Eaglecrest Announces Increase of Non-Brokered Private Placement to US$2,503,450

VANCOUVER, BRITISH COLUMBIA, Jun 26 (MARKET WIRE) --
Eaglecrest Explorations Ltd. (TSX VENTURE: EEL)(FRANKFURT: EAT) is
pleased to report that the amount proposed to be raised pursuant to the
non-brokered private placement announced December 22, 2008 has been
increased from US$1,500,000 to US$2,503,450.

The Company announced on March 30, 2009 that the first tranche of
10,069,000 units had been fully subscribed for a total issue price of
US$503,450. Due to increased demand, the Company now proposes to increase
the private placement by up to a further 40,000,000 units, to raise up to
an additional US$2,000,000.

Each unit will be comprised of one common share and one full warrant,
with each warrant exercisable to purchase one additional common share in
the capital of the company for US$0.10 until 4:30 p.m. ET on that day
which is 12 months after the date of acceptance of the private placement
by the TSX Venture Exchange. The proceeds will be used to continue the
Company's infill and delineation drilling program at its San Simon gold
project in Bolivia.

"This financing provides us with sufficient exploration funding to
continue our district-wide mapping and sampling program at the San Simon
project until the first quarter of 2010," said Hans Rasmussen, President
and Chief Operating Officer. "We are very excited about the new
high-grade sample results we announced on June 8, 2009 from the
seven-kilometre long Paititi-Buriti trend. This increased financial
commitment from our shareholders demonstrates their dedication to the
continued success of our exploration team in finding these new gold
zones, which will add value to the already-drilled, gold-rich
Trinidad/Mina Vieja Zone."

The Company has also arranged to settle an arm's length debt in the
amount of US$600,000 by issuing 12,000,000 units having the same terms as
the private placement units. The debt settlement is expected to be
completed concurrently with the private placement.

All shares issued in conjunction with the private placement and debt
settlement, and any shares issued on exercise of warrants, will be
subject to a four-month hold period in Canada. Finder's fees are payable
in conjunction with a portion of the private placement in accordance with
the policies of the TSX Venture Exchange. Completion of the private
placement and debt settlement are subject to acceptance of filings
respecting same by the TSX Venture Exchange.

About Eaglecrest

Eaglecrest Explorations Ltd. is conducting an advanced exploration
project on its San Simon gold property, which is situated in the
Precambrian Amazon Basin shield. The Company controls mineral rights that
cover nearly 300 square kilometres on the San Simon Plateau 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 the San Simon gold project.

On behalf of the Board of Directors,

Hans Rasmussen, President and Chief Operating Officer

Additional information on the company's project is available on our
website at www.eaglecrestexplorations.com; the SEDAR website (securities
related information electronic filed with the Canadian securities
regulatory authorities) www.sedar.com; or, by contacting: Paul Zdebiak at
604-687-7272; e-mail: info@eaglecrestexplorations.com.

This news release may contain forward-looking statements including but
not limited to comments regarding the timing and content of upcoming work
programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. Forward-looking statements
address future events and conditions and therefore, involve inherent
risks and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.

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.

Contacts:
Eaglecrest Explorations Ltd.
Paul Zdebiak
604-687-7272
info@eaglecrestexplorations.com
www.eaglecrestexplorations.com

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