Glen Eagle Resources Inc.
TSX VENTURE : GER

Glen Eagle Resources Inc.

January 05, 2011 08:30 ET

Glen Eagle Resources Inc.: New Lithium-Bearing Pegmatite Horizon Discovered on Authier

MONTREAL, QUEBEC--(Marketwire - Jan. 5, 2011) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce that, following the completion of a magnetometer survey and interpretation of historical drill holes, a new lithium-bearing pegmatite horizon extending over a length of 2.2 km was discovered on the Authier property. The main pegmatite holding the actual deposit has been drilled historically over a limited strike length of 600 meters. Furthermore, the survey also showed that the main pegmatite drilled last fall occurs on the north limb of a peridotite intrusion within a low magnetic unit that crosses the property over a similar length.

Two historical holes drilled 1,000 meters apart intersected 5 and 10 meters of pegmatite containing 5 to 30% spodumene. A pegmatite zone of at least 200 meters in length was also found on surface at approximately 250 meters east of one of the holes. The magnetic survey also shows that these new pegmatites seem to occur on the north limb of peridotite intrusions. The survey also revealed many of these intrusions on the property.

A 4,000 meter drill program is scheduled to start in mid January to expand the known resources of the main pegmatite and part of the program will verify the potential of this new discovery.

Gilles Laverdière, P.Geo., a qualified person according to the NI 43-101 disclosing standards, 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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