Aquila Resources Inc.
FRANKFURT : JM4A
TSX : AQA

Aquila Resources Inc.

November 30, 2009 08:30 ET

Aquila Resources and HudBay Minerals Back Forty Drilling Intersects 20.2 Meters of 11.5 Grams Per Tonne Gold and 119.7 Grams Per Tonne Silver

TORONTO, ONTARIO--(Marketwire - Nov. 30, 2009) - AQUILA RESOURCES INC.
(TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company"), is pleased to report high grade gold and silver assay results from the recently implemented drilling program at the Back Forty Project in Michigan's Upper Peninsula. The current drill program is targeting near surface gold mineralization as well as untested areas within the potential open pit area of the Back Forty polymetallic resource, and is part of a larger program of engineering, environmental, and permitting activity undertaken by HudBay Minerals Inc. and Aquila Resources Inc. as a part of an Option and Joint Venture Agreement for the Back Forty Project.

Assay results for eight drill holes targeting extension of a near surface gold zone (the "NS Gold Zone") located within the resource pit shell have been received, and significant results presented in the table below with a complete list on the Company's website.



---------------------------------------------------------------------
All Intervals Drilled
in Meters Interval(i) g/t g/t
-------------------------------------------------
Hole # From To Meters Gold Silver
---------------------------------------------------------------------
LK-356 13.4 33.6 20.2 11.5 119.7
includes 18.0 30.6 12.6 16.5 169.8

LK-357 17.9 30.5 12.6 6.1 15.5
includes 17.9 26.5 8.7 8.0 18.8

LK-359 16.5 20.0 3.5 35.5 12.6
includes 16.5 18.0 1.5 78.3 16.7
---------------------------------------------------------------------
(i)True thickness unknown


The above intercepts indicate approximately 50 meters of southwest extension to the previously defined NS Gold Zone, which remains open in that direction. NS Zone mineralization consists of altered and sheared rhyolite tuffs, and has now been traced over a strike length of about 300 meters, and was not included in the 43-101 compliant mineral resource estimate released in January of 2009.

"These are exciting intercepts," commented Aquila President and CEO Tom Quigley. "They confirm the potential of the NS Zone to add important precious metal ounces to the open pit resource and further illustrate the gold rich nature of the large mineralized system at the Back Forty Project."

The NS Zone is one of several "gold only" styles of mineralization occurring in host rocks to the Back Forty massive sulfide lenses, and like the other gold zones, contains only minor amounts of sulfide minerals and low to moderate base metals. Other gold zones with 43-101 compliant resources at the project include:



- East Zone Gossan: 80,000 tonnes 17.98 grams per tonne (g/t) gold,
measured plus indicated (M+I)
- Pinwheel Gossan: 200,000 tonnes 7.83 g/t gold (M+I)
- 90 Gold Zone: 340,000 tonnes 3.05 g/t gold (M+I)
- PM Gold Zone: 190,000 tonnes 7.67 g/t gold (Inferred)


With the exception of the PM Gold Zone, these zones fall within the open pit shell used to calculate the open pit resources (see 43-101 Technical Report dated February 25, 2009, prepared by SRK Consulting, Toronto), which, with the contained massive sulfide resources (M+I only), contains an estimated 465,000 ounces of gold, 6,252,000 ounces of silver, 530,000,000 pounds of zinc and 80,000,000 pounds of copper.

Drilling is ongoing at the Project with 24 holes completed to date and 5,660 meters of drilling remaining in the current drill program. Targets will include additional expansion of the NS Gold Zone, the 90 Gold Zone and stringer zone gold mineralization within the potential open pit, as well as other targets outside the pit shell, including an untested geophysical anomaly 600 meters east of the known mineral resource.

Thomas O. Quigley is the Qualified Person for Aquila as described in National Instrument 43-101 responsible for contents of this release.

More information about Aquila and the Back Forty Project, including updated drilling information, can be found on the Company's website at www.aquilaresources.com.

This press release contains certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; changes in project parameters as plans continue to be refined, future prices of resources; possible variations in reserves, grade or recovery rates, accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Shares Outstanding: 81,770,529

Contact Information