Aquila Resources Inc.
FRANKFURT : JM4A
TSX : AQA

Aquila Resources Inc.

January 14, 2008 08:00 ET

Aquila Discovers New Extensions of East Zone and 90 Gold Zones

TORONTO, ONTARIO--(Marketwire - Jan. 14, 2008) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") today announced drill results from 14 holes drilled at the Back Forty Project in Michigan's Upper Peninsula. Multiple intercepts demonstrate several new distinct zones of mineralization and enhance the overall precious metal enrichment of the deposit. The results

- extend the gold bearing 90 Gold Horizon 300 meters along strike to the east;

- expand the gold potential of the PM Gold Zone (the central porphyry intrusion); and

- define a new zinc rich massive sulfide zone south of the central porphyry intrusion in the East Zone.

Highlights include 10.6 meters of 28.1% zinc in a new massive sulfide zone, 6 meters of 3.4 grams/tonne (g/t) gold in siliceous sediments in an extension of the 90 Gold Zone and 1.3 meters of 14.1 g/t gold in the PM Gold Zone porphyry.

Drilling targeting the PM Gold Zone encountered previously unknown massive sulfide mineralization as well as altered and gold mineralized siliceous sediments typical of those associated with the 90 Gold Zone. This new zone is 300 meters northeast of the 90 Gold Zone. The holes returned some of the highest zinc values encountered to date, as well as broad zones of gold mineralization associated with near surface sediments and high grade gold mineralization associated with porphyry margins.

East end drill results include:



---------------------------------------------------------------------------
All
Intervals
in Meters Est.
----------- True g/T g/T % % %
Hole # From To Width Au Ag Cu Pb Zn Description
---------------------------------------------------------------------------
LK-208 70.5 80.3 3.9 4.47 37.52 0.15 0.49 0.92 Quartz
Feldspar
Porphyry
(PM Zone)
including 78.1 80.3 0.9 11.61 33.20 0.20 0.27 2.25 Quartz
Feldspar
Porphyry
(PM Zone)
80.3 90.9 10.6 1.42 45.75 0.14 1.38 28.14 East Zone
massive
sulfide
(south ext)
including 80.3 89.0 8.7 1.34 49.72 0.13 1.64 32.27 East Zone
massive
sulfide
(south ext)
---------------------------------------------------------------------------
LK-209 75.0 81.4 6.5 0.26 10.44 0.25 0.11 13.55 East Zone
massive
sulfide
---------------------------------------------------------------------------
LK-211 11.0 15.5 4.3 1.59 0.50 0.00 0.07 0.01 Siliceous
Sediments
(90 Zone ext)
100.5 103.5 1.8 4.57 157.88 0.12 4.54 0.13 Quartz
Feldspar
Porphyry
(PM Zone)
163.1 164.5 1.4(i) 9.48 155.61 0.21 2.06 0.74 Rhyolite
Crystal
Tuff
---------------------------------------------------------------------------
LK-214 7.6 15.3 4.6 3.39 8.19 0.00 0.09 0.00 Siliceous
Sediments
(90 Zone ext)
57.5 59.5 2(i) 3.53 73.13 0.05 2.97 0.04 Rhyolite
Crystal
Tuff
76.6 98.1 16.0 1.02 18.82 0.05 0.45 13.16 East Zone
massive
sulfide
(south ext)
---------------------------------------------------------------------------
LK-217 31.0 47.0 11.3 1.68 20.28 0.02 0.16 0.08 Siliceous
Sediments
(90 Zone ext)
66.0 68.0 2(i) 0.64 15.35 0.01 0.26 1.83 Stringer
sulfides
110.5 114.5 3.2 0.43 9.99 0.03 0.21 2.44 East Zone
massive
sulfide
(south ext)
---------------------------------------------------------------------------
LK-219 14.1 26.5 10.6 0.71 0.90 0.00 0.02 0.00 Siliceous
Sediments
(90 Zone ext)
67.5 69.5 2(i) 5.32 350.70 0.10 6.94 1.34 Stringer
sulfides
---------------------------------------------------------------------------
LK-223 27.0 33.0 6.0 3.35 25.51 0.04 0.09 0.02 Siliceous
Sediments
(90 Zone ext)
55.5 58.5 3(i) 1.20 81.48 0.02 1.00 0.61 Stringer
sulfides
67.0 74.5 7.5(i) 0.50 1.15 0.02 0.04 2.60 Stringer
sulfides
98.5 100.0 1.3 14.17 51.06 0.06 0.56 0.15 Quartz
Feldspar
Porphyry
(PM Zone)
113.5 119.5 5.2 1.48 15.99 0.03 0.26 0.07 Quartz
Feldspar
Porphyry
(PM Zone)
---------------------------------------------------------------------------
LK-225 40.5 59.0 18.5 1.44 14.36 0.02 0.19 0.32 Siliceous
Sediments
(90 Zone ext)
---------------------------------------------------------------------------
LK-226 46.0 55.0 8.8 1.52 7.86 0.02 0.10 0.11 Siliceous
Sediments
(90 Zone ext)
---------------------------------------------------------------------------
LK-229 12.6 16.0 3.4 2.08 3.41 0.00 0.04 0.01 Siliceous
Sediments
(90 Zone ext)
86.6 92.1 4.0 3.63 91.39 0.10 1.18 0.75 Quartz
Feldspar
Porphyry
(PM Zone)
---------------------------------------------------------------------------
LK-239 90.0 100.0 7.1 2.83 12.51 0.16 0.08 0.20 Quartz
Feldspar
Porphyry
(PM Zone)
---------------------------------------------------------------------------
LK-243 127.8 137.0 9.2(i) 0.91 20.19 0.01 0.24 2.63 Massive and
stringer
sulfides
including 131.0 134.0 3.0(i) 2.83 62.74 0.04 0.75 8.16 Massive and
stringer
sulfides
-------------------------------------------------------------
LK-244 94.5 97.0 2.0 2.99 48.80 0.05 1.96 0.17 Quartz
Feldspar
Porphyry
(PM Zone)
---------------------------------------------------------------------------
LK-247 No significant values Rhyolite
Crystal
Tuff
---------------------------------------------------------------------------
(i)Drilled thickness, true thickness unknown


90 Gold Zone

The 90 Gold Zone is associated with the shallow updip portion of tuffaceous sediments and chloritic tuffs, also associated with the Tuff Zone massive sulfide. Further drilling is planned to expand the extent of these zones along strike and to depth. This sequence of sediments is also associated with the Tuff Zone massive sulfide, and deeper drilling along this horizon will be required to test for the presence of this zone.

PM Zone

Drilling at the PM Zone continues to intercept significant mineralization associated with the central porphyry intrusion. Significant silver values continue to be intersected in the PM Zone. More drilling is planned to continue definition of this precious metal rich horizon.

East Zone

The massive sulfide intercepts in LK-214 and LK-217 represent the first known extension of the East Zone massive sulfide south of the porphyry, and although follow up drilling to the east failed to intercept extensions, it remains open to the west. Expansion in this direction could result in eventual continuity with the South Limb massive sulfide.

A map showing the latest drill holes, zone expansions and general information about Aquila and the Back Forty Project are available on the company's website at www.aquilaresources.com.

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.

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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