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Enter Symbol
or Name
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CA



Aquila Resources Inc
Symbol AQA
Shares Issued 270,539,638
Close 2017-02-09 C$ 0.265
Market Cap C$ 71,693,004
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Aquila Resources appoints Pritchard to board

2017-02-10 07:47 ET - News Release

Mr. Barry Hildred reports

AQUILA RESOURCES STRENGTHENS BOARD WITH APPOINTMENT OF MINING EXECUTIVE WITH 30 YEARS OF INDUSTRY EXPERIENCE

Aquila Resources Inc. has appointed Ian Pritchard to the company's board as an independent director, effective immediately. Mr. Pritchard was also named chairman of Aquila's technical, environmental, health and safety committee.

Mr. Pritchard brings more than 30 years of mining industry experience with a particular focus on project and operations management in North America and across the globe. Mr. Pritchard currently serves as chief operating officer of Belo Sun Mining, a construction-stage company advancing development of the Volte Grande project in Brazil.

"Ian is a welcome addition to our board, bringing deep industry knowledge, technical expertise and significant experience in getting mines safely built and into commercial production," said Edward Munden, chairman of Aquila's board of directors. "We look forward to his counsel and many contributions as we advance development of Back Forty."

Mr. Pritchard's mining experience includes the management of prefeasibility and feasibility studies and engineering, procurement and construction management projects. He has held senior executive positions at various organizations around the world, including SNC-Lavalin and De Beers Canada.

Mr. Pritchard holds a diploma in mechanical engineering from Watford Technical College in the United Kingdom. He also completed a project management program at the University of Pretoria in South Africa.

About Aquila Resources Inc.

Aquila Resources is focused on advancing permitting activities for its 100-per-cent-owned gold- and zinc-rich Back Forty project in Michigan. In its updated preliminary economic assessment filed in September, 2014, Back Forty demonstrated strong economics with a pretax net present value of $282-million ($210.8-million after tax) and a pretax internal rate of return of 38.8 per cent (32 per cent after tax) based on mining 16.1 million tonnes of measured, indicated and inferred resources over the 16-year life of mine, of which 12.5 million tonnes will be open pit and 3.6 million tonnes will be underground.

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