Mr. Barry Hildred reports

AQUILA RESOURCES ANNOUNCES COMPLETION OF FINANCING TRANSACTION WITH OSISKO

Aquila Resources Inc. has completed its previously announced financing transaction with Osisko Bermuda Ltd. (OBL), a wholly owned subsidiary of Osisko Gold Royalties Ltd., pursuant to which OBL has committed $65-million (U.S.) to Aquila through a $10-million (U.S.) private placement and $55-million (U.S.) gold stream purchase agreement.

About Aquila Resources Inc.

Aquila Resources is a development-stage company with strategic assets in the Great Lakes region. The company is currently focused on advancing permitting activities for its 100-per-cent-owned high-grade polymetallic Back Forty project in Michigan.

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