MONTREAL, QUEBEC–(Marketwired – Aug. 25, 2016) – Glen Eagle Resources Inc. (TSX VENTURE:GER) (“Glen Eagle” or the “Company”) is pleased to announce that it has secured two more sources of mineral supplies following agreements signed between Cobra Oro and two newly added groups of small miners. Cobra Oro will pay approximately 30% of the gold content delivered on site which has averaged just over 10 grams gold per tonne since the agreement was signed, meeting the minimum grade requirements as per the agreement. The Company has now four sources of mineral supplies including the open deposit where most of its feed was being hauled for the past year.
Cobra Oro is also negotiating with several other mining groups in an effort to secure ample supplies to feed a bigger plant capable of processing 120 tonnes per day which will imply to ramp up its current operations by purchasing large equipment parts, something the Company intends to do in the very near future.
Gilles Laverdiere, PGeo, a qualified person under National Instrument 43-101 has approved the content presented herein.
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