Eagle Hill Receives Approval for Additional Windfall Claims and Closes Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2009) - Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") (TSX VENTURE:EAG) has received TSX Venture Exchange approval for its previously announced Windfall Lake Property claims acquisition from Murgor Resources Inc. ("Murgor"), Freewest Resources Canada Inc. ("Freewest").

With this approval in place, Eagle Hill will now plan an exploration program for the Windfall Lake Property claims acquired from Murgor, Freewest and Noront Resources Ltd.

The Company has also closed the previously announced private placement for gross proceeds of C$249,999.90 (the "Private Placement") through its agent, IBK Capital Corp.

The Private Placement is comprised of 1,666,666 flow through units (a "Flow-Through Unit"), consisting of one common share and one half share purchase warrant (a "Warrant"), at a price of C$0.15 per Flow-Through Unit. Each whole warrant will entitle the holder to acquire one additional common share of the Company at a price of C$0.20 for a period of one (1) year after the closing.

The Flow-Through Units issued in connection with this Private Placement are subject to a hold period until March 1st, 2010, in accordance with applicable securities laws and TSX Venture Exchange policies.

Eagle Hill engaged IBK Capital Corp. ("IBK" or the "Agent") to complete the Private Placement on a best efforts basis. The Company paid an aggregate cash commission in the amount of C$22,499.99 to IBK. The Company also issued 166,666 Agent`s warrants entitling IBK to purchase up to 166,666 common shares at a price of C$0.15 for a period of four (4) years from the date of issue (the "Agent's Warrants").

The net proceeds from the Private Placement will be used to fund the initial exploration program of the Company's interest in the expanded Windfall Lake Property, located in Urban Township, Quebec, between Val D'or and Chibougamau