Eagle Hill Exploration Reports More Positive Drill Results, Initiates A PEA Study

Eagle Hill Exploration Corporation (TSXV: EAG) on June 24, 2014, announced the results of its 2014 Winter Drill Program at the Windfall Lake Gold Project in Quebec, as well as its drilling plans for the remainder of 2014.

A total of 3,333 metres in 16 drill holes were completed. Results included 18.5 grams per tonne (g/t) gold over 3.38 metres and confirmed the continuity of the gold mineralization of Zone 27, which hosts the majority of Windfall Lake’s Indicated mineral resource. In fact, these results indicate that theupper portion of Zone 27 continues for up to 100 metres.

“The Board is very encouraged with the drill results that we’ve seen to date. The Fall 2013 program increased the mineral resource and demonstrated that we have significant expansion potential at depth and also along strike,” Rhylin Bailie, Eagle Hill’s Vice President of Communications & Investor Relations, told SmallCapPower.com.

“The Winter 2014 drill program confirmed continuity of mineralization within the Main Zone. We know that we’ve got a high-grade gold deposit with expansion potential, located in very accessible, mining-friendly territory in a fantastic jurisdiction,” she added.

Ms. Bailie further explained that the Winter 2014 drill program had the objective of testing for gold mineralization below shallow lakes. The fact that the mineralization in Zone 27 can be traced further laterally is “encouraging,” according to her. 

Eagle Hill's Board of Directors also approved a 2,800-metre drill program targeting the extension of Zone 27 to the northeast below Red Dog, with the intention of deepening six existing drill holes in a target zone that is currently untested.

Geological studies indicate that the gold mineralization hosted by Zone 27 and the Caribou Zone may have been displaced as much as 600 metres below the Red Dog dike. Thus, the potential exists to significantly increase the mineral resource below the Red Dog intrusion.

As well, Eagle Hill reported that it would initiate a Preliminary Economic Assessment (PEA) Study on the project, which involves completing environmental, engineering and economic studies, in order to provide further clarity on the potential of advancing the deposit to production. The PEA follows the company’s updated resource estimate released in March of this year that showed a 38% increase in Windfall Lake’s Indicated mineral resource.  

The Windfall Lake gold deposit is currently estimated to contain 744,000 Indicated gold ounces at 9.75 g/t, in addition to 731,000 Inferred gold ounces at 7.37 g/t.  

Eagle Hill Exploration further increased the appeal of Windfall Lake with the recent purchase of 213 mining claims immediately adjacent to the Project from Murgor Resources and Cliffs Chromite Ontario, giving Eagle Hill 100% ownership of the entire 12,400 hectare property. The company, in a separate transaction, also acquired three 2% Net Smelter Return Royalties (NSRs) on the Project.

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To learn more about Eagle Hill Exploration Corporation, you can view their initiation research report, research bulletins, analyst commentaries and CEO video interview on their SmallCapPower.com Investor Hub: http://www.smallcappower.com/companies/products/eagle-hill-exploration-corp-tsxv-eag-2

About Eagle Hill Exploration:

Eagle Hill Exploration Corporation is a Canadian mineral exploration company focused on the exploration and development of the high-grade Windfall Lake gold deposit, located between Val-d'Or and Chibougamau in Quebec, Canada. The current mineral resource comprises 2,375,000 tonnes at 9.75 g/t gold (744,000 ounces) in the Indicated category and 3,084,000 tonnes at 7.37 g/t gold (731,000 ounces) in the Inferred category (Technical Report for the Windfall Lake Gold Project, Quebec prepared by SRK Consulting (Canada) Inc., dated March 3, 2014). These grades make Windfall Lake one of the highest grade resource-stage gold projects in the world. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit remains open at depth and along strike, with additional drilling and technical work planned for 2014. More information is available at www.eaglehillexploration.com.

Disclosure

Ubika Research has received compensation from Eagle Hill Exploration to provide analyst research coverage.

Except for the historical information presented herein, matters discussed in this document contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements.

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