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Aquila Resources Inc
Symbol AQA
Shares Issued 220,960,374
Close 2016-06-10 C$ 0.19
Market Cap C$ 41,982,471
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Aquila responds to request for Back Forty permit info

2016-06-13 07:09 ET - News Release

Mr. Barry Hildred reports

AQUILA PROVIDES BACK FORTY PERMIT STATUS UPDATE

Aquila Resources Inc. has responded to the Michigan Department of Environmental Quality's (MDEQ) request for additional information pertaining to its previously filed mine permit application (MPA). To date, all four of the company's permit applications have been deemed administratively complete.

The MDEQ's mining team has conducted a thorough review of the Back Forty project MPA. The application was submitted to the Office of Oil, Gas and Minerals of the MDEQ on Nov. 12, 2015, under the requirements of part 632, non-ferrous metallic mineral mining, of the Natural Resources and Environmental Protection Act, 1994, PA 451, as amended (NREPA). Public comments received during the public comment period were taken into consideration as part of the MDEQ's review.

On May 9, 2016, the MDEQ's mining team notified the company of a number of areas where additional information and clarification were necessary to complete a comprehensive and accurate review of the MPA. Part 632 allows for the request of additional information to supplement, clarify and support the projects activities proposed in the MPA. In total, the MDEQ forwarded 197 questions that required clarification and response from the company.

Based on the regulatory review schedule encompassed in part 632, Aquila anticipates that the MDEQ will render a proposed decision on the MPA in July, 2016, pending its review of Aquila's response to the 197 questions.

"Subsequent to the MDEQ's request for additional information, we worked diligently with our consultants and technical specialists to respond in a thorough and timely manner," said Barry Hildred, chief executive officer at Aquila Resources. "We are very encouraged with the progress of the permit review process and we look forward to an imminent decision from the MDEQ."

We seek Safe Harbor.

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