Aguila Negotiates More Favourable Terms for Angostura Gold Project
Published : March 03, 2011

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Keywords :   Gold | Market | Peru |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2011) - Aguila American Resources Ltd. (News - Market indicators) ("Aguila") or (the "Company") - Mr. John Huguet Reports:

The Company has entered into a purchase agreement to acquire 100% of the Angostura Gold Project in Peru. This purchase agreement replaces a previous option agreement on the same property. The re-negotiated purchase agreement allows the Company to acquire a 100% interest in the project upon the payment of US $600,000 payable in instalments over two years. A 2% NSR of gross metal sales is payable to the vendor and is capped at $2 million. In the event that production does not commence by May 15, 2012, advance NSR payments of $100,000 per annum are due beginning in May 2013.

The previous option agreement had called for Aguila to acquire only 60% of the project with the same cash payment as the new purchase agreement. The Company was required to perform a $2 million work program as well as issue shares. If the Company advanced the project all the way to bankable feasibility, Aguila could earn an additional 15%, for a final interest of 75%.

"We are very pleased with the re-negotiation of the terms of the Angostura Project agreement. The prospect of owning 100% of this gold project without any further dilution is of significant benefit to our shareholders and allows us much more flexibility as we move forward with development," said John Huguet, President and Chief Executive Officer of Aguila.

The Angostura property is comprised of eight concessions which cover the main portion of the Angostura Gold Project. The project is located in southern Peru in the Department of Apurimac, approximately 430 kilometers southeast of Lima and 180 kilometers southwest of the City of Cuzco.

The agreement is subject to TSXV approval.

On behalf of the Board of Directors,

John Huguet, President & CEO

Aguila American Resources Ltd.

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.

For more information, please contact

Aguila American Resources Ltd.
John Huguet
President & CEO
604-685-9316
604-683-1585 (FAX)
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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