Glen Eagle Resources Inc. — Capital/Financing Update 2023

Aug 10, 2023

PRESS RELEASE

Glen Eagle Resources Announces Debt Settlement

Montreal, Quebec, CANADA – August 10, 2023 – Glen Eagle Resources Inc. (the “ Corporation ”) (TSXV: GER) is pleased to announce that it has completed the settlement of a $100,000 convertible debenture dated July 18, 2020 which matured on July 18, 2023, by issuing 2,720,000 common shares (each, a “ Common Share ”) at a price of $0.05 per Common Share to repay $100,000 in principal (2,000,000 Common Shares) and $36,000 in accrued interest (720,000 Common Shares) (the “ Debt Settlement ”). The Common Shares issued under the Debt Settlement are subject to a hold period of four months and one day pursuant to applicable securities laws.

ABOUT GLEN EAGLE RESOURCES INC.

Glen Eagle Resources Inc. is a small producer and an exploration company of precious metals in Canada and the Central America area.

For more information, please contact:

Karl Trudeau President 1-819-440-8495

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.

FORWARD LOOKING STATEMENTS:

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Corporation. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Corporation does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedarplus.ca) .

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