The Eagle Hill news release in June says something different than that.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 20, 2012) - (TSX VENTURE:EAG)(FRANKFURT:EH0)(OTCQX:EHECF) Eagle Hill Exploration Corporation ("Eagle Hill" or the "Company") is pleased to announce that, pursuant to the terms of an option agreement dated July 20, 2009 (the "Option Agreement") with Noront Resources Ltd. (the "Optionor"), the Company has completed the expenditures and payments required to be made to the Optionor as consideration for the exercise of the option to acquire a 75% interest (the "75% Option") in and to the Optionor's portion of the Windfall Lake Property (the "Property"). The exercise of the 75% Option has triggered deliverables from both parties and the Company is currently in discussions with the Optionor on finalizing the necessary steps to complete the obligations under the Option Agreement. The deliverables include the following items:

• The Company has one year from April 20, 2012, to either complete a bankable feasibility study demonstrating a minimum after tax internal rate of return of 15% on the Property or give notice to the Optionor of its commitment to cause the Commencement of Commercial Production from the Property (which notice shall specify the number of tons of proven and probable ore reserves on the property at the time estimated by the Company and the anticipated annual rate of production). If the Company does not deliver the above within the specified time frame the Optionor has the option to purchase back the Company's 75% interest in the property for the lessor of i) an amount equal to the expenses incurred by the Optionee and ii) $6 million;
• Formation of a Joint Venture Agreement with the Optionor; and
• Transfer of the titles to the Company.

The Company is working closely with its technical advisors to fulfill the remaining obligations under the Option Agreement and will make further announcements in this regard as the Company's plans develop.