November 16, 2006 - Aguila American Resources Ltd. (TSX-V: AGL) is pleased to announce that company geologists have completed mapping and sampling along a new road that has cut across mineralized structure No.1. At road level the mineralized zone has a true width of approximately 13.0 meters, and appears to get significantly wider upwards. Systematic chip channel samples taken across this structure returned 3.28 g/t gold and 9.60 g/t silver across 13 meters. See table below for details:
Sample No. | Sample Type| Width (m)| g/t Gold | g/t Silver
2517 Chips 1.00 1.68 4.18
2518 Chips 1.00 0.40 1.20
2519 Chips 1.00 2.38 6.18
2520 Chips 1.00 0.62 1.65
2521 chips 1.00 0.46 1.30
2522 Chips 1.00 1.82 39.62
2523 Chips 1.00 7.76 34.86
2524 Chips 1.00 15.33 20.63
2525 Chips 1.00 3.40 2.36
2526 Chips 1.00 0.42 2.38
2527 Chips 1.00 0.75 3.15
2528 Chips 1.00 1.18 0.78
2529 Chips 1.00 13.00 6.50 3.28 6.50 9.60
Previous trenching and outcrop mapping defined a width of 75 meters for Structure No. 2, with an average grade of 3.64 g/t gold. This silica-rich, iron-manganese oxide structure has been observed, by trenching and sampling, to continue approximately 2.1 km west of Structure 1 and approximately 2.7 km east of it.
Aguila American Resources Ltd.
Gold mineralization on the Angostura Property is hosted within a elongated ENE trending silica-rich, iron-manganese structure in limestone. The mineralization is structurally related to the E-W trending, south dipping regional Vilcabamba Fault. The oxide mineralization is characterized by massive replacement of a collapsed limestone breccia structure.
The company is now in the process of organizing a diamond drill program to cut through Structures 1 and 2. It should be noted that the property has not been drilled previously.
The Angostura Property covers approximately 4,100 hectares and consists of two exploration concessions and 5 claims, which cover the main portion of the Angostura Gold Prospect. The project area is located in southern Peru in the Department of Apurimac, approximately 430 kilometers southeast of Lima and 80 kilometers southwest of the city of Cuzco, and can be reached along paved highways and gravel roads. The area is mountainous and elevations on the property vary between approximately 3,300 meters and 4,400 meters.
The Qualified Person for this news release is Victor Jaramillo, P.Geo. of Discover Geological Consultants.
Aguila American Resources Ltd. (TSX.V-AGL) is focused on growth both organically and through acquisitions. The company is actively pursuing new properties with potential for early stage gold and silver targets. Andean American continues to maintain excellent community relations and a commitment to responsible environmental practices.
On behalf of Aguila American Resources Ltd.,
"John Huguet" John Huguet President & CEO
This news release may contain forward-looking statements regarding upcoming work programs and events. Actual results may differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release
