Eagle Hill Exploration Corporation
TSX VENTURE : EAG

Eagle Hill Exploration Corporation

April 12, 2011 12:34 ET

Eagle Hill Arranges $3,000,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 12, 2011) - Eagle Hill Exploration Corporation (TSX VENTURE:EAG) ("Eagle Hill" or the "Company") has arranged a private placement with IBK Capital Corp. of Toronto acting as lead agent and VSA Capital Limited of London, England as selling group member, (collectively the "Agents"). The Agents have agreed to act on behalf of Eagle Hill in connection with a proposed best-efforts private placement offering (the "Offering") of up to 12,000,000 common shares at a price of $.25 per common share, with an over allotment of 4,000,000 shares.

The Company will pay the Agents a cash fee equal to 9% of the gross proceeds raised in connection with the Arrangement. In addition, the Agents will receive warrants equal to 10% of the shares issued in the form of agent's warrants, exercisable for four years (the "Agent's Warrants"). Each Agent's Warrant allows the holder to acquire one common share of Eagle Hill for a purchase price of CAD $0.25 per share.

Proceeds of the offering will be used for further exploration and development of the Windfall Lake Property and for general working capital.

The Offering is subject to certain conditions, including but not limited to the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

About the Windfall Lake Property

The Windfall Lake Property is comprised of 362 contiguous claims (over 12,000 hectares) in the Abitibi mineralized belt of northern Quebec. This area between Val-d'Or and Chibougamau is known for its gold and copper production and excellent infrastructure for exploration and mining. Historically, the Windfall Lake Property has had extensive historic grassroots exploration work. Along with its independently acquired claims at the Windfall Lake Property. Eagle Hill has signed options with Murgor Resources Inc., Cliffs Natural Resources Inc. (formerly, Freewest Resources Canada Inc.), and Noront Resources Inc. to acquire the Windfall Lake Property.

About Eagle Hill Exploration Corporation

Eagle Hill Exploration Corporation is a Canadian mineral exploration company focused on the exploration and development of gold and precious metal prospects. The Company is set to become an advanced stage gold and precious metal exploration company with its acquisition of the Windfall Lake high grade gold project, located in Urban Township, Quebec, between Val-D'Or and Chibougamau. Eagle Hill seeks projects that contain or have potential to have large resource potential. The Company's website at www.eaglehillexploration.com and public filings at www.sedar.com provide additional information on its properties and other information with respect to its management and operations.

ON BEHALF OF THE BOARD,

P. Bradley Kitchen, President

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

Contact Information