Aquila Resources Inc. (fka AQARF)

[Saving Grace]

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

TORONTO, Feb. 10, 2017 /CNW/ - Aquila Resources Inc. (TSX: AQA) ("Aquila"), a permitting-stage company advancing its zinc- and gold-rich Back Forty Project in Michigan's Upper Peninsula announced that Ian Pritchard has been appointed to the Company's Board as an independent director effective immediately. Mr. Pritchard was also named Chairman of Aquila's Technical, Environmental, Health & 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 pre-feasibility and feasibility studies, 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 UK. He also completed a Project Management program at the University of Pretoria in South Africa.

About Aquila Resources
Aquila Resources Inc. (TSX: AQA) is a development-stage company with strategic assets in the Great Lakes Region. The company's experienced management team is currently focused on advancing permitting activities for its 100%-owned gold- and zinc-rich Back Forty Project in Michigan.

Aquila's flagship Back Forty Project is a volcanogenic massive sulfide (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 pre-tax NPV of $282 million ($210.8 million after-tax) and a pre-tax IRR of 38.8% (32% after-tax) based on mining 16.1M tonnes of measured, indicated, and inferred resources over the 16-year life of mine, of which 12.5M tonnes will be open-pit and 3.6M tonnes will be underground.

http://www.aquilaresources.com/release/?id=122532