Glen Eagle Resources Inc.

Glen Eagle Resources Inc.

January 08, 2013 08:45 ET

Glen Eagle Intercepts 61 Meters P205 Grading 5.7% at Moose Lake

MONTREAL, QUEBEC--(Marketwire - Jan. 8, 2013) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to report the early results of the drilling program (2200 meters) carried out last fall on its Moose Lake phosphate project. The Company drilled 43 holes in 2012 for a total of 4559 meters. The drill holes were positioned on a 100 x 100 meters grid and generally reached a depth of 100 meters. The drill program was designed to test the continuity of the deposit and was able to delineate a phosphate-rich ferrogabbro over 1.1 km in strike (East-West direction) and to a down dip length of 300 meters (North-South).

Drill holes LO-12-25 and LO-12-26 were located at the west end of the deposit. The results are reported below and continue to show that a strong mineralization is still present in the East/West axis with grade improving at depth. Drill holes LO-12-29 and LO-12-30 were testing the mineralization in the North/South axis. To the exception of the South zone, the deposit still remains open in all directions and at depth.

Hole # From
LO 12-25 41.0 102.0 61.0 5.7
incl 90.5 99.5 9.5 7.5
LO-12-26 31.5 99.0 67.5 4.4
Incl. 60.0 99.0 39.0 5.2
LO-12-29 60.0 102.0 42.0 3.6
LO-12-30 61.5 102.0 40.5 4.3

Hole LO-12-40 was placed on a high elevation and did not intercept mineralization probably due to its short length.

In order to facilitate a better understanding of its projects, the Company is waiting for the release of the PEA report on the Authier Lithium project (expected very shortly) to update its website with the latest data received on Moose Lake and Authier.

Gilles Laverdière, P.Geo., a qualified person according to the NI 43-101 disclosing standards, is supervising the drilling program and has reviewed and approved the technical content presented herein.

"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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