Eaglecrest Acquires the Fredonia Project Area In Colombia 

VANCOUVER, BC - Eaglecrest Explorations Ltd. reported that it signed the definitive agreement with Bullet Holding Corp. to purchase up to a 75% interest in the mineral title of the 15,000 hectare Fredonia Area ("Fredonia"), located in Antioquia, Colombia. This is the first of several projects Eaglecrest has been evaluating for acquisition in the highly prospective and gold-rich, 300-kilometre long Middle Cauca Belt that extends from AngloGold-Ashanti's 13 million ounce La Colosa gold project through Medellin.

"The acquisition of the Fredonia project is a major turning point for Eaglecrest as a company. With the San Simon Bolivian project anchoring our portfolio, this acquisition provides another significant land position within an unexplored portion of a world-class gold belt where gold production dates back 500 years. We are eager and energized to capitalize on this extraordinary opportunity and are confident that this project will be a substantial source of added value for the Company," said President Hans Rasmussen.

Geologically, the belt extends as far south as the giant La Colosa gold project and continues under most of the Fredonia land. There are mapped intrusive rocks with surface gold mineralization throughout the property. Rasmussen said, "Now that we have a signed agreement, we will engage our Medellin-based team and begin regional geophysics, geochemistry and geology compilation to identify those areas most likely to host typical porphyry gold-copper targets, like La Colosa. Such a typical target can be from 500 metres to two kilometres in diameter. Because of the large land package, we anticipate that several of these targets are likely to exist. Our team is highly experienced in exploring these types of targets from the Andes of Chile and Argentina to the Alaska Range, USA, and we feel that once we identify areas of interest, we can quickly evaluate them by employing modern technology, skilled consultants and our extremely deep knowledge base."

The Fredonia project is positioned within gold belts of Colombia, with more than 500 years of gold mining history combined with a number of significant modern day discoveries.

The project is located between the Cauca River Valley and the city of Medellin, in Antioquia, in the Middle Cauca Belt, between the Eastern and Western Cordillera of the Andes Mountains. Its infrastructure is excellent, with vehicle access by both asphalt and dirt road and electrical lines crossing the property in various locales.

Fredonia is a large area of principally unexplored ground but based on Eaglecrest's experience, the initial reconnaissance exploration by Bullet, the proximity to significant proven gold resources, and preliminary geophysical work, there is a high-probability for the discovery of one or more large porphyry-style gold deposits. The mineral title consists of 29 concessions covering, 15,000 hectares of which have been granted by the government. Because there still remain several areas under application status within this property package, it is anticipated that granted mineral title in the Fredonia project covered by this Agreement will grow further.

The company's address is 1055 West Hastings Street, Suite 300,?Vancouver, BC V6E 2E9.