Eaglecrest Drills 9.65 Metres of 7.9 Grams Per Tonne Gold: Financial News

Eaglecrest Drills 9.65 Metres of 7.9 Grams Per Tonne Gold
Monday March 3, 12:38 pm ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Mar 3, 2008 -- Eaglecrest Explorations Ltd. (CDNX:EEL.V - News)(Frankfurt:EAT.F - News) today announced results from the first ten holes drilled in 2008 as part of the company's infill and delineation program at its San Simon project in northeastern Bolivia. The program included intercepts of 9.65 metres at 7.9 grams gold per tonne in dh300 and 2.3 metres at 6.7 grams per tonne in dh305. Total drilling in the 10 holes was 2876 metres.

Hole dh300 fills a gap in the drilling pattern at the L463 high-grade gold shoot and dh305 is located in the L484 shoot. All of the intercepts in the 10 new drill holes that are longer than half metre and grade more than 2 grams per tonne are shown in the table below, with intervals grading above 5 grams per tonne highlighted.

"The high-grade gold intercept in dh300 will add significant insight to our 3D model of the L463 gold shoot," says Hans Rasmussen, President and Chief Operating Officer. "The intercepts from new drilling in the L484 shoot are encouraging for our ongoing drill program at that hole. The new drilling and re-sampling results help us move toward our goal of establishing a NI 43-101 compliant gold resource for the Dona Amelia zone."

While performing a detailed review of drill core in 2007, Eaglecrest's geologists determined that some zones of gold mineralization had not previously been sampled, so a systematic re-logging and re-sampling program was undertaken. The recent results include two intervals generated by the re-sampling that assay more than 5 grams gold per tonne. These intervals, in dh175 and dh266, are also shown in the table below.

I am especially encouraged that the re-logging and re-sampling of previously drilled holes is yielding new mineralized intervals," added Mr. Rasmussen. "This mineralization occurs in or near structures that do not host wide quartz veins, so the re-sampling program has potential to produce considerable additions to our inventory of mineralized intervals."

 

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                                                         Gold
                                                        Grade
                                 Interval   Interval   (grams/
Drill Hole #       From      To  length(i)   width(i)   tonne)  Area
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dh300            304.58  314.23      9.65        8.9      7.9   L463 shoot
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 includes        305.55  306.67      1.12        0.9     17.6   "
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 also includes   309.06  310.25      1.19        1.1     20.2   "
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dh303            231.56  232.32      0.76        0.7      2.7   L463 shoot
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dh305            253.85  256.50      2.65        2.3      6.7   L484 shoot
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 includes        254.70  255.56      0.86        0.7     13.3   "
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dh306            163.80  165.35      1.55        1.5      2.6   L463 shoot
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dh307            254.65  255.50      0.85        0.7      3.0   L484 shoot
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dh309            216.40  219.70      3.30        2.5      2.2   L463 shoot
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dh175
 (new sampling)  446.54  448.80      2.26        2.0      5.1   L484 shoot
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dh266
(new sampling)   152.10  153.15      1.05        0.7      6.1   L463 shoot
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(i) from, to, length, and width in this table are expressed in metres;
    width represents approximate true thickness. Assay intervals shown here
    use a cutoff grade of 1 gram/tonne gold.

A complete list of the latest diamond drill hole assay results is posted on the Company's website at http://www.eaglecrestexplorations.com and a three-dimensional presentation of all drill hole results can be viewed at http://www.corebox.net/properties/san_simon/.

The technical information in this News Release has been reviewed and approved by Dr. Odin Christensen, a technical consultant and Eaglecrest board member, who is a Qualified Person in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. The drill core samples were prepared at the on-site fire assay laboratory that is independently operated by Analab S.A. of Peru and is under the overall supervision of Gary Hawthorn, a Mineral Processing Engineer and a Qualified Person under NI 43-101.

About Eaglecrest

Eaglecrest Explorations Ltd. is conducting an advanced exploration project on its San Simon gold property in Bolivia. Eaglecrest controls mineral rights that cover nearly 300 square kilometres on the San Simon Plateau, situated on the Precambrian shield in northeast Bolivia. Eaglecrest's mandate is to increase shareholder value by employing strong technical expertise, both at the Board level and on the ground, to systematically explore and develop San Simon. Additional information is available at the Company's website, at www.eaglecrestexplorations.com and at www.sedar.com.

On behalf of the Board of Directors,

Hans Rasmussen, President, Eaglecrest Exploration Ltd.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: This news release concerns certain "forward-looking statements", including but not limited to, the statements regarding the Company's strategic plan, work programs and exploration budgets at the Company's San Simon Project. The forward-looking statements express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with industry risks, risks associated with foreign operations, environmental risks and hazards and other risks.