Eagle Hill Exploration Completes Purchase of Windfall Lake Net Smelter Return Royalties
06.05.2014 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - May 6, 2014) - Eagle Hill Exploration Corp. (TSX VENTURE:EAG) (OTCQX:EHECF) ("Eagle Hill" or the "Company") is pleased to announce that the Company has completed its purchase of three 2% net smelter return royalties (each an "NSR") related to Eagle Hill's Windfall Lake Gold Project, which is located in the Abitibi Gold Belt approximately 200 km northeast of Val d'Or, Quebec. As previously announced on April 24, 2014, Eagle Hill has paid a total of $60,000 and issued a total of 3,333,334 shares to purchase the NSRs, which cover 3,469.9 hectares of the 12,400 hectare Windfall Lake Property. The shares issued to the vendors of the royalties are subject to a four-month hold period.The remaining NSRs on the Windfall Lake Property are shown in Figure 1:
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On Behalf of the Board of Directors
John Proust
Chairman and Interim CEO
About the Windfall Lake Gold Project
The Windfall Lake gold deposit comprises a number of lenses of pyritic stockwork and shear zones situated in the Archean Urban-Barry Greenstone Belt, approximately 200 km northeast of Val d'Or, Quebec. SRK Consulting (Canada) Inc. prepared a mineral resource statement for Eagle Hill in compliance with National Instrument 43-101 in February 2014 comprising 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. 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.
About Eagle Hill Exploration Corporation
Eagle Hill Exploration Corp. 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. In August 2013, Southern Arc Minerals and Dundee Corporation invested an aggregate of $12 million to purchase a controlling interest in Eagle Hill and fund an aggressive exploration program, and remain the Company's largest shareholders. More information is available at www.eaglehillexploration.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person
The technical information in this document has been reviewed by Eagle Hill's Vice President Exploration, Jean-Philippe Desrochers, PhD, PGeo, who has sufficient experience relevant to the style of mineralization under consideration and qualifies as a Qualified Person as defined by National Instrument 43-101.
Contact
Eagle Hill Exploration Corp.
Rhylin Bailie, Vice President, Communications & Investor Relations
604-697-5791
info@eaglehillexploration.com
www.eaglehillexploration.com