Glen Eagle Resources Inc.

Glen Eagle Resources Inc.

May 23, 2013 08:30 ET

Glen Eagle Signs Important Mining Agreements in Nicaragua

MONTREAL, QUEBEC--(Marketwired - May 23, 2013) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce that the Company has reached an agreement in Nicaragua with the Ministry of Mines and Energy through its subsidiary "Sandgold SA" to recuperate the gold from the tailings located in the mining district of Chontales and eliminate the mercury content in the process. Based on the agreement, the Company will not be held liable for any contamination previously done by small miners using mercury amalgamation to extract gold.

Sandgold has also signed an agreement with the Santo Domingo Small Miner's Coop in Chontales to process the gold from their tailings. The grade and volume of these tailings will be evaluated and reported in a timely manner.

Glen Eagle wants to thank the Ministry of Mines in Nicaragua for its unlimited support and professionalism in helping Glen Eagle to advance the project towards its objective.

Nicaragua is a fast growing and stable country and its capital Managua was recently ranked 3rd in the Americas for investment strategy behind Montreal and Toronto, outclassing Chicago and Phoenix who came in 4th and 5th place. The report was published on April 13, 2013 by the Financial Times FDI Intelligence division.

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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