Eagle Hill Second Quarter Financial Results - Seite 3

During the summer of 2014, the Company has planned a 2,800-metre drill program targeting the extension of Zone 27 to the northeast below the Red Dog intrusion. Eagle Hill plans to deepen six existing drill holes in a target zone that is currently untested. Using existing holes to reach the target zone will reduce drilling costs and also allow the target zone to be reached more quickly. The Board of Directors has also approved an additional hole-to-hole IP survey to further define drill targets at depth. Geological studies indicate that the gold mineralization hosted by Zone 27 and the Caribou Zone may have been displaced as much as 600 metres below the Red Dog dike, which coincides with the IP anomaly identified below Red Dog. The Fall 2013 drilling program confirmed continuity of gold mineralization below the Red Dog intrusion and delineated an inferred mineral resource of 455,000 tonnes at a grade of 8.21 g/t gold for 120,000 contained ounces of gold, highlighting the potential to increase the mineral resource below the Red Dog intrusion.

Preliminary Economic Assessment Study

On June 24, 2014, Eagle Hill announced that the Company plans to initiate a Preliminary Economic Assessment Study ("PEA") for the Windfall Lake Property. The environmental, engineering and economic studies associated with a PEA will provide further clarity on the potential of advancing the Windfall Lake Property to production. The Board of Directors has appointed Paul-Henri Girard as the lead director to manage the PEA process. Mr. Girard is a Mining Engineer with extensive hands-on experience planning and operating Canadian mines. Mr. Girard started his career with Falconbridge Copper as a mining engineer in 1980, and moved to Agnico Eagle Mines Ltd. in 1987 as Chief Engineer of LaRonde Mine in Quebec. Mr. Girard held increasingly senior positions with Agnico Eagle over a 25-year period, eventually retiring from the position of Vice President Canadian Operations in 2012.

On Behalf of the Board of Directors

"John Proust"

Interim Chief Executive Officer

About Eagle Hill Exploration Corporation

NZEC is an oil and natural gas company engaged in the production, development and exploration of petroleum and natural gas assets in New Zealand. NZEC's property portfolio collectively covers approximately 1.15 million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand's North Island. The Company's management team has extensive experience exploring and developing oil and natural gas fields in New Zealand and Canada, and takes a multi-disciplinary approach to value creation with a track record of successful discoveries. NZEC plans to add shareholder value by executing a technically disciplined exploration and development program focused on the onshore and offshore oil and natural gas resources in the politically and fiscally stable country of New Zealand. NZEC is listed on the TSX Venture Exchange under the symbol NZ and on the OTCQX International under the symbol NZERF. More information is available at www.newzealandenergy.com or by emailing [e-mail].