 15.2 2.7 6.3 Porphyry Margin / Stringer
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Future drilling will continue to expand and define this style of gold mineralization. "We are pleased to have begun to define another zone of gold mineralization distinct from our massive sulfide lenses and stringer zones" said Tom Quigley, President and CEO of Aquila. "This porphyry related mineralization has been encountered over a significant horizontal and vertical extent, and to date has only been delineated incidentally by holes targeting the massive sulfide lenses. These gold intercepts clearly warrant follow up to define the potential of the zone. Together with the 90 Gold Zone, we expect this porphyry gold target will add significantly to the gold and silver contained within the system."
Drill Program Update
Drilling is currently testing geophysical targets south of the known resource. There are assays pending from six drill holes that tested the 90 Gold Zone. Samples from two drill holes testing new geophysical anomalies have also been submitted for assay.
Aquila has contracted to add a second drill to the program as soon as the spring thaw road weight restrictions have been removed. The second drill will focus on expansions of the known massive sulfide zones, including significant down hole pulse electromagnetic (PEM) targets and other surface geophysical anomalies. A recently completed analysis and modeling of down hole PEM data from 2006 drilling has identified major zones of conductivity and potential expansions of the known massive sulfide lenses as well as new targets. An update compiling the priority targets will be forthcoming by separate press release.
Additional information about the current drilling and the company are available at: http://www.aquilaresources.com/projects.php#map
Sample preparation and analyses for this release were conducted by Accurassay Labs in Thunder Bay, Ontario on split drill core supplied by Aquila. Standards were inserted in the sample sequences with check assays and re-run\'s routinely conducted. Tom Quigley, P.Geo. and President of Aquila is the Qualified Person as described in National Instrument 43-101 for the Back Forty Project and is responsible for the content of this press release.
We seek safe harbour.
Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The securities being offered have not and will not be registered in the United States under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws, and may not be offered or sold within the United States or to or for the account of benefit of U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to purchase securities in the United States.
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CONTACT INFORMATION
Aquila Resources Inc. (Toronto)
Robin Dunbar
CFO
(416) 203-1404
Email: info@aquilaresourcesinc.com
or
Aquila Resources Inc. (U.S.)
Thomas O. Quigley
President
(218) 733-1452
Email: toquigley@qwest.net
or
Clark Avenue Co. Inc.
Investor Relations
(905) 882-4422
Email: clarkavenue@rogers.com
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