GERFF - Corporate Update
(TheNewswire)
MONTREAL - TheNewswire- September 16, 2021 - Glen Eagle Resources Inc.(TSXV:GER) (OTC:GERFF) (or"the Company") is pleased to announce that the appointment of Karl Trudeau as ChiefOperating Officer (COO) has already brought major changes at Cobra Orogold processing plant, Cobra Oro being a wholly owned subsidiary ofthe Company.
Karl was instrumental in bringing a full time Canadian mechanic andpart time metallurgist to address technical problems at the plant. Asa result, Cobra Oro has witnessed over the last six weeks an importantturn around in reliability with no mechanical failures as the companywas slowly restarting its operations and reviewing its productionprocedures and preventive plan. Early indicators are showing that goldand silver recovery are also improving substantially.
Karl was instrumental in bringing long term investors in the latestprivate placement which was closed on September 13, 2021. Among theparticipants were two international providers of services to themining industry taking 30% of the allotment in each of the last twofinancing rounds.
Jean Labrecque, President of Glen Eagle noted “Our management teamis dedicated more than ever to make our operations profitable inHonduras and eventually be independent of outside ore suppliers byaccessing our own mining concession La Cobra, one of the richest inHonduras.”
The Company is currently improving a back mountainroad in concert with the local community to gain access to an ore bodywhich has allowed Cobra Oro to receive good grade ore over the lastfew weeks while exposing in the process excellent drilling targets. Apotential Joint Venture with the land owner is currently beingdiscussed.
Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease.
Jean Labrecque,
President
Glen Eagle Resources Inc
2075 Victoria Street. Suite 201
St-Lambert, Québec
J4S- 1H1
514-808-9807
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