AQUILA RESOURCES ANNOUNCES THIRD QUARTER 2018 FINANCIAL RESULTS
Shares Outstanding: 331,183,671
TORONTO, March 1, 2018 /CNW/ - Aquila Resources Inc. (TSX: AQA) ("Aquila" or the "Company") announced today that Michael Welch has been appointed Chief Operating Officer ("COO"), effective immediately.
With more than 30 years of experience, Mr. Welch was previously the Managing Director and President of the Board of Directors for Lundin Mining Corporation's ("Lundin") Somincor Operations, which include the Neves-Corvo copper and zinc mine in Portugal. Prior to that, he was responsible for the construction completion and start-up of operations for Lundin's Eagle Mine in Northern Michigan, U.S.A. Before joining Lundin, Michael was the Vice President of Operations for Xstrata Nickel's Raglan Operation in Quebec, Canada.
Michael will assume responsibility for the Company's activities at its Back Forty Project in Michigan where he will lead operational readiness and help drive the seamless integration from project to operations. He will also oversee occupational health and safety, environment, stakeholder engagement and sustainability, exploration and the Company's regional growth strategy.
"We are excited that Mike is joining our senior leadership team. His experience and leadership skills will be highly valuable to the successful development of the Back Forty Project," said Barry Hildred, President and Chief Executive Officer of Aquila. "Mike has a successful track record of building and improving profitable mining operations, including at Lundin's Eagle Mine in Michigan's Upper Peninsula where he served as General Manager. We look forward to benefiting from his hands-on approach in the areas of business improvement, health and safety, sustainability, project evaluation and strategic planning."
Mr. Welch commented, "My family and I are excited to return to the Upper Peninsula to be a part of the Stephenson community and the Aquila team. Guided by Aquila's business principles, Back Forty will be a safe, disciplined operation that promotes and supports local community socio-economic development and is protective of the environment."
The Company also announced that Andrew Boushy, VP Project Development has been appointed Senior Vice President, Projects.
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 and engineering activities for its 100%-owned zinc- and gold-rich Back Forty Project in Michigan.
Aquila's flagship Back Forty Project is an open pit volcanogenic massive sulfide deposit with underground potential located along the mineral-rich Penokean Volcanic Belt in Michigan's Upper Peninsula. The Project contains approximately 1.1 billion pounds of zinc and 1 million ounces of gold in the M&I categories, with additional upside potential. Currently Aquila is working to secure the final State permit required to build and operate Back Forty while completing a Feasibility Study.
The Company has three other exploration projects: Reef Gold Project located in Marathon County, Wisconsin, the Bend Project located in Taylor County, Wisconsin and Aquila Nickel located in the Upper Peninsula, Michigan. Reef is a gold-copper property and Bend is a volcanogenic massive sulfide occurrence containing copper and gold.
Barry Hildred, CEO Aquila Resources Inc. Tel: 647.943.5672 Email: bhildred@aquilaresources.com
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