Drilling has Commenced on Donner #4 Well

February 3, 2014

CSE: HEAT

VANCOUVER, B.C. February 3rd, 2014 – Hillcrest Resources Ltd. (the “Company” or Hillcrest”) (TSX.V : HRH) is pleased to announce the drilling rig contracted with Progress Drilling arrived on site, rigged up and has commenced drilling the previously announced Donner #4 well. As previously announced, Hillcrest Resources Ltd had submitted applications and received approval for two development well locations located within their Newton County leases in Texas. The Company selected these locations based upon review of seismic and well data as well as the production performance of the Company’s two producing wells in the area. Hillcrest has a 60% working interest in the next 2 Donner wells.

Don Currie, CEO and Chairman, states “We are pleased about the drilling on our Donner #4 well starting which will followed with the spud and drilling of the previously permitted Donner #3 well. The drilling and potential completion of the next 2 wells is expected to take approximately 4-6 weeks. We are excited about the potential impact any additional oil and gas production from the Donner #4 and #3 wells could have on Hillcrest Resources Ltd.

The Company has identified at least 5 potential drilling locations in our Newton County leases with potential production capabilities. Our debt facility as well as the receipt of funds from the sale of 50% of our Montana assets has provided Hillcrest with the funds to methodically exploit our acreage as previously described.”

For more information on Hillcrest Resources Ltd, contact Donald Currie toll free at 1-866-609-0006 or visit the Company’s website at www.hillcrestresources.com 

On Behalf of the Board of Directors 

Donald Currie 

Chairman, Chief Executive Officer and Director

FORWARD LOOKING STATEMENT HERE 

Cautionary Statement Regarding “Forward-Looking” Information 

Some of the statements contained in this press 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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