SOURCE: Aquarian Gold Corp.

January 17, 2008 08:27 ET

Aquarian Gold Technical Team Prepares for Exploration Program

TORONTO--(Marketwire - January 17, 2008) - Aquarian Gold Corp. (PINKSHEETS: AQGC) ("Aquarian") wishes to announce that its technical team will be onsite at its project in the Raiu Coal Basin in Indonesia approximately February 10, 2008. Previously, the Company had announced that it had finalized its exploration with a budget of approximately $2.0 million US for its 2008 program. The technical team, led by local consulting geologists that will coordinate and supervise the exploration program, will be available to commence field work in early February. Upon completion of the 2008 program the Company will have defined its coal reserves, currently estimated at a potential for 300 million metric tonnes.

This will be extremely important as an international consortium is in the process of developing a two stage, 4 x 150 MW coal driven power plant directly adjacent to the property. The consortium has announced that a Power Purchase Agreement by the State Electricity Company is contracted for a period of 30 years with the option of 10 years extension. Their total requirement of coal supply to the power plant for the period of 40 years would be approximately 200 million metric tonnes (5 million m/t per annum).

Indonesian based representatives of Aquarian have been contacted by the consortium to discuss the potential to contract for a firm supply of coal for the life of their project.

Aquarian Gold Corp. trades in the United States on the Pink Sheets under the symbol AQGC. For further information contact Ian Lambert at (416) 840-9843 or go to

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This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

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