Eaglecrest Changes Name to Colombia Crest Gold Corp.

   EAGLECREST EXPLORATIONS LTD. ("Eaglecrest"; the "Company") (TSX VENTURE: EEL)(PINK SHEETS: ECRTF)(FRANKFURT: EAT) is pleased to announce that pursuant to a resolution passed by the directors on January 4, 2011, Eaglecrest Explorations Ltd. has changed its company name to Colombia Crest Gold Corp. to emphasize its new direction and focus on its exploration properties in Colombia, South America; specifically, the Company will focus on discovery of porphyry-related gold-copper resources within the Middle Cauca Belt, one of the most prolific gold belts in Colombia.

The name and stock symbol change became effective at market open on Monday February 14, 2011, whereby the common shares of Colombia Crest Gold Corp. (TSX VENTURE: CLB) commenced trading on the TSX Venture Exchange in place of the common shares of Eaglecrest Explorations, which will be delisted. Shareholders of Eaglecrest Explorations Ltd. will receive a 1:1 share in Columbia Crest Gold Corp. There is no consolidation of capital or shares.

"We are pleased with the name change to Colombia Crest Gold as it emphasizes our focus on the search for world-class gold resources in Colombia, a hot new area in the world with tremendous geologic potential, no modern exploration, and where safety and infrastructure have been dramatically improved in the past decade," commented Hans Rasmussen, Colombia Crest's President and CEO. "Also, despite the strong focus on Colombia, our San Simon project remains an important asset but we have moved the project to a lower priority until the market appreciates the significance of our work in Bolivia."

About Colombia Crest Gold Corp.

Colombia Crest Gold Corp is focused on systematically exploring its promising new gold projects in Colombia as well as realizing the potential of its 100 percent-owned San Simon project in Bolivia. Industry experts with three decades of gold discoveries head up both the management and technical teams at Colombia Crest Gold. Along with a strong working capital position, the Company will accelerate the exploration programs at the Fredonia and Venecia projects in Colombia where it has optioned over 15,000 hectares located in the Cauca River Valley. Situated approximately 40 km south of the city of Medellin, in Antioquia Province, the properties are positioned within the Middle Cauca Belt, which is the most prolific gold belt of Colombia with more than 500 years of gold mining history and a several new gold discoveries.

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Please visit the Company's website at www.ColombiaCrestGold.com.

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Eaglecrest Explorations Ltd. Hans Rasmussen President and CEO Office: 604-684-7160 [e-mail] www.ColombiaCrestGold.com Progressive Investor Relations Benjamin Curry Direct: 604-689-2881 [e-mail]