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Aquila Resources Inc
Symbol AQA
Shares Issued 271,539,638
Close 2017-04-03 C$ 0.25
Market Cap C$ 67,884,910
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Aquila Resources' U.S. operations VP Nelson dies

2017-04-04 13:11 ET - News Release

Mr. Barry Hildred reports

AQUILA RESOURCES MOURNS THE PASSING OF VP, US OPERATIONS CLIFF NELSON JR.

Aquila Resources Inc. has noted the sudden passing of Cliff Nelson, vice-president of U.S. operations, due to illness. Mr. Nelson is survived by his wife, parents, children and grandchildren.

"We are deeply saddened by the news of Cliff's passing and offer our deepest sympathies to his extended family," said Barry Hildred, chief executive officer of Aquila Resources. "Cliff was a gentleman in the truest sense of the word, who generously shared his mining knowledge as well as his love for the Upper Peninsula with everyone he worked with. He will be greatly missed."

Mr. Nelson joined Aquila Resources in January, 2016, after more than 35 years of operational, metallurgical and mine management experience across the United States. He had deep roots in the Upper Peninsula, where he was born and raised, and he was a graduate of the Michigan Technological University and Negaunee High School.

About Aquila Resources Inc.

Aquila's flagship Back Forty project in Michigan is a volcanogenic massive sulphide (VMS) deposit located along the mineral-rich Penokean volcanic belt in Michigan's Upper Peninsula. In its updated preliminary economic assessment filed in September, 2014, Back Forty demonstrated strong economics with a pretax NPV 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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