Eaglecrest Explorations Ltd.

Eaglecrest Explorations Ltd.

December 04, 2006 18:58 ET

Eaglecrest Explorations Ltd.: High Grade Gold Mineralization Encountered in the East Drift of Underground Development

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 4, 2006) - Eaglecrest Explorations Ltd. ("Eaglecrest") (TSX VENTURE:EEL)(FWB:EAT) is pleased to report that it has encountered high grade gold mineralization in the L463-E drift in the Trinidad area of the Dona Amelia zone. These new results are part of Eaglecrest's continuing program of underground development and bulk sampling at the San Simon project, Bolivia.

Bulk sampling of the L463-E drift (the "east drift") along strike of the main structure/quartz vein (MQV) returned gold grades(i) of 5.6 grams per tonne gold over 33.5 metres, with a MQV width of 1.0 metre to more than 3.0 metres. Bulk sampling of a decline in the east drift returned gold grades(i) of 6.7 grams/tonne gold over 8.9 metres. The first bulk sample from the newly started raise in the east drift returned 9.6 grams/tonne gold over 1.8 metres.

Footwall gold mineralization has been encountered along the 33.5 metres of the east drift with panel samples(ii) returning gold grades up to 15 grams/tonne gold. This gold mineralization is similar to footwall mineralization in the L484-W drift described in Eaglecrest's news releases on September 5, 2006 and November 24, 2006.

"The bulk sampling results from the east drift of the Trinidad area are very promising. Individual bulk samples returning more than 10 grams/tonne gold are suggesting that higher grade gold zones could exist within the Dona Amelia zone," comments Eaglecrest's Chief Operating Officer Hans Rasmussen. "Footwall and Hanging Wall mineralization appears more consistent than previously interpreted from diamond drill holes. Most importantly, these mineralization types could add significant tonnage and contained gold to the upcoming resource calculation, as well as reduce dilution and mining costs."

Results from underground bulk sampling.

Average Average
Average Plant Tailings
Underground Bulk Gold Grade Recovery Gold Grade
Bulk Length Sample (grams/ of Gold (grams/
Sample # (metres) (tonnes) tonne)(iii) (percent) tonne)

L463 - E 46 - 67 33.5 499.4 5.6 89.2 0.6
Including 23.4 352.4 6.4 89.4 0.7
Including 1.4 22.3 11.4 93.2 0.8

D206 1 - 8 8.9 90.1 6.7 90.5 0.6

R64 1 1.8 24.0 9.6 92.4 0.7

(i) fully diluted weighted average
(ii) 10 kilograms samples taken from each underground advance
(iii) The Average Fully Diluted Gold Grade is milled tonnage weighted
average of the back calculated flotation circuit grade. Diluted
includes both main quartz vein and wall-rock material whereas
undiluted is selectively sampled quartz vein material.(D) Represents
decline; ® is Raise; (E) is East Drift.

Geological details:

Distribution of gold in the MQV appears to be erratic and inhomogeneous with panel samples(ii) ranging from less than 0.3 up to 120 grams/tonne gold. This gold distribution in the MQV suggests that erratic Hanging Wall mineralization, which returned panel samples(ii) up to 3.2 grams/tonne gold, could have a similar continuity as the Footwall mineralization. The Footwall mineralization in the east drift has so far been traced 33.5 metres along the strike of the MQV as well as 8.9 metres down dip and 1.8 metres up dip.

(ii) 10 kilograms samples taken from each underground advance

The east drift is being developed along strike of the MQV to intersect up to 10 diamond drill holes. Decline D206 was developed toward diamond drill hole TRD06-206 while raise R64 is being developed towards diamond drill hole TRD04-064. Additional declines and raises are planned as the east drift is extended to the east towards diamond drill hole TRD03-26, which returned 8.6 grams/tonne gold from MQV mineralization over 4.2 metres true thickness.

The underground bulk sampling program is designed to test the drill intersected portions of the MQV as part of Eaglecrest's attempt to achieve an accurate in-situ average gold grade and resource estimate for the Dona Amelia zone. The development of raises and declines of the east drift is continuing as well as extending the drift which now has a length of 104.5 metres to the east. A map of the underground development on the east drift elevation is located at http://www.eaglecrestexplorations.com/pdf/Underground12042006.pdf.

About Eaglecrest Explorations Ltd.

The San Simon project is located 450 kilometres north of Santa Cruz, Bolivia and 20 kilometres from the border between Bolivia and Brazil. The Dona Amelia zone covers an area of 40 square kilometres within the Company's approximately 300 square kilometres San Simon project in northeast Bolivia.

Eaglecrest's Project Manager, Tor Bruland, P. Geo. (B.C.), reviewed and approved the technical information in this news release. The diamond drilling and the underground exploration, development and bulk sampling program are being supervised by Tor Bruland and Don Allen, P. Eng. (B.C.), who is Eaglecrest's Chief Geologist. Both are Qualified Persons under the Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects.

A summary of sample preparation, method of gold analysis and the Quality Assurance/Quality Control (QA/QC) is described in detail in the Company's February 27, 2006 news release. The gold recovery plant and the independently operated (Analab S.R.L. of Peru) fire assay laboratory are under the supervision of Independent Consultant Gary Hawthorn. P. Eng. (B.C.), who is a Qualified Person under the Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects.

On behalf of the Board of Directors,

Carl A. Erickson, President

Eaglecrest Exploration Ltd.

Additional information on the company's project is available on our website 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: eel.tsxv@telus.net, or Hans Rasmussen at 801-554-2074, E-Mail: rasmussenh@aol.com.

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

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