Glen Eagle Resources Inc.

Glen Eagle Resources Inc.

June 25, 2013 09:54 ET

Glen Eagle Announces Preliminary Assay Results from its Tailings Project in Nicaragua

MONTREAL, QUEBEC--(Marketwired - June 25, 2013) - Gleneagle Resources Inc. (TSX VENTURE:GER) is pleased to announce assay results from preliminary random sampling of tailings piles in the villages of La Libertad, Chontales, Nicaragua and Santo Domingo, Chontales, Nicaragua. Five random grab samples were taken from La Libertad Pile 1, and one sample was taken from Santo Domingo Pile 2.

The random grab sampling was done as part of an evaluation visit to the tailings piles, which are the subject (La Libertad) of a Licensing Agreement from B2 Gold Inc. For the Santo Domingo historic tailings piles, the Company has an agreement to purchase the tailings on a sliding scale according to the average grade of the tailings piles (see Press Release 30 May 2013).

The results from this first sampling program are as follows:

Sample Sample UTM UTM UTM Elevation Au Ag
No Location Zone Easting Northing m g/t g/t
599751 La Libertad Pile 1 16 P 699592 1350770 481 3.91 19.0
599752 La Libertad Pile 1 16 P 699602 1350786 481 2.76 30.0
599753 La Libertad Pile 1 16 P 699604 1350781 481 3.79 12.5
599754 La Libertad Pile 1 16 P 699618 1350774 481 2.33 14.9
599755 La Libertad Pile 1 16 P 699609 1350777 481 2.21 12.4
4376545 Santo Domingo 16P 708230 1358252 583 6.51 37.1

Samples were transported from the site to ISO/IEC 17025-accredited Agat Laboratories Inc. in Mississauga, Ontario by the QP. Gold content was determined using Fire Assay - Trace Au with ICP- OES finish. Silver content as calculated as part of a 51-element suite using Aqua Regia digestion with ICP/ICPMS finish.

The Company has recently completed a legal topographic survey of all tailings piles in La Libertad and Santo Domingo and will use this information in ongoing works to define volume and grade trends (if any) as exploration proceeds.

Jim Steel MBA P.Geo. is the Qualified Person in the context of NI 43-101 and has reviewed and approved the technical content of this News Release.

"Neither TSX Venture Exchange nor its Regulation 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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