Aquila Resources Inc.
FRANKFURT : JM4A
TSX : AQA

Aquila Resources Inc.

March 26, 2008 08:00 ET

Aquila Expands Near Surface Gold Mineralization at the 90 Gold Zone

Results include 13.5 meters (true width) of 7.11 grams per tonne gold

TORONTO, ONTARIO--(Marketwire - March 26, 2008) - AQUILA RESOURCES INC. (TSX:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") today released results from 13 drill holes targeting expansion of the 90 Gold Zone at the Back Forty Project in Michigan's Upper Peninsula. Drilling to date has defined the 90 Gold Zone to over 300 meters along strike and to approximately 100 meters down dip. Drilling also encountered numerous gold intercepts in footwall rocks to the 90 Gold Zone. In addition to gold, highly elevated silver values are also commonly associated with the 90 Gold Zone.

Highlights from the 11 recently completed holes include:

- 13.5 meters (est. true thickness) of 7.1 g/t gold in LK-273.

- 9 meters (est. true thickness) of 5.9 g/t gold and 204.7 g/t silver, in LK-249.

- 3.5 meters (true thickness unknown) of 15.8 g/t gold and 193.5 g/t silver in LK-252.

- 15.2 meters (est. true thickness) of 4.9 g/t gold in LK-260.

Complete results from the 13 recently completed holes at the 90 Gold Zone are tabulated below.



----------------------------------------------------------------------------
All Intervals
in Meters
------------- Est.
True g/t g/t % % %
Hole # From To Width Au Ag Cu Pb Zn Description
----------------------------------------------------------------------------
LK-249 30.1 40.0 9.0 5.86 204.73 0.03 0.20 0.65 90 Gold Zone
Includ-
ing 31.0 34.5 3.2 10.41 487.31 0.05 0.20 0.04 90 Gold Zone
Chlorite
tuff - 90
Gold Zone
107.0 117.5 10.5(i) 0.61 19.63 0.02 1.14 1.80 footwall
----------------------------------------------------------------------------
LK-250 20.3 29.0 5.2 1.64 2.05 0.01 0.05 0.01 90 Gold Zone
----------------------------------------------------------------------------
LK-252 49.0 70.3 16.9 1.82 22.33 0.02 0.18 0.16 90 Gold Zone
Includ-
ing 68.0 70.3 1.8 4.68 57.96 0.04 0.64 0.24 90 Gold Zone
Rhyolite
crystal
tuff
overlying
201.0 204.5 3.5(i) 15.78 193.54 0.17 1.68 0.25 S. limb
South limb
massive
204.5 226.3 21.5 1.02 14.03 0.11 0.18 10.01 sulfide
South limb
Includ- massive
ing 206.0 218.0 11.9 0.68 5.82 0.06 0.15 14.96 sulfide
Stringer
243.0 249.0 6(i) 0.33 7.90 0.46 0.04 0.03 sulfides
----------------------------------------------------------------------------
LK-253 16.2 22.5 5.0 0.83 2.01 0.00 0.04 0.00 90 Gold Zone
----------------------------------------------------------------------------
LK-254 44.0 68.3 8.5 1.53 48.57 0.01 0.16 0.24 90 Gold Zone
Includ-
ing 44.0 48.5 1.6 2.93 96.68 0.01 0.10 0.28 90 Gold Zone
----------------------------------------------------------------------------
Chlorite
tuff - 90
Gold Zone
LK-256 83.5 89.5 6(i) 4.36 17.38 0.02 0.75 0.88 footwall
Chlorite
tuff/
Rhyolite
crystal
97.0 104.0 7(i) 0.31 18.08 0.02 1.09 2.72 tuff
----------------------------------------------------------------------------
LK-260 2.7 23.5 15.2 4.89 24.61 0.02 0.05 0.01 90 Gold Zone
Includ-
ing 9.5 15.0 4 8.48 36.17 0.02 0.07 0.01 90 Gold Zone
----------------------------------------------------------------------------
LK-261 25.0 32.6 5.0 5.05 13.74 0.01 0.03 0.01 90 Gold Zone
Includ-
ing 31.0 32.6 1.1 11.85 28.62 0.02 0.05 0.01 90 Gold Zone
Chlorite
tuff - 90
Gold Zone
98.5 106.0 7.5(i) 0.35 12.69 0.02 0.53 2.11 footwall
----------------------------------------------------------------------------
LK-262 18.0 20.9 2.0 1.81 6.56 0.00 0.07 0.01 90 Gold Zone
Rhyolite
crystal
77.9 88.5 10 .6(i) 0.28 7.87 0.03 0.33 1.61 tuff
----------------------------------------------------------------------------
LK-268 No significant values
----------------------------------------------------------------------------
LK-270 45.0 48.0 3(i) 2.25 57.21 0.01 0.24 0.12 90 Gold Zone
95.1 98.0 2.9(i) 2.38 65.63 0.01 0.31 0.63 90 Gold Zone
Chlorite
tuff - 90
Gold Zone
107.0 113.0 6(i) 0.48 13.25 0.01 0.65 3.27 footwall
----------------------------------------------------------------------------
LK-273 27.0 40.5 13.5 7.11 9.34 0.00 0.03 0.01 90 Gold Zone
Includ-
ing 39.0 40.5 1.5 39.97 31.00 0.00 0.04 0.02 90 Gold Zone
----------------------------------------------------------------------------
Chlorite
tuff - 90
Gold Zone
LK-275 57 58.5 1.5(i) 4.01 10.00 0.01 0.02 0.00 footwall
----------------------------------------------------------------------------

(i)Drilled thickness, true thickness unknown


90 GOLD ZONE EXPANSION

A total of 52 holes have now intersected the 90 Gold Zone at 10 to 25 meter spacing to define an envelope of mineralization partially overlapping the Tuff Zone massive sulfide and extending outward from it to the surface. "We are hopeful that this gold and silver mineralization can be included in the upcoming NI 43-101 resource estimate expected later this year," stated Tom Quigley, Aquila's president. "The continuity and grade of this precious metal zone is quite impressive, and these latest results highlight the widespread gold and silver mineralization associated with the Back Forty mineralized system."

PREPARATION FOR RESOURCE UPDATE

An additional seven holes are pending from the 90 Gold Zone, and approximately 16 holes are pending from the Pinwheel extension and South Limb massive sulfides, and a newly discovered near surface gold zone located between the 90 Gold Zone and the Pinwheel massive sulfide zone. Three drills continue to operate at the project focused on resource definition and expansion.

Metallurgical test work is also progressing, and a preliminary description of these results is expected in the near future. Ongoing test work includes both open circuit and locked cycle flotation tests on sulfide ores, leach and gravity tests on gold and silver ores, and characterization of concentrates and tailings.

A NI 43-101 preliminary assessment (scoping study) is planned following completion of the updated resource calculation.

A plan view map of the 90 Gold Zone drill holes is posted on the company's 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") o416-742-5600r 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: 70,109,478

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

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