Aquiline Releases New Navidad Results Including 97.6 Meters of 417 g/t Silver

Aquiline Resources Inc. ("Aquiline") (TSX: AQI) is pleased to report on the results of 26 new diamond drill holes at the Navidad Project in Chubut Province, Argentina. The holes were completed under the planning and direct supervision of Aquiline Resources Inc. between November - December of last year and were all drilled within the defined resource areas between Galena Hill and Navidad Hill. All 26 holes encountered the targeted mineralized zone and 24 had reported intercepts with values greater than the cut-off of 50g/t silver equivalent. Of particular note are results for NV06-371 and -372, drilled in the northeastern part of the Galena Hill with intercepts of NV06-371: 97.6m of 417 g/t Ag and NV06-372: 93.0m of 392 g/t Ag, these holes represent some of the best drilled at Navidad to date. Hole NV06-379, with an intercept of 48.3m of 270 g/t Ag, in the Connector Zone, is also significant (a map is available on the Company's website). Overall results are consistent with previous results from these zones, confirming Navidad's status as one of the largest undeveloped silver deposits in the world.

With the release of these drill holes, total drilling to date at Navidad now totals 63,491m of diamond drilling in 391 drill holes. A consideration with the start-up drilling campaign was the objective of familiarizing new members of the geologic team with the characteristics of the Navidad series of deposits. Hence drilling was primarily infill and delineation directed within the previously defined resource areas. The newly released holes can be sub-divided into three groups:

Group 1: Galena Hill, 10 diamond drill holes, NV06-366 though NV06-375. The objective was to infill selected areas in the defined resource area where density of information was considered sparse. Relatively modest results in holes NV06-366, -369, and -375 are consistent with previous drilling in the general vicinity of this local grid northing. Impressive results, on the other hand, were obtained in holes NV06-370 through NV06-373 along local grid easting 50,950.

Group 2: Connector Zone, 8 diamond drill holes, NV06-376 to NV06-381, plus NV06-390 and NV06-391. The objective was to infill areas with sparse information in the eastern portion of the Connector Zone resource area. Of particular note is NV06-379, 48.30m @ 270 g/t Ag, which justifies follow-up drilling towards the northeast. Hole NV06-391 suggests a continuation of delineation drilling towards the south.

Group 3: Navidad Hill, 8 diamond drill holes, NV06-382 to NV06-389.

The objective was infill and extension drilling, the latter especially towards the south in the area described as Navidad flank. Best results are from infill hole NV06-386 with 32.1m of 153 g/t Ag.

These results are summarized in the following tables:

I.0 GALENA HILL
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                                                                         Ag
DRILL HOLE  LOCAL  LOCAL     FROM        TO   INTERCEPT  Ag G/T  Pb % EQUIV
             EAST  NORTH  (meters)  (meters)    (meters)
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NV06-366   51,231  9,638     3.00     72.19       69.19      26  0.98    65
 Includes                   58.60     72.19       13.59      40  1.75   110

NVO6-367   51,228  9,876    27.70     73.20       45.50     183  4.11   347
 Includes                   27.70     58.20       30.50     253  5.90   489

NVO6-368   51,226  9,938    31.20     82.72       51.52     138  0.88   173
 Includes                   49.70     58.05        8.35     716  3.39   851

NVO6-369   51,080  9,698     3.00    133.10      130.10      23  0.68    50
 Includes                    4.10     25.10       21.00      51  1.31   103

NV06-370   50,950  9,972    22.30     91.70       69.40     264  0.45   282
 Includes                   31.30     80.45       49.15     347  0.50   367

NV06-371   50,950  9,920    47.20    144.84       97.64     417  1.30   469

NV06-372   50,950  9,870    16.10    109.10       93.00     392  3.18   520
 Includes                   24.70     61.10       36.40     853  5.97  1092

NV06-373   50,952  9,813     7.10    125.90      118.80     112  1.37   167
 Includes                    9.60     53.60       44.00     234  1.51   294

NV06-374   50,901  9,769    26.21     85.10       58.89      50  1.12    95
 Includes                   30.40     36.00        5.60     249  4.91   446

