Eagle Hill Exploration Purchases Windfall Lake Net Smelter Return Royalties
2014年4月24日 - 8:00PM
Marketwired
Eagle Hill Exploration Purchases Windfall Lake Net Smelter Return
Royalties
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 24, 2014) -
Eagle Hill Exploration Corporation (TSX-VENTURE:EAG)(OTCQX:EHECF)
("Eagle Hill" or the "Company") is pleased to announce that the
Company has entered into agreements to purchase three net smelter
return royalties (each an "NSR") encumbering the Windfall Lake
Property. Specifically, Eagle Hill has agreed to acquire two 2%
NSRs from Benoit Boudreault ("Boudreault") and a 2% NSR from
Jacques Duval ("Duval") (collectively, the "NSR Acquisition"),
related to mining claims covering 1,825.5 hectares and 1,644.4
hectares, respectively, on the 12,400 hectare Windfall Lake
Property. Eagle Hill will pay $30,000 and issue 1,666,667 common
shares to each of Boudreault and Duval, at closing, as
consideration for the NSR Acquisition. The NSR Acquisition is
subject to approval by the TSX Venture Exchange.
To view the figures associated with this press release, please
visit the following link:
http://media3.marketwire.com/docs/EAGfigs.pdf.
"Eagle Hill continues to increase its interest in the Windfall
Lake Property, underscoring the Company's confidence in this
high-grade gold project," said John Proust, Chairman and Interim
Chief Executive Officer of Eagle Hill. "The Company recently
completed a small drill program and a $1 million flow-through
financing, and plans to further advance the Windfall Lake Property
in 2014 with additional drilling and technical studies."
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 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. 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.
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", "subject to", "plans",
"continues", "advance" 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: approval from the TSX Venture Exchange
for the NSR Acquisition; 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
property; 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.
Eagle Hill ContactRhylin BailieVice President, Communications
& Investor
Relations604-697-5791info@eaglehillexploration.comwww.eaglehillexploration.com
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