Shares Outstanding: 337,568,556
TORONTO, Sept. 7, 2018 /CNW/ - Aquila Resources
Inc. (TSX: AQA) ("Aquila" or the "Company") announced today
that it has filed a technical report for its Back Forty Project in
Michigan. The technical report is
entitled "Back Forty Project, Michigan,
USA – Feasibility Study" and was compiled by Lycopodium
Minerals Canada Ltd with support from globally recognized experts
and specialist consulting engineering companies in environmentally
critical areas such as waste water treatment, tailings and waste
rock management and mine design (the "Technical Report").
The Technical Report was prepared in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral
Projects and supports the disclosure outlined in Aquila's
news release dated August 1, 2018.
The Technical Report is available under the Company's profile on
SEDAR at www.sedar.com and on its website at
www.aquilaresources.com.
ABOUT AQUILA RESOURCES
Aquila Resources Inc. (TSX:
AQA) is a development‐stage company with strategic assets in the
Great Lakes Region. The Company's experienced management team is
focused on advancing pre-construction and exploration activities
for its 100%‐owned zinc‐ and gold‐rich Back Forty Project in
Michigan.
Aquila's flagship Back Forty Project is an open pit volcanogenic
massive sulfide deposit with underground potential located along
the mineral‐rich Penokean Volcanic Belt in Michigan's Upper Peninsula. The Project
contains approximately 1.1B pounds of
zinc and 1M ounces of gold in the
Measured & Indicated Mineral Resource categories, with
additional upside potential. Aquila has received all State and
Federal permissions required for the construction and commencement
of operations at the Back Forty Project.
The Company has three other exploration projects: Reef Gold
Project located in Marathon County,
Wisconsin, the Bend Project located in Taylor County, Wisconsin and Aquila Nickel
located in the Upper Peninsula,
Michigan. Reef is a gold-copper property and Bend is a
volcanogenic massive sulfide occurrence containing copper and
gold.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This press release may contain certain
forward‐looking statements within the meaning of applicable
Canadian securities legislation. In certain cases, forward‐looking
statements can be identified by the use of words such as "plans",
"expects" or "does not anticipate", or "believes", or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved" and similar expressions suggesting future
outcomes or statements regarding an outlook.
These and other forward‐looking statements and information are
subject to various known and unknown risks and uncertainties, many
of which are beyond the ability of Aquila to control or predict,
that may cause their actual results, performance or achievements to
be materially different from those expressed or implied thereby,
and are developed based on assumptions about such risks,
uncertainties and other factors set out herein. These risks include
those described under the heading "Risk Factors" in Aquila's most
recent annual information form and its other public filings, copies
of which can be under Aquila's profile at www.sedar.com. Aquila
expressly disclaims any obligation to update forward‐looking
information except as required by applicable law. Such
forward‐looking information represents Aquila's best judgment based
on information currently available. No forward‐looking statement
can be guaranteed and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on
forward‐looking statements or information. Furthermore, Mineral
Resources that are not Mineral Reserves do not have demonstrated
economic viability.
SOURCE Aquila Resources Inc.