Shares Outstanding: 337,974,556
TORONTO, Dec. 20, 2018
/CNW/ - Aquila Resources Inc. (TSX: AQA)
("Aquila" or the "Company") is pleased to
announce that on December 19, 2018,
the U.S. District Court for the Eastern District of Wisconsin dismissed the federal lawsuit
brought by the Menominee Indian Tribe of Wisconsin (the "Tribe") challenging the
Environmental Protection Agency and the U.S. Army Corps of
Engineers' failure to exercise jurisdiction over Aquila's wetlands
permit (the "Wetlands Permit") for its Back Forty Project in
Michigan.
The Michigan Department of Environment Quality previously issued
Aquila the Wetlands Permit on June 4,
2018, but the Tribe claimed that the federal government is
responsible for issuing the Wetlands Permit under Section 404 of
the Clean Water Act. The Court held that the Tribe could not
challenge the federal government's refusal to exercise jurisdiction
over the Wetlands Permit under the Administrative Procedures Act or
the Clean Water Act.
Aquila will continue its efforts with the State of Michigan and local communities to
demonstrate our commitment to environmental responsibility and
sustainable resource development that benefits all stakeholders.
The Back Forty Mine will be a safe, disciplined operation that
promotes and supports local community socio-economic development
and is protective of the environment.
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 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.
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SOURCE Aquila Resources Inc.