Aquila Resources Inc.
TSX VENTURE : AQA
FRANKFURT : JM4A

Aquila Resources Inc.

May 07, 2007 01:30 ET

Aquila Expands 2006 Gold Zone Discovery

TORONTO, ONTARIO--(CCNMatthews - May 7, 2007) - AQUILA RESOURCES INC. (TSX VENTURE:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") today announced results from follow up drilling on the 90 Gold Zone, and preliminary results from drill testing geophysical targets to the south of the main Back Forty massive sulfide mineralization.

90 Gold Zone results were highlighted by a 28 meter (16 est. true) intercept of 7.12 grams per tonne (g/t) gold and 94.6 g/t silver in LK-159, as well as other significant gold and silver intervals shown in the table below.



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Est.
Inter- True
val width g/t g/t % % %
Hole # From To (m) (m) Au Ag Zn Cu Pb Description
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LK-154 4.6 45.0 40.4 23.03 5.40 38.7 0.32 0.03 0.11 90 Gold Zone
including 6.0 18.0 12.0 6.84 11.87 50.4 0.01 0.05 0.08 90 Gold Zone
51.0 57.0 6.0 unknown 0.46 101.3 0.15 0.02 0.72 Footwall tuffs
63.0 64.5 1.5 unknown 10.26 4.0 0.01 0.00 0.06 Footwall tuffs
75.0 76.5 1.5 unknown 11.59 4.0 0.11 0.00 0.05 Footwall tuffs
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LK-155 53.5 64.0 10.5 unknown 1.15 79.3 0.20 0.00 0.19 Footwall tuffs
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LK-156 50.5 72.0 21.5 12.26 4.00 49.8 0.30 0.03 0.46 90 Gold Zone
including 61.0 72.0 11.0 6.27 5.72 66.3 0.33 0.04 0.76 90 Gold Zone
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LK-157 24.9 48.5 23.6 13.47 4.16 44.0 0.02 0.03 0.05 90 Gold Zone
including 36.5 48.5 12.0 6.84 6.32 75.9 0.03 0.04 0.05 90 Gold Zone
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LK-158 40.0 47.5 7.5 4.28 4.28 176.0 0.05 0.08 0.02 90 Gold Zone
including 40.0 44.5 4.5 2.57 6.35 249.0 0.01 0.10 0.01 90 Gold Zone
59.5 68.5 9.0 unknown 1.37 124.9 0.01 0.00 0.04 Footwall tuffs
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LK-159 12.0 40.0 28.0 15.96 7.12 94.6 0.12 0.05 0.13 90 Gold Zone
including 12.0 25.0 13.0 7.41 10.86 138.4 0.00 0.05 0.02 90 Gold Zone
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90 Gold Zone

Discovered in 2006, a total of 12 drill holes in the 90 Gold Zone have thus far defined a tabular body of gold and silver mineralization ranging from 7 meters to greater than 20 meters of estimated true thickness, extending from surface to a depth of 70 meters, and along strike for 45 meters. The zone remains open in all directions, and also contains significant gold and silver intercepts in the altered footwall rocks underlying the zone.

"The 90 Gold Zone is an integral part of the stratigraphy hosting our massive sulfide zones" stated Aquila president Tom Quigley. "It appears to occupy the same general horizon as the Tuff Zone massive sulfide, and represents a potential near surface gold and silver resource not included in our recently released resource estimate. The East and Pinwheel massive sulfide and gossan zones contain a measured and indicated resource containing in excess of 230,000 ounces of gold, 2.5 million ounces of silver, 140 million pounds of zinc and over 45 million pounds of copper within 75 meters of the surface, and the 90 Gold Zone could add appreciably to this near surface category of mineralization."

Other Targets

Initial drill testing of geophysical targets 1.5 miles south of the Back Forty resource has been completed. Four holes targeting three geophysical targets encountered disseminated pyrrhotite mineralization in a sequence of tuffaceous sediments and argillites. Analytical results for the first two of these holes (RN1 and RN2) returned no significant values.

Drilling will continue to define and expand all categories of mineralization at the project. One drill is currently testing Main Zone Hinge mineralization and underlying deeper massive sulfides and stringer zones, and an additional rig is scheduled to start the week of May 14th. The additional rig will begin testing off hole geophysical targets developed from pulse electromagnetic surveys which have identified a number of strongly conductive responses thought to be caused by extensions of known massive sulfide lenses as well as potential new horizons.

These potential extensions as well as new plan maps and cross sections including the 90 Gold Zone can be seen on Aquila's recently updated 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 content 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.

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