Feb 28, 2011 13:30 ET
Eagle Hill Intersects Near Surface High Grade Gold Including 26.89 g/t Gold Over 4.00 Meters at the Windfall Lake Property
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2011) - Eagle Hill Exploration Corporation (TSX VENTURE:EAG) ("Eagle Hill" or the "Company") is pleased to announce that it has received assay results from an additional two drill holes from the Company's ongoing 10,000 meter drill program. In addition to expanding existing gold zones, the assay results from this program have allowed the Company to identify a new high grade gold zone, named the Mallard Zone, on the Windfall Lake Property (the "Windfall Lake Property" or the "Property").
Hole EAG-11-252 found additional high grade gold near the surface with 26.89 g/t over 4.00 meters and 1.00 meter of 43.90 g/t in a fault zone that may be an extension of the Caribou Zone. In addition, this hole extended the Mink Zone closer to surface. The Mink Zone has a dip extension of 200 meters on this section. This intercept is located approximately 100 meters to the southwest of the intercept in hole EAG-10-245 (3.27 g/t over 8.15 meters).
Additionally, the Company has received results from hole EAG-10-247 and it returned an interval of 2.70 g/t Au over 5 meters from the Caribou Zone at a vertical depth of 200 meters below the surface and below the fault. The intersection confirms the continuity of the Caribou Zone to the southwest where it remains open at depth.
Eagle Hill is in the middle of a 10,000 meter drill program and has over 3,900 meters of drilling completed so far. Assay results for additional holes are pending and will be released when available.
A map of the Windfall Lake Property outlining the location of the gold zones, drill holes and areas of potential expansion has been posted on Eagle Hill's website at www.eaglehillexploration.com.
The following table shows the most material assay results from the two drill holes. A complete table of results, will be shown in the near future on Eagle Hill's website.
Hole Number From To Length Au Comments
(m) (m) (m) (g/t)
EAG-10-247 224.00 229.00 5.0 2.70 Caribou Zone
EAG-11-252 16.00 20.00 4.00 26.89 Fault zone at start of hole
incl. 18.00 19.00 1.00 73.20 Considered a portion of the
incl. 19.00 20.00 1.00 20.80 Caribou Zone
25.00 26.00 1.00 43.90 Fault zone as above
153.00 158.00 5.00 2.14 Mink Zone
The true widths are approximately 70% of reported width.
In other business, Eagle Hill is pleased to announce that it has received 8,191,720 shares of Yankee Hat Minerals Ltd. to settle an outstanding debt and has issued 450,000 options to two consultants at an exercise price of $0.30 per share, expiring on February 23, 2013.
Eagle Hill would also like to announce that it is a sponsor of the 2011 Prospectors and Developers Association of Canada convention and would invite all shareholders and interested parties to visit our display and meet the Eagle Hill team members at the Delegates Lounge on the 700 Level of the Metro Toronto Convention Centre.
Gold analyses reported in this release were performed by standard fire assay using a 30 gram charge with atomic absorption finish and a gravimetric finish for assays greater than 10 grams per ton. Assays returning results over 1 ounce per ton of gold by atomic absorption are re-assayed using the metallic sieve method. All assays were performed by ALS Chemex Laboratory Group, in Val d'Or, Quebec. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program. The QA-QC program, includes duplicate samples, blanks and analytical standards.
Jean-Philippe Desrochers, Ph.D., P.Geo. is a Qualified Person registered in Quebec as defined by NI-43-101 and has reviewed the technical information that this press release contains.
About the Windfall Lake Property
The Windfall Lake Property is comprised of 362 contiguous claims (over 12,000 hectares) in the Abitibi mineralized belt of northern Quebec. This area between Val d'Or and Chibougamau is known for its gold and copper production and excellent infrastructure for exploration and mining. Historically, the Windfall Lake Property has had extensive historic grassroots exploration work. Along with its independently acquired claims at the Windfall Lake Property. Eagle Hill has signed options with Murgor Resources Inc., Cliffs Natural Resources Inc. (formerly, Freewest Resources Canada Inc.), and Noront Resources Inc. to acquire the Windfall Lake Property.
About Eagle Hill Exploration Corporation
Eagle Hill Exploration Corporation is a Canadian mineral exploration company focused on the exploration and development of gold and precious metal prospects. The Company is set to become an advanced stage gold and precious metal exploration company with its acquisition of the Windfall Lake high grade gold project, located in Urban Township, Quebec, between Val-D'Or and Chibougamau. Eagle Hill seeks projects that contain or have potential to have large resource potential. The Company's website at www.eaglehillexploration.com and public filings at www.sedar.com provide additional information on its properties and other information with respect to its management and operations.
ON BEHALF OF THE BOARD,
P. Bradley Kitchen, President
FORWARD LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company's businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although both companies have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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