Aquiline Resources Inc.

Aquiline Resources Inc.

September 07, 2007 08:26 ET

IMA Submits Application to Seek Leave to Appeal Navidad Decision

TORONTO, ONTARIO--(Marketwire - Sept. 7, 2007) - Aquiline Resources Inc. ("Aquiline" or the "Company") (TSX:AQI) reports that an Application for Leave to Appeal to the Supreme Court of Canada has been filed by IMA Exploration Inc. and its wholly owned subsidiary Inversiones Mineras Argentinas S.A ("IMA"). The application represents IMA's request to the Supreme Court of Canada to grant leave to appeal the decision of British Columbia Court of Appeal dated June 7, 2007 which upheld the trial court judgment dated July 14, 2006 awarding ownership of Navidad to Aquiline's wholly owned subsidiary Minera Aquiline Argentina SA. This submission was expected by Aquiline, as IMA had previously announced its intention to seek leave to appeal in a press release dated June 7, 2007, which was filed immediately following the unanimous British Columbia Court of Appeal's decision dismissing IMA's appeal.

Aquiline is required to file a response with the Supreme Court of Canada by October 9, 2007. If the application is denied by the Supreme Court of Canada, then there will be no further appeal recourse for IMA, and Aquiline will become the ultimate owner of Navidad.


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

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