VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2012) -Eagle Hill Exploration Corporation(TSX VENTURE:EAG)(OTCQX:EHECF)(FRANKFURT:EH0) ("Eagle Hill" or the "Company") is pleased to announce a private placement (the "Financing") with Laurentian Bank Securities acting as lead agent (the "Agent"). The total gross proceeds under the Financing will be up to C$2.0 million of flow-Through shares (the "Flow-Through Shares") at a price of C$0.185 per Quebec Flow-through Share (the "QFT Price") and at a price of C$0.17 per National Flow-Through Share (the "NFT Price"). The Company has also granted the Agent an over-allotment option to raise additional gross proceeds of C$1.0 million.

The Company will pay the Agent a cash fee equal to 7% of the gross proceeds raised in connection with the Financing.

The Financing will be subject to TSX Ventures Exchange and regulatory approval. Proceeds of the Financing will be used for further exploration and development of the Windfall Lake Property.

About the Windfall Lake Property

The Windfall Lake Property is comprised of 362 contiguous claims (over 12,000 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 Property has had extensive grassroots exploration work. Along with its independently acquired claims at the Windfall Lake Property, Eagle Hill has also signed options with Murgor Resources Inc., Cliffs Natural Resources Inc. (formerly, Freewest Resources Canada Inc.), and Noront Resources Ltd. to acquire the Windfall Lake Property. During July 2012, the Company received its second mineral resource estimate, the results of which are displayed in the table below:

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

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 set to become an advanced stage gold exploration company with its acquisition of the 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 have large resource potential. 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.

ON BEHALF OF THE BOARD,

P. Bradley Kitchen, President