In Ecplise, right Click on project -> Properties -> C\C++ Build -> Tool Chain Editor. In the 'Current Builder' select box, select 'Gnu make builder' -> Apply (or Ok).
Try building the project again.
If you've exhausted all other options try using the gcc make tool directly:
1) Open the command line
2) cd to the folder containing the Make files (i.e. # cd 'C:\Path\To\MakeFile')
3) Assuming you have a typical MINGW windows install, run the command # C:\MinGW\bin\mingw32-make.exe all
4) the above command can be shorter if you have the MinGW folder set as a path variable.
5) The output binaries should be found in the bin folder in the same location.
Hope this helps anyone.