Eaglecrest Explorations Ltd.

Eaglecrest Explorations Ltd.

August 23, 2007 06:00 ET

Eaglecrest Completes Second Highest Grade Gold Concentrate Shipment in Company History

Gold Concentrate is Company's Fifth Shipment from San Simon Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 23, 2007) - Eaglecrest Explorations Ltd. (TSX VENTURE:EEL)(FRANKFURT:EAT) announced today it has completed its second highest grade shipment of gold concentrate in the Company's history. The 1.25 tonne shipment, produced at Eaglecrest's onsite bulk sampling mill at its San Simon project in northeast Bolivia, contained approximately 202 ounces of gold with a gold grade of 161.6 ounces per tonne. The shipment was sent on August 10, 2007 to Penoles smelter (Met-Mex Penoles S.A. de CV) in Mexico. The concentrate was produced from bulk samples taken as part of Eaglecrest's ongoing underground bulk sampling program.

"The continually high gold grades of our concentrate point to the success of our bulk sampling program and indicate that we are sampling a higher-grade portion of the L463 gold shoot," said Hans Rasmussen, President and COO. "Our bulk sampling program will continue during 2007 and the revenue from the sale of these concentrates will be used to offset some exploration costs at San Simon. The bulk sampling program also provides an opportunity for us to study underground mining and grade control techniques."

Based on the agreement with Penoles, Eaglecrest receives from Penoles a payment for approximately 95% of the gold value in the concentrate. The settlement gold value is based on the average London spot gold price per ounce for the month following the arrival of the shipment to the smelter. After shipping costs and royalty payments to the Bolivian government, the company receives approximately 84% of the gold value in the concentrate.

Dr. Odin Christensen, a technical consultant and Eaglecrest board member, is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. He has reviewed and approved the technical information in this news release.

The gold recovery plant and the fire assay laboratory, which is independently operated by Analab, are under the overall supervision of Independent Mineral Processing Consultant Gary Hawthorn, P. Eng. (B.C.) who is a Qualified Person under NI 43-101.

On behalf of the Board of Directors,

Hans Rasmussen, President, Eaglecrest Explorations Ltd.

Additional information on the company's project is available on our website at www.eaglecrestexplorations.com; the SEDAR website (securities related information electronic filed with the Canadian securities regulatory authorities) www.sedar.com; or, by contacting Paul Zdebiak at 604-687-7272; E-mail: info@eaglecrestexplorations.com or by contacting John Vincic at Barnes McInerney at jvincic@barnesmcinerney.com or at 416-367-5000 ext. 249.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: This press release concerns certain "forward-looking statements," including but not limited to, the statements regarding the Company's strategic plan, work programs and exploration budgets at the Company's San Simon Project. The forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with industry risks, risks associated with foreign operations, environmental risks and hazards and other risks.

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

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