NEWS RELEASE
July 22, 2004
Aguila American Resources Ltd. (TSX-V: AGL) is pleased to report the receipt of good title to the 900 hectare exploration claim as an integral part of its Angostura project in South Eastern Peru.
This property, known as Angostrura II, was ruled by the Mine Registry office in Lima, Peru as having simultaneous staking with more than 6 legal claims filed for ownership.
The Board of Directors is pleased to advise the simultaneous auction resulted in award to Aguila for the full 900 hectares as originally staked.
This confirmation of good title is viewed as a material event by the Company as it expands the area along strike controlled by Aguila to 2,300 hectares and stretch length to over 4,900 meters.
With this confirmed title, Aguila will now proceed with the planned drill program as first announced June 9, 2004.
There remains 3 small properties in the surrounding area also ruled as simultaneous staking but now viewed by the Company as material to the geology of the property.
The Angostura Property covers approximately 4,100 hectares and consists of three exploration concessions and three 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 metres and 4,400 metres. The geology of the property consists of moderate to steep north dipping cretaceous limestones of the ferrobamba formation which trend ENE along a corridor that ranges in width from approximately 200 meters to the west to greater than 500 meters in the eastern area. This limestone corridor is in fault contact (Vilcabamba Fault) to the south with interbedded thin layers of quartz sandstones/siltstones and shales of the soraya formation of lower cretaceous age, and to the north by tertiary granodioritic intrusive rocks of the apurimac batholith.
The Angostura is by definition, a property of merit. Having two, 43101F technical reports filed in 2002 and 2003 respectively by Aguila and 5 technical reports provided by vendors.
ON BEHALF OF THE BOARD
"John Huguet"
John Huguet President & Director
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press.
