Eaglecrest Explorations Ltd.

Eaglecrest Explorations Ltd.

June 11, 2010 11:43 ET

Eaglecrest Updates on Bolivia and Colombia Projects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 11, 2010) - Eaglecrest Explorations Ltd. (TSX VENTURE:EEL)(FRANKFURT:EAT), ("Eaglecrest"; the "Company") announced on May 12, 2010 that it had completed the first tranche of its proposed CDN$6,000,000 private placement announced March 16, 2010, raising gross proceeds of CDN$2,269,478. Eaglecrest noted in its May 12, 2010 news release that it would be continuing to market the remaining units. To facilitate the continued marketing of the offering, Eaglecrest has made an application to the Exchange for an extension of the time within which to make its final filing in respect of the Offering, to June 30, 2010. The terms of the Offering are unchanged and completion of the offering remains subject to TSX Venture Exchange acceptance. All securities issued pursuant to the Offering will be subject to a four-month period from the closing date.

About Eaglecrest

Eaglecrest Explorations Ltd.'s mandate is to increase shareholder value by employing deep expertise both at the Board level and on the ground to systematically explore, develop and monetize promising gold projects in Colombia and Bolivia. 

The management and geologic teams at Eaglecrest comprise industry experts who have experience with gold discoveries while working during the past two to three decades for both junior and major mining companies. With this team and the improving sentiment towards gold, Eaglecrest hopes to accelerate the evaluation and capitalization of its Bolivian assets, as well as secure interests in, and initiate its anticipated exploration programs at and around, the Fredonia project, Colombia, located south of Medellin. The Fredonia project and Eaglecrest's letter of intent respecting it are described in a news release issued on December 8, 2009. 

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

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