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Aquila Resources announces grant of 3.95 million options

Shares Outstanding: 220,827,374

TORONTO , April 7, 2015 /CNW/ - Aquila Resources Inc. (TSX: AQA) (FKT: JM4A) (the "Company", "Aquila"), a development-stage company with assets in the Great Lakes Region including its 100%-owned gold- and zinc-rich Back Forty Project in Michigan's Upper Peninsula ("Back Forty"), announced today that it has granted 3.95 million options to certain Directors, consultants and officers. All options are exercisable at $0.19 per share and expire in five years. Of the total options granted, 1,737,500 vest immediately and 2,212,500 will vest on each of the first, second and third anniversaries.

About Aquila Resources
Aquila Resources Inc. (AQA.TO) (JM4A.F) is a development-stage company with assets in the Great Lakes Region including its 100%-owned gold- and zinc-rich Back Forty Project in Michigan's Upper Peninsula.

This press release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" and similar expressions suggesting future outcomes or statements regarding an outlook.

Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statements with respect to the Proposed Transaction, including the anticipated terms and use of proceeds thereof the anticipated closing date.

These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Aquila to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein. Aquila expressly disclaims any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Aquila's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.

SOURCE Aquila Resources Inc.

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Contacts: Barry Hildred, CEO, Aquila Resources Inc., Tel: 416 477 6985, Email: [email protected]; Joe Racanelli, TMX Equicom, Tel: 416 815 0700 ext. 243, Email: [email protected]
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