Glen Eagle Resources Inc.

Glen Eagle Resources Inc.

December 10, 2010 09:35 ET

Glen Eagle Resources Inc.: Private Placement

MONTREAL, QUEBEC--(Marketwire - Dec. 10, 2010) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") announces that it is currently proceeding with a non brokered private placement priced at $0.25 per Flow Through common shares. According to the terms of the private placement, the Company plans to raise up to $500,000 by issuing 2,000,000 Flow Through Common shares. No warrants shall be issued. The closing of the private placement is expected to occur on or before December 23, 2010.

All of the proceeds from this private placement will be used for exploration work on the Company's Authier Lithium project in Quebec.

The private placement is subject to regulatory approval. 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. Finder's fees may also be applicable.

On another matter the Company expects to release several drill results early next week.

"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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