Aguila American Resources Ltd.

Published : March 31st, 2016

Aguila American Gold Provides Update On Angostura Property, Peru

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Keywords :   Georgia | Gold | Peru | Tax | Water |

Aguila American Gold Provides Update On Angostura Property, Peru

Vancouver, British Columbia - March 31st 2016: Aguila American Gold Limited ('Aguila' or the 'Company') (TSX-V: AGL) Mr. John Huguet, President and CEO, provides the following update:

The Peruvian Government have put teeth and actions together in their new Mining Laws aimed at converting illegal and informal mining activities into mainstream taxpaying businesses. The Government has provided a 4 year grandfathering period to allow informal miners to enter proper tax paying status. This 4 year period ends in April of this year. The new laws should bring many benefits to the miners and the environment, as well as growing the country's GDP.

Initially the government underestimated the quantity of minerals being processed and the number of informal miners involved. Today estimates exceed 200,000 miners working in clandestine operations which continue to cause damage to the environment and less than safe mining practices. Recently the Government has totally destroyed 34 illegal processing plants which were receiving and processing minerals from illegal sources. The Company has devoted resources; including investing in engineering studies to investigate opportunities resulting from steps the government is taking regarding formalization of informal miners. From this was born the Company's 'El Triunfo' project.

El Triunfo is a project to construct a central 350 TPD high grade gold processing plant. There are 56 surrounding communities currently producing between 5 and 80 tonnes per day of high grade gold offering their minerals to the Company. Engineering for the plant was completed in 2015, needing only vendor finalization to complete foundation works. The Environmental Impact Assessment was completed during 2015, importantly for a 15 year production period. All access and required project infrastructure has also been granted permits. The project is environmentally sustainable with zero liquid effluent and maximized recycling principles incorporated. Power, water and hard surfaced roads are also permitted and respect all local community wishes. Importantly, the 350 tonne per day plant incorporates a crushing and grinding circuit which can operate on a one shift basis. The back end agitated leach portion of the design is easily expandable should sufficient minerals and government approvals be available. Currently 1,400 TPD of minerals are being produced in the local area.

Aguila was the first company in the Department of Apurimac to formalize mineral production in the zone. This was achieved through alignment with the local communities and all levels of government.

The monetary improvements to the mineral producers are several times more beneficial on an individual, quality of life, new community infrastructure, education and health care basis. All of this based on the investigation Aguila has carried out over the past 2 years.

Aguila is currently investigating forms of financing for the proposed project.

ON BEHALF OF THE BOARD,

'John Huguet'
John Huguet
President and CEO


Aguila American Gold Limited

Aguila American Gold Limited is an emerging gold exploration company with an experienced executive management team focused on advancing and developing their prospective gold project, Angostura. Angostura is located 180 kilometres southwest of city of Cuzco, in the Department of Apurimac, southwestern Peru. Angostura is located in a prolific mineral trend, approximately 25 kilometres from the Las Bambas Mine, a major mining project being developed in the area.

For more information visit www.aguilagold.com

Aguila American Gold Limited
Tel: (604) 685 9316
Fax: (604) 683 1585
http://www.aguilagold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Georgia | Peru | All
Gold and Silver Prices for these countries : Georgia | Peru | All

Aguila American Resources Ltd.

EXPLORATION STAGE
CODE : AGL.V
ISIN : CA0086312026
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Aguila American Res. is an exploration silver and gold company based in Canada.

Its main exploration property is ANGOSTURA PERU in Peru.

Aguila American Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 10.1 millions as of today (US$ 7.9 millions, € 6.5 millions).

Its stock quote reached its highest recent level on March 11, 2011 at CA$ 2.80, and its lowest recent point on May 15, 2017 at CA$ 0.03.

Aguila American Res. has 20 599 749 shares outstanding.

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Financings of Aguila American Resources Ltd.
5/19/2011Announces Closing of $5,379,750 Financing Via Short Form Off...
Nominations of Aguila American Resources Ltd.
9/19/2012Appoints Additional Director
Project news of Aguila American Resources Ltd.
2/18/2011(Angostura Peru)Aguila samples 16 g/t at 3 million ounce Gold target in Peru
2/18/2011(Angostura Peru)Completes Work Program on Peru Gold Project
11/30/2006(Angostura Peru)2006 Technical report
Corporate news of Aguila American Resources Ltd.
7/6/2016Aguila American Gold closes non-brokered Private Placement
6/16/2016Aguila American Gold Amends Non-Brokered Private Placement
6/13/2016Aguila American Gold Announces Non-Brokered Private Placemen...
5/3/2016Aguila American Gold Frankfurt Listing
4/27/2016Aguila American Gold Grants Stock Options
3/31/2016Aguila American Gold Announces Closing Of Non-Brokered Priva...
3/31/2016Aguila American Gold Provides Update On Angostura Property, ...
11/2/2015Aguila American Announces Approval of Environmental Impact A...
8/18/2014Aguila Provides Corporate Update
4/24/2013Gold Limited: Angostura Gold Project Drill Program Results
11/8/2012Announces Former Ventana Gold Executive as CEO
10/25/2012Gold Limited: Drilling Commences at Angostura Gold Project
3/5/2012(AGL:TSX-V) Signs Community Agreement and acquires Drill Per...
8/31/2011Gold Ltd. Featured in Gold Report Newsletter
7/22/2011 Growing Global Confidence in the Evolving Poli-Economic Cli...
5/9/2011Signs Community Agreement Proceeds with Drill Permitting
3/3/2011Negotiates More Favourable Terms for Angostura Gold Project
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