Eagle Hill Exploration Corporation

Eagle Hill Exploration Corporation

November 05, 2013 07:00 ET

Eagle Hill's Fall 2013 Drilling Program Discovers Extension to Main Zone at Windfall Lake Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 5, 2013) - Eagle Hill Exploration Corporation (TSX VENTURE:EAG)(OTCQX:EHECF)(FRANKFURT:EH0) ("Eagle Hill" or the "Company") is pleased to announce first results from the Company's fall 2013 drilling program. The Company drilled three sections, stepping out 150, 300 and 500 metres along strike to the southwest of the Main Zone gold mineralization. Each section intersected a number of high-grade gold intervals, confirming the potential to extend the known gold resource in this direction.

The fall 2013 diamond drill program started on September 12 with the objective of completing a 25,000-metre program by year-end, focused on expanding the existing mineral resource. The Company drilled 11 holes (4,821 metres) to test geophysical anomalies southwest of the tested limit of the Main Zone. Drill intercepts have demonstrated the presence of pyritic stockworks similar to the Main Zone, and assay results have confirmed significant gold mineralization in each section. Results received to date are summarized in Table 1.

Highlight intersections include:

Section 1825 (150 metres SW of Main Zone)

EAG-13-472 6.58 g/t gold over 3.5 m from 765.5 m
inc. 13.2 g/t gold over 0.9 m from 767.3 m
4.34 g/t gold over 6.6 m from 1,030.0 m
inc. 9.5 g/t gold over 1.8 m from 1,030.0 m
and 10.4 g/t gold over 0.8 m from 1,035.8 m
EAG-13-478 3.01 g/t gold over 10.2 m from 561.0 m
inc. 9.05 g/t gold over 0.4 m from 561.0 m
and 11.1 g/t gold over 1.0 m from 563.0 m
EAG-13-481 250.0 g/t gold over 0.5 m from 197.5 m

Section 1700 (300 metres SW of Main Zone)

EAG-13-471 8.44 g/t gold over 0.9 m from 240.3 m
EAG-13-479 131.0 g/t gold over 0.6 m from 40.4 m

Section 1500 (500 metres SW of Main Zone)

EAG-13-473 4.66 g/t gold over 0.5 m @ from 214.8 m

"This first round of wide-spaced drilling to the southwest of the Main Zone is very encouraging, with gold mineralization in every section, a number of high-grade gold intervals and some wide mineralized intersections," said Dr. Mike Andrews, Director and Interim President of Eagle Hill. "These results support our hypothesis, based on geophysics of the area and limited previous drilling, that mineralization continues to the southwest of the Main Zone."

The three diamond drill rigs have been relocated to the Main Zone to focus on expanding the strike length of the major resource lenses (the Zone 27, Caribou, Mink and Mallard zones). Zone 27 has more than 700 metres strike length of continuous gold mineralization, with highlight intersections including 23.8 g/t gold over 25.0 metres (hole EAG-12-318), 14.2 g/t gold over 52.0 metres (hole EAG-10-196) and 12.22 g/t gold over 21.0 metres (hole EAG-11-259).1 The Company plans to drill 14 holes around Zone 27 to test lateral extensions of the higher grade and thicker gold shoots, along with limited infill drilling, and also plans to drill a total of 32 holes to test the lateral strike extensions the Caribou, Mink and Mallard zones.

A down-hole induced polarization geophysics program is underway to identify possible depth extensions of gold mineralized lenses below the Main Zone. Previous drilling in this area identified 15.34 g/t gold over 11.0 metres at a depth of 870 metres.1

Eagle Hill will have more than 50,000 metres of new drilling to incorporate into an updated resource estimate in early 2014, with 106 holes totalling 29,208 metres drilled since the 2012 resource estimate and the addition of 25,000 metres from the current program.

To view the figure associated with this press release, please visit the following link: http://media3.marketwire.com/docs/eagl1105.pdf

On Behalf of the Board of Directors

John Proust

Chairman and Interim CEO

About the Windfall Lake Gold Project

The Windfall Lake gold deposit comprises a number of lenses of pyritic stockworks and shears hosted in Archean felsic and intermediate volcanics situated in the Urban-Barry Greenstone Belt, approximately 200 km northeast of Val d'Or, Quebec. SRK Consulting (Canada) Inc. completed a National Instrument 43-101 compliant resource estimate for Eagle Hill in July 2012 based on historical drilling by Eagle Hill and previous operators. The estimated resource comprises 1,665,000 tonnes at 10.05 g/t gold (538,000 ounces) in the indicated category and 2,906,000 tonnes at 8.76 g/t gold (822,000 ounces) in the inferred category. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long.

