Aquiline Resources Inc.

Aquiline Resources Inc.

June 26, 2008 10:33 ET

Aquiline Announces Scoping Study on Navidad's Loma de La Plata Zone for Delivery in Q3 2008

TORONTO, ONTARIO--(Marketwire - June 26, 2008) - Aquiline Resources Inc. (TSX:AQI) ("Aquiline" or "the Company") is pleased to announce the first Preliminary Economic Assessment ("Scoping Study") to be conducted on its 100% owned Navidad silver project in Chubut Province, Argentina. The Scoping Study will be performed in compliance with NI 43-101 regulations by Snowden Mining Consultants Pty Ltd. ("Snowden") of Brisbane, Australia under Peter Myers, Divisional Manager.

The Scoping Study will focus on Navidad's Loma de La Plata zone, which is estimated to contain 9.1 million tonnes (indicated) at average grades of 226 g/t Ag, or 66 million contained ounces Ag plus 17.3 million tonnes (inferred) at average grades of 159 g./t Ag, or 89 million contained ounces Ag (Snowden Mining Industry Consultants, December, 2007). The majority of the mineralization occurs from surface to depths of 200 metres over a surface area exceeding 39 hectares. Metallurgical test results announced June 18, 2008 demonstrated silver recoveries of 80-85% in a high grade silver concentrate containing approximately 50 kilograms silver per tonne from a conventional flotation process. Work on the Scoping Study commenced in the second quarter of 2008, with the final report expected in the third quarter of 2008. In addition to Snowden, the contributors to the Scoping Study will be:

Engineering: Damian Spring, Aquiline's Chief Engineer for Navidad
Metallurgy: John Wells, metallurgical consultant, JAWMETC.
Environment: Matthew Andrews, Aquiline's Manager for Environment & Water
Hydrology: Water Management Consultants, subsidiary of Schlumberger Company

While the Scoping Study is underway, additional metallurgical testwork underway by XPS is anticipated to be delivered within the next 30 days. A comprehensive metallurgical program encompassing a newly discovered zone beneath the Esperanza valley as well as the six deposits on the Navidad trend is also being designed and will be refined once the Loma Scoping Study is complete.

Under the guidelines of the 43-101 National Instrument, the Qualified Person for the Navidad Project is Mr. John Chulick, who is a registered geologist in the State of California. The Qualified Person for the metallurgical program and Scoping Study underway at the Navidad Project is Mr. Damian Spring, B. Eng. (Mining), and a member of the Australasian Institute of Mining and Metallurgy. Both Mr. Chulick and Mr. Spring have reviewed the technical content of this release.


This press release includes certain "forward-looking statements". All statements, expressed or implied, regarding future development of the Navidad property, are forward-looking statements that involve various risks and uncertainties, as disclosed under the heading "Risk Factors" and elsewhere in Aquiline documents filed from time to time with applicable regulatory authorities. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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