VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 17, 2012) - Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") (News - Market indicators) is pleased to announce the closing of the previously announced Institutional financing led by Laurentian Bank Securities Inc.. The transaction involved the issuance of Quebec Flow-Through common shares and National Flow-Through common shares on a private placement basis.

The Company raised a total of $3,338,000 consisting of 10,563,235 common shares issued on a National flow-through basis at $0.17 per share for proceeds of $1.796 million and also issued 8,336,918 common shares on a Quebec flow-through basis at $0.185 per share for proceeds of $1.542 million. The Company will pay the Agent a cash fee equal to 7% of the gross proceeds raised in connection with the financing. In addition, the Agents will receive agent's warrants equal to 7% of the Shares issued (the "Agent's Warrants"). Each Agent's Warrant allows the Agent to acquire one common share of Eagle Hill at a purchase price of C$0.175 per share exercisable for 18 months after the closing date.

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

Filing of NI 43-101 Technical Report

In other news, Eagle Hill also announces that it has filed the Mineral Resource Technical Report associated with the July Mineral resource update. The report can be found on www.sedar.com. Windfall Lake currently contains an NI 43-101 resource estimate of 538,000 ounces Au at a grade of 10.05 g/t in the Indicated category and 822,000 ounces Au at a grade of 8.76 g/t in the Inferred category.

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 Inc. 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:

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

FORWARD-LOOKING STATEMENTS

Statements in this news release, which are not purely historical, are forward-looking statements within the meaning of applicable United States and Canadian securities laws, including any statements regarding beliefs, plans, expectations or intentions regarding the future. These statements involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Such risks and uncertainties may include, but are not limited to, the ability to obtain additional financing, title to mineral properties, the ability to manage growth, acquisitions of technology, equipment or human resources, the effect of economic and business conditions, the ability to attract and retain skilled personnel, the risks inherent in exploration and factors outside the control of the Company. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's most recent Annual Information Form filed on SEDAR which is available at www.sedar.com. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.