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Aquila Resources Provides Corporate Update

Received an outpouring of local support from senior leadership in Michigan Will continue to work with EGLE to finalize the Back Forty groundwater model in support of a revised application seeking a reissuance of the Wetlands Permit Will undertake optimization studies to assess Project opportunities Evaluating financing alternatives with support from key stakeholders TORONTO–(BUSINESS WIRE)–Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) (“ Aquila” or the “ Company”) is pleased to provide an update on its strategy to advance its Back Forty Project in Michigan’s Upper Peninsula following the January 4, 2021 decision by an Administrative Law Judge (“ Judge”) denying the prior issuance of a wetland/stream/floodplain permit (“

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