SOURCE: Aquarian Gold Corp.

February 21, 2007 08:30 ET

Aquarian Gold Corp. Announces Completion of Purchase of Indonesian Coal Properties

Public Investor Conference Call to Be Held on February 28, 2007

TORONTO -- (MARKET WIRE) -- February 21, 2007 -- Aquarian Gold Corp. (PINKSHEETS: AQGC) ("Aquarian") is pleased to announce that by a Resolution dated February 8, 2007, the Company approved the issuance of 41,000,000 restricted common shares as consideration shares to satisfy the sum of $10,000,000 in connection with the mining property option and sales agreement dated September 13, 2006. By way of issuance of these shares, the Company has completed its commitments for acquisition of the Indonesian coal properties in the Riau coal basin of Sumatra, covering 52,000 hectares.

Aquarian Gold Corp. is also pleased to announce it will host an investor conference call on Wednesday February 28, 2007, to begin at 4:15 P.M. Eastern Time.

In discussing the conference call, Andrew Bell, Chairman of Aquarian Gold, stated, "We are extremely pleased to complete this transaction. Furthermore, we have a commitment to our shareholders as well as the investment community for high level disclosure and communication, and for that reason we are looking forward to discussing our progress and developments with our shareholders and the investment community."

Interested parties may hear and participate in the call by telephone. Instructions for the call are:

    To hear the conference call as it takes place:

    Call 800-391-2548 in the United States or;
    Call 866-627-1646 in Canada or;
    Call 302-709-8328 Internationally
    Verbal Pass code: VT37043
To hear a recording of the call (available for 30 days following the conference call):
    Call 402-220-2946 in the United States, Canada or Internationally
    Pin Code: 37043#
About Aquarian Gold Corporation

The company's large land position is located in the Riau coal basin, one of three coal rich areas within Sumatra that together account for seventy percent of Indonesia's annual coal production. They contain established coal mineralization. The licenses neighbor two significant finds, and are largely unexplored. Indonesia has become the world's largest thermal coal exporter, and among the characteristics of this coal are that it contains low pollutants such as ash and sulfur and so is used to mix with higher calorific value coals as far away as the U.S. and Europe. Chinese demand is increasing as China is not building new oil-fired plants and is adding each year generating capacity equal to the total power output of the U.K. The license is located in the east of Sumatra with good shipping links with South East Asia.

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:

    Redwood Consultants
    Tel (415) 884-0348

    Mr. Ian D. Lambert
    Tel. (416) 840-9843