NV06-375   50,898  9,716    40.00     55.00       15.00      23  0.43    40



II.0 CONNECTOR ZONE
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                                                                         Ag
DRILL HOLE  LOCAL  LOCAL     FROM        TO   INTERCEPT  Ag G/T  Pb % EQUIV
             EAST  NORTH  (meters)  (meters)    (meters)
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NV06-376   50,348 10,056    61.10     91.10       30.00     104  0.55   126

NV06-377   50,354 10,010    71.30     74.30        3.00      90  1.04   132
                            94.40     96.80        2.40     117  0.28   128

NV06-378   50,303  9,973    38.03     42.10        4.07      92  1.13   138
                            66.95     74.15        7.20     182  0.72   210
                            79.60     89.60       10.00     186  0.06   189

NV06-379   50,250 10,005    15.80     64.10       48.30     270  0.88   306

NV06-380   50,250  9,841    60.80     75.10       14.30      36  0.37    51

NV06-381   50,200  9,905    29.55     40.86       11.31     179  0.43   196

NV06-390   50,295  9,921    77.58     95.46       17.88      45  0.76    75

NV06-391   50,350  9,967   104.36    117.90       13.54      67  0.67    94



III.0 NAVIDAD HILL
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                                                                         Ag
DRILL HOLE  LOCAL  LOCAL     FROM        TO   INTERCEPT  Ag G/T  Pb % EQUIV
             EAST  NORTH  (meters)  (meters)    (meters)
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NV06-382   49,889  9,725    25.00     31.55        6.35      65  0.09    69
                            51.80     63.30       11.50      99  1.13   145
                            73.18     81.80        8.62      39  1.73   109

NV06-383   49,827  9,708    45.80     60.80       15.00      16  0.44    34

NV06-384   49,889  9,840     1.50     22.20       20.70      80  0.47    98

NV06-385   49,640  9,813    54.80     65.00       10.20      63  1.45   121
                            73.92     79.80        5.88     145  0.49   165

NV06-386   49,641  9,857    36.70     68.80       32.10     153  0.22   161

NV06-387   49,640  9,899    30.50     39.25        8.75     105  0.73   135

NV06-388   49,600  9,798     48.9     54.90        6.00      15  1.03    56

NV06-389   49,574  9,909    53.50     60.26        6.76      50  0.67    77


Notes:
  1. True thickness has not been calculated for these holes.
  2. All length weighted averages (LWA) are "uncut", i.e., have no
     grade capping.
  3. Silver equivalent is calculated using US$6.00/oz silver and $0.35/lb
     lead. (AgEq equals Ag + (%Pb x 10,000/250). No attempt has been made
     to adjust these relative values by accounting for metallurgical
     recoveries, as insufficient information is available to do so.
  4. A map showing the locations of all of these results will be available
     on the Company's website and is attached as a link in this release.

Resumption of drilling in January has been focused on more exploration-directed targets along Barite Hill, the southern end of the Argenta trend, and selected geophysical targets outboard from the main resource areas where the rig is involved at present. During the next several months the drilling is planned to rotate in this fashion between selected targets within the main resource zones, the Argenta trend, and specific geophysical or geochemical targets which occur proximal to these two main areas.

Aquiline recently took over operatorship at Navidad and is managing the project pursuant to an interim project development agreement with IMA Exploration Inc., pending an appeal court hearing in British Columbia challenging the Company's legal victory last July which awarded ownership of Navidad to Aquiline (see Company news releases dated July 17, 2006 and October 19, 2006). Drilling at Navidad under Aquiline management commenced on November 22, 2006 and is proceeding at a fast pace with 45 holes already completed.

Aquiline has continued with the quality control program implemented by the previous operator and considers it to be of "best practice" caliber for a systematic sampling program using diamond drill core. All assay work for the released results was carried out by Alex Stewart Laboratories in Mendoza, Argentina. Under the guidelines of the 43-101 National Instrument, the Qualified Person for the Navidad Project is Mr. John J. Chulick who is a registered geologist in the State of California.

FORWARD-LOOKING STATEMENTS

This press release includes certain "forward-looking statements". All statements, expressed or implied, regarding mineralization contained on the Navidad Project and Aquiline's ultimate success in the litigation with IMA Exploration Inc. are forward-looking statements that involve various risks and uncertainties, as disclosed under the heading "Risk Factors" and elsewhere in Aquiline documents filed from time to time with applicable regulatory authorities. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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