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
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.
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