December 21, 2012 (TSX VENTURE:EAG)(OTCQX:EHECF)(FRANKFURT:EH0) Eagle Hill
Exploration Corporation ("Eagle Hill" or the "Company") is pleased to announce
the closing of the previously announced Institutional financing (the
"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 $1,699,991 consisting of 4,117,600 common shares
issued on a National flow-through basis at $0.17 per share for proceeds of
$699,992 and also issued 5,405,405 common shares on a Quebec flow-through basis
at $0.185 per share for proceeds of $999,999. The Company will pay the Agent a
cash fee equal to 7% of the gross proceeds raised in connection with the
financing.


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.


All securities issued under the Financing will be subject to a hold period
expiring on April 22, 2013.


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 Ltd.. 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:




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                     Quantity ('000                          Contained Gold
                            tonnes)    Grade Gold (g/t)            (ounces)
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Indicated                     1,665               10.05             538,000
---------------------------------------------------------------------------
Inferred                      2,906                8.76             822,000
---------------------------------------------------------------------------



Jean-Philippe Desrochers, PhD, PGeo, is a qualified person registered in Quebec
as defined by NI-43-101 and has reviewed the technical information that this
press release contains. 


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

This release contains "forward-looking statements" within the meaning of
applicable Canadian securities legislation, including predictions, projections
and forecasts. Forward-looking statements include, but are not limited to,
statements that address activities, events or developments that the Company
expects or anticipates will or may occur in the future, including such things as
future business strategy, competitive strengths, goals, expansion, growth of the
Company's businesses, operations, plans and with respect to exploration results,
the timing and success of exploration activities generally, permitting time
lines, government regulation of exploration and mining operations, environmental
risks, title disputes or claims, limitations on insurance coverage, timing and
possible outcome of any pending litigation and timing and results of future
resource estimates or future economic studies.


Often, but not always, forward-looking statements can be identified by the use
of words such as "plans", "planning", "planned", "expects" or "looking forward",
"does not expect", "continues", "scheduled", "estimates", "forecasts",
"intends", "potential", "anticipates", "does not anticipate" or "belief" or
describes a "goal" or variation of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved.


Forward-looking statements are based on a number of material factors and
assumptions, including, the result of drilling and exploration activities, that
contracted parties provide goods and/or services on the agreed timeframes, that
equipment necessary for exploration is available as scheduled and does not incur
unforeseen break downs, that no labour shortages or delays are incurred, that
plant and equipment function as specified, that no unusual geological or
technical problems occur, and that laboratory and other related services are
available and perform as contracted. Forward-looking statements involve known
and unknown risks, future events, conditions, uncertainties and other factors
which may cause the actual results, performance or achievements to be materially
different from any future results, prediction, projection, forecast, performance
or achievements expressed or implied by the forward-looking statements. Such
factors include, among others, the interpretation and actual results of current
exploration activities; changes in project parameters as plans continue to be
refined; future prices of gold; possible variations in grade or recovery rates;
failure of equipment or processes to operate as anticipated; the failure of
contracted parties to perform; labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing or in the
completion of exploration, as well as those factors disclosed in the company's
publicly filed documents. Although the Company has attempted to identify
important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Eagle Hill Exploration Corporation
Andrew Mugridge / Benjamin Curry
604.764.6847
info@eaglehillexploration.com
www.eaglehillexploration.com


MI3 Communications Financieres Inc. (Montreal)
Nathalie Dion
514.904.1333
nathalie@mi3.ca
www.mi3.ca