LITHIUM RESOURCES: New 43-101 numbers at Authier are 40% higher than historic estimate

QUEBEC - Montreal-based Glen Eagle Resources has new, 43-101-compliant resource numbers for its Authier lithium property 45 km north of Val d'Or. Importantly, the new estimate is 40% higher than historical estimates.

The resource estimate, using a cutoff grade of 0.8% Li₂O, totals 4.17 million tonnes grading 1.04% Li₂O in the indicated category with an additional 2.29 million tonnes grading 1.00% Li₂O in the inferred category. The base case has been defined using a conceptual economic model based on a 2,500 t/d open pit and mill to produce a 6% Li₂O spodumene concentrate.

Glen Eagle recently began a 4,000-metre drill program at Authier. Results will be posted as they become available at www.GlenEagleResources.com.