Mr. Barry Hildred reports

AQUILA RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Aquila Resources Inc. intends to complete a non-brokered private placement for gross proceeds of up to $1-million. Proceeds from the offering will be used for the further exploration and development of Back Forty and general working capital purposes.

Under the terms of the offering, the company will issue equity units at a price of 13 cents per unit. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will be exercisable at 15 cents for a period of 36 months following the closing of the offering.

The offering is expected to close on or about Sept. 15, 2014, and is subject to approval by the Toronto Stock Exchange. Finders' fees may be paid in connection with the offering.

We seek Safe Harbor.