Eaglecrest Explorations Ltd.

Eaglecrest Explorations Ltd.

May 15, 2006 12:35 ET

Eaglecrest Explorations Ltd.: Diamond Drilling Defines Continuity of Main Structure/Quartz Vein Along Strike and Downdip

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 15, 2006) - Eaglecrest Explorations Ltd. (TSX VENTURE:EEL)(FWB:EAT) is pleased to report results of additional diamond drilling on the main structure/quartz vein (MQV) in the Trinidad and Las Rosas areas of the Company's San Simon project in northeast Bolivia.

Drilling is highlighted by results from section 597,650E in the western part of the Trinidad area, where hole TRD06-177 intersected 2.1 metres (m) of MQV with a weighted average gold grade of 8.0 grams per tonne (g/t) including 0.6 m of 15.0 g/t gold at 325 m downdip, and hole TRD06-175 intersected 10.1 m of MQV with weighted average gold grade of 2.3 g/t including 0.7 m of 9.2 g/t gold at 420 m downdip.

In the Las Rosas area, hole TRD05-165 on section 596,750E was extended 41 m and intersected 1.4 m of MQV with a weighted average gold grade of 6.1 g/t including 0.5 m of 11.6 g/t gold at 150 m downdip. Hole TRD 06-176 on section 596,850E intersected 3.7 m of MQV at 410 m downdip with a weighted average gold grade of 1.2 g/t including 0.5 m of 4.0 g/t gold. A complete list of the holes completed in 2006 is posted on www.sedar.com and on the Company's website, www.eaglecrestexplorations.com, which also includes location maps with selected sections.

The Dona Amelia zone covers an area of 40 square kilometres (km) within the Company's approximately 300 square km San Simon project in northeast Bolivia. During 2006, the Company has completed 5,548.0 metres (m) of diamond drilling in eleven completed holes, and one extension and two holes are in progress. Hole depths range from 150.0 to 633.1 m, tracing the MQV further down dip than previous diamond drilling. Although gold mineralization is found to be erratic and inhomogeneous, diamond drilling has been effective in demonstrating the geological continuity of the MQV. Preliminary results from intersection of one diamond drill hole in the underground bulk sampling program (see news release dated February 27, 2006) suggests that diamond drill core samples could significantly understate the true in-situ gold grade as represented by the calculated feed grades of the bulk samples.

It should be noted that no resource calculations have yet been made for the Dona Amelia zone. To that end the Company has retained SRK Consulting, of Vancouver, B.C. to prepare a NI 43-101 Resource Estimate and Preliminary Assessment of the Trinidad area of the Dona Amelia zone. That report is expected later this year. Diamond drilling is continuing specifically on sections 596,650E and 596,600E to define the limit of higher grade gold mineralization and with the expectation of extending the established 1.4 km strike length of the Trinidad area an additional 0.6 km to the Las Rosas area, to supply additional data for this study.

Advance of the TD-1 decline-adit has been relatively slow during the last 45 days due to difficult ground conditions resulting in the need for additional ground support. However, we have cleared the broken and faulted rock zone, and progress has returned to normal. Currently the TD-1 decline has reached a length of 150 m. Processing of bulk samples from the decline and associated raise in the gold recovery plant has produced concentrates that the Company is negotiating to sell to an international smelter.

A summary of sample preparation, method of gold analysis and the Quality Assurance/Quality Control (QA/QC) is described in detail in the Company's February 27, 2006 news release).

Eaglecrest Explorations Ltd.'s Project Manager, Tor Bruland, who is a Qualified Person as defined by National Instrument 43-101, has prepared, reviewed and approved the technical information in this news release.

The diamond drilling and the underground exploration, development and bulk sampling program are being supervised by Tor Bruland, P. Geo. and Don Allen, P. Eng. (Eaglecrest Explorations Ltd.'s Chief Geologist). The gold recovery plant and the Analab operated laboratory are under the overall supervision of Gary Hawthorn. P. Eng. All are Qualified Persons under the Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects.

On behalf of the Board of Directors,

Carl A. Erickson, President, Eaglecrest Exploration Ltd.

Additional information on the company's project is available on our website www.eaglecrestexplorations.com, the SEDAR website (securities related information electronic filed with the Canadian securities regulatory authorities) www.sedar.com.

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

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