Aquiline Resources Inc.

Aquiline Resources Inc.

December 06, 2007 16:41 ET

Aquiline Files Navidad Updated Mineral Resource Estimate on Navidad-453 Million Ounces Silver (M+I) and 3.0 Billion Pounds Lead (M+I)-

TORONTO, ONTARIO--(Marketwire - Dec. 6, 2007) - Aquiline Resources Inc. ("Aquiline" or the "Company") (TSX:AQI) has today submitted for SEDAR filing the NI 43-101 Mineral Resource Estimate ("Resource Estimate") published by Snowden Mining Consultants Inc. ("Snowden"). Summary data from the report was announced by press release November 15, 2007. The full report will be posted to the Aquiline website when SEDAR confirmation is received. Summary data is shown in the table below:

November 2007 Mineral Resource (50 g/t AgEQ grade cut-off)
(Mt) (g/t) (g/t) (%) (Moz) (Mlb)
Measured 15.8 226 150 1.57
Indicated 111.9 152 105 0.99
Measured + Indicated 127.7 161 110 1.06 453 2,988
Inferred 49.0 121 97 0.50 153 546


The most likely cut-off grade for this deposit is not known at this time
and must be confirmed by the appropriate economic studies.

Silver equivalent grade values are calculated without consideration of
variable metal recoveries for silver and lead. Three year rolling average
metals prices of US$10.00/oz and lead price of US$0.70/lb was used to
derive an equivalence formula of AgEQ equals Ag + (Pb x 10,000 / 208).

The estimated metal content does not include any consideration of mining,
mineral processing, or metallurgical recoveries.

The estimate of Mineral Resources may be materially affected by
environmental, permitting, legal, title, taxation, socio-political,
marketing, or other relevant issues.

The summary table in this release is approved by Snowden, and is included in the Resource Estimate report. Pamela De Mark, Senior Consultant, Resource Evaluation is the Qualifying Person for Snowden in compliance with the disclosure requirements of Canadian National Instrument 43-101 (NI 43-101). Under the NI 43-101 guidelines, the Qualified Person for the Navidad Project is Mr. John J. Chulick who is a registered geologist in the State of California. The Qualified Person has read and approved the contents of this release.


This press release includes certain "forward-looking statements". All statements, expressed or implied, regarding mineralization contained on the Navidad Project and Aquiline's ultimate success in the litigation with IMA Exploration Inc. 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.

Contact Information

  • Aquiline Resources Inc.
    Flora Wood
    Vice President, Investor Relations
    (416) 599-4133
    Aquiline Resources Inc.
    John J. Chulick
    Vice President of Exploration
    (54-2940) 432-704