GER:CC - Glen Eagle Reporting on Moose Lake Phosphate Project

(TheNewswire)

Montreal, Quebec, CANADA – TheNewswire - August 10 , 2022 – Glen Eagle Resources Inc. (the “ Corporation ”) (TSXV:GER) announced on June20, 2022 that it had entered into an optionagreement with an unlisted reporting issuer (referred to as the“Optionee”) t o acquire a 100% interest in the Moose Lake phosphate projectlocated in the Province of Quebec. The Optionee’s name was notmentioned at the time.  Glen Eagle can now confirm that the Optioneeis First Phosphate Corp, a non-listed but compliant reportingissuer which is planning to go public in thenear future.

Glen Eagle further announces that the first payment of$500,000 dollars under the Option Agreement has been made by FirstPhosphate Corp. Two more payments of the same amount are due onOctober 17, 2022 and on February 17, 2023. The Company remainsconfident that the transaction will be highly beneficial to itsshareholders based on 6,000,000 shares that the Company will retainwithin First Phosphate, the strength of its management team and theirrecent achievements since optioning Moose Lake.

The Company’s shareholders can follow First Phosphaterecent achievements and reading their investors presentation at www.firstphosphate.com

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ABOUT GLEN EAGLE RESOURCESINC.

Glen Eagle Resources is a smallgold producer and exploration company operating a gold processingplant in Honduras.

For more information, pleasecontact:

Jean Labrecque
President, Glen Eagle Resources
1-514-808-9807

Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.

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