FORTESCUE METALS GROUP LIMITED

Aquila Resources Limited announce that API Management Pty Ltd which is the manager of Aquila’s 50% owned West Pilbara Iron Ore Project, Western Australia, has signed a Cooperation Agreement with Fortescue to investigate the potential for shared development of port facilities at Anketell Point. The parties to the Cooperation Agreement will exchange information to enable each party to assess the potential benefits of reduced capital and operating costs from the cooperative development of port facilities that can be used not only by API and Fortescue, but other developers of iron ore resources in the West and Central Pilbara, currently unable to develop their projects due to a lack of suitable port infrastructure.