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Eaglecrest Completes Seventh Gold Concentrate Shipment From San Simon Project

2008-03-31 06:36:00

Eaglecrest Completes Seventh Gold Concentrate Shipment From San Simon Project

VANCOUVER, BRITISH COLUMBIA–( EMWNews – March 31, 2008) – Eaglecrest Explorations Ltd. (TSX VENTURE:EEL)(FRANKFURT:EAT) today announced it has completed its seventh gold concentrate shipment. The shipment has been received by the Met-Mex Penoles S.A. de CV smelter in Torreon, Mexico. The concentrates were produced at the onsite bulk sampling mill at Eaglecrest’s San Simon project.

The 1.28 tonne shipment contains approximately 122 ounces of gold at a grade of 95 ounces per tonne. Based on average mill feed grades of the individual bulk samples, the concentrates represent a weighted-average recovery of 92.5%. The shipment includes clean-up material and some partial lots in addition to concentrates that represent 64 bulk samples totaling 1619 tons, which were extracted July and August, 2007 in the run-up to the trial stoping program, at an average grade of 2.6 grams/tonne.

“This gold concentrate shipment was produced from material extracted within the L463 gold shoot,” said Hans Rasmussen, President and COO. “The production of the concentrate and the significant recovery has demonstrated that non-optimized standard flotation is effective in extracting gold in the Dona Amelia zone. The sale of these concentrates is used to offset some of our overall exploration costs at San Simon. Additionally, the subsequent stoping program in the L463 gold shoot has provided valuable information about different underground mining techniques and the distribution of gold in these shoots.”

The agreement with Penoles provides for Eaglecrest to receive payment for approximately 95% of the gold value in the concentrate. The settlement gold value is based on the average London spot gold price per ounce for the month following the arrival of the shipment to the smelter. After shipping costs and royalty payments to the Bolivian government, the company’s net receipts are approximately 84% of the gold value in the concentrate.

The bulk sampling plant, which has been placed on care and maintenance with the discontinuance of the bulk sampling program while the company focuses toward the goal of establishing a NI 43-101 compliant gold resource, and the fire assay laboratory (which is independently operated by Analab) are under the overall supervision of Independent Mineral Processing Consultant Gary Hawthorn, P. Eng. (B.C.) who is a Qualified Person under NI 43-101. Eaglecrest’s exploration program is overseen 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. He has reviewed and approved the technical information in this news release.

On behalf of the Board of Directors,

Hans Rasmussen, President, Eaglecrest Explorations Ltd.

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 in the Precambrian Amazon Basin 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 and at

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.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

For more information, please contact

Eaglecrest Explorations Ltd.
Paul Zdebiak
(604) 687-7272
Email: [email protected]


Barnes McInerney Inc.
Daniel Weinerman
(416) 367-5000 ext. 248
Email: [email protected]

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