Eagle Hill Grants Stock Options
VANCOUVER, BRITISH COLUMBIA, Nov. 3, 2009 (Marketwire) -- Eagle Hill Exploration Corp. ("Eagle Hill" or the "Company") (TSX VENTURE:EAG) The Company is pleased to announce that it is issuing incentive stock options to various directors, officers and consultants for the Company, in accordance with the Company's Stock Option Incentive Plan. The Company is proposing to issue 3,950,000 stock options at exercise price of $0.20 per common share, exercisable for a period of five (5) years (the "Options"). Of these Options, 800,000 Options have been granted to Director and Chief Executive Officer P. Bradley Kitchen, 600,000 to Director and Chief Financial Officer Cale Thomas, 400,000 to Director Jason Scharfe, 600,000 to Director Andre Tessier, 400,000 to Director Dan Hachey and 200,000 to Corporate Secretary Amandeep Rai. At the time of grant, Eagle Hill has 51,641,659 common shares issued and outstanding.
Eagle Hill is also pleased to announce that 975,000 of the Company's previously granted stock options have been exercised by the optionees at an exercise price of $0.10 per common share. With the exercising of these options, there remain no $0.10 options outstanding.
The Company would also like to issue a correction from our news release of October 13, 2009. The 29 Windfall Lake Property claims the Company has acquired from Murgor Resources Inc. and Freewest Resources Canada Inc. will require an Initial Cash Payment of $300,000 on or before October 31, 2009, not the announced October 31, 2010 date.
The issuance of the Options is subject to TSX Venture Exchange approval.
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 and precious metal 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 contain high grades and large tonnage 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 OF DIRECTORS
P. Bradley Kitchen, President, CEO, and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: Marketwire Canada (November 3, 2009 - 12:17 AM EST)
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