Glen Eagle Prevails in Court

MONTREAL, QUEBEC, Jun 30 (MARKET WIRE) --
Glen Eagle Resources Inc. (TSX VENTURE: GER) ("Glen Eagle Resources" or
the "Company") is pleased to report that Justice Wilton-Siegel of the
Ontario Superior Court gave a verbal ruling yesterday on June 29 and
ruled that:

(a) Kinbauri's motion for summary judgment (seeking a declaration that
Kinbauri was entitled to rescind the Subscription Agreement) was
dismissed;

(b) Consequently, Glen Eagle's motion to stay Kinbauri's application in
favor of arbitration was granted; and

(c) Jaguar's legal argument that Glen Eagle was precluded from seeking
damages in the arbitration (on the assumption that Kinbauri's legal
process in approving the Subscription Agreement was flawed) was dismissed.

In summary, Glen Eagle is permitted to proceed with its arbitration of
the issue as to whether Kinbauri breached the Subscription Agreement and
to seek damages in connection therewith. Kinbauri and Jaguar may still
seek to appeal the rulings. However, this does not confirm that they have
a right to appeal as the Arbitrations Act may actually preclude rights of
appeal in the circumstances at hand.

The motions judge has invited counsel for Glen Eagle to make submissions
for reimbursement of its legal costs in respect of the motions, and Glen
Eagle will be making written submissions in that regard in the next few
weeks, if not sooner. Kinbauri and Jaguar will have an opportunity to
respond to those written submissions for reimbursement of costs once
delivered by Glen Eagle.

Glen Eagle remains interested in the Kinbauri Espana Project.

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

Contacts:
Glen Eagle Resources Inc.
Head Office
Jean Labrecque
President & CEO
514-938-4888
www.gleneagleresources.com

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