Glen Eagle Closes Private Placement

MONTREAL, QUEBEC--(Marketwired - Dec. 23, 2015) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce the closing of a non-brokered private placement at a price of $0.05 cents per Unit, each Unit being comprised of one (1) common share and one half (1/2) common share purchase warrant at an exercise price of $0.10 per warrant share valid for a period of 24 months following the Closing Date. The total proceeds of the "Offering" ($125,000) for which no commission was paid will be allocated to complete the very last technical details of the cyanide circuit at its Cobra Oro plant in Honduras and for working capital purposes. As a result, 2,500,000 common shares were issued by the Company.

All securities issued pursuant to the Offering are subject to a hold period ending on April 24, 2016. As a result of the issuance of the securities, the Company has 71,828,108 common shares issued and outstanding.

Neither the 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.