Wallbridge Mining Company Limited press release

Glen Eagle Resources Inc. Corporate Update

2011-03-16

TSX - Toronto Stock Exchange · Gold · Canada

Mar. 16, 2011 (TheNewswire.ca) --

MONTREAL, QUEBEC--(March 16, 2011) - Glen Eagle Resources Inc. (TSXV:GER) (OOTC:GERFF) (TSX VENTURE: GER "Glen Eagle Resources" or the "Company") has received from Multi-Ressources Boréal an option to acquire 10 additional claims on the Lac Lisette Phosphate property project for a total of 159 claims. A work commitment over the next three years totalling one million dollars almost equally divided is attached to the option agreement and completes the terms of the agreement as stipulated in the March 8 press release.

The Company will now have two projects to advance in key sectors of the economy namely in lithium and phosphate which is a major component in fertilizers.

A third project will be under development through its Souart gold property which the Company has optioned to Key Gold (TSXV: KGH). The transaction is expected to receive the TSX approval once Glen Eagle has received its 43-101 report on the Authier Lithium project. The report is expected before the end of the month. Upon acceptance by the TSX, Key Gold will issue 750,000 shares and make a $40,000 payment to Glen Eagle. If the option is exercised, Glen Eagle will receive over a three year period four million shares of Key Gold and $490,000 in cash payment.

FOR FURTHER INFORMATION CONTACT:

Jean Labrecque, President jl@gleneagleresources.com

Glen Eagle Resources Inc

999 DeMaisonneuve West

Suite 725

Montreal, Quebec

Tel: 514 938-4888

Website: www.gleneagleresources.com

François Marcotte

Consultant & Investors Relations

Tel: 450-536-0279

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

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