Aquila Resources Announces Receipt of Amended Mining and Air Permits for Back Forty Mine

TORONTO, Dec. 12, 2019

TORONTO, Dec. 12, 2019 /PRNewswire/ - Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) ("Aquila" or the "Company") announced that the Michigan Department of Environment, Great Lakes, and Energy ("EGLE") approved amendments to Aquila's Nonferrous Metallic Mineral Mining Permit ("Mining Permit") and its Michigan Air Use Permit to Install ("Air Permit") for its Back Forty Project. The amendments update the permits to align with the project design outlined in the August 2018 open pit Feasibility Study as well as in its Wetlands Permit that was issued June 4, 2018.

Barry Hildred, President & CEO of Aquila, commented, "The approval of these permit amendments mark another significant milestone for the Company as we advance through the pre-construction phase at Back Forty. As with the recent decision by the EGLE environmental review panel to uphold the Mining Permit, this decision followed an extensive environmental and technical review process. The Back Forty Mine will be a safe, disciplined operation that promotes and supports the local community, socio-economic development, and environmental protection."

ABOUT AQUILA RESOURCES
Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) is a development‐stage company with strategic assets in the Great Lakes Region. The Company's experienced management team is focused on advancing pre-construction 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 1.1B pounds of zinc and 1M ounces of gold in the Measured & Indicated Mineral Resource categories, with additional upside potential.

The Company has two other exploration projects: Reef Gold Project located in Marathon County, Wisconsin and the Bend Project located in Taylor County, Wisconsin. Reef is a gold-copper property and Bend is a volcanogenic massive sulfide occurrence containing copper and gold.

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