Company Overview

Eaglecrest Explorations Ltd. (EEL-TSX.V; EAT-Frankfurt) is a gold exploration company which has an option on the 180 square kilometre Fredonia project area in the prolific Central Cordillera gold belt in northwest Colombia. Eaglecrest also owns 100% of nearly 300 square kilometres of mineral title at the San Simon Gold Project in northeastern Bolivia. Eaglecrest is initiating exploration work in Colombia and has identified three areas at San Simon with open-pit and underground gold resource potential. Eaglecrest continues to utilize management's experience with major mining and exploration companies to acquire and explore additional strategic gold and gold-copper projects in the Central Cordillera of Colombia.

Advanced Exploration

Advanced Exploration Gold at San Simon is located in high-grade vertical gold shoots, similar to some of the major well-known gold deposits like those in Ghana in West Africa. This discovery enabled the company to begin a close-spaced infill definition program, drilling holes that are spaced 25 metres apart rather than 100 metres. To date, Eaglecrest has completed over 77,000 metres of drilling at San Simon.

Eaglecrest built an in-house resource model on the first gold shoot using Gemcon software and has begun drilling a second high-grade gold shoot (L484) about 150 metres west of where it began its infill delineation program. The company discovered thick gold mineralization in two holes that were previously drilled and discovered new high-grade gold intercepts which Eaglecrest will continue to drill.

Colombia

In December 2009, Eaglecrest signed a letter of intent to earn up to 75% of the mineral title of the 180 square kilimetre Fredonia project area in northwest Colombia. The property is positioned within one of the most prospective and productive gold belts in Colombia; one with more than 500 years of gold mining history and several significant modern day discoveries.

Surrounding the area to the north and south are a number of projects currently being advanced by multi-national exploration and mining companies such as Anglogold Ashanti / B2Gold's Quebradona project and the famous 500-year-old, 10+ million ounce Marmato mining district.

Bolivia

Bolivia is a prolific mineral-rich country with a centuries-old mining tradition. The country has both a high density of mineral occurrences and mining investment opportunities. Because of the stable mining and business environment, there are currently numerous foreign mining operators in Bolivia, including Apex Silver Mines, Coeur D'Alene Mines, Pan American Silver, Orvana Minerals and Jindal Steel.

The Bolivian government has expressed a commitment to facilitate the execution of direct foreign investment and mining projects like ours at San Simon. Another example in recent news points to cooperation between the Morales government and foreign investors seeking to exploit Bolivia's vast lithium reserves. Fitch Ratings assigns Bolivia a "B" long-term Issuer Default Rating, with a stable outlook.

As further testament to the pro-mining culture, two significant projects were put into production in the past three years: Apex Silver's San Cristobal mine and the Coeur D'Alene San Bartolome mine. In both cases, local and federal governments allowed permitting and production to begin.