Eaglecrest Explorations Ltd.
TSX VENTURE : EEL
FRANKFURT : EAT

Eaglecrest Explorations Ltd.

August 18, 2008 09:27 ET

Eaglecrest Completes Two Gold Concentrate Shipments From San Simon Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2008) - Eaglecrest Explorations Ltd. (TSX VENTURE:EEL)(FRANKFURT:EAT) today announced it has completed two gold concentrate shipments from its San Simon project in Bolivia, including bulk sample grades that averaged 4.7 to 6.3 grams per tonne gold in the L463 gold shoot.

The gold shipments, Eaglecrest's eighth and ninth respectively, were received by the Met-Mex Penoles S.A. de CV smelter in Torreon, Mexico and were produced at Eaglecrest's onsite bulk sampling mill at San Simon.

The eighth shipment was 1.51 tonnes of concentrate containing 227 ounces of gold at a grade of 150 ounces per tonne. This concentrate represents the milling of 1,709 tonnes of rock averaging 4.7 grams of gold per tonne, including 288 tonnes, extracted from trial mining stopes that averaged 6.3 grams per tonne. Based on the average mill feed grade, the overall recovery in this concentrate was 87.4%.

The ninth gold concentrate shipment was 1.65 tonnes containing approximately 214 ounces of gold at a grade of 144 ounces per tonne. In addition to some mill clean-up material, this concentrate represents the milling of 1,350 tonnes of rock averaging 4.8 grams of gold per tonne, including 780 tonnes from trial mining stopes that averaged 5.7 grams per tonne. Based on the mill feed grades of the individual bulk samples, the overall recovery in this concentrate was 93.5%.

"This gold concentrate shipment was produced from material extracted from the lower portions of our bulk sampling program in the L463 gold shoot-the majority of which was recovered from the final stages of our underground bulk-sampling program," said Hans Rasmussen, President and COO. "Most impressive are the bulk sample gold grades that were 5.7 to 6.3 grams per tonne produced during our trial stoping program, which appear to be in line with the average gold grade we are seeing in our geologic modeling of the lower L463 gold shoot." Mr. Rasmussen added, "We gained useful geological information from the underground bulk-sampling program and are pleased that recoveries using conventional flotation have averaged around 90%. We will use the revenue from the sale of these concentrates to offset some of our exploration costs going forward."

The agreement with Penoles provides for Eaglecrest to receive 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's net receipts are approximately 84% of the gold value in the concentrate.

The technical information in this News Release has been reviewed and approved by Dr. Odin Christensen, a technical consultant and Eaglecrest board member, who is a Qualified Person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

The bulk sampling 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.

About Eaglecrest

Eaglecrest Explorations Ltd. is conducting an advanced exploration project on its San Simon gold property in Bolivia. Eaglecrest controls mineral rights that cover nearly 300 square kilometres on the San Simon Plateau, situated on the Precambrian shield in northeast Bolivia. Eaglecrest's mandate is to increase shareholder value by employing strong technical expertise, both at the Board level and on the ground, to systematically explore and develop San Simon. Additional information is available at www.sedar.com and at the Company's website, www.eaglecrestexplorations.com.

On behalf of the Board of Directors,

Hans Rasmussen, President, Eaglecrest Exploration Ltd.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: This news 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 news 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.

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