Glen EagleGlen Eagle Expands Gold Processing Plant in Honduras

 

MONTREAL - Glen Eagle Resources Inc. reported that the Company is currently ordering all the necessary parts and equipment to expand Cobra Oro's gold processing plant in Honduras with the objective to reach a potential throughput capacity of 150 tonnes per day.

The agreements recently signed with several groups of local miners to supply Cobra Oro's plant for the next three years have contributed to make the decision on a risk adjusted basis along with the fact that the Company will continue to access for the coming year the same source of mineral supply that has been feeding its processing plant since inception.

To support the expansion program and assume full ownership of its operations located within a free trade zone, Cobra Oro is in progress of purchasing the land currently under rental. The plant is debt free and 100% owned by Glen Eagle.

Gilles Laverdiere, P.Geo., a qualified person under NI 43-101 has approved the content presented herein.