[Marinir] {Disarmed} Hillcrest (TSX-V: HRH) Increases Position in the Emerging Bakken Play in Western Montana

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http://www.hillcrestresources.com/ 

Hillcrest Resources Ltd. Increases its land position in the emerging 
Bakken play in Western Montana 

Hillcrest Resources Ltd. (TSX.V: HRH 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=HRH&region=C&lookup=symbol&snapshot=default 

) is pleased to announce that the Company has increased its land 
position in the emerging Bakken play in western Montana to approximately 
27,000 acres following the closing of the purchase of 12,333 acres in 
Teton and Pondera Counties, Montana from Bakken Oil Holdings LLC 
("Bakken") , a Montana limited liability company. 

As previously announced on December 1, 2011, Hillcrest entered into a 
purchase and sale agreement (the "Original Agreement") to acquire all of 
Bakken's legal and beneficial right, title and interest in and to 
certain oil and gas properties in Teton and Pondera Counties, Montana 
including all oil and gas leases, all geological data (including all 
seismic data) and copies of all records with respect to such oil and gas 
properties (collectively the "Properties). 

Hillcrest paid an aggregate of $375,000 under the Original Agreement by 
way of three installments of $125,000, the last being paid on February 
1st of 2012. Subsequent to such payments, Hillcrest and Bakken agreed to 
terminate the Original Agreement. 

Effective July 5, 2012, Hillcrest and Bakken entered into a revised 
purchase and sale agreement (the "New Purchase Agreement") with respect 
to the Properties. The closing of the transactions contemplated in the 
New Purchase Agreement result in Hillcrest becoming the sole owner of 
the Properties for no further cash outlay. 

Pursuant to the terms of the New Purchase Agreement, the Company 
acquired all of Bakken's legal and beneficial right, title and interest 
in the Properties. As consideration for the acquisition of the 
Properties, the Company transferred to Bakken all ownership and title, 
including any equipment and production of Hillcrest's 640 acre Tulla 
property located in Pondera County (the "Tulla Property"). 

Hillcrest previously announced the purchase of the Tulla Property in 
November, 2011 (40 acres) and February, 2012 (600 additional acres). The 
Company paid $350,000 for the 40 acre parcel and issued 2 million common 
shares as consideration for the 600 acre parcel. 

Don Currie, CEO and Chairman, states "The closing of the newly 
negotiated Bakken transaction is a tremendous step forward for our 
Company. The Company now has closed on, and controls, approximately 
27,000 acres of fully paid leases. There are no minimum exploration 
conditions on any of the leases, and 86% of the acreage is fully paid 
with no yearly payments due until mid 2016. Transferring 640 acres for 
the ownership of 12,333 acres of potentially productive, multi-target 
Southern Alberta Basin Bakken land is consistent with the growth 
strategy in place for Hillcrest." 

Hillcrest's position in Montana is secure. The Company intends to plan 
and implement a seismic acquisition and drilling program that will take 
place over the next 12 months. The relatively substantial acreage 
position that the Company now controls also provides Hillcrest with the 
opportunity to follow up on any announced successful exploration efforts 
within this emerging energy corridor. While the exploration program is 
being developed and implemented, the Company will actively pursue 
potential joint venture or other working relationships with other 
exploration and development companies interested in the area's 
potential. 

For more information on Hillcrest Resources Ltd, please contact Donald 
Currie toll free at 1-855-609-0006 or visit the Company's website at 
www.hillcrestresources.com 

http://www.hillcrestresources.com 

. 

ON BEHALF OF THE BOARD OF DIRECTORS 

Donald Currie 

Chairman, Chief Executive Officer and Director 

Cautionary Statement Regarding "Forward-Looking" Information 

Some of the statements contained in this news release are 
forward-looking statements and information within the meaning of 
applicable securities laws. Forward-looking statements and information 
can be identified by the use of words such as "expects", "intends", "is 
expected", "potential", "suggests" or variations of such words or 
phrases, or statements that certain actions, events or results "may", 
"could", "should", "would", "might" or "will" be taken, occur or be 
achieved. Forward-looking statements and information are not historical 
facts and are subject to a number of risks and uncertainties beyond the 
Company's control. Actual results and developments are likely to differ, 
and may differ materially, from those expressed or implied by the 
forward-looking statements contained in this news release. Accordingly, 
readers should not place undue reliance on forward-looking statements. 
The Company undertakes no obligation to update publicly or otherwise 
revise any forward-looking statements, except as may be required by law. 

Neither TSX Venture Exchange nor its Regulations 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. 

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