Eagle Hill Announces Extension of Its Investor Relations Contract With MI3
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/29/12 -- Eagle Hill Exploration Corporation (TSX VENTURE: EAG)(OTCQX: EHECF)(FRANKFURT: EH0) ("Eagle Hill" or the "Company") is pleased to announce that they have renewed an Investor Relations Agreement (the "Agreement") with a Montreal based company, MI3 Communication Financieres Inc. ("MI3").
Eagle Hill will continue to pay MI3 a monthly fee of $4,000. MI3 will maintain their previously issued 300,000 incentive stock options (the "Options") and have already vested in accordance with the TSX Venture exchange policies. In addition, MI3 has been granted an additional 150,000 options at an exercise price of $0.15 per share to be vested according to TSX Venture Exchange policies, expiring one year from the date of grant.
The Agreement has a term of twelve (12) months but can be cancelled, with thirty (30) day notice, by either party. This Agreement extension is subject to regulatory approval.
Options
The Board of Directors of Eagle Hill has also granted 2.45 million options to its directors and officers at an exercise price of $0.15 per share, expiring five (5) years from the date of grant.
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 grassroots exploration work. Along with its independently acquired claims at the Windfall Lake Property, Eagle Hill has also 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. During November 2011, the Company received its initial mineral resource estimate, the results of which are displayed in the table below:
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Indicated Inferred
Cut-Off ---------------------------------------------------------------
Grade Quantity Grade Contained Quantity Grade Contained
Gold ('000 Gold Gold ('000 Gold Gold
(g/t) tonnes) (g/t) (ounces) tonnes) (g/t) (ounces)
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3.0 1,144 9.10 334,719 1,690 6.70 364,093
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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 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
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.
Contacts:
Eagle Hill Exploration Corporation
David Matousek
Corporate Communications
604.697.5791
info@eaglehillexploration.com
www.eaglehillexploration.com
MI3 Communications Financieres Inc. (Montreal)
Nathalie Dion
514-904-1333
nathalie@mi3.ca
www.mi3.ca
