Montreal, Quebec, May 17, 2011 – Glen Eagle Resources Inc. (TSX VENTURE EXCHANGE: GER) (“Glen Eagle” or the “Company”) is pleased to announce that an helicopter-borne magnetometer survey has been completed over the Lac Lisette phosphate property. The survey aims at identifying magnetic units containing the phosphates. It also marks the beginning of a geological program that the Company has set out to do on the property. The Company expects to receive a preliminary interpretation report of the survey before the end of the month with the final report to be completed sometime in mid June.
A total of 400 km linear has been flown over the known magnetic anomaly. The flight grid is 12 km long by 3 km wide with lines spaced at 100 m. The survey will be flown at a 30 m altitude. Differential GPS measurements will give a better than 2 m horizontal precision. The survey will also be instrumental in eliminating most of the high cost associated with ground surveys while accelerating development of the property.
About the Lac Lisette property
The property is underlain by the Lac-St-Jean anorthosite intrusive complex. Two grab samples in a magnetite layer of the intrusive complex have returned 7.2% and 7.5% P205 (phosphate), 11% titanium oxide and 60% iron oxides (Fe203). A large airborne Mag anomaly covers most of the property. The Mag anomaly is 12 km long and seems to coincide with the magnetite layer and suggest a strong continuity for the phosphate bearing lithology.
Gilles Laverdière, P.Geo., a qualified person according to the NI 43-101 disclosing standards, is supervising the drilling program and has reviewed and approved the technical content presented herein.
FOR FURTHER INFORMATION CONTACT:
Jean Labrecque, President jl@gleneagleresources.com
Glen Eagle Resources Inc
999 De Maisonneuve West
Suite 725
Montreal, Quebec
Tel: 514 938-4888
Website: www.gleneagleresources.com
