Glen Eagle Resources Inc.
TSX VENTURE : GER

Glen Eagle Resources Inc.

February 15, 2011 08:45 ET

Glen Eagle Resources Inc.: New Authier Lithium NI 43-101 Compliant Resource Estimate 40% Above Historic

MONTREAL, QUEBEC--(Marketwire - Feb. 15, 2011) - Glen Eagle Resources Inc. (TSX VENTURE:GER) "Glen Eagle Resources" or the "Company") is pleased to announce a new NI 43-101 compliant mineral resource estimate for the Authier Lithium Property. The mineral resource estimate, using a base case cut-off grade of 0.8% Li2O, totals 4,167,000 tonnes grading 1.04% Li2O in the indicated resource category with an additional 2,290,000 tonnes grading 1.00% Li2O in the inferred resource category.

It is an important milestone for the Company to have a NI 43-101 compliant resource estimate for the Authier Lithium Property which is strategically located 45 km NW of Val d'Or in the Province of Quebec. It confirms an approximately 40% increase over the historic resource estimate when converted into metric tonnes.

SUMMARY OF THE AUTHIER LITHIUM PROPERTY MINERAL RESOURCE ESTIMATE

Resource Category Cut-off Tonnes* Grade
  (%Li2O)   (%Li2O)
       
Indicated 0.80 4,167,000 1.04
Inferred 0.80 2,290,000 1.00

*Rounded to nearest thousand. Effective date February 11, 2011. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

The base case cut-off has been defined using a conceptual economic model based on a 2,500 tpd open pit mining and concentration scenario to produce a 6% Li2O spodumene concentrate. The mineral resources were evaluated using analytical results from recent diamond drill holes completed by Glen Eagle Resources Inc. and from historical drill holes completed since the 1960's by different operators on the project. A total of 72 drill holes were used to complete the mineral resources. The mineral resource estimate was completed using a 3-dimension wireframe modeling followed by block model interpolation methodology. The mineral resource model was interpreted form transverse sections distant between 12.5 m to 25 m from each other. The block model was defined by block size of 5 m long by 5 m wide by 5m thick and covers a strike length of 720 m to a maximal depth of 155 m below surface. The interpolation process was conducted using Ordinary Kriging using assay composites of 3 m in length. The mineral resources were modeled and estimated using the software SectCad version 5.5.15. No capping was applied to the assays. Results are presented undiluted and in-situ. A bulk density of 2.71 t/m3 was used to calculate tonnages from the volumetric estimates of the mineral resources block model. The bulk density used is an average of 38 specific gravity measurements taken from core samples.

The current mineral resource estimate was completed by André Laferrière, M.Sc. P.Geo, from SGS Canada Inc. (Geostat), independent Qualified Person under NI43-101 guidelines using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council on December 11, 2005. The effective date of the mineral resource estimate stated in this document is February 11, 2011.

Additional drilling results from the current 4,000 meter drilling program are expected to be released shortly with an ongoing flow of data to follow over the next few months.

The content of this news release has been reviewed by Gilles Laverdière and André Laferrière; both are qualified persons according to the NI 43-101 disclosure standards.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release"

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