Aguila American Resources Ltd.

Published : August 18th, 2014

Aguila Provides Corporate Update

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Keywords :   Debt | Gold | Peru |

Aguila Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 18, 2014) - Aguila American Gold Limited ("Aguila") or (the "Company") - (TSX VENTURE:AGL) is pleased to report on the preliminary results of the Company's investigation into the viability of a small production facility for the Company's Angostura project.

The Company has in place a five year community agreement with the community of Mollepina, see news release dated March 12 2014. The Company is in the final stages of completing the formalization of the Artisan Miners, in accordance with Peruvian regulations, which, when completed, will allow the legal production and processing of minerals by the Artisan Miners. In addition Aguila has signed a five year agreement with the community for the use of a 30 hectare site to build a mineral processing facility. The basic facility is being designed around a 350 tpd agitated leach gold processing plant. The plant will feature an oversized coarse ore stockpile, multiple weigh scales and assay facilities to accommodate multiple sources. The plant will be able to effectively treat high grade gold to accommodate the local production variances.

The Company has recently commissioned an Environmental Impact Assessment ("EIA"), in accordance with Peruvian mining legislation. The EIA is substantially complete pending only the certificate from the Director Regional Energy and Mines ("DREM") for the formalization of the Artisan Miners to be included in the submission. The EIA should have initial government observations within 30 working days of submission.

The preliminary investigation into the technical and financial viability of the Company's business plan has yielded positive feedback. The Company is investigating financing options, including debt facilities, to finance the production facility and initial working capital for the acquisition of the unprocessed minerals from the local, legalized, communities.

The Company has taken these actions in light of the Peruvian Government's initiatives to enforce the legalization of the Artisan Miners in Peru and bring them into a taxable mainstream. Approximately 70,000 Artisan Miners have applied to be formalized since the government instituted the new mining laws. The government estimates another 100,000 - 140,000 Artisan Miners remain to be formalized. In support of the new legislation and as demonstration of its resolve to enforce the legislation the government forces has been destroying illegal processing plants across the country. The Company is working closely with the government's regional Energy and Mining offices to ensure alternate, legal processing facilities will be available.

ON BEHALF OF THE BOARD,

John Huguet, President and CEO

Aguila American Gold Ltd.

Aguila American Gold Ltd. 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 by Xstrata Mining Pty.

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 finance.yahoo.com
Data and Statistics for these countries : Peru | All
Gold and Silver Prices for these countries : 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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