About Eagle Hill Exploration Corporation

Eagle Hill Exploration Corporation is a Canadian mineral exploration company focused on the exploration and development of the high-grade Windfall Lake Gold Deposit, located between Val-d'Or and Chibougamau in Quebec. Southern Arc Minerals and Dundee Corporation each hold a 26.14% interest in Eagle Hill and recently invested an aggregate of $12 million to consolidate ownership of the property and fund an aggressive exploration program. More information is available at www.eaglehillexploration.com.

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

Qualified Person

The technical information in this document has been reviewed by Eagle Hill's Vice President Exploration, Jean-Philippe Desrochers, PhD, PGeo, who has sufficient experience relevant to the style of mineralization under consideration and qualifies as a Qualified Person as defined by National Instrument 43-101. The drill program and sampling protocol is managed by Eagle Hill under the supervision of Jean-Philippe Desrochers. The diamond drill holes are drilled at NQ sizes and core recovery to date has averaged better than 95.0%. Half core is cut by rock saw and is generally sampled using nominal 1-metre intervals; however, sample intervals vary according to geological contacts and have ranged between 0.3 to 1.5 metres in length. Two quality control samples (one blank and one certified reference material) are inserted into each batch of 20 samples. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, Quebec. The half core samples are securely transported from the project site to the ALS Chemex laboratory by Eagle Hill personnel. 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. In addition, an Aqua regia digestion with ICP-AES finish is used to analyse a full suite of elements including silver and base metals.

Cautionary Note Regarding Forward-looking Statements

This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the words "will", "plans", "objective", "expand", "potential" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This document contains forward-looking statements and assumptions pertaining to the following: uncertainty involving resource estimates and the ability to extract those resources economically, or at all; uncertainty involving drilling programs and the Company's ability to expand and upgrade existing resource estimates; the regulatory process and actions; the need to work with local communities and authorities to advance the properties; the need to work with Dundee and Southern Arc to advance the property; technical issues; new legislation; competitive factors and conditions; uncertainties resulting from potential delays or changes in plans; the occurrence of unexpected events; and the Company's ability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors, including uncertainty related to drill results and the inclusion of drill results in future resource estimates for the property. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.

Table 1 - Windfall Lake Gold Deposit Fall 2013 Drill Program - Southwest Stepout Drilling - Summary Results

Drill Hole Sec-tion Total Depth
Coordinates Azi-muth Dip From
East North
EAG-13-472 1825 1119.0 451938 5434102 330.0 -48.0 549 550.1 1.1 1.79
724 725 1.0 1.23
765.4 768.9 3.5 6.58
including 765.4 765.8 0.4 10.6
and 767.3 768.2 0.9 13.2
787.7 788.6 0.9 4.26
799.8 803.3 3.5 7.45
including 799.8 800.5 0.7 11.4
and 801.7 802.9 1.2 14.7
1030.0 1036.6 6.6 4.34
including 1030.0 1031.8 9.5 1.8
and 1035.8 1036.6 10.4 0.8
EAG-13-478 1825 686.0 451821 5434321 328.6 -46.5 519 519.4 0.4 1.71
561 571.2 10.2 3.01
including 561 561.4 0.4 9.05
and 563 564 1.0 11.1
and 570.8 571.2 0.4 8.17
EAG-13-481 1825 401.0 451619 5434736 330.0 -45.0 197.5 198 0.5 250.0
EAG-13-487 1825 141.0 451778 5434404 330.0 -55.0 No Significant Intersections
EAG-13-471 1700 306.0 451718 5434206 330.0 -45.0 158.4 158.7 0.3 1.88
198.0 199.0 1.0 2.30
238.0 244.0 6.0 2.18
including 240.3 241.2 0.9 8.44
EAG-13-474 1700 324.0 451641 5434343 329.3 -45.5 21.7 24.0 2.3 1.91
287.0 290.0 3.0 3.18
including 287.0 287.6 0.6 8.35
EAG-13-476 1700 378.0 451558 5434489 330.0 -45.0 195.3 195.8 0.5 7.72
EAG-13-479 1700 396.0 451517 5434561 330.0 -45.0 40.0 43.0 3.0 26.9
including 40.4 41.0 0.6 131.0
115.4 115.9 0.5 10.7
EAG-13-470 1500 414.0 451543 5434092 330.0 -45.0 349.4 349.9 0.5 1.32
EAG-13-473 1500 357.0 451417 5434330 330.0 -45.0 174.0 175.6 1.6 1.11
214.8 215.3 0.5 4.66
296.6 297.7 1.1 2.18
EAG-13-475 1500 299.0 451358 5434438 330.0 -45.0 56.0 57.0 1.0 1.49
231.0 234.0 3.0 1.61

1 All drill results have been previously disseminated by press release and are available on SEDAR and on Eagle Hill's website.

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