(via Thenewswire.ca)

Montreal, Quebec, November 9, 2011 - Glen Eagle Resources Inc. (TSX VENTURE EXCHANGE: GER) ("Glen Eagle" or the "Company") announces that it is currently proceeding with a non brokered private placement. According to the terms of the private placement, the Company plans to raise up to $2,040,000 by issuing 2,800,000 "Flow Through Common shares" priced at $0.55 for gross proceeds of $1,540,000. An additional $500,000 will be raised in units (The "Units") for working capital purposes by issuing 1,250,000 common shares. Each "Unit" will be comprised on one (1) common share priced at $0.40 and one half common share purchase warrant priced at $0.60. The closing of the private placement is expected to occur on or before December 16, 2011. Commission fees are also applicable.

Most of the proceeds from the private placement will be used for exploration work on the Company's Lac Lisette, Moose Lake and Authier projects in Quebec. After the private placement, the Company will have approximately a net cash balance of $3,000,000.

The private placement is subject to regulatory approval. In accordance with applicable securities legislation, the securities issued in connection with the private placement will be subject to a four-month hold period following the closing of the Offering.

FOR FURTHER INFORMATION CONTACT:

Jean Labrecque, President jl@gleneagleresources.com

Glen Eagle Resources Inc

999 De Maisonneuve West

Suite 725

Montreal, Quebec

Tool free: 1-855-229-4488

Website: www.gleneagleresources.com

"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."

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