SOURCE: Aquarian Gold Corp.

March 06, 2007 08:58 ET

Aquarian Gold Corp. in Negotiations to Acquire Significant Coal Properties for Zimbabwe Properties Encompassing 68,000 Hectares

TORONTO -- (MARKET WIRE) -- March 6, 2007 -- Aquarian Gold Corp. (PINKSHEETS: AQGC) ("Aquarian") is pleased to announce that it has entered into negotiations with local parties with the strong objective to acquire interest in the vast coal fields of Zimbabwe. The areas of interest include substantial concessions close to the South African border.

Zimbabwe is a significant producer of bituminous coal, and has large reserves of high grade coal and coal bed methane. In recent years, the country has seen limited exploration, as high inflation and past uncertainty about the intentions of the Government has deterred investors. Aquarian now believes that this presents an opportunity to position the company in a country with large scale production potential and a good communications infrastructure.

In addition to these negotiations, the Company is preparing arrangements to undertake an exploration and drill program in order to unearth a high-tonnage, near-surface resource of coal on its 52,000 hectare Indonesian properties in Riau, Sumatra. For a more complete discussion of the present opportunity in Indonesia and Zimbabwe, please listen to the Company's conference call from February 28, 2007 at http://www.aquariancoal.com/conference/conference.mp3.

For More Information Contact:

Mr. Ian D. Lambert, President          Mr. Andrew Bell, Chairman
Tel. 416 840 9843                      Tel: +44 207 402 4580
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

  • Contact:
    Redwood Consultants, LLC
    415-884-0348