Glen Eagle Resources Inc V.GER

Alternate Symbol(s): GERFF

Metals & Mining Industrial Metals & Minerals

Glen Eagle Resources Inc. is a Canada-based company, which is engaged in the acquisition, exploration and evaluation of mining properties. The Company is engaged in the production of gold and silver from the purchasing and processing of material in Honduras. Its activities also consist of owning mining concessions in Honduras where it intends to proceed with an exploration and evaluation program. Its La Cobra property is composed of one claim covering approximately 775 hectares and located in the Valle Department, Honduras. It has three areas of interest for lithium, in the Lebel-sur-Quevillon area: Lessard property, Perigny property and Nicobi property. The Nicobi property is characterized by a one km long lake-bottom lithium anomalies varying from 33 to 45 ppm of Lithium. The Perigny property is characterized by seven km long lake-bottom lithium anomalies varying from 19 to 26 ppm of lithium. It is also looking for exploration and evaluation activities located in Quebec, Canada.

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Glen Eagle Resources Inc

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Post by rich471on Mar 16, 2011 9:30am

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Post# 18292197

Corporate Update

MONTREAL, QUEBEC--(March 16, 2011) - Glen Eagle Resources Inc. (TSX VENTURE: GER "Glen Eagle Resources" or the "Company") has received from Multi-Ressources Boréal an option to acquire 10 additional claims on the Lac Lisette Phosphate property project for a total of 159 claims. A work commitment over the next three years totalling one million dollars almost equally divided is attached to the option agreement and completes the terms of the agreement as stipulated in the March 8 press release.

The Company will now have two projects to advance in key sectors of the economy namely in lithium and phosphate which is a major component in fertilizers.

A third project will be under development through its Souart gold property which the Company has optioned to Key Gold (TSXV: KGH). The transaction is expected to receive the TSX approval once Glen Eagle has received its 43-101 report on the Authier Lithium project. The report is expected before the end of the month. Upon acceptance by the TSX, Key Gold will issue 750,000 shares and make a $40,000 payment to Glen Eagle. If the option is exercised, Glen Eagle will receive over a three year period four million shares of Key Gold and $490,000 in cash payment.

FOR FURTHER INFORMATION CONTACT:

Jean Labrecque, President jl@gleneagleresources.com

Glen Eagle Resources Inc

999 DeMaisonneuve West

Suite 725

Montreal, Quebec

Tel: 514 938-4888

Website: www.gleneagleresources.com

François Marcotte

Consultant & Investors Relations

Tel: 450-536-0279

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