SOURCE: Aquarian Gold Corp.

April 04, 2007 08:30 ET

Aquarian Gold Commences Exploration Program on Coal Properties in Indonesia

TORONTO -- (MARKET WIRE) -- April 4, 2007 -- Aquarian Gold Corp. (PINKSHEETS: AQGC) ("Aquarian") is commencing an extensive program of detailed geological mapping on their recently acquired 52,000 hectare (approximately 200 square mile) Indonesian coal property. The Company will be sampling coal seam outcrops, pitting, and mapping selected areas to 1:25,000 with detailed mapping in certain areas on a scale of 1:5,000.

Andrew Bell, Chairman of Aquarian, stated, "This mapping process will concentrate on the outcrops and on areas of known coal mineralization in order to produce an initial 43-101 compliant report on this one area of our property. Earlier exploration has indicated the presence of more than 2.5 million tonnes of medium calorific, low ash/sulfur content bituminous coal in one section of the northern license. However, this resource figure is not 43-101 compliant, and should not be relied upon."

Bell further commented, "I am very pleased with the rapid progress we have made since closing the acquisition of this property in January. We have changed our focus from gold mining/exploration and are fast-tracking our plans to supply coal to fuel Asia's growing economy. China is building a new coal-fired power generation plant every week, with plans to open more than 500 over the next eight years."

About Aquarian Gold Corporation

The company's large land position (greater than ten times the size of the Island of Manhattan) is located in the Riau coal basin. The property, easily accessed via barge along the nearby river, lies less than 100 kilometres (62 miles) from the east coast of Sumatra and shipping links to South East Asia.

Historically, Sumatra has accounted for 70% of Indonesia's known coal reserves. The three main Sumatran coal basins have been significant coal producers for more than a century. Due to the high quality of Indonesian coal, it is widely used throughout Europe, Asia and the Americas as a blending coal to help customers meet environmental standards. According to a recent Citibank report, "Indonesia has come from nowhere to challenge Australia as the world's largest exporter of thermal coal."

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

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.

Contact Information

  • For More Information Contact:

    Mr. Ian D. Lambert
    Tel. 416 840 9843

    Mr. Andrew Bell
    Tel: +44 207 402 4580

    Investor Relations Contact:
    Redwood Consultants, LLC