Glen Eagle Resources Inc.

Glen Eagle Resources Inc.

December 23, 2010 09:00 ET

Glen Eagle Closes Previously Announced Private Placement

MONTREAL, QUEBEC--(Marketwire - Dec. 23, 2010) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce that it has closed, as previously announced in a December 10 news release, a non-brokered private placement of $499,000 by issuing 1,996,000 flow through shares without warrants.

All of the proceeds will be used for exploration work on the Company's Authier Lithium Project in Quebec.

In connection with the private placement, 77,600 broker warrants were issued along with $19,400 in commissions to one subscriber. The broker warrants are exercisable into common shares of the Company at $0.25 per share and expire 2 years from closing.

In accordance with applicable securities legislation, the securities issued in connection with the private placement will be subject to a four-month hold period following the closing of the Offering.

"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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