Eagle Hill Exploration Corporation : Eagle Hill Exploration Announces Flow-through Private Placement of up to $2 Million

Eagle Hill Exploration Announces Flow-through Private Placement of up to $2 Million

December 20, 2013 - Vancouver, BC - Eagle Hill Exploration Corporation (TSX.V: EAG, OTCQX: EHECF) ("Eagle Hill" or the "Company"), a Canadian mining company that is advancing the high-grade Windfall Lake Gold Deposit in Quebec, Canada,is pleased to announce the terms of a non-brokered private placement of up to $2 million (the "Offering"). The Offering will consist of up to 18.2 million common shares of the Company (the "Shares") issued on a "flow-through" basis at a price of $0.11 per Share. The structured transaction will involve the issuance of the Shares, their donation to charity and subsequent resale by charities to institutional and accredited investors.

The Shares will be subject to a four-month hold from the date of closing of the Offering. Proceeds from the Offering will be used for eligible Canadian exploration expenses incurred during 2014 at the Company's Windfall Lake Gold Deposit. The Company will renounce the qualifying expenditures to subscribers of the Shares for the fiscal year ended December 31, 2013.

The Offering is subject to TSX Venture Exchange acceptance. Interested investors who are accredited, or can invest more than $150,000 in the Offering, can obtain additional information by emailing Eagle Hill at [e-mail].

The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these Shares in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.

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 stockworks and shears hosted in Archean felsic and intermediate volcanics situated in the Urban-Barry Greenstone Belt,approximately 200 km northeast of Val d'Or, Quebec. SRK Consulting (Canada) Inc. completed a National Instrument 43-101 compliant resource estimate for Eagle Hill in July 2012 based on historical drilling by Eagle Hill and previous operators. The estimated resource comprises 1,665,000 tonnes at 10.05 g/t gold (538,000 ounces) in the indicated category and 2,906,000 tonnes at 8.76 g/t gold (822,000 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, consolidate ownership of the Windfall Lake property and fund an aggressive exploration program. More information is available at www.eaglehillexploration.com.

Eagle Hill Contact

Rhylin Bailie
Vice President, Communications & Investor Relations
Telephone: [phone]
Email: [e-mail]

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", "will be", 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 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.