Aquila Resources Inc.
TSX VENTURE : AQA
FRANKFURT : JM4A

Aquila Resources Inc.

April 23, 2007 01:00 ET

Aquila to List on Toronto Stock Exchange

TORONTO, ONTARIO--(CCNMatthews - April 23, 2007) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES.

AQUILA RESOURCES INC. (TSX VENTURE:AQA)(FRANKFURT:JM4A) ("Aquila" or the "Company") is pleased to announce that it has received conditional approval to list on the Toronto Stock Exchange ("TSX"). The key condition to listing is the filing of an updated NI 43-101 report on Sedar. The Toronto Stock Exchange is one of the world's leading stock exchanges for international and domestic mining and mining exploration companies.

Aquila plans to announce the results of a mineral resource estimate in the near future, and thereafter will post a NI 43-101 technical report on Sedar. The report will include the results of drilling completed by Aquila in 2006 and incorporate mineralization contained on a key property acquired in the project area.

Thomas O. Quigley, President and CEO of Aquila stated "Aquila is pleased to progress to the Toronto Stock Exchange. We feel the Back Forty Project is one of North America's leading poly-metallic base metal exploration projects and we are planning to accelerate our drilling and evaluation of the project in 2007."

About Aquila

Aquila is a mineral exploration company controlling approximately 10,000 acres of mineral and surface rights at the Back Forty Project located in Menominee County, Michigan, U.S. Control of mineral interests is 100% by way of mining leases, options to purchase, and ownership of surface and mineral estates subject to underlying royalty interests and applicable minority interests. Exploration at the project has identified massive sulfide and gold mineralization in a highly altered sequence of felsic volcanics, pyroclastic rocks and intrusive porphyries

ON BEHALF OF THE BOARD

Thomas O. Quigley, President and CEO

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 common shares of Aquila have not and will not be registered under the United States Securities Act of 1933, as amended, (the "US Securities Act") or any state's securities laws and may not be offered or sold in the United States or to any US person except in certain transaction exempt from the registration requirements of the US Securities Act and applicable state securities laws. 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: 70,019,478

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

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