EAG

Eagle Hill Exploration Corporation (TSX VENTURE:EAG) ("Eagle Hill" or the
"Company") is pleased to announce that it has entered into a binding letter
agreement ("Noront Transaction") to acquire the remaining 25% ownership along
with all other interests in the mineral claims of the Windfall Lake Property
from Noront Resources Ltd. ("Noront"). Further, the Company has entered into
financing agreements with Southern Arc Minerals Inc. ("Southern Arc") and Dundee
Corporation ("Dundee") to provide a total of $12 million through two private
placements of units (together with the Noront Transaction, the "Transactions"). 


Highlights



--  Consolidates ownership of the Windfall Lake gold deposit, a Quebec high-
    grade gold exploration project presently hosting 538,000 oz Au at 10.1
    g/t Au in the Indicated Category and 822,000 oz Au at 8.8 g/t Au in the
    Inferred Category. 
    
--  Removes restrictive covenants and all future obligations to Noront with
    regard to the Windfall Lake Property. 
    
--  Removes a preferential payment to Noront of $11.9 million from cash flow
    upon commencement of production. 
    
--  Capital injection allows for a greater focus on expansion and upgrading
    of the current mineral resource, proceeding to development activities at
    the most optimal time. 
    
--  Additional board expertise through the nominees from Southern Arc and
    Dundee. 



"We have been involved in the development of Eagle Hill's Windfall Lake Project
and the surrounding gold camp for approximately 20 years and are excited to see
the project getting closer to being a producer," said Ned Goodman, President and
CEO of Dundee Corporation. "We are excited to continue to support Eagle Hill and
believe the high grade Windfall Lake mineralization has very good potential to
grow well beyond the current resource." 


"We are very pleased to bring to shareholders a series of transactions that will
consolidate ownership of the Windfall Lake gold deposit. We welcome a new
financial and technical partner in Southern Arc, and appreciate the confidence
shown by Dundee through its increased holdings. With the closing of the
Transactions, we look forward to commencing drilling in September," stated P.
Bradley Kitchen, CEO and President of Eagle Hill. 


Additional Details 

Pursuant to the Noront Transaction, Eagle Hill will acquire all of Noront's
remaining interest in the Windfall Lake Property for consideration of $5 million
in cash and 25 million common shares of Eagle Hill. Eagle Hill has also made a
payment of $615,000 to Noront, leaving $4,385,000 to be paid upon completion of
the Transactions. Noront will not retain any net smelter royalty or further
rights on the property. 


Concurrent with the Noront Transaction, Eagle Hill has entered into financing
agreements with Southern Arc and Dundee pursuant to which Southern Arc will make
an investment of $7.3 million and Dundee will increase its existing 18.8%
ownership with an additional investment of $4.7 million by way of private
placements (the "Private Placements") of units (the "Units") at a price of
$0.075 per Unit. Upon completion of the Transactions, Southern Arc and Dundee
will each hold 26.2% of Eagle Hill. Each Unit consists of one common share and
one half of one common share purchase warrant. Each whole warrant ("Warrant")
will entitle the holder to purchase one common share of Eagle Hill at a price of
$0.10 per common share for a period of four years. 


Pursuant to the financing agreements, and upon closing of the Private
Placements, Eagle Hill's board of directors will be reconstituted with two
directors nominated by Eagle Hill, two nominated by Southern Arc and two
nominated by Dundee. 


The common shares to be issued pursuant to the Noront Transaction and the
Private Placements will be subject to a four-month and one-day hold period in
accordance with applicable securities legislation. The Transactions are subject
to Eagle Hill and Southern Arc obtaining regulatory and appropriate shareholder
approval. 


Haywood Securities Inc. is acting as financial advisor to Eagle Hill with regard
to the Transaction.


About the Windfall Lake Deposit 

The Windfall Lake Property comprises 285 contiguous claims (approximately 12,400
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 gold deposit has had extensive grassroots exploration work. During July
2012, the Company updated its mineral resource estimate to reflect additional
drilling, the results of which are displayed in the table below. In addition to
the mineral resource listed below, the Windfall Lake gold possesses excellent
potential to be expanded both laterally and at depth.




----------------------------------------------------------------------------
                          Quantity           Gold Grade       Contained Gold
                     ('000 tonnes)                (g/t)             (ounces)
----------------------------------------------------------------------------
Indicated                    1,665                10.05              538,000
----------------------------------------------------------------------------
Inferred                     2,906                 8.76              822,000
----------------------------------------------------------------------------



Jean-Philippe Desrochers, PhD, PGeo, is a qualified person registered in Quebec
as defined by National Instrument 43-101 and has reviewed the technical
information contained in this press release. 


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 an advanced stage gold exploration company with its 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 contain
large resources. 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. 


Neither the 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. 


ON BEHALF OF THE BOARD, 

P. Bradley Kitchen, President

FORWARD LOOKING STATEMENTS 

Statements in this news release, which are not purely historical, are
forward-looking statements within the meaning of applicable United States and
Canadian securities laws, including any statements regarding beliefs, plans,
expectations or intentions regarding the future. These statements involve risks
and uncertainties which could cause actual results to differ materially from
those in the forward-looking statements contained herein. Such risks and
uncertainties may include, but are not limited to, the ability to obtain
additional financing, title to mineral properties, the ability to manage growth,
acquisitions of technology, equipment or human resources, the effect of economic
and business conditions, the ability to attract and retain skilled personnel,
the risks inherent in exploration and factors outside the control of the
Company. These forward-looking statements are made as of the date of this news
release, and the Company assumes no obligation to update the forward-looking
statements or to update the reasons why actual results could differ from those
projected in the forward-looking statements. Although the Company believes that
the beliefs, plans, expectations and intentions contained in this news release
are reasonable, there can be no assurance those beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consider all of the
information set forth herein and should also refer to the risk factors disclosed
in the Company's most recent Annual Information Form filed on SEDAR which is
available at www.sedar.com. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy securities.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Network IR (Vancouver)
Andrew Mugridge / Benjamin Curry
604.559.5573
info@networkir.com
www.networkir.com


MI3 Communications Financieres Inc. (Montreal)
Nathalie Dion
514.904.1333
nathalie@mi3.ca
www.mi3.ca

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