Aquiline Resources Inc.
TSX : AQI

Aquiline Resources Inc.

June 10, 2008 08:00 ET

Aquiline Strengthens Board of Directors with Appointment of Ken Thomas

TORONTO, ONTARIO--(Marketwire - June 10, 2008) - Aquiline Resources Inc. ("Aquiline" or the "Company") (TSX:AQI) is pleased to report the appointment of Ken Thomas to its Board of Directors effective immediately. Dr. Thomas is currently Global Managing Director at Hatch, a leading international engineering and construction firm headquartered in Mississauga, Ontario with over 8,000 employees worldwide. Dr. Thomas served from 1987 to 2001 in progressively senior roles at Barrick Gold Corporation ("Barrick"), from Vice President, Metallurgy to Senior Vice President, Technical Services. At Barrick, he had direct responsibility for the research and development, engineering, construction and commissioning of mine surface plants and infrastructure, including the Goldstrike autoclave and roaster facilities. His knowledge of South America is extensive, both through mine building for Barrick and Hatch, and also having served as the Executive Vice President, Operations and Chief Operating Officer for Crystallex International Corporation from 2003 to 2005 with operations in Venezuela and Uruguay. In addition to his doctorate in Technical Sciences from Delft University of Technology (Netherlands, 1994), he has been the recipient of numerous industry awards for mining, metallurgy and engineering. These awards include Mill Man of the Year in 1991, Airey Award in 1999 and the Selwyn G. Blaylock Medal in 2001, awarded by the Canadian Institute of Mining, Metallurgy and Petroleum.

Marc Henderson, President and CEO of Aquiline commented "Over the course of the last three years, our Navidad silver project has attracted talented geologists and other technical team members. The technical team has advanced the project significantly, enabling us to direct our focus on strengthening the Board. With Ken's appointment, we have added two directors in 2008, both of whom bring engineering and technical expertise in South America and internationally. Ken joins us with the support of our largest institutional shareholders, who have championed the initiative to expand and advance the Board as the major asset has appreciated. We now have a Board comprised of seven members, five of whom are independent, and we look forward to working with Ken as we continue to build the Company."

Pursuant to this appointment, the Board of Directors has approved a grant of 150,000 options to Mr. Thomas. These options are exercisable at a price of $8.25 per share (last closing price, $7.45 per share) for a period of three years from the date of issue.

ABOUT AQUILINE

Aquiline Resources Inc. is an exploration and development company advancing one of the world's largest undeveloped silver deposits (Navidad), as well as a gold/silver deposit (Calcatreu), both in Argentina, and a gold deposit in Peru (Pico Machay).

FORWARD-LOOKING STATEMENTS

This press release includes certain "forward-looking statements". All statements, expressed or implied, regarding Aquiline's 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.

Contact Information

  • Aquiline Resources Inc.
    Marc Henderson
    President & CEO
    (416) 599-4133
    or
    Aquiline Resources Inc.
    Flora Wood
    Vice President Investor Relations
    (416) 599-4133
    Email: flora@aquiline.com
    Website: www.Aquiline.com