Aquila Resources

Primary ticker: TSX:AQA; OTCQB:AQARF
Stage of development: Development
Primary minerals: Zinc, Gold
Project to promote: Back Forty

Live financials

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. Back Forty is an open pit volcanogenic massive sulfide deposit with underground potential located along the mineral‐rich Penokean Volcanic Belt in Michigan’s Upper Peninsula. Aquila has received all State and Federal permissions required for the construction and commencement of operations at the Back Forty Project. The Company also has earlier stage exploration properties in Wisconsin.

Management Profile

Barry Hildred, President & CEO

Currently a director and Past-Chair of The Children’s Aid Foundation of Canada. Founder and Former President of TMX Equicom. 25+ years of capital markets experience.


Dave Carew, Director of Corporate Development and Investor Relations

Former VP Corporate Development and Investor Relations at Aldridge Minerals and previously a mining industry-focused investment banker. 10+ years of capital markets experience.

What is your rationale for attending 121 Mining Investment?

Our focus this year is evaluating financing alternatives for the project (~$250M capital required) as well as strategic alternatives for the company.

What recent news would you like to highlight to investors attending?

On June 4, 2018, the Company announced that it received its Wetlands Permit from the Michigan Department of Environmental Quality for its Back Forty Project. Aquila has now received all State and Federal permissions required for the construction and commencement of operations at the Back Forty Project.

On August 1, 2018, the Company announced the results of an independent open pit only Feasibility Study for its Back Forty Project. The Company has also identified a number of opportunities to further enhance the overall economics of the Project including the future addition of an underground expansion.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

• The Company will continue to evaluate a mine expansion design and business case for underground operations. A Preliminary Economic Assessment is expected to be published in a future period. • The Company is also evaluating its strategy and funding alternatives with respect to its exploration projects in Wisconsin in light of the recent repeal of the decades-old moratorium on non-ferrous mining in the state.

6 Months:

• During the balance of 2019, the Company will continue discussions with prospective financial partners to secure the required capital to construct the Back Forty Project. Aquila, with the assistance from its advisors, will consider all strategic and financial options available to the Company and the Project. • Pre-construction activities including project set-up will continue to advance at the Back Forty Project.

12 Months:

• In addition to recently filled positions, the Company will continue to add to its leadership team to prepare for the construction and operational readiness phases of the Back Forty Project.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Raising the project financing required to build the Back Forty Project.

In a sentence, what do you think makes your company such a compelling investment?

Aquila owns 100% of the Back Forty Project in Michigan, a well-established and safe mining jurisdiction. The project has favourable exposure to gold and zinc with significant upside potential. Back Forty is also one of only a handful of permitted greenfield projects in the US. The Company is well-funded and is supported by strong shareholders.