Eaglecrest Explorations Ltd.

Eaglecrest Explorations Ltd.

November 24, 2006 17:12 ET

Eaglecrest Explorations Ltd.: High Grade Gold Mineralization Extended in Underground Development

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 24, 2006) - Eaglecrest Explorations Ltd. ("Eaglecrest") (TSX VENTURE:EEL)(FWB:EAT) is pleased to report that its underground development and bulk sampling program has extended the zone of known high grade gold mineralization in the L484-W drift in the Trinidad area of the Doña Amelia zone. Bulk sampling of two raises returned fully diluted weighted average gold grades of 6.1 grams per tonne gold over 15.9 metres and 7.2 grams per tonne gold over 6.7 metres.

Results from underground bulk sampling.

Diluted Average Average
Gold Plant Tailings
Underground Bulk Grade Recovery Gold
Bulk Length Sample (grams/tonne) of Gold Grade
Sample # (m) (tonnes) (i) (percent) (grams/tonne)

L484-W76-83 12.3 204.5 2.8 86.1 0.4
Including 6.3 96.7 3.5 89.8 0.3

R138 1 - 35 53.2 811.9 2.0 78.9 0.4

W-R96B 1 - 14 19.2 270.4 4.2 87.5 0.5
Including 6.7 91.1 7.2 90.2 0.7

D135 1 - 8 9.6 125.2 2.2 84.5 0.4

D195 2 - 4 3.1 40.0 3.4 83.8 0.5

LR-R96A 1 - 16 24.3 380.0 5.0 87.4 0.6
Including 15.9 273.7 6.1 88.4 0.7
(i) 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; (W) is West Drift;
(LR) is Left Rib Drift.

"I believe these results have provided a more accurate gold grade average than had been produced in prior diamond drill testing. Bulk sampling has also helped to confirm the continuity of gold mineralization in the footwall sediments beneath the main structure/quartz vein (MQV)," comments Eaglecrest's Chief Operating Officer Hans Rasmussen. "Footwall mineralization could add substantial volume to the upcoming resource calculation and increase the economic viability of the project. The success of bulk sampling to date at the Dona Amelia zone has left project management with continued confidence in its efforts."

The underground bulk sampling program is designed to test part 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. Since Eaglecrest's September 5, 2006 news release three raises and two declines from the L484-W and L484-LR drifts (at 484 metres elevation to the west from the TD-1 decline) have been completed. A map of the underground development on the 484 elevation is located at http://www.eaglecrestexplorations.com/pdf/Underground11222006.pdf.

Footwall Gold Mineralization

1. Footwall (FW) mineralization was described in the September 5, 2006 news release and lies just beneath the MQV mineralization.

2. At the collar of W-R138 raise a pure footwall litharenite sediment bulk sample returned 2.0 grams/tonne gold over width of 2.0 metres.

3. The recent development has extended the FW gold mineralization along the L484-W to 39.9 metres, up to 20 metres up dip in raises LR-R96A, W-R96B and W-R138, and 5.6 metres down dip in the W-D135 decline.

4. Due to FW gold mineralization, which returned up to 14.0 grams/tonne gold in panel samples (10 kilogram sample) in W-R96B, the calculation of undiluted gold grade for the MQV is not possible because the whole advance is mineralized.

The development of the L484-W drifts, raises and declines are continuing concurrently with L463-E drift (463 metres elevation) to the east from the TD-1 access decline. The L463-E drift has reached a length of 72.5 metres in an attempt to intersect up to 10 diamond drill holes including drill hole TRD03-26, which returned 8.6 grams/tonne gold from MQV mineralization over 4.2 metres true thickness.

About Eaglecrest Explorations Ltd.

The Dona Amelia zone covers an area of 40 square kilometres within the Company's approximately 300 square km 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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