Aguila American Resources Announces Closing of $5,379,750 Financing Via Short Form Offering Document and Private Placements

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES


Aguila American Resources Ltd. ("Aguila" or the "Company") (TSX VENTURE:AGL) is
pleased to announce that it has closed its financings previously announced on
April 19, 2011 by way of TSX Venture Exchange short form offering document (the
"SFOD Offering"), brokered private placement (the "Brokered Private Placement")
with Canaccord Genuity Corp. ("Canaccord Genuity" or the "Agent") and
non-brokered private placement. The Brokered Private Placement was
over-subscribed and Canaccord exercised its over-allotment option in full. The
Company raised aggregate gross proceeds of $5,379,750 under the financings. 


Pursuant to the SFOD Offering, the Company issued an aggregate of 4,440,000
units (the "Units") at a price of $0.45 per Unit for gross proceeds of
$1,998,000. Each Unit consisted of one common share of the Company and one-half
of one transferable common share purchase warrant (each whole warrant, a
"Warrant"). Each Warrant entitles the holder to subscribe for one additional
common share at a price of $0.65 until May 19, 2013. 


Pursuant to the Brokered Private Placement, and upon exercise of the
over-allotment option granted to Canaccord, the Company issued an aggregate of
3,840,000 Units having the same terms as the SFOD Offering for gross proceeds of
$1,728,000. 


On closing of the SFOD Offering and Brokered Private Placement, the Company paid
to the Agent a cash fee equal to 8% of the gross proceeds raised through the
SFOD Offering and the Brokered Private Placement and issued to the Agent
warrants (the "Agent's Warrants") equal to 8% of the Units issued pursuant to
the SFOD Offering and the Brokered Private Placement. Each Agent's Warrant is
exercisable into one common share at a price of $0.65 per common share until May
19, 2013. The Company also paid to the Agent a corporate finance fee of 125,000
Units (the "Corporate Finance Units"). Each Corporate Finance Unit has the same
terms as the Units sold under the SFOD Offering and the Brokered Private
Placement.


All securities issued in connection with the Brokered Private Placement, 41,200
Units issued pursuant to the SFOD Offering and all securities issued to the
Agent are subject to a hold period in Canada expiring on September 20, 2011.


The Company has also completed a non-brokered private placement (the
"Non-Brokered Private Placement"), which was over-subscribed, and raised gross
proceeds of $1,653,750 by the issuance of up to 3,675,000 Units having the same
terms as the Units issued under the SFOD Offering and Brokered Private
Placement. The Company paid a finder's fee to arm's length parties equal to 8%
of the gross proceeds raised through the Non-Brokered Private Placement and
issued to the finders warrants (the "Finder's Warrants") equal to 8% of the
Units issued pursuant to the Non-Brokered Private Placement. Each Finder's
Warrant is exercisable into one common share at a price of $0.65 per common
share until May 19, 2013. All securities issued in connection with the
Non-Brokered Private Placement are subject to a hold period in Canada expiring
on September 20, 2011.


The funds raised from the issuance of the Units will be used to fund on-going
work programs on the Company's properties and for general working capital
purposes.


The securities being offered have not been, nor will they be registered under
the United States Securities Act of 1933, as amended, or state securities laws
and may not be offered or sold within the United States or to, or for the
account or benefit of, U.S. persons absent U.S. federal and state registration
or an applicable exemption from the U.S. registration requirements. This release
does not constitute an offer for sale of securities in the United States.


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.
Aguila Copper (TSXV:AGL)
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