Aquiline Resources Inc.
TSX : AQI

Aquiline Resources Inc.

March 10, 2008 17:50 ET

Aquiline Drilling at Navidad Indicates New Discovery Zone

TORONTO, ONTARIO--(Marketwire - March 10, 2008) - Aquiline Resources Inc. ("Aquiline" or the "Company") (TSX:AQI) is pleased to report on the results of 3 diamond drill holes at the Valle Esperanza zone within the Navidad Project in Chubut Province, Argentina (see maps attached). Drilling was performed to follow up the significant mineralization intersected in hole NV07-628 (8.32 metres grading 495 g/t Ag including 2.74 metres grading 1210 g/t) which was reported by press release January 30, 2008. Assays for three additional holes have been confirmed with the following results:



Valle Esperanza: NV08-646: 18.10 metres @ 254 g/t Ag and 0.18% Pb
including 2.21 metres @ 1,293 g/t Ag

Valle Esperanza: NV08-649: 20.00 metres @ 429 g/t Ag and 0.26% Pb
including 3.45 metres @ 1,240 g/t Ag

Valle Esperanza: NV08-655: 18.00 metres @ 561 g/t Ag and 0.02% Pb
including 2.20 metres @ 2,470 g/t Ag


NOTES: True thickness has not been calculated for any of the above holes, and all length weighted averages are "uncut", ie have no grade capping.

The three holes were drilled on 100 meter centers to the south, west, and north from previously reported hole NV07-628 and mineralization remains open in these three directions. Mineralization is apparently more restricted to the east near the SW margin of the Galena Hill resource envelope as indicated by Hole NV08-653 which reports 4.09m @ 74 g/t Ag w/ 1.73% Pb. Despite the proximity to the Galena Hill resource, the Valle Esperanza mineralization is initially interpreted to be within a lateral sub-horizontal body in the upper latite unit, with apparently low base metal values, that is not directly related to the more vertically-oriented breccia-hosted mineralization at Galena Hill.

The assays for the three holes detailed above were received as part of results for 17 holes from drill hole NV07-639 to drill hole NV08-655 which comprise all drilling to the end of 2007 (drill hole NV07-648) as well as7 holes drilled in 2008. Presently rigs are set-up immediately to the SE of Loma de La Plata and to the south of the Valle Esperanza zone. Drilling at the Navidad project now totals 112, 590m of which Aquiline has drilled 52,370m or more than 46% of the total. Maps and cross sections related to this release will be summarized on the website www.aquiline.com.

Aquiline has continued with the quality control program implemented by the previous operator and considers it to be of "best practice" caliber for a systematic sampling program using diamond drill core. All assay work for the released results was carried out by Alex Stewart Laboratories in Mendoza, Argentina. Under the guidelines of the 43-101 National Instrument, the Qualified Person for the Navidad Project is Mr. John J. Chulick who is a registered geologist in the State of California.

FORWARD-LOOKING STATEMENTS

This press release includes certain "forward-looking statements". All statements, expressed or implied, regarding mineralization contained on the Navidad Project 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.

To see the General Overview Map, please visit the following link: http://file.marketwire.com/release/AQImap1.pdf

To see the Map of Esperanza Valley, please visit the following link: http://file.marketwire.com/release/AQImap2.pdf

Contact Information

  • Aquiline Resources Inc.
    Flora Wood
    Vice President, Investor Relations
    (416) 599-4133
    Email: flora@aquiline.com
    or
    Aquiline Resources Inc.
    John J. Chulick
    Vice President of Exploration
    (54-2940) 432-704
    Website: www.Aquiline.com