Eaglecrest Explorations Ltd.

Eaglecrest Explorations Ltd.

January 16, 2007 15:02 ET

Eaglecrest Discovers New High-Grade Gold Shoots

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 16, 2007) - Eaglecrest Explorations Ltd. ("Eaglecrest"; the "Company") (TSX VENTURE:EEL)(FWB:EAT) is pleased to announce that its exploration team has encountered high-grade gold in a newly discovered type of gold mineralization on the Company's San Simon property.

"Through our drilling and underground drifts in the Main Quartz Vein-the MQV-we have found high-grade gold shoots on the San Simon property," reports newly appointed Eaglecrest President, Hans Rasmussen. "These gold shoots have the potential to be thicker and have higher gold grades than the MQV because gold mineralization spreads out of the MQV into both the hanging wall and footwall."

Rasmussen added, "As an example of our first shoot, we announced on December 4, 2006 that we bulk sampled 5.6 grams/tonne of fully diluted gold over 33.5 meters (in the L463E drift). While we're pleased with those results, our underground exploration team is still 40 meters from reaching the target of this drift-Drill Hole #26-which returned 8.6 grams/tonne gold over 4.2 meters true width. So we're getting high gold grades from underground bulk samples while drifting towards even higher-grade gold in drill holes."

Rasmussen concluded by stating, "The gold vein system of the San Simon plateau appears to have a series of high-grade gold shoots, similar to the gold mines in Ghana-like Bogoso or Ashanti-where more than 32 million ounces of gold have been developed from multiple ore shoots. Based on the geometry of the mineralization, we are treating the new targets like the gold deposits in Ghana, where a single large feeder structure-the MQV at San Simon-forms a conduit along which high-grade gold shoots form at fault intersections or structural deflections."

Eaglecrest Explorations Ltd. is an advanced exploration company focused on high-potential gold mineralized regions in Bolivia. Once a discovery is made, Eaglecrest adds value to its projects through methodical exploration and development programs incorporating the knowledge and expertise of top industry professionals.

On behalf of the Board of Directors,

Hans Rasmussen, President, Eaglecrest Explorations Ltd.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

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