Aquila Resources Announces Organizational Changes

Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) (“Aquila” or the “Company”) is pleased to announce the appointment of Guy Le Bel as President & CEO of Aquila, effective February 1, 2021. Barry Hildred will transition to the role of Executive Chair of the Board of Directors. The Board has appointed Ted Munden, outgoing Chair of the Board of Directors, to the position of Lead Director.

“My focus as Executive Chair will be supporting Guy as he drives the Back Forty Project and our exploration projects in Wisconsin through their next phase of development,” said Barry Hildred. “I look forward to working closely with Guy on strategic initiatives, capital raising, and stakeholder relations.”

Guy Le Bel brings more than 35 years of experience in business and project development, strategic and financial planning, and permitting in the Americas to Aquila. Most recently, he was CEO and CFO of Golden Queen Mining Ltd. until its acquisition in 2020 by Falco Resources Ltd. Mr. Le Bel was previously Vice President, Evaluations for Capstone Mining Corp. and Vice President, Business Development for Quadra/FNX Mining Ltd. Mr. Le Bel also held business advisory, strategy and planning, business valuation, and financial planning management roles at BHP Billiton Base Metals, Rio Algom Ltd, and Cambior Inc., together with independent consultation mandates across the industry. He provides extensive experience across base and precious metals industries in the Americas. Mr. Le Bel has held board positions in numerous junior exploration and mining companies since 2007 and currently serves on the Board of Pembridge Resources plc. and Kintavar Exploration Inc. Mr. Le Bel holds an MBA Finance from Ecole des Hautes Études Commerciales (Montreal), a Master Applied Sciences, Mining Engineering from the University of British Columbia and a B.Sc. Mining Engineering from Université Laval. He is a Professional Engineer (O.I.Q.).

“The Board thanks Barry for his leadership and ongoing commitment to Aquila,” said Lead Director Ted Munden. “Since joining the Company as President & CEO in 2013, Barry has been instrumental in recapitalizing the Company, completing the repurchase of the Back Forty Project from Hudbay Minerals, successfully closing two streaming deals, and advancing the Back Forty Project through the permitting and study phase. We welcome Guy as President & CEO and look forward to benefitting from his significant technical and financial experience.”