from SA:CAWe have been involved in the development of Eagle Hill's Windfall Lake Project and the surrounding gold camp for approximately 20 years and are excited to see the project getting closer to being a producer," said Ned Goodman, President and CEO of Dundee Corporation. "We are excited to continue to support Eagle Hill and believe the high-grade Windfall Lake mineralization has very good potential to grow well beyond the current resource."
Southern Arc's Chairman and CEO, John Proust, stated: "This new Canadian investment is consistent with Southern Arc's previously announced strategy to diversify, protect and promote shareholder interests through participation in advanced-stage gold projects in favourable jurisdictions outside of Indonesia. Windfall Lake is a strategic addition to our project portfolio that we believe can be rapidly advanced.
"The Southern Arc and Dundee partnership will provide the financial strength, expertise and leadership to unlock the value of this property," continued Mr. Proust. "Commencing in September 2013, over a 12 to 18 month period Eagle Hill will execute a major new drilling program focused on extending the resource base at Windfall Lake and upgrading the status of the Inferred Resources."