Aquila Drills 19.3 Meters @ 11.73% Zinc Gold Intercept 6 Meters @ 32.9 g/t Gold and 189.4 g/t Silver

Market Wire, November, 2006

AQUILA RESOURCES INC. (TSX VENTURE: AQA)(FRANKFURT: JM4A) ("Aquila" or the "Company") today announced more drill results from the near surface East Zone as well as a high grade gold intercept on a porphyry intrusive margin.

East Zone highlights include:

- 19.3 meters of 11.73% zinc followed by 22.5 meters of 5.11 g/t gold in LK-112E

- 28.4 meters of 5.54 g/t gold, 0.80% copper and 2.84% zinc in LK-107E

- 52.1 meters of 2.13 g/t gold in LK-108E

A plan view map showing the location of the holes in the table below can be accessed at http://www.aquilaresources.com/projects.php#map


Details of these intercepts are presented in the table below.
---------------------------------------------------------------------------
                 East Zone and LK-80 Extension Drill Results
---------------------------------------------------------------------------
         All Intervals
           In Meters    Est.     g/     g/
         -------------  True  tonne  tonne      %     %       %
Hole #   From     To   Width   Gold Silver     Cu    Pb      Zn Description
---------------------------------------------------------------------------
LK-106E 49.25  50.75     1.5   4.18  20.00    0.25 0.05 pending     Massive
                                                                    sulfide
---------------------------------------------------------------------------
                                                                    Gossan,
                                                                  massive &
                                                                   stringer
LK-107E  10.2   38.5    28.4   5.54  23.49    0.80 0.01    2.84    sulfides
        -------------------------------------------------------------------
includes 10.2   11.6     1.5  13.90  11.17    0.01 0.02    0.02      Gossan
        -------------------------------------------------------------------
                                                                    Massive
         11.6   25.0    13.4   3.61  18.92    0.93 0.01    5.56     sulfide
        -------------------------------------------------------------------
                                                                    Massive
                                                                  sulfide &
         25.0   38.5    13.5   6.55  29.36    0.76 0.01    0.45   stringers
---------------------------------------------------------------------------
                                                                    Gossan,
                                                                  massive &
                                                                   stringer
LK-108E   7.9   60.0    52.1   2.13   9.63    0.40 0.01    0.08    sulfides
        -------------------------------------------------------------------
                                                                   Gossan &
                                                                   oxidized
includes  7.9   13.4     5.5   5.55   5.81    0.01 0.02    0.01    rhyolite
        -------------------------------------------------------------------
         12.0   13.4     1.3  17.39  14.76    0.01 0.01    0.01      Gossan
        -------------------------------------------------------------------
                                                                    Massive
         13.4   36.0    22.6   1.79  11.69    0.51 0.02    0.18     sulfide
        -------------------------------------------------------------------
                                                                    Sulfide
         36.0   60.0    24.0   1.65   8.56    0.38 0.01    0.01    stringer
---------------------------------------------------------------------------
LK-109E  Drilled in Mafic dike, no signifcant assays
---------------------------------------------------------------------------
                                                                    Massive
LK-112E  52.2   71.5    19.3   1.66  10.71    0.13 0.01   11.73     sulfide
        -------------------------------------------------------------------
                                                                   Stringer
         71.5     94    22.5   5.11   9.20    0.24 0.01    0.14    sulfides
---------------------------------------------------------------------------
LK-80   229.0  235.0     5.2  32.93  189.4      NA   NA      NA    Porphyry
Ext.                                                                 margin
---------------------------------------------------------------------------

A drill intercept in a porphyry margin included 6 meters of 32.9 g/t gold and 189.4 g/t silver in drill hole LK-80 which was extended to greater depth. The intercept contained visible gold.

Drill results from massive and stringer sulfides at the East Zone continue to show good grades and thicknesses, enhancing the near surface potential of this zone. The gold intercept in the extension of LK-80 onto the MRT ground represents the tenth intercept along the margin of the central quartz feldspar porphyry intrusion which is closely associated with the Main Zone massive sulfide. Nine additional intercepts along this porphyry margin have been encountered in previous drilling over a strike length of 325 meters, at depths ranging from 125 to 350 meters with grades up to 54.01 g/t gold over 3 meters.

 

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