EAG

Eagle Hill Exploration Corporation (TSX VENTURE:EAG) ("Eagle Hill" or the
"Company") is pleased to announce the results of its annual general meeting and
subsequent Board of Directors meeting, both held on August 14, 2013.


Eagle Hill's shareholders approved a private placement, as previously announced
on July 11, 2013, whereby Southern Arc Minerals Inc. ("Southern Arc") and Dundee
Corporation together invested an aggregate of $12 million to each hold a 26.14%
interest in Eagle Hill. Southern Arc invested $7,324,050 to acquire 97,654,000
units of Eagle Hill and Dundee Corporation invested $4,675,950 to acquire an
additional 62,346,000 units at a price of $0.075 per unit. Each unit comprises
one common share of Eagle Hill and one half share purchase warrant, with each
whole warrant entitling the holder to acquire a further common share of Eagle
Hill at a price of $0.10 per share for a period of four years. 


Eagle Hill will use proceeds from the private placement to implement an
aggressive drilling program at the Windfall Lake Gold Deposit, and complete the
acquisition of Noront Resources Ltd.'s 25% interest, existing royalties and
rights over the Windfall Lake Property. Following the private placement and
acquisition of Noront's interest, Eagle Hill will have 373,538,840 common shares
issued and outstanding.


Following Eagle Hill's annual general meeting and Board meeting, the Eagle Hill
Board of Directors comprises five directors: John Proust - Chairman, Dr. Michael
Andrews, David Christie, Carl Calandra and Robert Parsons. Bradley Kitchen and
Gerald Ruth have stepped down from the Board. Mr. Kitchen and Mr. Ruth have been
Eagle Hill directors since 2006 and 2010, respectively, and their contributions
are appreciated.


Eagle Hill's Board of Directors subsequently made the following management
appointments: 




    John Proust - Interim CEO                                               
    Dr. Michael Andrews - Interim President                                 
    Brian Richardson - Interim CFO                                          
    Dr. Jean-Philippe Desrochers - Vice President, Exploration              
    Celeste Curran - Vice President, Corporate & Legal Affairs              
    Rhylin Bailie - Vice President, Communications & Investor Relations     
    Eileen Au - Corporate Secretary                                         



The Board of Directors promoted Dr. Jean-Philippe Desrochers to the position of
Vice President, Exploration. Dr. Desrochers has been overseeing the Windfall
Lake property since 2005. He joined Eagle Hill as Chief Geologist in 2010 and
has been instrumental in the development of Eagle Hill's mineral resource.
Technical representatives from Southern Arc and Dundee will work with Dr.
Desrochers to plan and execute an exploration program for the Windfall Lake Gold
Project. Current plans for the property include a $5 million exploration program
with the objective of expanding the existing resource. More information
regarding exploration and development plans will be provided shortly.


The Board of Directors will conduct an executive search to permanently fill the
positions of CEO, President and CFO.


"Eagle Hill is now in a strong position to rapidly advance the Windfall Lake
Gold Deposit," said John Proust, Chairman and Interim CEO of Eagle Hill. "We are
well funded and have the technical and business expertise required to unlock the
full potential of this high-grade gold project."


About the Eagle Hill Board of Directors

John Proust, CDir - Chairman

John Proust is the founder and principal shareholder of numerous public and
private companies. He has successfully managed, directed and advised public and
private companies regarding debt and equity financing, mergers and acquisitions,
and corporate restructuring since 1986. Highly regarded in the industry for his
management skills and attention to detail, he has held senior positions and
served on the boards of numerous private and TSX Venture Exchange listed
companies. He is currently Chairman, CEO and a director of Southern Arc
Minerals, CEO and a director of New Zealand Energy Corp., and Chairman and a
director of Canada Energy Partners. Mr. Proust received the designation of
Chartered Director (CDir) from McMaster University, Directors College, Michael
G. DeGroote School of Business.


Dr. Michael Andrews, PhD, FAusIMM 

Mike Andrews is a geologist with over 30 years of research and mining industry
experience in gold, copper, coal and iron exploration. Dr. Andrews has led the
development of numerous projects from grassroots exploration through to
feasibility and production. He played an instrumental role in the discovery,
exploration, feasibility and development of the highly profitable underground
gold-silver Way Linggo Mine on Sumatra, Indonesia. Dr. Andrews has held senior
operating and advisory roles with many public and private companies. Currently
he is President, COO and a director of Southern Arc Minerals. Dr. Andrews holds
an honours degree in Geology from the University of Reading and a doctorate in
exploration geochemistry from the University of Wales, and is a Fellow of the
Australasian Institute of Mining and Metallurgy.


