Thabazimbi Iron Ore Project Resource Increases to 47.6Mt

Aquila Resources Limited is pleased to recontrol room of a crushing plantport an update to the JORC Resource estimate for the Thabazimbi Iron Ore Project (“the Project”) located in the Limpopo Province of South Africa.

The Project is managed by the Company on behalf of the Thabazimbi Joint Venture, in which it holds a 74% interest.

Thabazimbi Iron Ore Project

The Project is located 30km east of the town of Thabazimbi and 230km north of Johannesburg, in a traditional mining area where Kumba Iron Ore Limited (“Kumba”) has been operating for many years.

An extensive reverse circulation drilling program continues on the Meletse Deposit, which is evaluating six lenses of high grade hematite suitable for open pit mining of direct shipping ore (“DSO”) for domestic and/or international customers.

Golder Associates Africa (Pty) Ltd was commissioned to construct a geological model and update the in-situ resource estimate.

Highlights

• Total JORC Iron Ore Resource at Meletse now totals 47.6Mt


• 25.7Mt (117%) increase from the previous Resource statement


• 33% of the Resource is now categorised as Indicated


• Significant expansion potential as the Deposit remains open at depth and along strike


• Project Resources may support up to 4Mtpa open pit operations