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Message: The Navidad Silver Project in Chubut, Snowden Mining Industry Consultants Inc.

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The Navidad Silver Project in Chubut, Snowden Mining Industry Consultants Inc.

posted on Apr 17, 09 10:46AM

http://www.yourindustrynews.com/news...

Aquiline Resources Inc.: Navidad Measured and Indicated Mineral Resource Up 40% to 632 Million Oz Silver With 751 Million Oz Silver in All Categories

Friday, Apr 17, 2009

Aquiline Resources Inc. ("Aquiline" or the "Company")(TSX:AQI) is pleased to report an updated mineral resource estimate ("Updated Resource Estimate") for the Navidad Silver Project in Chubut, Argentina. Snowden Mining Industry Consultants Inc. ("Snowden") estimate the Updated Resource Estimate to contain 632 million ounces of silver and 2.9 billion pounds of lead in the Measured and Indicated categories plus an additional 119 million ounces of silver and 580 million pounds of lead in the Inferred category (see table below). John Chulick, Vice President of Exploration commented: "The new Valle Esperanza zone alone represents a significant high-grade addition to the global resource, contributing 68 million ounces of silver in the Indicated class plus another 43 million ounces of Inferred." The 2009 Resource Update Report will be filed on SEDAR and published on the Aquiline website within the next four weeks.

The previous mineral resource estimate from November 2007, also completed by Snowden, is shown as an appendix for comparison with the Updated Resource Estimate. The silver equivalence values used for reporting the Updated Resource Estimate use different silver and lead metal prices than the November 2007 estimate, reflecting changes in metal prices in the intervening year.

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