Eagle Hill Exploration Corporation: Corporate Update and Development Strategy


Eagle Hill Exploration Corporation (EAG.V) today provided an update for the Windfall Lake Property.

Summary of Eagle Hill's Activities in 2012 and first quarter of 2013

Eagle Hill completed a total of 46,543 meters of drilling in 159 drill holes during this period and obtained significant positive results, while expanding the size of the mineral resource and improving its quality. The amount of drilling completed after the July 2012 mineral resource estimate includes 101 drill holes for 29,208 meters that were significant in extending the size of the known gold zones.

Next Phase of Development

With the three year extension to the Property's option agreement, the Company now has enough time to define a reserve, continue exploration drilling to expand the resource below and to the southwest of the currently known gold zones, and further advance towards the development of the Project.

Eagle Hill intends to complete the negotiations for the next stage development agreement with the Waswanipi and Grand Council of the Cree (Eeyou Istchee) to better reflect the more advanced stage of the Property;

As announced on April 22, 2013, the Company has a 90-day exclusivity commitment to acquire the remaining 25% of the Property. Eagle Hill will review options to consolidate the entire property but its main focus will be on satisfying its deliverables under the Option Agreement Extension.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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