Aquiline Resources Inc.: Navidad Measured and Indicated Mineral Resource Up 52% to 453 Million Oz Silver-Conference Call Scheduled Thursday, Nov. 15 at 4:00 PM ET-

Market Wire, November, 2007

Aquiline Resources Inc. ("Aquiline" or the "Company") (TSX: AQI) is pleased to report an updated Mineral Resource estimate ("Current Resource Estimate") for the Navidad Project completed by Snowden Mining Industry Consultants Inc. ("Snowden"). The Current Resource Estimate comprises 453 million ounces of silver and 3 billion pounds of lead in the Measured and Indicated categories plus 153 million ounces of silver and 546 million pounds of lead in the Inferred category (see table below). John Chulick, Vice President of Exploration commented "This confirms Navidad as one of the largest undeveloped silver resources in the world". A Technical Report detailing the update will be filed on SEDAR and published on the Aquiline website within the next two weeks.

---------------------------------------------------------------------
          November 2007 Mineral Resource (50 g/t AgEQ grade cut-off)
---------------------------------------------------------------------
                     Tonnes   AgEQ      Ag     Pb     Ag       Pb
CLASSIFICATION          (Mt)  (g/t)   (g/t)    (%)  (Moz)    (Mlb)
---------------------------------------------------------------------
Measured               15.8    226     150   1.57
---------------------------------------------------------------------
Indicated             111.9    152     105   0.99
---------------------------------------------------------------------
Measured   Indicated  127.7    161     110   1.06    453    2,988
---------------------------------------------------------------------
Inferred               49.0    121      97   0.50    153      546
---------------------------------------------------------------------

Note:

 The most likely cut-off grade for this deposit is not known at this
 time and must be confirmed by the appropriate economic studies.
 Silver equivalent grade values are calculated without consideration of
 variable metal recoveries for silver and lead.
 Three year rolling average metals prices of US$10.00/oz and lead
 price of US$0.70/lb was used to derive an equivalence formula of
 AgEQ equals Ag   (Pb x 10,000 / 208).
 The estimated metal content does not include any consideration of
 mining, mineral processing, or metallurgical recoveries.
 The estimate of Mineral Resources may be materially affected by
 environmental, permitting, legal, title, taxation, socio-political,
 marketing, or other relevant issues.
-----------------------------------------------------------------------

The previous Mineral Resource estimates, also completed by Snowden, for IMA Exploration Inc. ("IMA") in May and September 2006 are shown below for comparison with the Current Resource Estimate. The silver equivalence values in this table use different silver and lead metal prices than the previous table; this reflects changes in metal price in the intervening year.

-----------------------------------------------------------------------
 May and September 2006 Mineral Resources (50 g/t AgEQ grade cut-off)
-----------------------------------------------------------------------
                     Tonnes   AgEQ      Ag    Pb     Ag       Pb
CLASSIFICATION          (Mt)  (g/t)   (g/t)   (%)  (Moz)    (Mlb)
-----------------------------------------------------------------------
Measured                4.2    253     123  3.25
-----------------------------------------------------------------------
Indicated              89.4    149      98  1.28
-----------------------------------------------------------------------
Measured   Indicated   93.6    154      99  1.37    299    2,822
-----------------------------------------------------------------------
Inferred               10.9     98      66  0.79     23      190
-----------------------------------------------------------------------

Note:

 The most likely cut-off grade for this deposit is not known at this
 time and must be confirmed by the appropriate economic studies.
 Silver equivalent grade values are calculated without consideration of
 variable metal recoveries for silver and lead. A silver price of
 US$6.00/oz and lead price of US$0.35/lb was used to derive an equivalence
 formula of AgEQ equals Ag  (Pb x 10,000 / 250). Silver and lead prices are
 based on a three-year rolling average.
 The estimated metal content does not include any consideration of mining,
 mineral processing, or metallurgical recoveries.
 The estimate of Mineral Resources may be materially affected by
 environmental, permitting, legal, title, taxation, socio-political,
 marketing, or other relevant issues.
-----------------------------------------------------------------------

The September 2006 Mineral Resource estimate was never filed on SEDAR by IMA, as it was received during the ownership transition period to Aquiline, which was completed in October 2006. The last publicly filed Mineral Resource estimate was the May 2006 amendment, filed on SEDAR by IMA in June 2006. The May and September 2006 Mineral Resource estimates incorporated 254 drillholes distributed over the five zones, Calcite Hill NW, Calcite Hill, Navidad Hill, Connector Zone, and Galena Hill. The Current Resource Estimate incorporates 265 additional drillholes (see appended map) and more importantly, establishes two new zones, Barite Hill and Loma de La Plata. Loma de La Plata is mainly Inferred, with 9.1 million tonnes grading 225 g/t Ag (Indicated) and 17.3 million tonnes grading 159 g/t Ag (Inferred), or 66 million silver ounces (Indicated) and a further 89 million ounces (Inferred), all at above a 50 g/t AgEQ cut-off.