Eagle Hill Exploration Corporation
TSX VENTURE : EAG

Eagle Hill Exploration Corporation

May 14, 2013 10:29 ET

Eagle Hill's 2013 Drilling Hits High Grade Gold With 288.5 g/t Gold Over 12.4 Meters

(uncut and including 4,180 g/t Au over 0.8 meters)

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 14, 2013) - Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") (TSX VENTURE:EAG) is pleased to announce high grade gold results from its winter 2013 drill program at the Windfall Lake Gold Deposit in Northwestern Quebec. The new results include 288.5 g/t Au over 12.4 meters and 22.1 g/t Au over 5.5 meters both located in the Main Zone.

The Company recently received all the assay results of a 10 drill hole, 3,966 meter drilling program completed at the beginning of March 2013. Drilling focussed on the Main Zone and confirmed the extension of several other known gold zones.

Drill hole EAG-12-466 intersected 288.5 g/t Au over 12.4 meters in a sub-vertical shear zone located immediately to the northwest of Zone 27 (14.48 g/t over 12.4 m when cut to 100 g/t). The shear zone differs from the typical pyrite stockwork of Zone 27 and the other lenses of the Main Zone. This shear zone contains quartz veining with 3-10% pyrite and abundant specks of visible gold. This intercept also correlates with 13.22 g/t over 19.0 meters in drill hole EAG-11-259 (published on March 8th, 2011) located 50 meters above and with 4.3 g/t Au over 4.0 meters in drillhole EAG-11-269 (published on July 5th, 2011) located some 35 meters below on the same section.

As part of the same 2013 drill program, Eagle Hill continued to expand the size of Zone 27 to the southwest. Drill hole EAG-13-461 was successful at intersecting 22.1 g/t Au over 5.5 meters in the up-plunge extension of the high grade portion of Zone 27. This intercept extends the zone for another 42 meters to the southwest where it remains open for further expansion. The new intersection is illustrated on the longitudinal section of Zone 27 available at www.eaglehillexploration.com/sections.

Additional drilling in the eastern extension of the deposit returned an intercept of 5.4 g/t Au over 43.7 meters in drill hole EAG-12-468. This drill hole intersected the un-named zone located 45 meters northwest of the Caribou Zone and expands this zone by an additional 25 meters to the west. This zone appears to end some 75 meters to the southwest of the intercept but remains open down-plunge to the northeast.

"These high grade results show the overall strength of the mineralization at the Windfall Lake gold deposit. Dr. Jean-Philippe Desrochers and his team have refined the geological model and are now in the process of expanding and upgrading our current mineral resource with the intention of proving out what will be a high grade gold reserve," stated Brad Kitchen, President and Chief Executive Officer of Eagle Hill Exploration.

The Windfall Main gold zone defined to date covers a lateral extension of more than 750 meters and include, from South to North, the Caribou South zone, the Caribou zone, the Mink zone, Zone 27 South, Zone 27, the Mallard zone, and the Mallard North zone. All the zones are contained within near vertical corridors and vary in thickness between 2 meters and 35 meters.

Eagle Hill has completed a total of 106 drill holes since the last mineral resource estimate (released on July 25, 2012) that contains an indicated resource of 1,665 million tonnes at 10.05 g/t gold (for 538,000 ounces) and an inferred resource of 2,906 million tonnes at 8.76 g/t gold (for 822,000 ounces). The results of this drilling will be incorporated in a new mineral resource estimate.

A map of the Windfall Lake property outlining the location of the gold zones, drill holes and areas of potential expansion, together with cross-sections, a longitudinal section and pictures of core showing the mineralization style have been posted on Eagle Hill's website, www.eaglehillexploration.com/sections.

The table shows the most significant assay results discussed in this press release.

Drill Hole From To Au Length Comment
(m) (m) (g/t) (m)
EAG-13-461
(Section 2200)
260.5 266.0 22.1 5.5 Zone 27 at 235 m below surface, 10-30 % Pyrite in a porphyry dyke
incl. 261.4 262.2 38.1 0.8
incl. 263.9 264.8 74.2 0.9
EAG-13-463
(Section 2425)
65.0 66.0 6.9 1.0 Isolated intercept near Zone 27 upper extension
92.9 93.5 8.4 0.6 Isolated intercept near Zone 27 upper extension
EAG-13-464
(Section 2815)
439.0 440.2 9.7 1.2 Mink Zone
446.0 446.3 11.8 0.3 Mink Zone, separated from interval above by late dyke
EAG-13-465 Hole abandoned at 84 m due to excessive deviation
EAG-13-466
(Section 2585)
332.2 333.6 11.8 1.4 Isolated intercept in footwall of porphyry dyke
490.8 503.2 288.5 12.4 Shear zone with quartz veining located 7 meters to the northwest of Zone 27. 3-10% Pyrite and abundant visible gold
incl. 491.4 491.9 368.0 0.5
incl. 492.5 493.3 4180.0 0.8
540.9 541.4 36.9 0.5 Small shear zone with visible gold in quartz vein
EAG-13-468
(Section 2675)
23.7 24.4 8.5 0.7 Isolated intercept within a porphyry dyke
242.0 285.7 5.4 43.7 Caribou Zone. 10-30% Pyrite
incl. 242.0 256.0 8.48 14.0
incl. 251.6 252.9 54.34 1.3
incl. 263.5 265,4 8.74 1.9
incl. 276.6 277.5 76.40 0.9
EAG-13-469
(Section 2450)
55.7 57.2 9.4 1.5 Shear zone
137.0 143.0 7.6 6.0 Shear zone
incl. 137.0 138.0 35.4 1.0
405.5 412 4.21 6.5 Zone between Caribou and Caribou South zones. Correlates with intercept at 419.7 m in drill hole EAG-12-320 released on March 1st, 2012
incl. 407.0 407.8 14.25 0.8
The true widths are interpreted to be approximately 70 percent of reported width.

Gold analyses reported in this release were performed by standard fire assay using a 30-gram charge with atomic absorption finish and a gravimetric finish for assays greater than 10 grams per tonne and by metallic sieve method for samples containing significant amounts of pyrite or visible gold. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, Que. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program includes duplicate samples, blanks and analytical standards.

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 grassroots exploration work. Along with its independently acquired claims at the Windfall Lake Property, Eagle Hill has also signed options with Murgor Resources Inc., Cliffs Natural Resources Inc. (formerly, Freewest Resources Canada Inc.), and Noront Resources Ltd. to acquire the Windfall Lake Property. During July 2012, the Company received its second mineral resource estimate, the results of which are displayed in the table below:

Quantity
('000 tonnes)
Gold Grade
(g/t)
Contained Gold
(ounces)
Indicated 1,665 10.05 538,000
Inferred 2,906 8.76 822,000

Jean-Philippe Desrochers, PhD, PGeo, is a qualified person registered in Quebec as defined by NI-43-101 and has reviewed the technical information that this press release contains.

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 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 contain 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

FORWARD LOOKING STATEMENTS

Statements in this news release, which are not purely historical, are forward-looking statements within the meaning of applicable United States and Canadian securities laws, including any statements regarding beliefs, plans, expectations or intentions regarding the future. These statements involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Such risks and uncertainties may include, but are not limited to, the ability to obtain additional financing, title to mineral properties, the ability to manage growth, acquisitions of technology, equipment or human resources, the effect of economic and business conditions, the ability to attract and retain skilled personnel, the risks inherent in exploration and factors outside the control of the Company. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's most recent Annual Information Form filed on SEDAR which is available at www.sedar.com. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

Neither the 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.

Contact Information