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Glen Eagle Resources Inc.: Glen Eagle Responds to Allegations by Jaguar Financial Corporation

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^{Published in Stocks and Investing on Tuesday, July 21st 2009 at 8:15 GMT, Last Modified on 2009-07-21 08:15:17 by Market Wire}  

MONTREAL, QUEBEC--(Marketwire - July 21, 2009) - Glen Eagle Resources Inc. (TSX VENTURE:GER) (News; "Glen Eagle Resources" or the "Company") announces that in a press release issued by Jaguar Financial Corporation ("Jaguar") on July 20, Jaguar alleges that a bank confirmation relied upon by Glen Eagle is not authentic. In its press release, Jaguar refers to its "preliminary findings" and concludes that "there is good reason to doubt that financing from Glen Eagle was ever available". Glen Eagle is not aware of any facts which would lead to the conclusion that the financial documentation relied upon by Glen Eagle is not authentic. In response to this allegation Glen Eagle is conducting its own investigation and will report further as soon as additional information is available to it. In the meantime, Glen Eagle would point out that Jaguar has a direct interest in discrediting any financial assistance available to Glen Eagle and that the purported lack of authenticity is based on allegations by unnamed Kuwaiti legal counsel engaged by Jaguar.

The TSX does not accept responsibility for the adequacy or accuracy of the release.