Glen Eagle Acquires One of the Most Sought After Mining Concessions in Honduras

MONTREAL, QUEBEC--(Marketwired - May 17, 2017) - Glen Eagle Resources Inc. (TSX VENTURE:GER) is pleased to announce that Cobra Oro, a wholly owned Honduran subsidiary of Glen Eagle, has acquired "La Cobra," known locally as one of the best mining concessions in Honduras. The property is located near the Pan-American highway and lies approximately 45 minutes from its milling facility. The "La Cobra" Mine was also the largest operational underground mine in Honduras for the greater part of the last century.

The concession was assigned by the Ministry of Mines at no cost to Glen Eagle through standard legal procedures as well as on the fact that Cobra Oro was the only company among eleven applicants to have a fully permitted gold processing plant in the area.

Cobra Oro will prepare an NI 43-101 Technical Report in early June, 2017 using historical data based on surface and underground sampling records which will establish the foundation of an upcoming drill program for the La Cobra concession.

For the latest pictures at the Cobra Oro gold mill, please visit www.gleneagleresources.com

Cobra Oro has increased to 34 the number of employees working 24/7 at its gold processing plant in southern Honduras, an area known for being friendly to mining and providing a safe environment.

"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." Values in the news release are quoted in canadian dollars.