Aguila American Signs Community Agreement Proceeds with Drill Permitting
Published : May 09, 2011
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Keywords :   Canada | Gold | Market | Peru |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 9, 2011) - Aguila American Resources Ltd. ("Aguila") or (the "Company") (News - Market indicators) - Mr. John Huguet Reports:

The Company is pleased to announce it has received a Preliminary Access Agreement legalized by three authorised representatives of the local community situated nearest its Angostura gold project. This agreement formally allows Aguila to proceed with drill permitting for the advancement of its 100% owned, Angostura gold project. The initial term of the agreement is for one year where the Company has agreed to maximize local employment, assist in certain community enhancements such as access road and other basic infrastructure improvements and the provision of safety equipment for the community's informal miners along with basic safety training. The community is obligated to respect the terms and conditions of the agreement with the Company and to ensure appropriate internal coordination within sectors of the community for realization of the environmental impact study.

The community overwhelmingly passed a vote resulting in 61 – 4 in favour of upholding the formal Preliminary Access Agreement presented by the Company.

Much of the agreement is focussed around assisting the community in gaining control of the escalating illegal mining activity in the area and formalizing that activity to the benefit of the community while informing its members on the nature and form of the contemplated drilling activities. The Company is committed to consulting with and educating community members in an effort to involve them to the fullest extent in the process of exploration and the delineation of an economic resource while fostering full input into the necessary socio-economic and environmental studies, assessments and subsequent project planning. The majority of the mineralized zone and its potential on strike extensions lay in previously unoccupied areas that are partially bordered by marginal subsistence farm lands where coexistence with the limited competing interests are felt to be mitigatable.

John Huguet, Aguila American's President, states, "We are very pleased that after many years of impasse to finally achieve a mutually productive agreement with the nearest community at Angostura. This agreement will enhance the community and officially gives the Company a green light to proceed with exploration and development at our very prospective gold project. Aguila will endeavour to be leaders in stewardship of the environment and to set an excellent example, to the citizens in the surrounding area."

On behalf of the Board of Directors,

John Huguet, President & CEO

Aguila American Resources Ltd.

About Aguila

Aguila American Resources Ltd. is a publicly traded, natural resource development company involved in the exploration and development of mineral properties. Exploration plans are set to focus on the Angostura Gold Prospect in Southern Peru. This prospective gold exploration property is located approximately 430 kilometres southeast of Lima and 180 kilometres southwest of the city of Cuzco in the Department of Apurimac. Angostura covers approximately 3,800 hectares and is comprised of eight exploration concessions.

About Prime

Prime was founded in Vancouver, British Columbia Canada and specializes in serving micro to small cap companies that are publicly traded on the Toronto Venture Stock Exchange. Prime Communications specializes in elevating market awareness of our clients and their offerings within the global investment community. In doing so, Prime Communications Inc. endeavors to develop, sustain and heighten new market awareness and shareholder value through a strategic mix of brand marketing, corporate communications and investor relations services.

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.

Prime Communications Inc.
John-David A. Belfontaine
Founder and President
(604) 909-2303 or Toll free (866) 296-2195
info@primecom.ca
or
Aguila American Resources Ltd.
(604) 685-9316
(604) 683-1585 (FAX)
www.aguilaamerican.ca
Data and Statistics for these countries : Canada | Peru | All
Gold and Silver Prices for these countries : Canada | 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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