Glen Eagle Resources Inc.

Glen Eagle Resources Inc.

July 09, 2015 08:45 ET

Glen Eagle's Processing Plant in Honduras Generates Cash Flow

MONTREAL, QUEBEC--(Marketwired - July 9, 2015) - Glen Eagle Resources Inc. (TSX VENTURE:GER) ("Glen Eagle" or the "Company") is pleased to announce that Cobra Oro's processing plant in Honduras has been cash flow positive for the last few weeks by processing 24 hours per day on a continuous basis. The cash flow generated by the company's operations in Honduras will be released in the next quaterly financial statement.The processed mineralized material was within expectations by averaging 6 grams gold per tonne and 120 grams silver per tonne while the daily plant throughput and recovery can be improved substantially.

The company is currently expanding by 30% the floor space at the processing plant to accommodate more equipment and increase production. Management will remain very focussed and dedicated to pursue and improve on that goal.

Our current success is also due to the strong and ethical support that Cobra Oro has received from the Ministry of Mines in Honduras (INHGEOMIN). The company wants to thank the Ministers and professionnals who were involved in the permitting and licencing of the plant.

Gilles Laverdiere, P.Geo., a qualified person under NI 43-101 has approved the technical content presented herein.

Neither the 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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