David Christie, PGeo 

David Christie worked as an exploration geologist with a number of resource
companies for more than 14 years before moving to a mining equity research role
in 2000. In 2001 he was promoted to the gold and precious mineral equity analyst
role at TD Securities and moved to Scotia Capital in 2007, where he was highly
ranked in industry surveys. Mr. Christie joined Bellotti Goodman Inc. as
President in 2011, and assumed the role of Vice President of Goodman and Company
Investment Counsel in 2012. Mr. Christie is a professional geologist with APGO
and NAPEG, is a Fellow of the Geological Association of Canada, and has been a
member of the PDAC convention committee for the past six years.


Carl Calandra, LLB, MBA 

Carl Calandra is Senior Legal Counsel to Dundee Corporation, where his practice
focuses on corporate finance, securities and investment funds. He graduated from
the concurrent Honours Business Administration / Bachelor of Laws programs at
the University of Western Ontario and subsequently earned his Masters of
Business Administration (with distinction) at the Ivey Business School. Carl has
been focused on the financing and governance of resource issuers since 2007.


Robert Parsons, CA 

Bob Parsons is a Chartered Accountant and former PricewaterhouseCoopers partner.
He currently serves on the Advisory Board of the Indonesian Mining Association
and the International Affairs Committee of the Prospectors and Developers
Association of Canada, and is a director of Indico Minerals Ltd. and Prism
Resources Inc. In 2013 Bob was awarded the Queen Elizabeth II Diamond Jubilee
Medal for his contribution to Canada's minerals industry. Bob has served as a
board member of the PDAC (from 1985 to 2003), the Indonesian Mining Association,
the Canada Indonesia Chamber of Commerce, the World Mines Ministries Forum, the
Canadian Minerals Industry Federation, the Advisory Council of the Centre for
Resource Studies at Queens University, and the Professional Advisory Board of
the Government of Canada's Petroleum Monitoring Agency. Bob Parsons has
previously served on the boards of several publicly listed exploration
companies, including Weda Bay Minerals Inc. and Norsemont Mining Inc. Bob is
active as an independent consultant in developing countries, where he has
advised twenty governments on mineral policy matters. 


On Behalf of the Board,

"John Proust"

Chairman and Interim CEO

About Eagle Hill Exploration Corporation

Eagle Hill Exploration Corporation 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. Southern Arc
Minerals and Dundee Corporation each hold a 26.14% interest in Eagle Hill and
recently invested an aggregate of $12 million to fund an aggressive exploration
program. More information is available on the Company's website 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.


Cautionary Note Regarding Forward-looking Statements

This document contains certain forward-looking information and forward-looking
statements within the meaning of applicable securities legislation (collectively
"forward-looking statements"). The use of any of the words "will", "plan",
"objective", "unlock" and similar expressions are intended to identify
forward-looking statements. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward-looking statements.
Such forward-looking statements should not be unduly relied upon. This document
contains forward-looking statements and assumptions pertaining to the following:
uncertainty involving resource estimates and the ability to extract those
resources economically, or at all; uncertainty involving drilling programs and
the Company's ability to expand and upgrade existing resource estimates; the
regulatory process and actions; the need to work with local communities and
authorities to advance the properties; the need to work with Dundee and Southern
Arc to advance the properties; technical issues; new legislation; competitive
factors and conditions; uncertainties resulting from potential delays or changes
in plans; the occurrence of unexpected events; and the Company's ability to
execute and implement future plans. Actual results achieved may vary from the
information provided herein as a result of numerous known and unknown risks and
uncertainties and other factors, including uncertainty related to drill results
and the inclusion of drill results in future resource estimates for the
property. The Company believes the expectations reflected in those
forward-looking statements are reasonable, but no assurance can be given that
these expectations will prove to be correct. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Eagle Hill Contact
Rhylin Bailie
Vice President, Communications & Investor Relations
604-630-9661
info@eaglehillexploration.com

(TSXV:EAG)
Historical Stock Chart
From Jun 2024 to Jul 2024

(TSXV:EAG)
Historical Stock Chart
From Jul 2023 to Jul 2024