Aquila Resources Limited refers to its announcement of August 17th 2011 in which it advised that Red Hill Iron Limited had instituted legal proceedings against API Management Pty Ltd, a company in which Aquila holds a 50% venture interest.

The proceedings instituted in the Supreme Court of Western Australia were in relation to a dispute regarding the assessment, potential development and ownership of port and rail infrastructure for the Red Hill Iron Joint Venture. The trial of the dispute concluded on July 30th 2012.

The Supreme Court of Western Australia delivered its judgment today in which it dismissed Red Hill's claims. In essence, the Court has dismissed Red Hill's claim to be entitled to the opportunity to develop and own a share of the port and rail infrastructure that will service the West Pilbara Iron Ore Project. Red Hill will now be liable to pay API's costs.

Whilst Aquila welcomes the judgment, it is disappointing that time and money has been expended in hearing this matter given that Aquila has always maintained that Red Hill's claims were without foundation.

Source - Aquila Resources

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