Aguila Completes $500,000 Private Placement Financing

AGUILA AMERICAN RESOURCES LTD.

#1305 - 1090 WEST GEORGIA STREET VANCOUVER, B.C. V6E 3V7 Tel: (604) 685 9316 Fax (604) 683 1585 TSX Venture Symbol: AGL

NEWS RELEASE DECEMBER 7, 2010

AGUILA COMPLETES $500,000 PRIVATE PLACEMENT FINANCING

Vancouver, BC, Canada - Aguila American Resources Ltd. (the "Company") (TSXV: AGL) is pleased to announce that it has completed its financing announced on November 5, 2010, as amended November 19, 2010, by issuing 2,500,000 units (“Units”), at a price of $0.20 per Unit, for total gross proceeds of $500,000. Each unit comprised one common share and one-half of a share purchase warrant. Each full warrant is exercisable into one additional common share for a period of two years from the date of closing of the financing at an exercise price of $0.40.

Finder's fees of $32,625 cash and 163,125 warrants were paid on a portion of this financing. The finder's warrants have the same terms as the private placement warrants.

All of the securities issued above are subject to a hold period expiring four months from date of issuance. The proceeds from the financing will be used to fund exploration work on the Company’s mineral properties and for general working capital.

ON BEHALF OF THE BOARD

"John Huguet"

John Huguet, President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.