Aquila Resources Inc.
TSX VENTURE : AQA
FRANKFURT : JM4A

Aquila Resources Inc.

November 09, 2006 01:00 ET

Aquila Drills 19.3 Meters @ 11.73% Zinc Gold Intercept 6 Meters @ 32.9 g/t Gold and 189.4 g/t Silver

TORONTO, ONTARIO--(CCNMatthews - Nov. 9, 2006) - AQUILA RESOURCES INC. (TSX VENTURE:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") today announced more drill results from the near surface East Zone as well as a high grade gold intercept on a porphyry intrusive margin.

East Zone highlights include:

- 19.3 meters of 11.73% zinc followed by 22.5 meters of 5.11 g/t gold in LK-112E

- 28.4 meters of 5.54 g/t gold, 0.80% copper and 2.84% zinc in LK-107E

- 52.1 meters of 2.13 g/t gold in LK-108E

A plan view map showing the location of the holes in the table below can be accessed at http://www.aquilaresources.com/projects.php#map



Details of these intercepts are presented in the table below.
---------------------------------------------------------------------------
East Zone and LK-80 Extension Drill Results
---------------------------------------------------------------------------
All Intervals
In Meters Est. g/ g/
------------- True tonne tonne % % %
Hole # From To Width Gold Silver Cu Pb Zn Description
---------------------------------------------------------------------------
LK-106E 49.25 50.75 1.5 4.18 20.00 0.25 0.05 pending Massive
sulfide
---------------------------------------------------------------------------
Gossan,
massive &
stringer
LK-107E 10.2 38.5 28.4 5.54 23.49 0.80 0.01 2.84 sulfides
-------------------------------------------------------------------
includes 10.2 11.6 1.5 13.90 11.17 0.01 0.02 0.02 Gossan
-------------------------------------------------------------------
Massive
11.6 25.0 13.4 3.61 18.92 0.93 0.01 5.56 sulfide
-------------------------------------------------------------------
Massive
sulfide &
25.0 38.5 13.5 6.55 29.36 0.76 0.01 0.45 stringers
---------------------------------------------------------------------------
Gossan,
massive &
stringer
LK-108E 7.9 60.0 52.1 2.13 9.63 0.40 0.01 0.08 sulfides
-------------------------------------------------------------------
Gossan &
oxidized
includes 7.9 13.4 5.5 5.55 5.81 0.01 0.02 0.01 rhyolite
-------------------------------------------------------------------
12.0 13.4 1.3 17.39 14.76 0.01 0.01 0.01 Gossan
-------------------------------------------------------------------
Massive
13.4 36.0 22.6 1.79 11.69 0.51 0.02 0.18 sulfide
-------------------------------------------------------------------
Sulfide
36.0 60.0 24.0 1.65 8.56 0.38 0.01 0.01 stringer
---------------------------------------------------------------------------
LK-109E Drilled in Mafic dike, no signifcant assays
---------------------------------------------------------------------------
Massive
LK-112E 52.2 71.5 19.3 1.66 10.71 0.13 0.01 11.73 sulfide
-------------------------------------------------------------------
Stringer
71.5 94 22.5 5.11 9.20 0.24 0.01 0.14 sulfides
---------------------------------------------------------------------------
LK-80 229.0 235.0 5.2 32.93 189.4 NA NA NA Porphyry
Ext. margin
---------------------------------------------------------------------------


A drill intercept in a porphyry margin included 6 meters of 32.9 g/t gold and 189.4 g/t silver in drill hole LK-80 which was extended to greater depth. The intercept contained visible gold.

Drill results from massive and stringer sulfides at the East Zone continue to show good grades and thicknesses, enhancing the near surface potential of this zone. The gold intercept in the extension of LK-80 onto the MRT ground represents the tenth intercept along the margin of the central quartz feldspar porphyry intrusion which is closely associated with the Main Zone massive sulfide. Nine additional intercepts along this porphyry margin have been encountered in previous drilling over a strike length of 325 meters, at depths ranging from 125 to 350 meters with grades up to 54.01 g/t gold over 3 meters.

Similar to the "90 Gold Zone" mineralization reported in a previous press release (October 17, 2006), these porphyry related gold intercepts represent a precious metal target distinct from massive sulfide mineralization, and continue to illustrate the gold rich nature of the hydrothermal system at the Back Forty Project. Future drilling will focus on expanding and delineating this style of gold mineralization, as well as the 90 Gold Zone and the known massive sulfide lenses. Additional information about porphyry margin gold mineralization is available on the Aquila website at www.aquilaresources.com.

Sample preparation and analyses for this release were conducted by Accurassay Labs in Thunder Bay, Ontario on split drill core supplied by Aquila. Standards were inserted in the sample sequences with check assays and re-run's routinely conducted. 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 contents 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.

Shares Outstanding: 53,216,948

The TSX Venture Exchange has not reviewed and does not accept responsibility for the contents of this release.

Contact Information