Since taking over the Company as President five years ago, I promised myself from the very beginning that I would do my very best to avoid diluting our shareholders.

My approach has always been to cut our losses short and avoid going into long and costly exploration programs where the risks/reward ratio was too high. As my focus over the years started to shift more and more towards producing properties, I knew that with patience, the right opportunities would come.

Today, Glen Eagle Resources, with its new acquisitions in South Africa is about to embark on a new journey which I hope will be a very successful one.

In the last five years, Glen Eagle has issued less than 10 million shares. I would like to move forward with the same strong anti dilutive philosophy which has governed our Company, something that can be achieved only through sound management practices.

Today, Glen Eagle Resources has 27 million shares outstanding and fully diluted. Keeping this in mind and knowing that our Company has so much going for itself now, I am very confident that our current and future shareholders will be well rewarded for their patience.

Jean Labrecque
President and Chief Executive Officer

Gaz Gold mine was an underground mine in operation for 18 years from 1975 to 1993. The mine dumps are known to contain approximately 18 million tons of ore, grading on average 3,0 grams per ton gold based on the data available at the Department of Minerals and Energy (DME) of South Africa. The dumps are easily accessible with nearby milling facilities capable of processing 2000 tons/day once the mill is fully operational. Electricity, water and other infrastructures are readily available. Glen Eagle objective is to commence immediately a 43-101 compliant due diligence on the processing of the tailings and arrangements are being made to have a qualified geologist on the property next week. Commercial production is expected to commence within three months following the completion of the study. Barak Mineral will be the operator of the mining and processing operations.

Note: The technical data presented in the above paragraph concerning grade and tonnage are considered historical and are not compliant with the current international reporting standards presently accepted. The data is presented only as an indication of the potential of the property and the qualified person has not yet done sufficient field work to classify the historical estimate as current mineral resources and the historical estimate should not be relied upon. The feasibility study has not yet been completed to determine the production cost and there is no certainty the proposed operation will be economically viable.

The property is located 40 kilometres east of Lebel-sur-Quevillon and precisely 15 kilometres south east of Noront Resources (TSX.V:NOT). Please follow this link for a detailed map of the Souart property.

Estimated resources of approximately 110,000 oz @ 6.17 g/t Au are based on 35,000 meters of drilling. Most of the ore body is found at a depth of between 50 and 200 meters.

149,078 t @ 6,36 g/t Au for the zone A in the probable and possible category.

228,547 t @ 7,56 g/t Au for the zone B in the probable and possible category.

158,275 t as potential reserves in zone A+B combine.

Recommendations, according to the report, were to drill for possible extensions of zone A and B.

A number of 54 vertical drill holes were recommended, representing 25,650 meters of drilling in order to intercept these possible extensions of zone A and B within the specifics as stated above.

100% Souart

26% Gaz Gold

PS I'll keep watching u with growing interest

Regards! Tec