Aquila Resources NI 43-101 Report Estimates 582,000 Oz Gold M + I

Aqulia Resources Inc. has filed an NI 43-101 compliant resource estimate for its Back Forty project in Michigan. Estimated resources are 8.5 million tonnes, measured and indicated, of 2.13 g/t gold, 5.61% zinc, 30.6 g/t silver and 0.51% copper. Inferred resources make up 1.17 million tonnes of 2.9 g/t gold, 4.4% zinc, 41.7 g/t silver and 0.21% copper. The news release also mentions the granting of 1.85 million stock options with five-year terms and 15 cent strike price, and outlines efforts by Aquila to seek financing for the Back Forty.

Aquila closed at 20.5 cents yesterday. As of the time of this posting, the bid-ask was 21-23.5 cents, indicating a higher open.

The company's Google Finance web page is here.

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